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2019 FHA Loan Limits in Maryland

FHA loan limits in Maryland vary widely, from $314,827 in more rural areas to $726,525 in counties surrounding Washington D.C.

More affordable options are in the state’s Eastern Shore region or the western part of the state near the West Virginia border, but prices climb as you approach Baltimore and the Washington, D.C., corridor.

The Maryland Association of Realtors reported a statewide median home price of $284,000 in December 2018. However, prices range considerably depending on the area. You could find a bargain in Allegany County in the Appalachian mountains, which has a median price of $106,000, or enter a market with a median price of $421,000, such as in Montgomery County in suburban Washington, D.C.

If you are looking for a home in Maryland, you may be considering an FHA loan. If so, you will need to understand the limits.

Maryland home prices vary significantly between the state’s 24 counties, as reflected by the range of FHA loan limits throughout the state. Five suburban Washington, D.C., counties (Calvert, Charles, Frederick, Montgomery and Prince George’s) fall into the high-cost classification that offers a $726,525 loan limit for a single-family home, and seven others in the Baltimore area have a limit of $517,500. On the other hand, six counties offer only a limit of $314,827 for a single-family home, in line with the standard FHA loan amount across the country.

About 2.5% of FHA loans originated nationwide came from Maryland in fiscal year 2018, according to an annual report. The FHA reported in 2016 (the most recent year in which this data was available) that 33,798 loans generated in Maryland were FHA loans, representing a total of $8.8 billion.

Maryland FHA loan limits by county

FHA Loan Limits in Maryland
County Single-Family Limit Two-Family Limit Three-Family Limit Four-Family Limit Median Sale Price
Allegany $314,827 $403,125 $487,250 $605,525 $96,000
Anne Arundel $517,500 $662,500 $800,800 $995,200 $450,000
Baltimore $517,500 $662,500 $800,800 $995,200 $450,000
Baltimore City $517,500 $662,500 $800,800 $995,200 $450,000
Calvert $726,525 $930,300 $1,124,475 $1,397,400 $768,000
Caroline $314,827 $403,125 $487,250 $605,525 $157,000
Carroll $517,500 $662,500 $800,800 $995,200 $450,000
Cecil $402,500 $515,250 $622,850 $774,050 $350,000
Charles $726,525 $930,300 $1,124,475 $1,397,400 $768,000
Dorchester $314,827 $403,125 $487,250 $605,525 $149,000
Frederick $726,525 $930,300 $1,124,475 $1,397,400 $768,000
Garrett $314,827 $403,125 $487,250 $605,525 $163,000
Harford $517,500 $662,500 $800,800 $995,200 $450,000
Howard $517,500 $662,500 $800,800 $995,200 $450,000
Kent $314,827 $403,125 $487,250 $605,525 $210,000
Montgomery $726,525 $930,300 $1,124,475 $1,397,400 $768,000
Prince George’S $726,525 $930,300 $1,124,475 $1,397,400 $768,000
Queen Anne’S $517,500 $662,500 $800,800 $995,200 $450,000
Somerset $336,950 $431,350 $521,400 $648,000 $293,000
St. Mary’S $347,300 $444,600 $537,400 $667,900 $278,000
Talbot $382,950 $490,250 $592,600 $736,450 $305,000
Washington $314,827 $403,125 $487,250 $605,525 $185,000
Wicomico $336,950 $431,350 $521,400 $648,000 $293,000
Worcester $336,950 $431,350 $521,400 $648,000 $293,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a home the FHA will insure. These limits based on the conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2019, the conforming loan limit has been set at $484,350.

The FHA “floor” is the largest mortgage the agency will issue in most of the country, and it is set at $314,827 for 2019.

The FHA “ceiling” is a higher loan limit for borrowers buying a home in high-cost areas. This limit is set at 150% of the conforming loan limit, or $726,525 in 2019. This is generally the highest mortgage the agency will insure for a single-family home. In many counties, loan limits are set somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Maryland?

Knowing the latest FHA loan limits in your area is a step in the right direction when it comes to purchasing your dream home. An FHA loan may be able to help you financially, but you will need to qualify. Your credit score, income level and debt-to-income ratio will all be taken into consideration. To learn more about qualifying for an FHA loan, visit LendingTree’s main FHA page.

 

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