Home LoansFHA Loans: What You Need to Know in 2021
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2021 FHA Loan Limits in New Hampshire

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The FHA loan limits in New Hampshire have increased to $356,362 for a single-family home for much of the state. In higher-cost counties, the maximum FHA loan limit is $724,500 for a single-family home.

If you envision living in a quaint New England home in the Granite State, now may be the perfect time to start your home search. And thanks to the Federal Housing Administration (FHA), some New Hampshire residents can qualify for a federally backed home loan with lower credit score and down payment requirements. This year, homebuyers and current homeowners in New Hampshire will be able to borrow even more with an FHA loan.

New Hampshire FHA loan limits by county

FHA Loan Limits in New Hampshire
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Belknap $356,362 $456,275 $551,500 $685,400 $235,000
Carroll $356,362 $456,275 $551,500 $685,400 $260,000
Cheshire $356,362 $456,275 $551,500 $685,400 $198,000
Coos $356,362 $456,275 $551,500 $685,400 $98,000
Grafton $356,362 $456,275 $551,500 $685,400 $225,000
Hillsborough $373,750 $478,450 $578,350 $718,750 $325,000
Merrimack $356,362 $456,275 $551,500 $685,400 $264,000
Rockingham $724,500 $927,500 $1,121,150 $1,393,300 $630,000
Strafford $724,500 $927,500 $1,121,150 $1,393,300 $630,000
Sullivan $356,362 $456,275 $551,500 $685,400 $225,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in New Hampshire?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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