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2019 FHA Loan Limits in New Hampshire

In New Hampshire, the range for FHA loan limits for a single-family home runs from $314,827 in most of the state to $688,850 in Rockingham and Strafford counties.

New Hampshire is one of the smaller states population-wise, home to approximately 1.3 million people, according to a 2018 Census estimate. The state is largely rural and has only 10 counties total. Its most populous city is Manchester, with approximately 111,000 residents.

The median price of a single-family home in the state was $282,500 in 2018, according to the New Hampshire Association of Realtors.

FHA loans are a relatively popular choice in New Hampshire. A 2016 FHA report noted that of all mortgage loans originated in the state, 24.5% were FHA-backed. In fiscal year 2016, 5,509 loans were made for a total value of $1.2 billion (this is the most recent year for which this data is available). The FHA’s 2018 report found that 0.43% of all FHA loans made in the U.S. were originated in New Hampshire.

New Hampshire FHA loan limits by county

FHA Loan Limits in New Hampshire
County Single-Family Limit Two-Family Limit Three-Family Limit Four-Family Limit Median Sale Price
Belknap $314,827 $403,125 $487,250 $605,525 $203,000
Carroll $314,827 $403,125 $487,250 $605,525 $208,000
Cheshire $314,827 $403,125 $487,250 $605,525 $175,000
Coos $314,827 $403,125 $487,250 $605,525 $87,000
Grafton $314,827 $403,125 $487,250 $605,525 $182,000
Hillsborough $322,000 $412,200 $498,250 $619,250 $280,000
Merrimack $314,827 $403,125 $487,250 $605,525 $240,000
Rockingham $688,850 $881,850 $1,065,950 $1,324,750 $599,000
Strafford $688,850 $881,850 $1,065,950 $1,324,750 $599,000
Sullivan $314,827 $403,125 $487,250 $605,525 $182,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD), which oversees the FHA, sets loan limits each based on the conforming loan limit — or the largest mortgage government-sponsored entities Fannie Mae and Freddie Mac will purchase. In 2019, that limit is $484,350.

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

The FHA “ceiling” is a special higher limit that applies to areas with more expensive real estate. This is set at 150% of the conforming loan limit, or $726,525 in 2019. In some years there are a few exceptions, but this is usually the highest mortgage the agency will insure for a single-family home. In other areas, loan limits fall 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 New Hampshire?

FHA loans are backed by the government to help individuals purchase homes with a down payment as low as 3.5%. Before you choose the loan or lender you believe is right for you, do your research to understand as much as you can about the process. This is especially true if you have concerns about whether you’ll be able to qualify for an FHA mortgage.

Ready to learn more about other FHA loan requirements, such as credit score, income, etc.? This helpful guide from LendingTree is a great place to start.

 

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