2026 FHA Loan Limits in Rhode Island
FHA loans are insured by the Federal Housing Administration, allowing lenders to offer benefits like low down payment requirements and low closing costs. FHA loans may also have easier credit requirements than conventional mortgage loans, but there’s a limit to how much you can borrow.
The Rhode Island FHA loan limit for single-family homes in all counties is $787,750. Learn how to qualify, check out top lenders, and see the limits for multi-family FHA loans in this guide to Rhode Island FHA loans.
Rhode Island FHA loan limits by county
Rhode Island single-family FHA loan limits
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| BRISTOL COUNTY | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 | $685,000 |
| KENT COUNTY | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 | $685,000 |
| NEWPORT COUNTY | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 | $685,000 |
| PROVIDENCE COUNTY | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 | $685,000 |
| WASHINGTON COUNTY | $787,750 | $1,008,450 | $1,219,000 | $1,514,950 | $685,000 |
How are FHA loan limits determined?
Each year, the Federal Housing Administration (FHA) sets new FHA loan limits for government-backed loans using a formula established in the National Housing Act (NHA). The formula takes into account both “floor” and “ceiling” loan limits set by the Federal Housing Finance Agency (FHFA) and median home sale prices for each Metropolitan Statistical Area (MSA).
In low-cost areas, FHA mortgage amounts are capped at the “floor” limit, which is $541,287 for single-family homes in 2026. But in MSAs with higher home prices, including all Rhode Island counties, the maximum loan limit is calculated as 115% of the median home price for the area. The FHA loan limit in high-cost areas can’t be higher than the “ceiling” amount, which is $1,249,125 in 2026. There are a few areas outside of Rhode Island where the FHA makes an exception due to a high cost of construction.
To help you better understand how the FHA calculates loan limits for Rhode Island, here’s an example. The FHA assessed a median home sale price of $685,000 for Providence County, Rhode Island, when calculating loan limits for 2026. Since this is greater than the “floor” limit of $541,287, the maximum loan limit for Providence County is 115% of the median home sale price for Providence County, or $787,750 for a single-family home. That’s less than the ceiling loan limit, so a homebuyer could potentially borrow up to $787,750 with an FHA mortgage in Providence County.
How to qualify for an FHA loan in Rhode Island
Qualification requirements for FHA loans are generally less strict than conventional mortgage requirements, but Rhode Island borrowers still need to meet the following minimum criteria:
- Minimum credit score of 500: You need a credit score of at least 580 to qualify for an FHA loan with a down payment of as low as 3.5%. If your credit score is between 500 and 579, you’ll need to put at least 10% down.
- Debt-to-income ratio of no more than 43%: Your DTI ratio is your total debt divided by your pre-tax income. This metric helps lenders gauge whether you can afford to make your monthly mortgage payments alongside your existing debt obligations. FHA guidelines set the maximum 43%, although you may qualify for an FHA loan with a higher DTI if you have excellent credit and substantial cash reserves.
- Live in the property as your primary residence: FHA loans are strictly for primary residences, meaning you must intend to live in the home rather than use it for a vacation home or rental or investment property.
- Get an appraisal: As the buyer, you must pay for an FHA appraisal. This appraisal ensures the home’s value justifies the loan amount and that it adheres to the U.S. Department of Housing and Urban Development (HUD)’s property guidelines. Remember, you can only apply for a loan up to $787,750. So if the property’s appraised value is greater than that, you’ll need to make up the difference with your down payment, for example.
- Pay mortgage insurance premiums: If you use an FHA loan to buy a single-family home, you’ll have to pay two types of FHA mortgage insurance premiums: an upfront premium of 1.75% of the loan amount, which you can finance into the mortgage, and an annual premium, ranging from 0.15% to 0.75% of the loan amount, paid monthly. This insurance protects the lender if you default on the loan. Depending on your down payment amount, you’ll pay the annual premium either for 11 years or for the entire loan term. A 2025 policy change reduced the upfront and annual mortgage insurance premium for multifamily FHA loans to 0.25%.
Buying a multifamily property with an FHA loan
The FHA loan program offers a unique opportunity to purchase a two- to four-unit multifamily home with a down payment of just 3.5%. This option allows you to generate rental income by occupying one unit and renting out the others, an investment strategy known as house hacking.
To take advantage of this opportunity, you must meet the same requirements listed above, including living in the property as your primary residence for at least one year and paying an upfront and annual mortgage insurance premium equal to 0.25% of the loan amount. Lenders typically prefer to see a higher credit score when considering an application for a multifamily FHA loan.
You can often use a portion of the projected rental income to qualify for the loan, but lenders may require a signed lease as verification. You may also need to have cash reserves left over after closing. For example, you’ll need cash reserves of at least three monthly mortgage payments to qualify for a two- to four-unit FHA loan.
Your mortgage must also fall within the FHA loan limits for multifamily properties listed below.
| Number of units | FHA loan limit |
|---|---|
| Two | $1,008,450 |
| Three | $1,219,000 |
| Four | $1,514,950 |
FHA lenders in Rhode Island
| Lender | LendingTree rating | Minimum FHA credit score | |
|---|---|---|---|
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Expert review from LendingTree.
| 580 | |
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Expert review from LendingTree.
| 580 | |
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Expert review from LendingTree.
| 580 | |
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Expert review from LendingTree.
| 580 | |
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Expert review from LendingTree.
| 580 |
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