Helping Washington State homeowners learn more about their mortgage options.
HUD has released the 2026 FHA loan limits for homes located in Washington State. FHA loan limits are set each year and vary by county and by the number of units (1–4 unit homes).
These limits determine the maximum base loan amount you can finance using an FHA-insured mortgage. If your loan amount is higher than the FHA limit for the county where the property is located, you may need a different type of financing (such as a conventional or jumbo loan), or a larger down payment. [Read more…]
FHA issued an update to their guidelines (ML 2025-09) revising residency requirements for FHA mortgages. The new guidelines only allows U.S. citizens and lawful permanent residents and removes non-permanent residents from being eligible.
From Mortgage Letter 2025-09:
“Currently, non-permanent residents are subject to immigration laws that can affect their ability to remain legally in the country. This uncertainty poses a challenge for FHA as the ability to fulfill long-term financial obligations depends on stable residency and employment.”
This is an evolving situation. I expect other government backed loans to follow suit. Stay tuned.
Buying your first home is such an exciting and important time of your life. It’s a big step in creating financial freedom for your future. First homes are often referred to as a “starter home” as people tend to live in the home for a shorter period of time and use the equity they gain from appreciation and paying down the mortgage towards buying their next home. [Read more…]
HUD has announced the 2025 loan limits for FHA mortgage loans.
King, Pierce and Snohomish Counties, the loan limits are:
FINALLY!!! HUD just announced that the mortgage insurance on FHA mortgages will be reduced by 30 basis points on most mortgage loans.
FHA mortgages typically have two forms of mortgage insurance. Borrowers pay for both an upfront premium, which is often added to the loan amount and financed over the life of the loan and an annual premium, which is paid monthly. The mortgage insurance which has been reduced is the annual mortgage insurance. [Read more…]
HUD has just announced the 2023 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, every county except for San Juan County, has higher loan limits.
Here are the 2023 FHA loan limits for homes located in Washington state: [Read more…]
HUD has announced loan limits for FHA mortgages for 2022. Just like conforming loan limits that I announced just a few hours ago, loan limits are higher for 2022 except for San Juan County, which has the same loan limits as 2021. King, Pierce and Snohomish Counties have a loan limit of $891,250 for 1-unit properties.
FHA has more various loan limits by county than conforming. Here is a complete list for counties in Washington state. [Read more…]
Last month I wrote about advice I’ve been seeing popping up in my Facebook feed from Dave Ramsey on mortgages. There are several points that I just don’t find realistic for the average person who wants to buy a home, such as only using a 15 year amortized mortgage with 20% down payment and limiting your mortgage payment to 25% of your take home pay. I promised that I would share a follow up post where I review different scenarios comparing his advise to real life scenarios. [Read more…]
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
Recent Comments