HUD has released the FHA loan limits for 2020.
Seattle – King County, Tacoma – Pierce County and Everett – Snohomish County all have higher loan limits at $741,750 for a single family home. Homes located in King, Snohomish and Pierce Counties qualify for a higher loan amount as the counties are considered “high cost”.
FHA mortgage loans are not limited to first time home buyers and do not have income limits. Loan limits do vary by the county the home is located in. Here is a complete list of 2020 FHA loan limits for in Washington State.
If you’re interested in buying or refinancing a home located anywhere in Washington state, I’m happy to help!
HUD had just announced the FHA loan limits for 2019. Homes in the greater Seattle area, including King, Pierce and Snohomish counties, will have a higher loan limit, often referred to as an FHA jumbo. Not all counties received higher loan limits for 2019. Clark, Island, King, Kitsap, Pierce, Skagit, Skamania, Snohomish, Thurston and Whatcom counties have increased loan limits for 2019.
Conforming loan limits effective 2019 will be increased from $453,100 to $484,350 for a single family dwelling. Homes located in “high balance areas” such as King County, Pierce County or Snohomish County, will have a conforming high balance loan limit of $726,525 from $667,000.
Recent Comments