House prices have climbed and the Federal Housing Administration (FHA) announced increased loan limits for 2019 to 115% of median house price by county.
FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008, to set single-family forward loan limits at 115% of median house prices, subject to a floor and a ceiling on the limits. FHA calculates forward mortgage limits by Metropolitan Statistical Area and county.
FHA’s 2019 minimum national loan limit, or floor, of $314,827 is set at 65% of the national conforming loan limit of $484,350. This floor applies to those areas where 115% of the median home price is less than the floor limit.
Any areas where the loan limit exceeds this floor is considered a high-cost area, and HERA requires FHA to set its maximum loan limit “ceiling” for high-cost areas at 150% of the national conforming limit.
Here are the 2019 loan limits for each NH County:
| County | 1 unit | 2 units | 3 units | 4 units |
| BELKNAP | $314,827 | $403,125 | $487,250 | $605,525 |
| CARROLL | $314,827 | $403,125 | $487,250 | $605,525 |
| CHESHIRE | $314,827 | $403,125 | $487,250 | $605,525 |
| COOS | $314,827 | $403,125 | $487,250 | $605,525 |
| GRAFTON | $314,827 | $403,125 | $487,250 | $605,525 |
| HILLSBOROUGH | $322,000 | $412,200 | $498,250 | $619,250 |
| MERRIMACK | $314,827 | $403,125 | $487,250 | $605,525 |
| ROCKINGHAM | $688,850 | $881,850 | $1,065,950 | $1,324,750 |
| STRAFFORD | $688,850 | $881,850 | $1,065,950 | $1,324,750 |
| SULLIVAN | $314,827 | $403,125 | $487,250 | $605,525 |
If you want to know more about the FHA loans in NH or other home loan programs that you might qualify for, feel free to call me at 603-471-9300 or send me an email.