FHA Increases Loan Limits for 2023

Housing Finance
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Contact: Curtis Milton
cmilton@nahb.org
(202) 266-8597

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The Federal Housing Administration (FHA) on Dec. 1 announced its loan limits for 2023. The nationwide rise in median home prices indicates most buyers across the country will see increases.

The FHA floor will increase from $420,680 to $472,030 for single-family home loans. The floor amount is the lowest the FHA loan limit can be for any area of the country. FHA’s ceiling loan limits, the maximum loan amount the agency will insure, will increase from $970,800 to $1,089,300 for a single-family property. The ceiling rises even higher to $1,633,950 in Alaska, Hawaii, Guam and the U.S. Virgin Islands.

The following table lists the 2023 FHA loan limits for low- and high-cost areas:

Property Size

Low-Cost Area “Floor”

High-Cost Area “Ceiling”

Alaska, Hawaii, Guam, and U.S. Virgin Islands “Ceiling”1

One-Unit

$472,030

$1,089,300

$1,633,950

Two-Units

$604,400

$1,394,775

$2,092,150

Three-Units

$730,525

$1,685,850

$2,528,775

Four-Units

$907,900

$2,095,200

$3,142,800

The new loan limits will apply to all loans assigned FHA case numbers on or after Jan. 1, 2023. The 2023 FHA loan limits by Metropolitan Statistical Area (MSA) or county can be reviewed on FHA’s loan limits webpage

FHA also increased the loan limits for its Home Equity Conversion Mortgage (HECM), or reverse mortgage program, to $1,089,300. The HECM program regulations do not allow loan limits to vary by MSA or county, so this limit applies to all mortgages regardless of location.

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