Verify the new FHA loan limits for the county you are home shopping in…
The American Recovery and Reinvestment Act of 2009 established the current FHA loan limits. FHA loans are the most popular financing choice right now. You can buy a house with only 3.5% of the purchase price as a down payment. The seller can help with other closing costs. But you have to keep the loan value below the limit set for each county. Maryland has pretty high limits, so first time home buyers should be fine. Still it is good to know what the limits are:
| County | Single Family Loan Limit |
| ALLEGANY | $271050 |
| ANNE ARUNDEL | $560000 |
| BALTIMORE | $560000 |
| BALTIMORE CITY | $560000 |
| CALVERT | $729750 |
| CAROLINE | $271050 |
| CARROLL | $560000 |
| CECIL | $420000 |
| CHARLES | $729750 |
| DORCHESTER | $271050 |
| FREDERICK | $729750 |
| GARRETT | $437500 |
| HARFORD | $560000 |
| HOWARD | $560000 |
| KENT | $343750 |
| MONTGOMERY | $729750 |
| PRINCE GEORGE’S | $729750 |
| QUEEN ANNE’S | $560000 |
| SOMERSET | $328750 |
| ST. MARY’S | $400000 |
| TALBOT | $443750 |
| WASHINGTON | $377500 |
| WICOMICO | $328750 |
| WORCESTER | $437500 |
Look up other states or multi-family home limits at the HUD FHA Mortage Limits page.
Photo credit, Rob Pongsajapan.
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