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2023 FHA Loan Limit Has Been Announced!

Mike Chissell, Trusted Mortgage Advisor • Jan 04, 2023

2023 is here and we have got great news for first time home buyers! The FHA loan limit has increased by 12% from $420,680 last year to $472,030! This means that you can purchase a home at a price of  $489,000 with 3.5 percent down and be eligible for the FHA program. 


The FHA program is one of the best programs out there for first time home buyers for a few different reasons. It always has lower interest rates than conventional loans along with allowing a higher debt to income ratio. This allows you to be able to afford a home with more debt and also allows for lower credit scores than other programs.


If you want to learn more about the FHA program or need advice as a first time home buyer, we would love to help! Give us a call at the office at 727-376-6900.


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