FHA Loan Limits Pennsylvania

Woman holding a FHA limits sign FHA loan limits were increased in 2024. The increase allows home buyers and homeowners to finance a higher loan amount when they take out a Federal Housing Administration (FHA) loan.

The base loan limit for one-unit properties increased to $498,257
from $472,030, while the loan limit for two-unit parcels increased from $604,400 to $637,950.

The maximum loan amount that the Federal Housing Administration (FHA) will insure for a single-family home will rise from $1,089,300 to $1,149,825, reflecting an increase in the ceiling lending restrictions established by the FHA.

In Alaska, Hawaii, Guam, and the United States Virgin Islands, the cap is raised to $1,724,725.

The higher limits will also be available for three-and four-unit properties. This is good news for prospective home buyers who may have been previously priced out of the market. More borrowers will be able to take advantage of this program with the increase in FHA loan limits.

FHA loans appeal because they offer lower down payment and credit score requirements than conventional loans, making them an excellent option for first-time home buyers or those with less-than-perfect credit. Now is the time to start researching your financing options if you are considering buying a home in 2024.

2024 FHA Loan Limits for Pennsylvania Counties

  • One Family is a single-family home or condominium
  • Two Family is a single-family home or condominium
  • Three Family is a single-family home or condominium
  • Four Family is a single-family home or condominium

One-Family Two-Family Three-Family Four-Family
Adams $498,257 $637,950 $771,125 $958,350
Allegheny $498,257 $637,950 $771,125 $958,350
Armstrong $498,257 $637,950 $771,125 $958,350
Beaver $498,257 $637,950 $771,125 $958,350
Bedford $498,257 $637,950 $771,125 $958,350
Berks $498,257 $637,950 $771,125 $958,350
Blair $498,257 $637,950 $771,125 $958,350
Bradford $498,257 $637,950 $771,125 $958,350
Bucks $557,750 $714,000 $863,100 $1,072,600
Butler $498,257 $637,950 $771,125 $958,350
Cambria $498,257 $637,950 $771,125 $958,350
Cameron $498,257 $637,950 $771,125 $958,350
Carbon $498,257 $637,950 $771,125 $958,350
Centre $498,257 $637,950 $771,125 $958,350
Chester $557,750 $714,000 $863,100 $1,072,600
Clarion $498,257 $637,950 $771,125 $958,350
Clearfield $498,257 $637,950 $771,125 $958,350
Clinton $498,257 $637,950 $771,125 $958,350
Columbia $498,257 $637,950 $771,125 $958,350
Crawford $498,257 $637,950 $771,125 $958,350
Cumberland $498,257 $637,950 $771,125 $958,350
Dauphin $498,257 $637,950 $771,125 $958,350
Delaware $557,750 $714,000 $863,100 $1,072,600
Elk $498,257 $637,950 $771,125 $958,350
Erie $498,257 $637,950 $771,125 $958,350
Fayette $498,257 $637,950 $771,125 $958,350
Forest $498,257 $637,950 $771,125 $958,350
Franklin $498,257 $637,950 $771,125 $958,350
Fulton $498,257 $637,950 $771,125 $958,350
Greene $498,257 $637,950 $771,125 $958,350
Huntingdon $498,257 $637,950 $771,125 $958,350
Indiana $498,257 $637,950 $771,125 $958,350
Jefferson $498,257 $637,950 $771,125 $958,350
Juniata $498,257 $637,950 $771,125 $958,350
Lackawanna $498,257 $637,950 $771,125 $958,350
Lancaster $498,257 $637,950 $771,125 $958,350
Lawrence $498,257 $637,950 $771,125 $958,350
Lebanon $498,257 $637,950 $771,125 $958,350
Lehigh $498,257 $637,950 $771,125 $958,350
Luzerne $498,257 $637,950 $771,125 $958,350
Lycoming $498,257 $637,950 $771,125 $958,350
Mckean $498,257 $637,950 $771,125 $958,350
Mercer $498,257 $637,950 $771,125 $958,350
Mifflin $498,257 $637,950 $771,125 $958,350
Monroe $498,257 $637,950 $771,125 $958,350
Montgomery $557,750 $714,000 $863,100 $1,072,600
Montour $498,257 $637,950 $771,125 $958,350
Northampton $498,257 $637,950 $771,125 $958,350
Northumberland $498,257 $637,950 $771,125 $958,350
Perry $498,257 $637,950 $771,125 $958,350
Philadelphia $557,750 $714,000$863,100 $1,072,600
Pike $1,149,825 $1,472,250 $1,779,525 $2,211,600
Potter $498,257 $637,950 $771,125 $958,350
Schuylkill $498,257 $637,950 $771,125 $958,350
Snyder $498,257 $637,950$771,125 $958,350
Somerset $498,257 $637,950 $771,125 $958,350
Sullivan $498,257 $637,950$771,125 $958,350
Susquehanna $498,257 $637,950 $771,125 $958,350
Tioga $498,257 $637,950 $771,125 $958,350
Union $498,257 $637,950$771,125 $958,350
Venango $498,257 $637,950$771,125 $958,350
Warren $498,257 $637,950 $771,125 $958,350
Washington $498,257 $637,950 $771,125 $958,350
Wayne $498,257 $637,950 $771,125 $958,350
Westmoreland $498,257 $637,950 $771,125 $958,350
Wyoming $498,257 $637,950 $771,125 $958,350
York $498,257 $637,950 $771,125 $958,350

Rotating question markFAQs About FHA Loans


FAQ 1: What is the FHA Max Loan Amount?

Answer: FHA loan limits are the maximum loan amounts that the Federal Housing Administration (FHA) is willing to insure for homebuyers in a particular area. These limits vary by location and are influenced by factors such as local housing market conditions.

FAQ 2: How are FHA loan limits determined?

Answer: FHA loan limits are determined based on the median home prices in a given area. The Department of Housing and Urban Development (HUD) sets these limits to ensure that FHA loans remain accessible to a broad range of homebuyers while considering regional differences in housing costs.

FAQ 3: Do FHA loan limits change annually?

Answer: Yes, FHA loan limits are subject to change on an annual basis. HUD reviews and adjusts the limits to reflect changes in home prices. It's important for homebuyers to stay informed about the current FHA loan limits in their desired location when considering an FHA-insured loan.

FAQ 4: Can borrowers exceed FHA loan limits?

Answer: While FHA loan limits serve as a guideline, borrowers may still qualify for an FHA loan even if the loan amount exceeds the established limit. However, exceeding the limit may require a larger down payment. Borrowers should consult with lenders and consider other loan options if their financing needs surpass FHA limits. See FHA jumbo loans

Conclusion

In conclusion, FHA loan limits in Pennsylvania offer an excellent opportunity for those looking to purchase a home. It is essential to check the FHA loan limit for your county as it can vary from county to county. Potential borrowers should also know how their credit score and other factors may affect their loan limit. Furthermore, it is wise to get pre-approved before beginning the search for a home within the FHA loan limit.

SOURCE:
U.S. Department of Housing and Urban Development

Recommended Reading
Home Buying 101: Essential Resources for First-Time Buyers 
Home Buying Tips for First Time Buyers

Home Possible Mortgage in PA