What are FHA Loan Limits in New Jersey?

FHA loans are a low down payment mortgage program and New Jersey FHA loan limits are connected to local home values. Search the charts below to determine the maximum mortgage amount allowed for your county. FHA loan limits in New Jersey are set above the floor amount of $275,665 across the entire state.

New Jersey FHA Loan Limits Search:

County Name
Area
1-Unit
2-Unit
3-Unit
4-Unit
ATLANTICATLANTIC CITY-HAMMONTON, NJ$316,250$404,850$489,350$608,150
BERGENNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
BURLINGTONPHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-D$379,500$485,800$587,250$729,800
CAMDENPHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-D$379,500$485,800$587,250$729,800
CAPE MAYOCEAN CITY, NJ$414,000$530,000$640,650$796,150
CUMBERLANDVINELAND-BRIDGETON, NJ$275,665$352,950$426,625$530,150
ESSEXNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
GLOUCESTERPHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-D$379,500$485,800$587,250$729,800
HUDSONNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
HUNTERDONNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
MERCERTRENTON, NJ$345,000$441,650$533,850$663,450
MIDDLESEXNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
MONMOUTHNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
MORRISNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
OCEANNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
PASSAICNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
SALEMPHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-D$379,500$485,800$587,250$729,800
SOMERSETNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
SUSSEXNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
UNIONNEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA$636,150$814,500$984,525$1,223,475
WARRENALLENTOWN-BETHLEHEM-EASTON, PA-NJ$372,600$477,000$576,550$716,550

New Jersey FHA loan limits can change at any time. Check back often to ensure information is accurate.

How are New Jersey FHA Limits Set?

New Jersey FHA Loan LimitsMortgage limits for New Jersey FHA loans are based on median housing prices for the particular Metropolitan Statistical Area (MSA) and county. More specifically, “Median Sale Price” for area homes in each county or MSA is considered the determining factor. National FHA mortgage limits for low costs areas are set at 65 percent of the national conventional conforming loan limit. FHA loan limits are updated yearly.

New Jersey FHA Loan-to-Value Limits (LTV)

  • Purchase Loans –  The mortgage loan-to-value limit in New Jersey is 96.5% of the lower of the purchase price or the appraised value of the home.
  • Refinance Loans – The refinance loan-to-value limit in New Jersey is 97.75% of the lower of the appraised property value, or the mortgage amount plus closing costs. If you’re refinancing and taking cash out from equity, the loan limit will be limited to 85% of the appraised home value.

New Jersey FHA loan limits are set above the nationwide floor amount in Newark, Perth Amboy, Vineland, Union, Piscataway, New Brunswick, Hoboken, Plainfield, Jersey City and all other areas in the state. You may also want to view these additional FHA loan resources before deciding on a mortgage loan:

More FHA Loan Resources

 

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