2021 FHA Loan Limits in Alaska
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The federal government has set the maximum amount an Alaskan homebuyer can borrow with an FHA loan between $356,362 and $545,100 for a single-family home, depending on the borough or census area (equivalent to a county) where the property is located. The lower number applies to homes in regions such as the boroughs of Bristol Bay and Fairbanks, whereas folks buying homes in the capital of Juneau might be able to qualify for as much as $483,000. A $545,100 maximum is allowed to homebuyers in the Aleutians West census area.
Dreaming about buying a house in Alaska? This may be the perfect time to make the leap. And thanks to the Federal Housing Administration (FHA), some Alaskans can qualify for federally backed loans to help get them into a new house. This year, residents will be able to borrow even more with an FHA loan in some areas to make their homebuying dreams come true.
Alaska FHA loan limits by county
| FHA Loan Limits in Alaska | |||||
| County Name | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
| Aleutians East | $356,362 | $456,275 | $551,500 | $685,400 | $136,000 |
| Aleutians West | $545,100 | $697,800 | $843,500 | $1,048,300 | $474,000 |
| Anchorage Munic | $417,450 | $534,400 | $645,950 | $802,800 | $363,000 |
| Bethel Census A | $356,362 | $456,275 | $551,500 | $685,400 | $122,000 |
| Bristol Bay Bor | $356,362 | $456,275 | $551,500 | $685,400 | $298,000 |
| Denali Borough | $356,362 | $456,275 | $551,500 | $685,400 | $225,000 |
| Dillingham Cens | $356,362 | $456,275 | $551,500 | $685,400 | $203,000 |
| Fairbanks North | $356,362 | $456,275 | $551,500 | $685,400 | $270,000 |
| Haines Borough | $356,362 | $456,275 | $551,500 | $685,400 | $250,000 |
| Hoonah-Angoon C | $356,362 | $456,275 | $551,500 | $685,400 | $253,000 |
| Juneau City And | $483,000 | $618,300 | $747,400 | $928,850 | $420,000 |
| Kenai Peninsula | $356,362 | $456,275 | $551,500 | $685,400 | $240,000 |
| Ketchikan Gatew | $407,100 | $521,150 | $629,950 | $782,900 | $354,000 |
| Kodiak Island B | $417,450 | $534,400 | $645,950 | $802,800 | $363,000 |
| Kusilvak Census | $356,362 | $456,275 | $551,500 | $685,400 | $84,000 |
| Lake And Penins | $356,362 | $456,275 | $551,500 | $685,400 | $133,000 |
| Matanuska-Susit | $417,450 | $534,400 | $645,950 | $802,800 | $363,000 |
| Nome Census Are | $440,450 | $563,850 | $681,550 | $847,000 | $383,000 |
| North Slope Bor | $356,362 | $456,275 | $551,500 | $685,400 | $211,000 |
| Northwest Arcti | $356,362 | $456,275 | $551,500 | $685,400 | $146,000 |
| Petersburg Cens | $356,362 | $456,275 | $551,500 | $685,400 | $236,000 |
| Prince Of Wales | $356,362 | $456,275 | $551,500 | $685,400 | $191,000 |
| Sitka City And | $486,450 | $622,750 | $752,750 | $935,500 | $388,000 |
| Skagway Municip | $415,150 | $531,450 | $642,400 | $798,350 | $348,000 |
| Southeast Fairb | $356,362 | $456,275 | $551,500 | $685,400 | $204,000 |
| Valdez-Cordova | $356,362 | $456,275 | $551,500 | $685,400 | $269,000 |
| Wrangell City A | $356,362 | $456,275 | $551,500 | $685,400 | $235,000 |
| Yakutat City An | $420,900 | $538,800 | $651,300 | $809,450 | $193,000 |
| Yukon-Koyukuk C | $356,362 | $456,275 | $551,500 | $685,400 | $86,000 |
How are FHA loan limits determined?
The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.
The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.
The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.
Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.
Here are the 2021 standard FHA limits for all property types:
- One-unit: $356,362
- Two-unit: $456,275
- Three-unit: $551,500
- Four-unit: $685,400
Here are the 2021 standard FHA limits for high-cost areas:
- One-unit: $822,375
- Two-unit: $1,053,000
- Three-unit: $1,272,750
- Four-unit: $1,581,750
Do you qualify for an FHA loan in Alaska?
FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.
