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2021 FHA Loan Limits in Idaho

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The federal government has set the maximum amount an Idahoan homebuyer can borrow with an FHA loan between $356,362 and $822,375 for a single-family home, depending on which county the property is located in. The lower number applies to most of the state; folks in Boise, the state’s capital, might be able to qualify for more than $415,000, and for those in centrally-located Hailey, as much as $646,300. Notably, buyers in Teton County may be able to borrow as much as $822,375, the limit for high cost areas.

Dreaming about buying a house in Idaho? This may be the perfect time to make the leap. And thanks to the Federal Housing Administration (FHA), some Idahoans 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.

Idaho FHA loan limits by county

FHA Loan Limits in Idaho
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Ada $415,150 $531,450 $642,400 $798,350 $361,000
Adams $356,362 $456,275 $551,500 $685,400 $233,000
Bannock $356,362 $456,275 $551,500 $685,400 $210,000
Bear Lake $356,362 $456,275 $551,500 $685,400 $180,000
Benewah $356,362 $456,275 $551,500 $685,400 $162,000
Bingham $356,362 $456,275 $551,500 $685,400 $215,000
Blaine $646,300 $827,400 $1,000,100 $1,242,900 $499,000
Boise $415,150 $531,450 $642,400 $798,350 $361,000
Bonner $356,362 $456,275 $551,500 $685,400 $298,000
Bonneville $356,362 $456,275 $551,500 $685,400 $278,000
Boundary $356,362 $456,275 $551,500 $685,400 $225,000
Butte $356,362 $456,275 $551,500 $685,400 $278,000
Camas $646,300 $827,400 $1,000,100 $1,242,900 $499,000
Canyon $415,150 $531,450 $642,400 $798,350 $361,000
Caribou $356,362 $456,275 $551,500 $685,400 $187,000
Cassia $356,362 $456,275 $551,500 $685,400 $214,000
Clark $356,362 $456,275 $551,500 $685,400 $129,000
Clearwater $356,362 $456,275 $551,500 $685,400 $143,000
Custer $356,362 $456,275 $551,500 $685,400 $184,000
Elmore $356,362 $456,275 $551,500 $685,400 $219,000
Franklin $356,362 $456,275 $551,500 $685,400 $292,000
Fremont $356,362 $456,275 $551,500 $685,400 $269,000
Gem $415,150 $531,450 $642,400 $798,350 $361,000
Gooding $356,362 $456,275 $551,500 $685,400 $171,000
Idaho $356,362 $456,275 $551,500 $685,400 $152,000
Jefferson $356,362 $456,275 $551,500 $685,400 $278,000
Jerome $356,362 $456,275 $551,500 $685,400 $230,000
Kootenai $388,700 $497,600 $601,500 $747,500 $338,000
Latah $356,362 $456,275 $551,500 $685,400 $304,000
Lemhi $356,362 $456,275 $551,500 $685,400 $193,000
Lewis $356,362 $456,275 $551,500 $685,400 $152,000
Lincoln $356,362 $456,275 $551,500 $685,400 $173,000
Madison $356,362 $456,275 $551,500 $685,400 $269,000
Minidoka $356,362 $456,275 $551,500 $685,400 $214,000
Nez Perce $356,362 $456,275 $551,500 $685,400 $248,000
Oneida $356,362 $456,275 $551,500 $685,400 $188,000
Owyhee $415,150 $531,450 $642,400 $798,350 $361,000
Payette $356,362 $456,275 $551,500 $685,400 $239,000
Power $356,362 $456,275 $551,500 $685,400 $210,000
Shoshone $356,362 $456,275 $551,500 $685,400 $166,000
Teton $822,375 $1,053,000 $1,272,750 $1,581,750 $938,000
Twin Falls $356,362 $456,275 $551,500 $685,400 $230,000
Valley $379,500 $485,800 $587,250 $729,800 $330,000
Washington $356,362 $456,275 $551,500 $685,400 $181,000

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 Idaho?

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.

 

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