FHA Loan Limits in Oregon

FHA loan limits in OregonThe FHA loan limits in Oregon are the maximum amount that a borrower can receive from the FHA for a single-family home. The loan limits are calculated by taking into account the median home price in each county, as well as other factors that influence home prices, such as income level and population growth. These limits vary depending on the type of property that you are purchasing, as well as your location and income level. In general, there are two main types of FHA loan limits in Oregon: standard limits and high-cost area limits.

FHA Maximum Loan Amount List in Oregon

County Single-Family 2 Family 3 Family 4 Family
Baker County $420,680 $538,650 $651,050 $809,150
Benton County $483,000 $618,300 $747,400 $928,850
Clackamas County $598,000 $765,550 $925,350 $1,150,000
Clatsop County $437,000 $559,450 $676,200 $840,400
Columbia County $598,000 $765,550 $925,350 $1,150,000
Coos County $420,680 $538,650 $651,050 $809,150
Crook County $420,680 $538,650 $651,050 $809,150
Curry County $420,680 $538,650 $651,050 $809,150
Deschutes County $569,250 $728,750 $880,900 $1,094,700
Douglas County $420,680 $538,650 $651,050 $809,150
Gilliam County $420,680 $538,650 $651,050 $809,150
Grant County $420,680 $538,650 $651,050 $809,150
Harney County $420,680 $538,650 $651,050 $809,150
Hood River County $599,150 $767,000 $927,150 $1,152,250
Jackson County $420,680 $538,650 $651,050 $809,150
Jefferson County $420,680 $538,650 $651,050 $809,150
Josephine County $420,680 $538,650 $651,050 $809,150
Klamath County $420,680 $538,650 $651,050 $809,150
Lake County $420,680 $538,650 $651,050 $809,150
Lane County $420,680 $538,650 $651,050 $809,150
Lincoln County $420,680 $538,650 $651,050 $809,150
Linn County $420,680 $538,650 $651,050 $809,150
Malheur County $420,680 $538,650 $651,050 $809,150
Marion County $420,680 $538,650 $651,050 $809,150
Morrow County $420,680 $538,650 $651,050 $809,150
Multnomah County $598,000 $765,550 $925,350 $1,150,000
Polk County $420,680 $538,650 $651,050 $809,150
Sherman County $420,680 $538,650 $651,050 $809,150
Tillamook County $420,680 $538,650 $651,050 $809,150
Umatilla County $420,680 $538,650 $651,050 $809,150
Union County $420,680 $538,650 $651,050 $809,150
Wallowa County $420,680 $538,650 $651,050 $809,150
Wasco County $420,680 $538,650 $651,050 $809,150
Washington County $598,000 $765,550 $925,350 $1,150,000
Wheeler County $420,680 $538,650 $651,050 $809,150
Yamhill County $598,000 $765,550 $925,350 $1,150,000

Methods Used to Calculate FHA Loan Limits in Oregon

Median home price

The median home price in each county is taken into account when determining the FHA loan limit. This is calculated by taking the median value of all homes sold within a given county over time and comparing it to recent home values in that same county. This gives an indication of how much people are willing to pay for homes in that area, which helps inform the FHA loan limit calculation.

Income levels

In addition to median home prices, income levels also play a role in calculating FHA loan limits. For instance, in counties where incomes are higher, people are generally able to afford more expensive homes and therefore the loan limits will be higher.

Population growth

Another factor that is taken into consideration when calculating FHA loan limits in Oregon is population growth. If a county’s population is increasing rapidly, it is likely that home prices will also be on the rise. As a result, the FHA loan limit for that county will be higher than it would be otherwise.

The FHA uses these methods to calculate loan limits for each county in the United States on an annual basis. The loan limits are typically updated in the fall after home prices have been released for the year. For 2022, the loan limits range from $420,680 to $809,150 in most counties, there are also some high-cost areas where the limits are higher. Whether you are buying a home or refinancing an existing mortgage, these loan limits help ensure that borrowers have access to affordable financing options.

FHA Maximum Multifamily Loan Amounts in Oregon

A multifamily property is a real estate property that houses more than one family. These properties can come in many shapes and sizes, from small duplexes to large apartment complexes. Multifamily properties are a great investment for those looking to generate rental income and build long-term wealth. When talking about FHA loans, there are only 3 types of multifamily properties passing HUD rules and financing up to 97,5% of the purchase price. Please see below the FHA loan limits in Oregon for all multifamily properties (Duplex, Triplex, Fourplex)

FHA Limits for a Duplex in Oregon

A duplex property is a single property that has two separate units, usually with their own entrances. Duplexes are often built as attached homes, meaning that each unit shares at least one wall with the unit next door. The advantage of owning a duplex is that you can live in one unit and rent out the other, essentially covering your mortgage payment with rental income. This can be a great way to build equity and wealth over time.

There are a few things to keep in mind if you’re considering purchasing a duplex. First, it’s important to make sure that the zoning for the property allows for this type of use. Second, you’ll need to obtain the necessary permits from your local municipality. And finally, it’s important to be aware of the potential liability issues that come with being a landlord.

The maximum limits are set at $538,650 for most counties however there are high costs is in Oregon as well (Benton County, Clackamas County, Clatsop County, Columbia County, Deschutes County, Hood River County, Multnomah County, Washington County, and Yamhill County)

FHA Limits for a  Multifamily Triplex in Oregon

What is a triplex property? A triplex property, also known as a multi-family dwelling or multifamily residence, is a type of real estate that consists of three separate living units. Triplex properties are popular among investors and homeowners who are looking for additional income streams from renting out the other units in their homes. In today’s housing market, triplexes are becoming increasingly popular as more and more people seek to rent rather than buy their homes.

The FHA loan limits in Oregon for Triplex are set at $651,050 for most counties. In Oregon, there are 11 counties with higher FHA loan limits for 3-unit properties. Please check the above table for the specific county you live in.

FHA Multifamily Limits for a Fourplex in Oregon

Fourplex properties are large multi-unit residential buildings that contain a total of four separate living spaces. They are often popular among investors and real estate developers, as they can generate substantial income by renting out the individual units to tenants. There are many different factors that contribute to the appeal of fourplex properties, including their affordability, flexibility, and potential for investment returns. In addition, they typically require lower maintenance costs than other types of multifamily residences due to their simple design and smaller size. The FHA loan limits in Oregon for fourplex properties are set at $809,150 in most counties. There are some exceptions you can find in the above table.

FHA Multifamily loan limits in OregonFHA Loan Requirements in Oregon

FHA loan requirements are specific guidelines that must be met in order to qualify for an FHA loan. These requirements include a minimum credit score, a certain down payment amount, and proof of income. Additionally, FHA loans may have limitations on things like the location and condition of the property you are looking to purchase. We do all types of FHA loans from refinances to mixed-use and jumbo loans. Please apply here to check your eligibility.

In order to qualify for a forward mortgage, you’ll need to meet certain basic eligibility requirements. These include having a steady source of income and a credit score that is at least 580 or higher. You may also be required to show proof of employment or pay stubs, as well as provide details about any outstanding debt obligations. Additionally, you’ll likely have to put down at least 3.5% of the purchase price as a down payment.

Oregon Down Payment Assistance Program

For first-time buyers, the Oregon Housing and Community Services (OHCS) offers down payment assistance programs. They’re designed for “low-and very low-income families and individuals,” with a particular focus on underserved populations. The state organization distributes money to various local organizations that provide direct assistance to purchasers.

There is a list of those organizations on the OHCS website, as well as the counties or counties they serve. Every agency is linked to via links on the OHCS website. Also check out HUD’s list of additional homeownership assistance programs in the state.