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Washington State FHA Home Loans

FHA Mortgage Loan Programs in Washington State
FHA Loan Requirements - 2023 FHA Loan Limits

Washington State FHA Loan | Requirements | 2023 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Washington State.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

Washington State FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in Washington State.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2023 FHA loan limits for all counties in Washington State below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Washington State.  To have an FHA lender contact you, request a free consultation.

2023 Washington State FHA Loan Limits

Below are the 2023 FHA loan limits for every county in Washington State:

County Single Family (1 Unit) 2 Units 3 Units 4 Units
ADAMS  $472,030  $604,400  $730,525  $907,900
ASOTIN  $472,030  $604,400  $730,525  $907,900
BENTON  $472,030  $604,400  $730,525  $907,900
CHELAN  $506,000  $647,750  $783,000  $973,100
CLALLAM  $472,030  $604,400  $730,525  $907,900
CLARK  $672,750  $861,250  $1,041,050  $1,293,750
COLUMBIA  $472,030  $604,400  $730,525  $907,900
COWLITZ  $472,030  $604,400  $730,525  $907,900
DOUGLAS  $506,000  $647,750  $783,000  $973,100
FERRY  $472,030  $604,400  $730,525  $907,900
FRANKLIN  $472,030  $604,400  $730,525  $907,900
GARFIELD  $472,030  $604,400  $730,525  $907,900
GRANT  $472,030  $604,400  $730,525  $907,900
GRAYS HARBOR  $472,030  $604,400  $730,525  $907,900
ISLAND  $575,000  $736,100  $889,800  $1,105,800
JEFFERSON  $472,030  $604,400  $730,525  $907,900
KING  $977,500  $1,251,400  $1,512,650  $1,879,850
KITSAP  $563,500  $721,400  $872,000  $1,083,650
KITTITAS  $474,950  $608,000  $734,950  $913,350
KLICKITAT  $472,030  $604,400  $730,525  $907,900
LEWIS  $472,030  $604,400  $730,525  $907,900
LINCOLN  $472,030  $604,400  $730,525  $907,900
MASON  $472,030  $604,400  $730,525  $907,900
OKANOGAN  $472,030  $604,400  $730,525  $907,900
PACIFIC  $472,030  $604,400  $730,525  $907,900
PEND OREILLE  $472,030  $604,400  $730,525  $907,900
PIERCE  $977,500  $1,251,400  $1,512,650  $1,879,850
SAN JUAN  $497,950  $637,450  $770,550  $957,600
SKAGIT  $545,100  $697,800  $843,500  $1,048,300
SKAMANIA  $672,750  $861,250  $1,041,050  $1,293,750
SNOHOMISH  $977,500  $1,251,400  $1,512,650  $1,879,850
SPOKANE  $472,030  $604,400  $730,525  $907,900
STEVENS  $472,030  $604,400  $730,525  $907,900
THURSTON  $546,250  $699,300  $845,300  $1,050,500
WAHKIAKUM  $472,030  $604,400  $730,525  $907,900
WALLA WALLA  $472,030  $604,400  $730,525  $907,900
WHATCOM  $603,750  $772,900  $934,250  $1,161,050
WHITMAN  $472,030  $604,400  $730,525  $907,900
YAKIMA  $472,030  $604,400  $730,525  $907,900

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