Category Archives: Maryland FHA Loans

Maryland FHA Loan Limits for 2015

Maryland FHA Loan Limits for 2015

Maryland FHA Loan Limits for 2015 were announced by the Federal Housing Administration (FHA) on December 5, 2014 and will be effective for FHA case numbers assigned on or after January 1, 2015 and will remain in effect until December 31, 2015.  The announcement was made in the FHA mortgage letter 14-25.  If you would like to apply for a Maryland FHA Loan or have questions or concerns on FHA Loans, please call our office at 410-412-3319 or you can apply online at Maryland FHA Mortgage Application

The FHA Loan Limits in Maryland are based on the county that the property is located and the number of units for the property from 1 to 4 units.  The maximum loan amount is calculated using 115% of the median home price for that county as calculated by HUD.  The minimum loan limit for any county is still at $271,050.  The maximum FHA Loan Limit is also remaining at $625,000  There are seven counties in Maryland that will have higher FHA Loan limits in 2015 and they are the following:

Number of Units                  1 Unit                2 Unit              3 Unit                  4 Unit

Anne Arundel County      $517,500           $662,500          $800,800             $995,200
Baltimore County            $517,500           $662,500          $800,800             $995,200
Baltimore City                 $517,500           $662,500          $800,800             $995,200
Carrol County                  $517,500           $662,500          $800,800             $995,200
Harford County                $517,500           $662,500          $800,800             $995,200
Howard County               $517,500           $662,500          $800,800             $995,200
Queen Anne’s County      $517,500           $662,500          $800,800             $995,200

The other counties in Maryland will have the same FHA Loan Limit as in 2014 for 2015.  Those counties are listed below with their maximum loan limits:

Number of Units                  1 Unit                 2 Unit               3 Unit                   4 Unit

Allegany County              $271,050            $347,000          $419,425              $521,250

Calvert County                 $625,500            $800,775          $967,950              $1,202,925

Caroline County               $271,050            $347,000          $419,425              $521,250

Cecil County                    $379,500            $485,800          $587,250              $729,800

Charles County                $625,500            $800,775          $967,950              $1,202,925

Dorchester County           $271,050            $347,000          $419,425              $521,250

Frederick County             $625,500            $800,775          $967,950              $1,202,925

Garrett County                 $271,050            $347,000          $419,425              $521,250

Kent County                     $290,250            $372,450          $450,200              $559,500

Montgomery County        $625,500            $800,775          $967,950              $1,202,925

Prince George’s County  $625,500            $800,775          $967,950              $1,202,925

Somerset County             $316,250            $404,850          $489,350              $608,150

St. Mary’s County             $347,300            $444,600          $537,400             $667,900

Talbot County                  $382,950            $490,250          $592,600              $736,450

Washington County         $271,050            $347,000          $419,425              $521,250

Wicomico County            $316,250            $404,850          $489,350              $608,150

Worcester County           $316,250            $404,850          $489,350              $608,150

The new loan limits for 2015 apply to all FHA Loan types including FHA 203k Rehab Loans, FHA Streamline Refinances, FHA Reverse Mortgage Loans and FHA One Time Close Construction Loans.

If you would like to apply for a FHA Loan to purchase or refinance a home in Maryland please call our office at 410-412-3319 or you can get started online at Maryland FHA Loan Application

John R. Thomas
Loan Officer – FHA, VA & USDA Specialist – NMLS – 38783
Primary Residential Mortgage, Inc.
Maryland Mortgage Company
1220A E Joppa Rd
Towson, MD 21286
410-412-3319 MD Office
302-703-0727 DE Office
610-906-3109 PA Office
http://www.PrimaryResidentialMortgage.info

FHA Back to Work Program for Maryland Home Buyers

FHA Back to Work Program for Maryland Home Buyers

FHA Back to Work Program allows Maryland Home Buyers that experienced a financial hardship to reduce the wait time for getting a new mortgage from 2-3 years down to only 1 year from the date of the event.  FHA announced the Program in August 2013 to allow mortgage lenders to help families and individuals toContinue Reading