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
