West Blocton, AL FHA Loan Limits

Last Updated: Wed, January 2, 2019

FHA Loan Limits — West Blocton, AL

$314,827 1 Living-Unit
$403,125 2 Living-Units
$487,250 3 Living-Units
$605,525 4 Living-Units

Fannie/Freddie (Conventional) Loan Limits — West Blocton, AL

$484,350 1 Living-Unit
$620,200 2 Living-Units
$749,650 3 Living-Units
$931,600 4 Living-Units

HECM Loan Limits — West Blocton, AL

$726,525 All Home Sizes
2019 Alabama Standard Limits

Local Loan Limits — West Blocton, AL

Loan Limit Summary

Limits for FHA Loans in West Blocton, Alabama range from $314,827 for 1 living-unit homes to $605,525 for 4 living-units. Conventional Loan Limits in West Blocton are $484,350 for 1 living-unit homes to $931,600 for 4 living-units. The 2019 Home Equity Conversion Mortgage (HECM) limits in West Blocton is $726,525. HECM limit does not depend on the size of the home.

FHA and conventional Loan limits vary based on the number of living-units on the property. FHA loans are only allowed on 1 to 4 living-unit properties. West Blocton has standard limits which means loan limits are equal to the 2019 national floor.

FHA Home Appraisal in West Blocton

To see if a home qualifies for an FHA loan, the property must be appraised by an approved FHA appraiser. Find FHA-approved appraisers in West Blocton. If you need a home inspector, click here to find FHA-approved inspectors in West Blocton.

VA Loan Limits in West Blocton

VA Loans are not insured the same way FHA loans are. With VA loans the Department of Veterans Affairs guarantees the loan on the veteran's behalf. But there is still a cap. The VA uses the 1 living-unit FHA Loan Limit as its cap on VA Loan Liability. The 2019 VA Loan Limit for West Blocton, AL is $314,827.

To lean more about VA Loans and how to qualify, click here.

Additional Resources

How to qualify for an FHA Loan in West Blocton, Alabama?

The minimum loan amount in West Blocton is $5,000 dollars and may go up to $605,525 depending on home size and loan type. In order to qualify for an FHA loan, you must be planning to live in the home. Although a loan can include some renovation costs, FHA loans cannot be used for real estate investments in West Blocton.

Additionally, your loan amount cannot exceed the value of home you are purchasing. Learn more about FHA Loan Requirements.

Cities and ZIP Codes in Bibb County

The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Bibb County which includes the following cities: Centreville, West Blocton, Brent, Woodstock, Brierfield, Randolph, Green Pond, and Lawley.

Bibb County loan limits also apply to the following ZIP codes: 35042, 35184, 35034, 35188, 35035, 36792, 35074, and 36793.

Citation

Data sourced from the Department of Housing and Urban Development (HUD.GOV). If you notice an error on this page, please contact us.


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Source: https://fhaloans.guide/loan-limits/alabama/west-blocton