Aleutians West Census Area, AK FHA Loan Limits

Last Updated: Thu, December 28, 2017

FHA Loan Limits — Aleutians West Census Area, AK

$385,250 1 Living-Unit
$493,200 2 Living-Units
$596,150 3 Living-Units
$740,850 4 Living-Units

Frannie/Freddie (Conventional) Loan Limits — Aleutians West Census Area, AK

$679,650 1 Living-Unit
$870,225 2 Living-Units
$1,051,875 3 Living-Units
$1,307,175 4 Living-Units

HECM Loan Limits — Aleutians West Census Area, AK

$679,650 All Home Sizes
2018 Alaska High Cost Limits

Local Loan Limits — Aleutians West Census Area, AK

Loan Limit Summary

Limits for FHA Loans in Aleutians West Census Area, Alaska range from $385,250 for 1 living-unit homes to $740,850 for 4 living-units. Conventional Loan Limits in Aleutians West Census Area are $679,650 for 1 living-unit homes to $1,307,175 for 4 living-units. The 2018 Home Equity Conversion Mortgage (HECM) limits in Aleutians West Census Area is $679,650. 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. Aleutians West Census Area has high cost limits to compensate for above average housing prices. Limits in Aleutians West Census Area are above the 2018 national floor.

FHA Home Appraisal in Aleutians West Census Area

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 Aleutians West Census Area. If you need a home inspector, click here to find FHA-approved inspectors in Aleutians West Census Area.

VA Loan Limits in Aleutians West Census Area

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 2018 VA Loan Limit for Aleutians West Census Area, AK is $385,250.

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

Additional Resources

How to qualify for an FHA Loan in Aleutians West Census Area, Alaska?

The minimum loan amount in Aleutians West Census Area is $5,000 dollars and may go up to $740,850 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 Aleutians West Census Area.

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

Cities and ZIP Codes in Aleutians West Census Area

The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Aleutians West Census Area which includes the following cities: Dutch Harbor, Unalaska, Adak, Atka, Saint George Island, Nikolski, and Saint Paul Island.

Aleutians West Census Area loan limits also apply to the following ZIP codes: 99692, 99685, 99546, 99547, 99591, 99638, and 99660.

Citation

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


** Document Provided By FHALoans.guide **
Source: https://fhaloans.guide/loan-limits/alaska/aleutians-west-census-area