Anchorage Municipality, AK FHA Loan Limits
Local Loan Limits — Anchorage Municipality, AK
Loan Limit Summary
Limits for FHA Loans in Anchorage Municipality, Alaska range from $396,750 for 1 living-unit homes to $763,000 for 4 living-units. Conventional Loan Limits in Anchorage Municipality 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 Anchorage Municipality 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. Anchorage Municipality has high cost limits to compensate for above average housing prices. Limits in Anchorage Municipality are above the 2018 national floor.
FHA Home Appraisal in Anchorage Municipality
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 Anchorage Municipality. If you need a home inspector, click here to find FHA-approved inspectors in Anchorage Municipality.
VA Loan Limits in Anchorage Municipality
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 Anchorage Municipality, AK is $396,750.
How to qualify for an FHA Loan in Anchorage Municipality, Alaska?
The minimum loan amount in Anchorage Municipality is $5,000 dollars and may go up to $763,000 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 Anchorage Municipality.
Additionally, your loan amount cannot exceed the value of home you are purchasing. Learn more about FHA Loan Requirements.
Cities and ZIP Codes in Anchorage Municipality
The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Anchorage Municipality which includes the following cities: Anchorage, Eagle River, Chugiak, Jber, Girdwood, and Indian.
Anchorage Municipality loan limits also apply to the following ZIP codes: 99504, 99507, 99508, 99577, 99502, 99515, 99516, 99517, 99503, 99501, 99518, 99567, 99506, 99505, 99511, 99524, 99509, 99587, 99523, 99514, 99522, 99520, 99521, 99510, 99519, 99513, 99540, 99599, and 99695.