Ketchikan Gateway Borough, AK FHA Loan Limits

Last Updated: Thu, December 28, 2017

FHA Loan Limits — Ketchikan Gateway Borough, AK

$338,100 1 Living-Unit
$432,800 2 Living-Units
$523,200 3 Living-Units
$650,200 4 Living-Units

Frannie/Freddie (Conventional) Loan Limits — Ketchikan Gateway Borough, 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 — Ketchikan Gateway Borough, AK

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

Local Loan Limits — Ketchikan Gateway Borough, AK

Loan Limit Summary

Limits for FHA Loans in Ketchikan Gateway Borough, Alaska range from $338,100 for 1 living-unit homes to $650,200 for 4 living-units. Conventional Loan Limits in Ketchikan Gateway Borough 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 Ketchikan Gateway Borough 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. Ketchikan Gateway Borough has high cost limits to compensate for above average housing prices. Limits in Ketchikan Gateway Borough are above the 2018 national floor.

FHA Home Appraisal in Ketchikan Gateway Borough

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 Ketchikan Gateway Borough. If you need a home inspector, click here to find FHA-approved inspectors in Ketchikan Gateway Borough.

VA Loan Limits in Ketchikan Gateway Borough

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 Ketchikan Gateway Borough, AK is $338,100.

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

Additional Resources

How to qualify for an FHA Loan in Ketchikan Gateway Borough, Alaska?

The minimum loan amount in Ketchikan Gateway Borough is $5,000 dollars and may go up to $650,200 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 Ketchikan Gateway Borough.

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

Cities and ZIP Codes in Ketchikan Gateway Borough

The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Ketchikan Gateway Borough which includes the following cities: Ketchikan, and Ward Cove.

Ketchikan Gateway Borough loan limits also apply to the following ZIP codes: 99901, 99928, and 99950.

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/alaska/ketchikan-gateway-borough