Matanuska-Susitna Borough, AK FHA Loan Limits
Local Loan Limits — Matanuska-Susitna Borough, AK
Loan Limit Summary
Limits for FHA Loans in Matanuska-Susitna Borough, Alaska range from $401,350 for 1 living-unit homes to $771,850 for 4 living-units. Conventional Loan Limits in Matanuska-Susitna Borough are $726,525 for 1 living-unit homes to $1,397,400 for 4 living-units. The 2019 Home Equity Conversion Mortgage (HECM) limits in Matanuska-Susitna Borough 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. Matanuska-Susitna Borough has high cost limits to compensate for above average housing prices. Limits in Matanuska-Susitna Borough are above the 2019 national floor.
FHA Home Appraisal in Matanuska-Susitna 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 Matanuska-Susitna Borough. If you need a home inspector, click here to find FHA-approved inspectors in Matanuska-Susitna Borough.
VA Loan Limits in Matanuska-Susitna 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 2019 VA Loan Limit for Matanuska-Susitna Borough, AK is $401,350.
How to qualify for an FHA Loan in Matanuska-Susitna Borough, Alaska?
The minimum loan amount in Matanuska-Susitna Borough is $5,000 dollars and may go up to $771,850 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 Matanuska-Susitna 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 Matanuska-Susitna Borough
The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Matanuska-Susitna Borough which includes the following cities: Wasilla, Palmer, Big Lake, Willow, Talkeetna, Sutton, Houston, Skwentna, and Trapper Creek.