Northwest Arctic Borough, AK FHA Loan Limits

Last Updated: Wed, January 2, 2019

FHA Loan Limits — Northwest Arctic Borough, AK

$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 — Northwest Arctic Borough, AK

$726,525 1 Living-Unit
$930,300 2 Living-Units
$1,124,475 3 Living-Units
$1,397,400 4 Living-Units

HECM Loan Limits — Northwest Arctic Borough, AK

$726,525 All Home Sizes
2019 Alaska Standard Limits

Local Loan Limits — Northwest Arctic Borough, AK

Loan Limit Summary

Limits for FHA Loans in Northwest Arctic Borough, Alaska range from $314,827 for 1 living-unit homes to $605,525 for 4 living-units. Conventional Loan Limits in Northwest Arctic 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 Northwest Arctic 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. Northwest Arctic Borough has standard limits which means loan limits are equal to the 2019 national floor.

FHA Home Appraisal in Northwest Arctic 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 Northwest Arctic Borough. If you need a home inspector, click here to find FHA-approved inspectors in Northwest Arctic Borough.

VA Loan Limits in Northwest Arctic 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 Northwest Arctic Borough, AK 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 Northwest Arctic Borough, Alaska?

The minimum loan amount in Northwest Arctic Borough 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 Northwest Arctic 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 Northwest Arctic Borough

The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Northwest Arctic Borough which includes the following cities: Kotzebue, Buckland, Kiana, Kivalina, Kobuk, Noatak, Noorvik, Selawik, and Ambler.

Northwest Arctic Borough loan limits also apply to the following ZIP codes: 99752, 99727, 99749, 99750, 99751, 99761, 99763, 99770, and 99786.

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/northwest-arctic-borough