Skagway Municipality, AK FHA Loan Limits

Last Updated: Wed, January 2, 2019

FHA Loan Limits — Skagway Municipality, AK

$415,150 1 Living-Unit
$531,450 2 Living-Units
$642,400 3 Living-Units
$798,350 4 Living-Units

Fannie/Freddie (Conventional) Loan Limits — Skagway Municipality, 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 — Skagway Municipality, AK

$726,525 All Home Sizes
2019 Alaska High Cost Limits

Local Loan Limits — Skagway Municipality, AK

Loan Limit Summary

Limits for FHA Loans in Skagway Municipality, Alaska range from $415,150 for 1 living-unit homes to $798,350 for 4 living-units. Conventional Loan Limits in Skagway Municipality 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 Skagway Municipality 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. Skagway Municipality has high cost limits to compensate for above average housing prices. Limits in Skagway Municipality are above the 2019 national floor.

FHA Home Appraisal in Skagway 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 Skagway Municipality. If you need a home inspector, click here to find FHA-approved inspectors in Skagway Municipality.

VA Loan Limits in Skagway 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 2019 VA Loan Limit for Skagway Municipality, AK is $415,150.

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

Additional Resources

How to qualify for an FHA Loan in Skagway Municipality, Alaska?

The minimum loan amount in Skagway Municipality is $5,000 dollars and may go up to $798,350 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 Skagway 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 Skagway Municipality

The FHA Limits, HECM Loan Limits, and Conforming Loan Limits listed on this page apply to Skagway Municipality which includes the following cities: and Skagway.

Skagway Municipality loan limits also apply to the following ZIP codes: and 99840.

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/skagway-municipality