Oregon FHA Loan Limits & Requirements in 2023

The FHA loan limits for Oregon have just been released for 2022. What is the new loan limit, and how will that impact your home buying process?

The Federal Housing Administration (FHA) loan program offers several benefits for borrowers, including a down payment as low as 3.5%. But there are some size restrictions you should be aware of. Here’s an updated look at Oregon FHA loan limits for 2023.

Oregon FHA Loan Limits in 2023

Oregon FHA loan limits are established by the Department of Housing and Urban Development (HUD) and are based on median home prices. HUD reconsiders the limits every year and sometimes revises them. Below, you will find the 2023 FHA loan limits for all counties in Oregon. They range from $472,030 to $690,000 depending on the county.

Note: In the table below, “1-family” refers to a single-family home or condo. “Two-family” refers to a duplex-style property with two residents, and so on.

Home buyers purchasing a single-family home or condo in the state of Oregon should refer to the 1-family FHA loan limits shown below:

 

County Name1 Unit2 Units3 Units4 Units
BAKER$472,030$604,400$730,525$907,900
BENTON$560,050$716,950$866,650$1,077,050
CLACKAMAS$672,750$861,250$1,041,050$1,293,750
CLATSOP$529,000$677,200$818,600$1,017,300
COLUMBIA$672,750$861,250$1,041,050$1,293,750
COOS$472,030$604,400$730,525$907,900
CROOK$472,030$604,400$730,525$907,900
CURRY$472,030$604,400$730,525$907,900
DESCHUTES$690,000$883,300$1,067,750$1,326,950
DOUGLAS$472,030$604,400$730,525$907,900
GILLIAM$472,030$604,400$730,525$907,900
GRANT$472,030$604,400$730,525$907,900
HARNEY$472,030$604,400$730,525$907,900
HOOD RIVER$671,600$859,750$1,039,250$1,291,550
JACKSON$472,030$604,400$730,525$907,900
JEFFERSON$472,030$604,400$730,525$907,900
JOSEPHINE$472,030$604,400$730,525$907,900
KLAMATH$472,030$604,400$730,525$907,900
LAKE$472,030$604,400$730,525$907,900
LANE$671,600$859,750$1,039,250$1,291,550
LINCOLN$472,030$604,400$730,525$907,900
LINN$472,030$604,400$730,525$907,900
MALHEUR$472,030$604,400$730,525$907,900
MARION$483,000$618,300$747,400$928,850
MORROW$472,030$604,400$730,525$907,900
MULTNOMAH$672,750$861,250$1,041,050$1,293,750
POLK$483,000$618,300$747,400$928,850
SHERMAN$472,030$604,400$730,525$907,900
TILLAMOOK$472,030$604,400$730,525$907,900
UMATILLA$472,030$604,400$730,525$907,900
UNION$472,030$604,400$730,525$907,900
WALLOWA$472,030$604,400$730,525$907,900
WASCO$472,030$604,400$730,525$907,900
WASHINGTON$672,750$861,250$1,041,050$1,293,750
WHEELER$472,030$604,400$730,525$907,900
YAMHILL$672,750$861,250$1,041,050$1,293,750

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Other FHA Mortgage Requirements

In addition to the Oregon FHA loan limits shown above, there are some other requirements you should know about:

  • Borrowers must make a down payment of at least 3.5% of the purchase price or appraised value.
  • The loan-to-value (LTV) ratio cannot exceed 96.5% in most cases.
  • Borrowers must have a credit score of 580 or higher for the 3.5% down payment option.
  • Down payment funds can be gifted from a family member or other approved donor.
  • Ideally, the borrower should have a combined debt-to-income (DTI) ratio no higher than 43%. But there are some exceptions to this general rule.
  • The home must pass an appraisal conducted by an FHA-approved appraiser.
  • Condos must be on HUD’s approved condominium list.

This is a basic overview of Oregon FHA loan requirements. If you’d like to know if you’re eligible for this program, please contact our staff.

Check out our mortgage loan limit tool for conventional, FHA, and VA loans.

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