Oregon FHA Loan Limits & Requirements in 2021

The FHA loan limits for Oregon have just been released for 2021. 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 2021.

Oregon FHA Loan Limits in 2021

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 2021 FHA loan limits for all counties in Oregon.

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 Name 1 Unit 2 Units 3 Units 4 Units
BAKER $356,362 $456,275 $551,500 $685,400
BENTON $430,100 $550,600 $665,550 $827,100
CLACKAMAS $517,500 $662,500 $800,800 $995,200
CLATSOP $379,500 $485,800 $587,250 $729,800
COLUMBIA $517,500 $662,500 $800,800 $995,200
COOS $356,362 $456,275 $551,500 $685,400
CROOK $356,362 $456,275 $551,500 $685,400
CURRY $356,362 $456,275 $551,500 $685,400
DESCHUTES $460,000 $588,850 $711,800 $884,600
DOUGLAS $356,362 $456,275 $551,500 $685,400
GILLIAM $356,362 $456,275 $551,500 $685,400
GRANT $356,362 $456,275 $551,500 $685,400
HARNEY $356,362 $456,275 $551,500 $685,400
HOOD RIVER $477,250 $610,950 $738,500 $917,800
JACKSON $356,500 $456,350 $551,650 $685,550
JEFFERSON $356,362 $456,275 $551,500 $685,400
JOSEPHINE $356,362 $456,275 $551,500 $685,400
KLAMATH $356,362 $456,275 $551,500 $685,400
LAKE $356,362 $456,275 $551,500 $685,400
LANE $356,362 $456,275 $551,500 $685,400
LINCOLN $356,362 $456,275 $551,500 $685,400
LINN $356,362 $456,275 $551,500 $685,400
MALHEUR $356,362 $456,275 $551,500 $685,400
MARION $368,000 $471,100 $569,450 $707,700
MORROW $356,362 $456,275 $551,500 $685,400
MULTNOMAH $517,500 $662,500 $800,800 $995,200
POLK $368,000 $471,100 $569,450 $707,700
SHERMAN $356,362 $456,275 $551,500 $685,400
TILLAMOOK $356,362 $456,275 $551,500 $685,400
UMATILLA $356,362 $456,275 $551,500 $685,400
UNION $356,362 $456,275 $551,500 $685,400
WALLOWA $356,362 $456,275 $551,500 $685,400
WASCO $356,362 $456,275 $551,500 $685,400
WASHINGTON $517,500 $662,500 $800,800 $995,200
WHEELER $356,362 $456,275 $551,500 $685,400
YAMHILL $517,500 $662,500 $800,800 $995,200

Live Oregon Mortgage Rates Aug, 03, Tue, 2021

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.

Want to Apply for the Program?

Do you plan to buy a home in Oregon? Interested in the FHA program? We can help. Sammamish Mortgage has proudly served the Pacific Northwest for more than 20 years. We are a family-owned mortgage company offering highly competitive rates and great service.

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