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Summary: The FHA loan limits for Oregon have just been released for 2020. What is the new loan limit, and how will that impact your home buying process? This article will address these questions.

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 2020.

Oregon FHA Loan Limits in 2020

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 2020 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 Name1-Unit 2-Unit 3-Unit4-Unit
BAKER$331,760$424,800$513,450$638,100
BENTON$402,500$515,250$622,850$774,050
CLACKAMAS$491,050$628,600$759,850$944,350
CLATSOP$345,000$441,650$533,850$663,450
COLUMBIA$491,050$628,600$759,850$944,350
COOS$331,760$424,800$513,450$638,100
CROOK$331,760$424,800$513,450$638,100
CURRY$331,760$424,800$513,450$638,100
DESCHUTES$431,250$552,050$667,350$829,350
DOUGLAS$331,760$424,800$513,450$638,100
GILLIAM$331,760$424,800$513,450$638,100
GRANT$331,760$424,800$513,450$638,100
HARNEY$331,760$424,800$513,450$638,100
HOOD RIVER$477,250$610,950$738,500$917,800
JACKSON$333,500$426,950$516,050$641,350
JEFFERSON$331,760$424,800$513,450$638,100
JOSEPHINE$331,760$424,800$513,450$638,100
KLAMATH$331,760$424,800$513,450$638,100
LAKE$331,760$424,800$513,450$638,100
LANE$331,760$424,800$513,450$638,100
LINCOLN$331,760$424,800$513,450$638,100
LINN$331,760$424,800$513,450$638,100
MALHEUR$331,760$424,800$513,450$638,100
MARION$342,700$438,700$530,300$659,050
MORROW$331,760$424,800$513,450$638,100
MULTNOMAH$491,050$628,600$759,850$944,350
POLK$342,700$438,700$530,300$659,050
SHERMAN$331,760$424,800$513,450$638,100
TILLAMOOK$331,760$424,800$513,450$638,100
UMATILLA$331,760$424,800$513,450$638,100
UNION$331,760$424,800$513,450$638,100
WALLOWA$331,760$424,800$513,450$638,100
WASCO$331,760$424,800$513,450$638,100
WASHINGTON$491,050$628,600$759,850$944,350
WHEELER$331,760$424,800$513,450$638,100
YAMHILL$491,050$628,600$759,850$944,350


Live Oregon Mortgage Rates Jan, 27, Mon, 2020

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.

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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Sammamish Mortgage is a local mortgage company serving the broader Pacific Northwest region, including Washington state, Idaho, Colorado, and Oregon. We are proud to offer a wide variety of mortgage programs and products with flexible qualification criteria. Please contact us if you have any questions or are ready to apply for a home loan.

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