Delaware FHA Loan Limits for 2015
Delaware FHA Loan Limits for 2015 Announced by Federal Housing Administration on December 5, 2014, in the mortgage letter 2014-25. The mortgage loan limits published in this mortgage letter go into effect for FHA case numbers assigned on or after January 1, 2015, and will remain in effect through December 31, 2015.
The FHA Loan Limits are based on which county the property is located. The maximum mortgage loan limit per county in Delaware for 2015 is as follows:
New Castle County $379,500
Kent County $271,050
Sussex County $316,750
The FHA Loan Limit is calculated by taking 115% of the median home price in that county as calculated by HUD. The “floor” still remains at $271,050 so if 115% of the median home price is below the floor then the loan limit is set at $271,050 such as in Kent County, Delaware.
FHA also left the maximum FHA Loan Limit in high price areas at $625,500.
If you would like to apply for an FHA Loan to purchase or refinance a home in Delaware, call the John Thomas Team at 302-703-0727 or you can apply online at FHA Loan Application
The new loan limits apply to all FHA Loans including FHA 230k Rehab Loans and FHA Streamline Refinance Loans as well FHA Reverse mortgage loans.
John R. Thomas – NMLS 38783
Certified Mortgage Planner – Primary Residential Mortgage, Inc.
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
248 E Chestnut Hill Rd, Newark, DE 19713