FHA Loan Limit in King County increased for 2023

[Matthew Kwan]

For 2023, FHA loan limits in King County are increased in response to rising prices in the county.

For King County, the FHA loan limit for a 

single-family home is $977,500 for 2023.

Two-family property: $1,251,400

Three-family property: $1,512,650

Four-family property: $1,879,850

Any thoughts on this and how are you doing to utilize and qualify with FHA? For 3-4 units do you think it would pass the SS (self-sufficient) test?

[Albert Bui]

Quote from @Nathan Harden:

Matthew,

Thank you for sharing this! I'm down in Pierce County but have done deals in King so this is a super useful tool when moving forward!

The loan limits offer way more borrowing power in pierce and snohomish however it doesnt distinguish from the fact that its still huge for king county too.

Also dont forget you can get conventional 5% down on 2-4 unit owner occ too on home possible Freddie Mac conventional. They increased the income limits to around 100k which is somewhat realistic compared to prior it was like 60-70k which was not enough to even qualify for anything realistically in pierce except for rural pierce or far east side/Roy/Yelm/thruston county etc.