Review the table below for details of Kentucky FHA, VA and USDA 2023 loan limits. | Loan Type | Updates | | Kentucky FHA Loans | Per Mortgagee Letter 2022-20, FHA has announced the new 2023 Kentucky FHA mortgage loan limits effective for case numbers assigned on or after Jan. 1, 2023.
The Kentucky FHA Maximum Mortgage Limits on www.HUD.gov have been updated to include the new loan limits. Wait to order a case number or an appraisal until Jan. 1, 2023. - Case numbers and appraisals ordered before Jan. 1, 2023, are ineligible for 2023 loan limits.
- You cannot cancel and then pull a new case number because FHA case numbers follow the proper address of the subject property.
| FHA Low-Cost Area Mortgage Limits | | Number of Units | 2023 | 2022 | | 1 | $472,030 | $420,680 | | 2 | $604,400 | $538,650 | | 3 | $730,525 | $651,050 | | 4 | $907,900 | $809,150 |
| *FHA High-Cost Area Mortgage Limits | | Number of Units | 2023 | 2022 | | 1 | $1,089,300 | $970,800 | | 2 | $1,394,775 | $1,243,050 | | 3 | $1,685,850 | $1,502,475 | | 4 | $2,095,200 | $1,867,275 |
*Actual loan limits vary by county.
| FHA Alaska and Hawaii Mortgage Limits | | Number of Units | 2023 | 2022 | | 1 | $1,633,950 | $1,456,200 | | 2 | $2,092,150 | $1,864,575 | | 3 | $2,528,775 | $2,253,700 | | 4 | $3,142,800 | $2,800,900 |
| | Kentucky VA Loans | Previously announced and already in effect: Kentucky VA loans closing on or after Jan. 1, 2023 can use the FHFA 2023 loan limits. VA does not impose a maximum loan amount that a veteran may borrow. However, VA does impose a maximum amount that may be guaranteed: - For veterans with full entitlement, VA will guaranty 25% of any loan amount.
- For veterans with partial entitlement, the maximum amount of guaranty is the lesser of 25% of the loan amount or the applicable years conforming loan limit for a 1-unit property, reduced by the amount of the entitlement previously used by the veteran.
- If the loan is closing after 1, 2023, the partial entitlement calculation can be based on the 2023 conforming loan limits.
- If the loan is closing before Jan. 1, 2023, the partial entitlement calculation must be based on the 2022 conforming loan limits.
| | Kentucky USDA Loans | Previously announced and already in effect:
A conditional commitment with the increased loan amount is required. |
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