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- Washington, DC has a higher borrowing limit since it’s more costly than other areas in the US.
- If you plan to get an FHA or conforming mortgage in 2022, you may borrow up to $970,800 in Washington, DC.
- If you’re considering homes in Maryland or Virginia, check to see if the borrowing limit differs.
- See today’s mortgage and refinance rates in Washington, DC on Insider.
More costly areas in the US have higher mortgage borrowing limits. If you’re considering buying a home in Washington, DC — or a nearby area — this might play a notable factor in determining which type of mortgage you’ll get.
For 2022, the Federal Housing Administration mortgage borrowing limit for an FHA loan is $970,800 for a single-family home in Washington, DC. The Federal Housing Finance Agency has also set the conforming mortgage limit to $970,800.
If you need to borrow more than $970,800, you’ll have to see if you’re in good financial shape to apply for a jumbo loan.
How does the Washington, DC mortgage borrowing limit compare to nearby states?
If you’re comparing homes in Washington, DC to homes in a nearby state, check the mortgage borrowing limit for that county to make sure you’re not comparing apples to oranges. The type of mortgage you may get might be different for certain counties if the mortgage borrowing limit is lower.
Let’s say you’re planning to buy a home for around $700,000 and need a loan of $650,000 or more. In Anne Arundel County, Maryland, the FHA mortgage limit is $583,050, and the conforming mortgage limit is $647,200. This means you’ll only have the option to apply for a jumbo loan. Meanwhile, in Washington, DC, you’ll still be eligible for an FHA mortgage or conforming mortgage.
Below, we’ve gathered the FHA and conforming mortgage limits for Maryland and Virginia counties near Washington, DC. As you’ll see, the mortgage borrowing limit varies more in nearby Maryland counties than in Virginia counties.
Here are the FHA and conforming mortgage limits for eight Maryland counties near Washington, DC:
| Maryland county | FHA mortgage limit | Conforming mortgage limit |
| Anne Arundel | $583,050 | $647,200 |
| Calvert | $970,800 | $970,800 |
| Charles | $970,800 | $970,800 |
| Frederick | $970,800 | $970,800 |
| Howard | $583,050 | $647,200 |
| Montgomery | $970,800 | $970,800 |
| Prince George’s | $970,800 | $970,800 |
| St. Mary’s | $420,680 | $647,200 |
Here are the FHA and conforming mortgage limits for eight Virginia counties near Washington, DC:
| Virginia county | FHA mortgage limit | Conforming mortgage limit |
| Arlington | $970,800 | $970,800 |
| Clarke | $970,800 | $970,800 |
| Fauquier | $970,800 | $970,800 |
| Fairfax | $970,800 | $970,800 |
| Loudoun | $970,800 | $970,800 |
| Prince William | $970,800 | $970,800 |
| Stafford | $970,800 | $970,800 |
| Warren | $970,800 | $970,800 |
How to determine if an FHA, conforming, or jumbo loan is right for you
FHA mortgages are a good choice for people who are still working toward other financial goals, like paying off debt.
FHA loans have more lenient eligibility requirements than conforming loans. If you have a minimum credit score of 580 and a debt-to-income ratio under 43%, you’ll be able to qualify for an FHA mortgage with a 3.5% down payment.
Conforming mortgages are usually what most people think of as a standard mortgage. You may want to consider a conforming mortgage if the private lender charges a lower rate than what you’d get with an FHA loan.
If you’re in good financial shape and plan to buy a more expensive home in Washington, DC, you might need to get a jumbo loan.
The borrowing limit for conforming mortgages in the state is $970,800, so a jumbo mortgage will be your main option if the amount you need to borrow exceeds the borrowing limit set by the FHFA.
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