2024 New Jersey FHA Loan Limits by County
FHA loan limits can vary by county and are adjusted annually based on housing market changes. FHA also has different limits based on the number of units in the home. For a 1 unit home (single family) the limits in New Jersey range from $498,257 - $1,149,825. Below are the 2024 FHA loan limits for 1- 4 unit properties in NJ for each county.
| County | 1 Unit | 2 Units | 3 Units | 4 Units |
|---|---|---|---|---|
| ATLANTIC | $498,257 | $637,950 | $771,125 | $958,350 |
| BERGEN | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| BURLINGTON | $557,750 | $714,000 | $863,100 | $1,072,600 |
| CAMDEN | $557,750 | $714,000 | $863,100 | $1,072,600 |
| CAPE MAY | $557,750 | $714,000 | $863,100 | $1,072,600 |
| CUMBERLAND | $498,257 | $637,950 | $771,125 | $958,350 |
| ESSEX | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| GLOUCESTER | $557,750 | $714,000 | $863,100 | $1,072,600 |
| HUDSON | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| HUNTERDON | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| MERCER | $498,257 | $637,950 | $771,125 | $958,350 |
| MIDDLESEX | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| MONMOUTH | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| MORRIS | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| OCEAN | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| PASSAIC | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| SALEM | $557,750 | $714,000 | $863,100 | $1,072,600 |
| SOMERSET | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| SUSSEX | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| UNION | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| WARREN | $498,257 | $637,950 | $771,125 | $958,350 |
View FHA Loan Limits for Other States
| California FHA Loan Limits | New York FHA Loan Limits |
| Connecticut FHA Loan Limits | Pennsylvania FHA Loan Limits |
| Florida FHA Loan Limits | Texas FHA Loan Limits |
How to get pre-approved for a FHA loan in New Jersey
Getting pre-approved for a FHA mortgage is quick and easy with our Online Loan Application. After completing the application, you will receive instructions on how to upload your documents. For a list of documents you will need to upload, see our Pre-approval Document Checklist.
FHA Mortgage Rates in New Jersey
View our current New Jersey FHA mortgage rates.
FHA Loan Limits FAQs
Loan limits vary because they are based on the median home prices in specific areas. This approach ensures that the amounts reflect the local real estate market, making FHA loans accessible and reasonable for homebuyers in different regions.
FHA loan limits can change annually. The Department of Housing and Urban Development (HUD) reviews and adjusts the limits each year based on movements in the housing market and home price indices.
If the home price exceeds the FHA loan limits for your county, you have a few options: consider a different home that falls within the loan limits, make a larger down payment to cover the difference, or look into different types of financing, such as a conventional mortgage or a jumbo loan.
See our FHA Loan Requirements for more information on how to qualify for a FHA loan.
No, there are no income limits for obtaining an FHA loan. However, borrowers must meet debt-to-income (DTI) ratio guidelines and prove their ability to repay the loan. Typically, FHA guidelines require a DTI ratio of 57% or less.
No, FHA loans do not have prepayment penalties. Borrowers can make additional payments or pay off their FHA loans early without facing any financial penalties.