Advertiser Disclosure

News

How to Prepare Yourself for the Next Recession

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Anyone who lived through a recession knows that it can cause financial pain, no matter your level of wealth or employment status. This means that preparing for a recession is always the right move for your financial well-being.

It’s been more than 10 years since the Great Recession ended, which marked the close of the longest economic contraction since the Great Depression of the 1930s. Over the past decade, we have seen the longest economic expansion in U.S. history.

Many people wonder how much longer the current economic expansion will last and when the next recession might arrive. It’s impossible to know, so you should start to prepare for the next recession today.

How to prepare for a recession

The best way to prepare for a recession is to monitor and improve your financial health while the economic outlook remains positive. The list of things you should do to improve your finances isn’t long, and making solid financial plans isn’t a complicated formula.

“It’s the same advice you should generally always be following,” said Tendayi Kapfidze, chief economist at LendingTree, MagnifyMoney’s parent company. “The world is a risky place, and income is not always guaranteed. You should always be doing things to shore up your finances.”

8 things you can do to prepare for a recession

1. Build up your emergency fund

“The main challenge a recession creates is it could create some interruption to your income,” Kapfidze said. To protect yourself from a decline in income or a job loss, you should have enough money to pay at least three months of expenses stashed in your emergency fund — six if you have children.

Wherever you keep your emergency fund — in a savings account with a bricks-and-mortar bank, an online savings account or even a money market account — the most important thing is to keep the fund liquid. You don’t want to be forced to pull money out of the stock market during a recession.

According to Dennis Nolte, a certified financial planner who works for commission and fees in Winter Park, Fla., if you’re young and financially secure, you might consider investing part of your emergency fund in a Roth IRA. You can withdraw contributions from a Roth IRA at any time without paying tax penalties. You have to leave earned interest in the account, however, because withdrawing interest would trigger penalties.

2. Pay down debt

As a recession looms, one key strategy to protect yourself is to pay down debt. This helps to increase the amount of extra liquidity you have on hand when a recession hits.

“This is the best risk management tool,” Nolte said. He suggested that you prioritize paying off high-interest credit card debt.

In addition to directing available funds to pay off debt, consider refinancing or consolidating your debt at lower interest rates. This can reduce how much you pay in interest, decrease your monthly bills and increase the funds available for saving or paying down even more debt.

3. Review your investing strategy

It’s important not to let a looming recession dictate your investing decisions. In other words, don’t try to time the stock market. Instead, prepare for a recession by maintaining good habits at all times: Build a deliberate investing strategy, and stick with it.

“The best thing people can do now is verify that their portfolio is appropriate for them,” said Angela Dorsey, a fee-only certified financial planner based in Torrance, Calif. “If it’s too risky, you should make changes now.”

Determine that you have the right investment mix

Over the past few years, many people invested aggressively in equities as the stock market climbed higher and higher. Now, it’s time to ask yourself how you would feel if the market fell 20% in one year.

Be honest: If you believe that you can tolerate a loss of this magnitude, stick to your plan when the market falls, and stay on course. You should hold on to your investments particularly if you’re young, because time is on your side, and you’ll have lots of time to recover losses in a stock-heavy portfolio.

Dorsey recommends that you rebalance your portfolio if it strays too far from your strategic allocation, or mix of stocks, bonds and other securities.

Kapfidze agrees. “You want to have a balanced portfolio that meets your long-term goals,” he advised. That should be the goal regardless of where we are in the economic cycle.

For example, your plan might be to have 70% of your investments in stocks and 30% in bonds. The market has gone up, so a larger percentage of your portfolio now might be in stocks, say 75%. So, you should rebalance your portfolio — sell stocks and buy bonds — to reach your goal of 70% stocks and 30% bonds.

Change your strategy for peace of mind

Your portfolio should be appropriate for your risk tolerance. If you’re nervous about an economic downturn and believe that big losses in your retirement savings would keep you up at night, the time to reallocate is now.

Consider the strategy above: 70% in stocks and 30% in bonds. If you believe that you couldn’t endure a huge drop in the equity markets, now might be the time to change your allocation to, say, 50% stocks and 50% bonds. Just don’t wait for the market to tank to change it up, though.

“When you’re not emotional about it, when it’s not free falling like it did in 2008 or in 2001, 2002, you can make some adjustments,” said Scott Bishop, a fee-only certified financial planner in Houston. That’s because now “you can see if there [are] some flaws in your portfolio that might be subject to market risk by lack of diversification.”

4. Diversify your income with a side gig

When we think of diversification, we tend to focus on our investment allocation, but the idea can and should be applied to sources of income as well. Because a loss of income is one of the biggest threats during a recession, having multiple income streams can help to lessen the effect from a reduction in income or a job loss.

Millions of Americans have a side gig. If you don’t, now could be an excellent time to consider one. Do some research and identify a side gig you can pick up now to protect yourself against potential income reductions later.

5. Reduce your living expenses

Don’t wait for a recession. Now is the time to trim the fat in your spending. Review your recurring fixed monthly payments as well as your discretionary spending. See what you can eliminate, and reduce or downgrade services that aren’t vital to your household. Consider becoming conservative with your discretionary spending in favor of stocking up cash and paying down debt.

6. Assess your current job and employer

When you prepare for a recession, don’t monitor only national economic conditions: Take a closer look at circumstances close to home.

“Understand how well your employer is doing financially, because that may help you better assess your risk,” Kapfidze said. Trends in your company and your industry affect you more directly than what happens on a national level.

Employees of public businesses can stay abreast of company and industry happenings by listening to their company’s earnings calls.

In addition to knowing the state of your company, employees should find ways to insulate themselves against a potential job loss. Kapfidze suggested taking steps to increase your value to your company in your current role, such as increasing your knowledge and skills and taking on additional responsibilities.

7. Set aside cash for short-term goals

If you have money invested in the market for short-term goals, such as repairing your roof or buying a car, it’s time to shift gears. That money should be kept in an interest-bearing account, so it won’t be influenced by the stock market.

“[This] should be the case anyway,” Dorsey said. “But over the last few years, people have gotten a little too ambitious and say, ‘Oh gosh, I want to buy a house in five years, so let’s be super aggressive and put it all in stock, so it can grow.’ They can grow, but they can also go down.”

8. Don’t let fear drive your decisions

Recessions can be difficult, frightening times. A common pattern that financial planners see is that people act based on emotions and fears.

“When they are emotional, people tend to buy on greed when the market’s going high and sell on fear when the market’s going down,” Bishop said. “If you’re buying high and selling low, you’re doing exactly the opposite of what you need to do to make money in the market.”

A recession is a normal part of economic life. With your retirement savings, you have to keep a long-term perspective, because another economic expansion will arrive after a recession ends.

The bottom line: Don’t panic or allow your emotions to get in the way when the next recession hits. Instead, prepare for it now, and you’ll breathe easy later.

Recession FAQs

A recession is when the economy contracts, or gets smaller, for an extended period. Recessions are part of the economic cycle, and they’re followed by a period of economic expansion.

One marker of a recession is six consecutive months of negative gross domestic product (GDP). GDP measures the market value of all goods and services produced by the U.S. economy. However, six months of negative GDP isn’t the only determining factor for a recession.

The National Bureau of Economic Research (NBER), which designates recessions, also looks at real income, employment, industrial production and wholesale-retail sales.

Since 1945, recessions lasted 11 months on average. However, they can extend significantly longer. The Great Recession, for instance, lasted 18 months. History shows that the United States experiences a recession roughly every six years.

Although recent recessions last 11 months on average, consumers and businesses feel a recession’s effects for years or even decades afterward. Long-term unemployment or reduced wages can affect individuals and families in multiple ways.

For example, if a family no longer can afford to send their kids to college because of a job loss or depleted savings, the missed educational opportunity for that child can affect their earning potential and their future family.

In the last recession, many people lost their home to foreclosure, a blow to their personal finances that can take years to recover from. Long-term unemployment not only has a financial effect, but also an emotional one as well.

Plus, reduced earnings mean reduced buying and fewer dollars rotating in our economy, which results in further lost opportunities for consumers and businesses alike.

Trying to time a recession isn’t something the average person should try to do, Kapfidze said. “Professionals try to do that, and they lose money every day.”

Nevertheless, a recession can provide an excellent opportunity to buy assets at “discounted” prices. Kapfidze suggested waiting until the economy shows signs of recovery before you take the plunge, because trying to predict the bottom of the market also is risky.

“Don’t try to catch a falling knife, because you might grab it by the blade instead of the handle,” he warned.

“There are various things you can look at to assess the risk of recession,” Kapfidze said. One is the yield curve, which measures the difference between long-term and short-term interest rates. A lot of discussion about the risk of a recession in 2019 centered on the yield curve, but that chatter has died down.

“[That] doesn’t mean the recession risk is materially lower,” Kapfidze explained. “It’s probably a bit lower, but it could still happen within six to 18 months. That’s a pretty wide window.” Of course, there’s no guarantee that a recession will happen in that time frame. “Recently, the economy has looked a little bit better than it did a few months ago.”

Things can change rapidly. Earlier this year, the sentiment was negative, Kapfidze pointed out. “It can turn positive pretty quickly, and it can turn a little more negative pretty quickly.”

Again, Kapfidze stressed that instead of focusing on the timing of the next recession, consumers should take prudent steps to firm up their finances. “That increases the odds of success and certainly is way less stressful than trying to figure out where I am in the business cycle and what are the odds of a recession.”

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Advertiser Disclosure

Mortgage

2019 FHA Loan Limits in Nebraska

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

In 2019, FHA limits for a single-family home in the Cornhusker State range from $314,827 to $433,550. If you’re looking to purchase a home in Nebraska with an FHA loan, the odds of finding one within those limits are pretty favorable. Estimated median home prices in the majority of the state’s counties sit around or below the $200,000 mark.

This means you’re likely to find an affordable home in Nebraska whether you’re looking for a place in the city or you’d prefer to settle in a more rural part of the state.

See Mortgage Rate Quotes for Your Home

See RatesSee RatesSee RatesTerms Apply. NMLS ID# 1136

By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

Home prices in Nebraska have risen significantly in the past two years, even more so than the national average. While price increases have been most notable outside of the state’s metro areas, home values in Lincoln — the state capital and second largest city after Omaha — saw an 8.4% increase from 2017 to 2018, higher than the country’s average increase of 4%.

Yet, even with rising prices, median prices within the state fall below the standard FHA limit of $314,827. Only three counties in Nebraska — Lincoln, Logan and McPherson — are considered “high-cost,” warranting a higher limit. Their FHA loan limit is $433,550.

Nebraska FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADAMS$314,827 $403,125 $487,250 $605,525 $100,000
ANTELOPE$314,827 $403,125 $487,250 $605,525 $50,000
ARTHUR$314,827 $403,125 $487,250 $605,525 $113,000
BANNER$314,827 $403,125 $487,250 $605,525 $142,000
BLAINE$314,827 $403,125 $487,250 $605,525 $141,000
BOONE$314,827 $403,125 $487,250 $605,525 $115,000
BOX BUTTE$314,827 $403,125 $487,250 $605,525 $110,000
BOYD$314,827 $403,125 $487,250 $605,525 $21,000
BROWN$314,827 $403,125 $487,250 $605,525 $53,000
BUFFALO$314,827 $403,125 $487,250 $605,525 $172,000
BURT$314,827 $403,125 $487,250 $605,525 $60,000
BUTLER$314,827 $403,125 $487,250 $605,525 $119,000
CASS$314,827 $403,125 $487,250 $605,525 $205,000
CEDAR$314,827 $403,125 $487,250 $605,525 $122,000
CHASE$314,827 $403,125 $487,250 $605,525 $106,000
CHERRY$314,827 $403,125 $487,250 $605,525 $135,000
CHEYENNE$314,827 $403,125 $487,250 $605,525 $126,000
CLAY$314,827 $403,125 $487,250 $605,525 $53,000
COLFAX$314,827 $403,125 $487,250 $605,525 $76,000
CUMING$314,827 $403,125 $487,250 $605,525 $90,000
CUSTER$314,827 $403,125 $487,250 $605,525 $85,000
DAKOTA$314,827 $403,125 $487,250 $605,525 $175,000
DAWES$314,827 $403,125 $487,250 $605,525 $88,000
DAWSON$314,827 $403,125 $487,250 $605,525 $125,000
DEUEL$314,827 $403,125 $487,250 $605,525 $81,000
DIXON$314,827 $403,125 $487,250 $605,525 $175,000
DODGE$314,827 $403,125 $487,250 $605,525 $127,000
DOUGLAS$314,827 $403,125 $487,250 $605,525 $205,000
DUNDY$314,827 $403,125 $487,250 $605,525 $78,000
FILLMORE$314,827 $403,125 $487,250 $605,525 $83,000
FRANKLIN$314,827 $403,125 $487,250 $605,525 $67,000
FRONTIER$314,827 $403,125 $487,250 $605,525 $63,000
FURNAS$314,827 $403,125 $487,250 $605,525 $69,000
GAGE$314,827 $403,125 $487,250 $605,525 $79,000
GARDEN$314,827 $403,125 $487,250 $605,525 $32,000
GARFIELD$314,827 $403,125 $487,250 $605,525 $102,000
GOSPER$314,827 $403,125 $487,250 $605,525 $125,000
GRANT$314,827 $403,125 $487,250 $605,525 $58,000
GREELEY$314,827 $403,125 $487,250 $605,525 $73,000
HALL$314,827 $403,125 $487,250 $605,525 $147,000
HAMILTON$314,827 $403,125 $487,250 $605,525 $147,000
HARLAN$314,827 $403,125 $487,250 $605,525 $93,000
HAYES$314,827 $403,125 $487,250 $605,525 $106,000
HITCHCOCK$314,827 $403,125 $487,250 $605,525 $65,000
HOLT$314,827 $403,125 $487,250 $605,525 $30,000
HOOKER$314,827 $403,125 $487,250 $605,525 $86,000
HOWARD$314,827 $403,125 $487,250 $605,525 $147,000
JEFFERSON$314,827 $403,125 $487,250 $605,525 $85,000
JOHNSON$314,827 $403,125 $487,250 $605,525 $89,000
KEARNEY$314,827 $403,125 $487,250 $605,525 $172,000
KEITH$314,827 $403,125 $487,250 $605,525 $90,000
KEYA PAHA$314,827 $403,125 $487,250 $605,525 $105,000
KIMBALL$314,827 $403,125 $487,250 $605,525 $92,000
KNOX$314,827 $403,125 $487,250 $605,525 $55,000
LANCASTER$314,827 $403,125 $487,250 $605,525 $174,000
LINCOLN$433,550 $555,000 $670,900 $833,750 $163,000
LOGAN$433,550 $555,000 $670,900 $833,750 $163,000
LOUP$314,827 $403,125 $487,250 $605,525 $158,000
MADISON$314,827 $403,125 $487,250 $605,525 $145,000
MCPHERSON$433,550 $555,000 $670,900 $833,750 $163,000
MERRICK$314,827 $403,125 $487,250 $605,525 $147,000
MORRILL$314,827 $403,125 $487,250 $605,525 $94,000
NANCE$314,827 $403,125 $487,250 $605,525 $90,000
NEMAHA$314,827 $403,125 $487,250 $605,525 $70,000
NUCKOLLS$314,827 $403,125 $487,250 $605,525 $63,000
OTOE$314,827 $403,125 $487,250 $605,525 $110,000
PAWNEE$314,827 $403,125 $487,250 $605,525 $32,000
PERKINS$314,827 $403,125 $487,250 $605,525 $110,000
PHELPS$314,827 $403,125 $487,250 $605,525 $93,000
PIERCE$314,827 $403,125 $487,250 $605,525 $145,000
PLATTE$314,827 $403,125 $487,250 $605,525 $145,000
POLK$314,827 $403,125 $487,250 $605,525 $113,000
RED WILLOW$314,827 $403,125 $487,250 $605,525 $80,000
RICHARDSON$314,827 $403,125 $487,250 $605,525 $79,000
ROCK$314,827 $403,125 $487,250 $605,525 $74,000
SALINE$314,827 $403,125 $487,250 $605,525 $78,000
SARPY$314,827 $403,125 $487,250 $605,525 $205,000
SAUNDERS$314,827 $403,125 $487,250 $605,525 $205,000
SCOTTS BLUFF$314,827 $403,125 $487,250 $605,525 $142,000
SEWARD$314,827 $403,125 $487,250 $605,525 $174,000
SHERIDAN$314,827 $403,125 $487,250 $605,525 $87,000
SHERMAN$314,827 $403,125 $487,250 $605,525 $94,000
SIOUX$314,827 $403,125 $487,250 $605,525 $142,000
STANTON$314,827 $403,125 $487,250 $605,525 $145,000
THAYER$314,827 $403,125 $487,250 $605,525 $76,000
THOMAS$314,827 $403,125 $487,250 $605,525 $137,000
THURSTON$314,827 $403,125 $487,250 $605,525 $84,000
VALLEY$314,827 $403,125 $487,250 $605,525 $99,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $205,000
WAYNE$314,827 $403,125 $487,250 $605,525 $113,000
WEBSTER$314,827 $403,125 $487,250 $605,525 $20,000
WHEELER$314,827 $403,125 $487,250 $605,525 $133,000
YORK$314,827 $403,125 $487,250 $605,525 $100,000

How are FHA loan limits calculated?

Each year, the Federal Housing Administration establishes limits for FHA mortgages to reflect current home values. Loan limits are based on the guidelines in place for conforming loans. Conforming loans are mortgages that meet requirements set by Fannie Mae and Freddie Mac.

The FHA establishes a “floor,” the highest loan amount for low-cost areas. For single-family homes, the 2019 floor is $314,827. The FHA also sets a “ceiling,” the maximum loan amount allowed in high-cost areas. The ceiling in 2019 is $726,525.

In 2019, the standard FHA limits nationwide are as follows:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

For high-cost areas, limits are higher:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Are you eligible for an FHA loan in Nebraska?

The price of the home you are purchasing is just one piece of the puzzle when determining if you qualify for an FHA loan and whether it’s the best type of mortgage for you. You should also consider the amount you plan to put down, your credit history, and other essential factors.

To find out more about FHA loans, including eligibility requirements, take a look at our extensive guide to FHA loans.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

Advertiser Disclosure

Mortgage

2019 FHA Loan Limits in Georgia

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

iStock

Home prices in the U.S. have been on the rise. For buyers looking to purchase a home with an Federal Housing Administration (FHA) loan, that could mean having to find a different form of financing. Fortunately, FHA loan limits are assessed and adjusted annually to keep up with the trends in home prices.

In 2019, FHA loan limits for a single-family home in Georgia range from $314,827, the standard limit in place for most of the country, to $515,200 in designated “high-cost” counties.

See Mortgage Rate Quotes for Your Home

See RatesSee RatesSee RatesTerms Apply. NMLS ID# 1136

By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

The housing market in most of Georgia is considered “affordable,” current home price trends notwithstanding. Median prices in most of the state fall below $235,000, the estimated average for a U.S. home in late 2018, according to the National Association of Realtors. Even the state’s capital and largest city, Atlanta, has one of the nation’s lowest cost-of-living indexes among large metro areas.

Georgia’s affordability is good news for FHA buyers and their likelihood of finding a property within loan limits. Of the state’s 159 counties, 79% have the standard loan limit of $314,827 in place. For the remaining high-cost counties, only a single county — Greene — has a limit above $400,000, at $515,200 for single-family dwellings. By comparison, the national conforming loan limit for mortgages that follow Fannie Mae and Freddie Mac guidelines increased to $484,350 for 2019.

Naturally, FHA loans are a popular choice for buyers in the Peach State. In 2018, 4.64% of the nation’s FHA loans came from Georgia, a significant percentage for a single state.

Georgia FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
APPLING$314,827 $403,125 $487,250 $605,525 $40,000
ATKINSON$314,827 $403,125 $487,250 $605,525 $35,000
BACON$314,827 $403,125 $487,250 $605,525 $40,000
BAKER$314,827 $403,125 $487,250 $605,525 $148,000
BALDWIN$314,827 $403,125 $487,250 $605,525 $131,000
BANKS$314,827 $403,125 $487,250 $605,525 $130,000
BARROW$379,500 $485,800 $587,250 $729,800 $330,000
BARTOW$379,500 $485,800 $587,250 $729,800 $330,000
BEN HILL$314,827 $403,125 $487,250 $605,525 $55,000
BERRIEN$314,827 $403,125 $487,250 $605,525 $64,000
BIBB$314,827 $403,125 $487,250 $605,525 $124,000
BLECKLEY$314,827 $403,125 $487,250 $605,525 $75,000
BRANTLEY$314,827 $403,125 $487,250 $605,525 $214,000
BROOKS$314,827 $403,125 $487,250 $605,525 $135,000
BRYAN$314,827 $403,125 $487,250 $605,525 $234,000
BULLOCH$314,827 $403,125 $487,250 $605,525 $141,000
BURKE$314,827 $403,125 $487,250 $605,525 $192,000
BUTTS$379,500 $485,800 $587,250 $729,800 $330,000
CALHOUN$314,827 $403,125 $487,250 $605,525 $43,000
CAMDEN$314,827 $403,125 $487,250 $605,525 $152,000
CANDLER$314,827 $403,125 $487,250 $605,525 $65,000
CARROLL$379,500 $485,800 $587,250 $729,800 $330,000
CATOOSA$314,827 $403,125 $487,250 $605,525 $179,000
CHARLTON$314,827 $403,125 $487,250 $605,525 $49,000
CHATHAM$314,827 $403,125 $487,250 $605,525 $234,000
CHATTAHOOCHEE$314,827 $403,125 $487,250 $605,525 $213,000
CHATTOOGA$314,827 $403,125 $487,250 $605,525 $60,000
CHEROKEE$379,500 $485,800 $587,250 $729,800 $330,000
CLARKE$341,550 $437,250 $528,500 $656,800 $297,000
CLAY$314,827 $403,125 $487,250 $605,525 $72,000
CLAYTON$379,500 $485,800 $587,250 $729,800 $330,000
CLINCH$314,827 $403,125 $487,250 $605,525 $27,000
COBB$379,500 $485,800 $587,250 $729,800 $330,000
COFFEE$314,827 $403,125 $487,250 $605,525 $69,000
COLQUITT$314,827 $403,125 $487,250 $605,525 $70,000
COLUMBIA$314,827 $403,125 $487,250 $605,525 $192,000
COOK$314,827 $403,125 $487,250 $605,525 $48,000
COWETA$379,500 $485,800 $587,250 $729,800 $330,000
CRAWFORD$314,827 $403,125 $487,250 $605,525 $124,000
CRISP$314,827 $403,125 $487,250 $605,525 $80,000
DADE$314,827 $403,125 $487,250 $605,525 $179,000
DAWSON$379,500 $485,800 $587,250 $729,800 $330,000
DECATUR$314,827 $403,125 $487,250 $605,525 $90,000
DEKALB$379,500 $485,800 $587,250 $729,800 $330,000
DODGE$314,827 $403,125 $487,250 $605,525 $54,000
DOOLY$314,827 $403,125 $487,250 $605,525 $40,000
DOUGHERTY$314,827 $403,125 $487,250 $605,525 $148,000
DOUGLAS$379,500 $485,800 $587,250 $729,800 $330,000
EARLY$314,827 $403,125 $487,250 $605,525 $40,000
ECHOLS$314,827 $403,125 $487,250 $605,525 $135,000
EFFINGHAM$314,827 $403,125 $487,250 $605,525 $234,000
ELBERT$314,827 $403,125 $487,250 $605,525 $53,000
EMANUEL$314,827 $403,125 $487,250 $605,525 $41,000
EVANS$314,827 $403,125 $487,250 $605,525 $60,000
FANNIN$314,827 $403,125 $487,250 $605,525 $170,000
FAYETTE$379,500 $485,800 $587,250 $729,800 $330,000
FLOYD$314,827 $403,125 $487,250 $605,525 $114,000
FORSYTH$379,500 $485,800 $587,250 $729,800 $330,000
FRANKLIN$314,827 $403,125 $487,250 $605,525 $95,000
FULTON$379,500 $485,800 $587,250 $729,800 $330,000
GILMER$314,827 $403,125 $487,250 $605,525 $125,000
GLASCOCK$314,827 $403,125 $487,250 $605,525 $51,000
GLYNN$314,827 $403,125 $487,250 $605,525 $214,000
GORDON$314,827 $403,125 $487,250 $605,525 $128,000
GRADY$314,827 $403,125 $487,250 $605,525 $70,000
GREENE$515,200 $659,550 $797,250 $990,800 $295,000
GWINNETT$379,500 $485,800 $587,250 $729,800 $330,000
HABERSHAM$314,827 $403,125 $487,250 $605,525 $140,000
HALL$314,827 $403,125 $487,250 $605,525 $199,000
HANCOCK$314,827 $403,125 $487,250 $605,525 $131,000
HARALSON$379,500 $485,800 $587,250 $729,800 $330,000
HARRIS$314,827 $403,125 $487,250 $605,525 $213,000
HART$314,827 $403,125 $487,250 $605,525 $130,000
HEARD$379,500 $485,800 $587,250 $729,800 $330,000
HENRY$379,500 $485,800 $587,250 $729,800 $330,000
HOUSTON$314,827 $403,125 $487,250 $605,525 $136,000
IRWIN$314,827 $403,125 $487,250 $605,525 $62,000
JACKSON$314,827 $403,125 $487,250 $605,525 $192,000
JASPER$379,500 $485,800 $587,250 $729,800 $330,000
JEFF DAVIS$314,827 $403,125 $487,250 $605,525 $53,000
JEFFERSON$314,827 $403,125 $487,250 $605,525 $36,000
JENKINS$314,827 $403,125 $487,250 $605,525 $43,000
JOHNSON$314,827 $403,125 $487,250 $605,525 $75,000
JONES$314,827 $403,125 $487,250 $605,525 $124,000
LAMAR$379,500 $485,800 $587,250 $729,800 $330,000
LANIER$314,827 $403,125 $487,250 $605,525 $135,000
LAURENS$314,827 $403,125 $487,250 $605,525 $75,000
LEE$314,827 $403,125 $487,250 $605,525 $148,000
LIBERTY$314,827 $403,125 $487,250 $605,525 $153,000
LINCOLN$314,827 $403,125 $487,250 $605,525 $192,000
LONG$314,827 $403,125 $487,250 $605,525 $153,000
LOWNDES$314,827 $403,125 $487,250 $605,525 $135,000
LUMPKIN$314,827 $403,125 $487,250 $605,525 $163,000
MACON$314,827 $403,125 $487,250 $605,525 $54,000
MADISON$341,550 $437,250 $528,500 $656,800 $297,000
MARION$314,827 $403,125 $487,250 $605,525 $213,000
MCDUFFIE$314,827 $403,125 $487,250 $605,525 $192,000
MCINTOSH$314,827 $403,125 $487,250 $605,525 $214,000
MERIWETHER$379,500 $485,800 $587,250 $729,800 $330,000
MILLER$314,827 $403,125 $487,250 $605,525 $75,000
MITCHELL$314,827 $403,125 $487,250 $605,525 $48,000
MONROE$314,827 $403,125 $487,250 $605,525 $124,000
MONTGOMERY$314,827 $403,125 $487,250 $605,525 $80,000
MORGAN$379,500 $485,800 $587,250 $729,800 $330,000
MURRAY$314,827 $403,125 $487,250 $605,525 $125,000
MUSCOGEE$314,827 $403,125 $487,250 $605,525 $213,000
NEWTON$379,500 $485,800 $587,250 $729,800 $330,000
OCONEE$341,550 $437,250 $528,500 $656,800 $297,000
OGLETHORPE$341,550 $437,250 $528,500 $656,800 $297,000
PAULDING$379,500 $485,800 $587,250 $729,800 $330,000
PEACH$314,827 $403,125 $487,250 $605,525 $136,000
PICKENS$379,500 $485,800 $587,250 $729,800 $330,000
PIERCE$314,827 $403,125 $487,250 $605,525 $65,000
PIKE$379,500 $485,800 $587,250 $729,800 $330,000
POLK$314,827 $403,125 $487,250 $605,525 $86,000
PULASKI$314,827 $403,125 $487,250 $605,525 $136,000
PUTNAM$314,827 $403,125 $487,250 $605,525 $185,000
QUITMAN$314,827 $403,125 $487,250 $605,525 $96,000
RABUN$314,827 $403,125 $487,250 $605,525 $167,000
RANDOLPH$314,827 $403,125 $487,250 $605,525 $47,000
RICHMOND$314,827 $403,125 $487,250 $605,525 $192,000
ROCKDALE$379,500 $485,800 $587,250 $729,800 $330,000
SCHLEY$314,827 $403,125 $487,250 $605,525 $76,000
SCREVEN$314,827 $403,125 $487,250 $605,525 $39,000
SEMINOLE$314,827 $403,125 $487,250 $605,525 $47,000
SPALDING$379,500 $485,800 $587,250 $729,800 $330,000
STEPHENS$314,827 $403,125 $487,250 $605,525 $100,000
STEWART$314,827 $403,125 $487,250 $605,525 $45,000
SUMTER$314,827 $403,125 $487,250 $605,525 $76,000
TALBOT$314,827 $403,125 $487,250 $605,525 $83,000
TALIAFERRO$314,827 $403,125 $487,250 $605,525 $41,000
TATTNALL$314,827 $403,125 $487,250 $605,525 $60,000
TAYLOR$314,827 $403,125 $487,250 $605,525 $45,000
TELFAIR$314,827 $403,125 $487,250 $605,525 $33,000
TERRELL$314,827 $403,125 $487,250 $605,525 $148,000
THOMAS$314,827 $403,125 $487,250 $605,525 $138,000
TIFT$314,827 $403,125 $487,250 $605,525 $115,000
TOOMBS$314,827 $403,125 $487,250 $605,525 $80,000
TOWNS$314,827 $403,125 $487,250 $605,525 $155,000
TREUTLEN$314,827 $403,125 $487,250 $605,525 $31,000
TROUP$314,827 $403,125 $487,250 $605,525 $126,000
TURNER$314,827 $403,125 $487,250 $605,525 $51,000
TWIGGS$314,827 $403,125 $487,250 $605,525 $124,000
UNION$314,827 $403,125 $487,250 $605,525 $129,000
UPSON$314,827 $403,125 $487,250 $605,525 $64,000
WALKER$314,827 $403,125 $487,250 $605,525 $179,000
WALTON$379,500 $485,800 $587,250 $729,800 $330,000
WARE$314,827 $403,125 $487,250 $605,525 $65,000
WARREN$314,827 $403,125 $487,250 $605,525 $31,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $53,000
WAYNE$314,827 $403,125 $487,250 $605,525 $70,000
WEBSTER$314,827 $403,125 $487,250 $605,525 $18,000
WHEELER$314,827 $403,125 $487,250 $605,525 $56,000
WHITE$314,827 $403,125 $487,250 $605,525 $136,000
WHITFIELD$314,827 $403,125 $487,250 $605,525 $125,000
WILCOX$314,827 $403,125 $487,250 $605,525 $28,000
WILKES$314,827 $403,125 $487,250 $605,525 $61,000
WILKINSON$314,827 $403,125 $487,250 $605,525 $20,000
WORTH$314,827 $403,125 $487,250 $605,525 $148,000

How are FHA loan limits calculated?

Limits for FHA loans are established by the FHA annually to cap the dollar amount of mortgages it will insure. Loan limits are based in part on estimated median home prices in a particular area, as well as on the limits in place for conforming loans. The FHA sets a “floor,” the lowest limit, and a “ceiling,” the maximum amount allowed.

Loan limits are established for single-family as well as multi-family homes. In 2019, the standard FHA limits are as follows:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

In designated high-cost areas, limits are higher:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Georgia?

With low down payment requirements and flexible borrower criteria, FHA loans can be a great financing option for many homebuyers, especially first-time buyers. But there are several factors to consider when financing with an FHA loan. Find out all you need to know, including eligibility requirements and the pros and cons, in our guide to FHA loans.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.