New, Higher 2022 FHA Loan Limits in Miami, Miami FHA-Approved Condos

New, Higher 2022 FHA Loan Limits in Miami, Miami FHA-Approved Condos

Jan 31, 2022 January 31, 2022

The news for first-time condo and home buyers wanting low down payments keeps getting better. The new 2022 FHA loans have higher limits than previous years that allow buyers to purchase a new home or condo with just 3.5 - 10% down, depending on credit score, the loan type, and sometimes more flexible loan terms than conventional loans. 

A previously revised policy also allows for certain individual condo units to be eligible for FHA loans, even if the condo building is not FHA approved. 

FHA loans are federally insured mortgages, and because they are insured, lenders provide excellent rates for first-time buyers and those with no or less-than-perfect credit histories.

"The increase in loan limits, commensurate with the increase in home prices, will allow qualified individuals and families to continue to access FHA-insured mortgages to achieve affordable home financing," said Lopa Kolluri, principal deputy assistant secretary for housing and FHA.


2022 FHA Forward Loan Limits in Miami-Dade County & Broward County

(Includes areas CondoBlackBook.com tracks such as: Miami, Downtown Miami, Brickell, Miami Beach, Key Biscayne, etc.)

One-Family

(Homes & Condos)

Two-Family

(Duplexes)

Three-Family

(Triplex)

Four-Family (Four-plex)

Last Revised

2022 FHA Forward LOAN LIMITS (eff. Jan 1, 2022)

$420,680

$538,650

$651,050

$809,150

12/5/2021

2021 FHA Forward LOAN LIMITS

$356,362

$456,275

$551,500

$685,400

1/1/2021

2020 FHA Forward LOAN LIMITS

$331,760

$424,800

$513,450

$638,100

1/1/2020


Miami-Area FHA Forward Approved Condos

Condo Building

Address

City

Neighborhood

Expiration

Spear at Aqua 

6103 AQUA AVE

Miami Beach 

Mid-Beach 

1/26/2025

Key Colony II

251 Crandon Blvd

Key Biscayne

Key Biscayne

10/26/2024

Hallmark of Hollywood

3800 S. Ocean Dr

Hollywood

Hollywood Beach

11/4/2023

The Venetian

1 Las Olas Circle

Fort Lauderdale

Las Olas, Fort Lauderdale

7/30/2024


2022 Fannie Mae Loan Amounts Increased Almost 18%

What’s even better is that the FHA loan amounts for Fannie Mae and Freddy Mac loans have also significantly increased for 2022. Given the increase in housing prices nationwide, the FHA has increased the maximum loan amount in many cities. In Miami-Dade, the 2022 FHA Fanny Mae maximum loan limit for single families (including condos) has gone up to $647,200 from 2021’s $548,250, approximately an 18% increase over last year. 


2022  Fannie Mae & Freddy Mac Loan Limits in Miami-Dade County & Broward County

(Includes areas CondoBlackBook.com tracks such as: Miami, Downtown Miami, Brickell, Miami Beach, Key Biscayne, etc.)

One-Family

(Homes & Condos)

Two-Family

(Duplexes)

Three-Family

(Triplex)

Four-Family (Four-plex)

Last Revised

2022 Fannie Mae LOAN LIMITS (eff. Jan 1, 2022)

$647,200

$828,700

$1,100,650

$1,224,850

12/5/2021

2021 Fannie Mae LOAN LIMITS

$548,250

$702,000

$848,500

$1,054,500

1/1/2021

2020 Fannie Mae LOAN LIMITS

$510,400

$653,550

$789,950

$789,950

1/1/2020


To search FHA’s 2022 loan limits,
go here, or go to their FHA Mortgage Loan Limits page.  To search for FHA approved condos by county, check their condo search page.


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If you are looking to purchase a condo in Miami or Fort Lauderdale using the FHA program, please contact us to discuss your condo interests and FHA lender options!

Cover photo by Hector Falcon on Unsplash
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