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When you miss a mortgage payment, you incur late fees and hurt your credit score. But skipping mortgage payments comes with serious consequences that could include losing your house. Are you finding it hard to make your monthly mortgage payment? This allows you to pause your mortgage payments for a certain amount of time or, in some cases, make reduced payments instead. FAQsWhat should I do first if I realize I can't make my mortgage payment?

Persons: Craig Martin, Christian Mills, Freddie Mac, you've, you'll, it's, Aly J, Yale Aly J, Bob Organizations: Christian, US Department of Housing, Urban, Chevron, Yale, Forbes, Money Magazine, The Dallas Morning News, Bob Schieffer College of Communication, Twitter

☆ New home sales fell last month as mortgage rates hit 2023 high
▼ + stars: | 2023-11-27 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —New home sales in the United States fell in October as typical mortgage rates reached their highest levels this year. This was below analysts’ expectations of an annualized sales pace of 723,000. The average mortgage rate for that loan has been lower recently, dropping down to 7.29% last week, according to Freddie Mac. New home builders often offer more financing options for homebuyers, she said, and are able to “buy down” mortgage rates to make their offerings more attractive than the resale market. With [mortgage] interest rates anticipated to drop in the coming year, more resale homes may go on the market – however there remains significant pent-up demand from buyers,” Mangold said.

Persons: Freddie Mac, ”, Kelly Mangold, ” Mangold, “ Organizations: DC CNN, US Department of Housing, Urban Development, Census, Federal Reserve, Real Estate Consulting, homebuyers Locations: Washington, United States

☆ Living in a ski town sounds like a dream. But the reality is crushingly expensive.
▼ + stars: | 2023-11-19 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Ski towns are so expensive that workers struggle to afford local housing and stay in their jobs. Vail, Colorado has spent $17 million paying homeowners to rent to local workers, according to the Wall Street Journal. The typical home value in Breckenridge was $1.1 million in October, while in Vail, 40 miles west, it was $1.6 million, according to Zillow. He told Business Insider earlier this year that the worker exodus from Vail has forced his business to stop offering lunch some days. Advertisement"Teachers, like myself, want to stay here in the community, but doing so requires the stability that homeownership can offer," Weibel told Business Insider.

Persons: —, Callie Kuchan, Business Insider's Jordan Pandy, Kuchan, Pandy, Vail, George Ruther, Ruther, he's, Paul Anders, Anders, Allison Weibel, Weibel Organizations: Wall Street, Service, Business, Street Journal, US Department of Housing, Urban, Policy Development, Research, Vail Daily, Vail Locations: Vail , Colorado, Breckenridge , Colorado, Illinois, Chicago, Breckenridge, Vail, Aspen, , Montana

☆ US new home sales surged in September
▼ + stars: | 2023-10-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —New home sales in the United States surged higher in September from the month before, even as mortgage rates remained over 7%, making financing a home costlier and pushing people out of the market. This represents the fastest pace of sales since February 2022 and easily exceeds analysts’ expectations of a sales pace of 680,000. Sales of existing homes have been trending down since February and are down 20% year to date in September from a year ago. While new home sales are a much smaller share of the overall sales market than existing home sales, the inventory picture is rosier for new construction homes. This represents a supply of 6.9 months at the current sales pace.

Persons: Freddie Mac, ”, Kelly Mangold, Mangold Organizations: DC CNN, United States, US Department of Housing, Urban Development, Census, Federal Reserve, Real Estate Consulting, National Association of Realtors Locations: Washington, United, “

☆ Opinion: My journey from a homeless shelter to the ballet stage
▼ + stars: | 2023-10-02 | by ( Opinion Steven Melendez | ) edition.cnn.com time to read: +6 min

Editor’s Note: Steven Melendez is artistic director of New York Theatre Ballet and a subject of the new documentary film “LIFT,” available on Apple and Amazon. He was born in the Bronx, New York, and has danced as a soloist with Ballet Concierto in Argentina, a principal dancer with the Vanemuine Theater Ballet Company in Estonia, and for more than 15 years with New York Theatre Ballet. CNN —Thirty years ago, I lived in a family homeless shelter in New York City, where dreams and struggles often do battle. The LIFT program did not simply introduce me to ballet; it transformed my life. New York Theatre BalletThe rigorous training demands unwavering commitment, punctuality and the relentless pursuit of perfection.

Persons: Steven Melendez, Steven Melendez Rachel Neville, Diana Byer, Jacques d’Amboise, Talent Organizations: New York Theatre Ballet, Apple, Concierto, Vanemuine Theater Ballet Company, CNN, New York Theatre, US Department of Housing, Urban Development, Harvard Joint Center for Housing Studies, Coalition, York Theatre Ballet, National Dance Institute Locations: Bronx , New York, Argentina, Estonia, New York City, Bronx, America

☆ Your next apartment could be someone's old cubicle as developers rush to convert empty offices
▼ + stars: | 2023-08-27 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +9 min

The mayor of New York City aims to turn old office buildings into 20,000 new apartments. The Manhattan-based architect John Cetra, who has worked on office conversions since the 1980s, calls it "the amenity war." His firm, CetraRuddy, recently announced it's leading the conversion of a 30-story office building, formerly home to Goldman Sachs, in Manhattan's financial district. Adams' goal is to create up to 20,000 new homes for 40,000 New Yorkers in converted office buildings over the next decade. AdvertisementAdvertisementNew York City has already had some success in converting office buildings to homes.

Persons: you'll, they've, everyone's, Steven Paynter, we've, John Cetra, it's, Goldman Sachs, Cetra, Eric Adams, Paynter, He's, who's, Adams, We've, Dan Garodnick, Mark Hogan, Hogan, Charles Bloszies, I've, that's, Bloszies, Garodnick, Arpit Gupta Organizations: Service, CetraRuddy, York, US Department of Housing, Urban Development, Yorkers, New York City's Department of City Planning, San Francisco, Supervisors, New York Stock Exchange, NYU Stern School of Business, Research Locations: New York City, Wall, Silicon, York, San Francisco, Manhattan, Toronto, Calgary , Alberta, York City, Francisco, New York

☆ New home sales rose to a 17-month high in July
▼ + stars: | 2023-08-23 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —New home sales rose in July from the month before, beating estimates and reaching a 17-month high, as buyers continue to look to new construction as an option in the face of a historically low supply of existing homes. While new home sales have been trending higher over the past year, sales of existing homes have been down for the past few months. Sales in the Midwest surged 47.4% from a month ago and sales in the West were up 21.5% from June. Meanwhile, sales in the Northeast declined by 2.9% from last month and dropped by 6.3% in the South. “When existing homes are hard to find, new homes at the right price are a good substitute.”

Persons: Kelly Mangold, ”, George Ratiu, Odeta Kushi Organizations: DC CNN, US Department of Housing, Urban Development, Census, Real Estate Consulting, ”, Midwest, National Association of Realtors, “ Builders, Builders, First Locations: Washington, –

☆ New home sales dropped in June after May’s surge
▼ + stars: | 2023-07-26 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Homeowners with ultra-low mortgage rates are reluctant to sell and buy another home at a much higher mortgage rate. Sales of existing homes have been down for the past few months, while new home sales have been rising. This increase in mortgage rates cooled mortgage applications. New home sales boosted by low inventory of existing homesAlthough sales were down from May, the trajectory of new home sales is generally positive, said Kelly Mangold of RCLCO Real Estate Consulting. By comparison, the inventory of existing homes for sale at the end of June was only a little over 1 million homes.

Persons: Freddie Mac, Kelly Mangold, “ Buyers, ” Mangold, ”, George Ratiu, Charlotte , Organizations: DC CNN, US Department of Housing, Urban Development, Census, Real Estate Consulting, “, National Association of Realtors Locations: Washington, Houston, Dallas, Atlanta, Charlotte, Charlotte , North Carolina, Austin , Texas, Orlando , Florida, Southern

☆ A historic settlement could bring environmental justice to a Chicago neighborhood that's been filled with polluting industries
▼ + stars: | 2023-07-21 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +8 min

"If you take away our health, you take away our wealth," Sanchez, a community planning manager at the Southeast Environmental Task Force, told Insider. The first-of-its-kind settlement with HUD could be a model for environmental justice advocates in other cities. If the city didn't agree to address environmental harms, it risked losing hundreds of millions of dollars in federal housing money. "Now all levels of city government have to listen to us and develop policies that are protective of public health." Sanchez said the case underscored the importance of updating city policies, because administrations come and go.

Persons: Oscar Sanchez, Sanchez, polluters, Robert Weinstock, who's, he's, Cheryl Johnson, Johnson, Jamie Kelter Davis, Weinstock, Brandon Johnson, Charles Rex Arbogast, Angela Tovar Organizations: Service, Environmental, Force, US Department of Housing, Urban Development, Northwestern University's Pritzker School of Law, Urban, Community, Factories, Washington, Getty, Chicago AP Locations: Chicago's, Chicago, Lincoln Park, Black, Calumet

Non-resident homebuyers will either need to get an ITIN mortgage or pay in cash to buy a home. ITIN mortgages for individuals without Social Security numbersITIN mortgages allow borrowers to use their ITINs to apply for a mortgage. ITIN mortgages offer a path to homeownership for individuals without the documentation to qualify for a conforming mortgage. Many ITIN lenders require a down payment of at least 20%, and ITIN mortgage rates are often significantly higher compared to rates on conforming mortgages. According to Aguirre, a person getting an ITIN mortgage could end up paying as much as $500 more on their monthly mortgage payment than someone getting a comparable conforming mortgage, thanks to the higher rates that come with an ITIN mortgage.

Persons: homebuyers, I'm, Nora Aguirre, she's, they've, Aguirre, you've Organizations: Service, Migration Policy Institute, Taxation, National Association of Hispanic Real Estate Professionals, Social, Internal Revenue Service, US Department of Housing, Urban Development Locations: Wall, Silicon, Nevada, United States

☆ $104,400 classes as a 'low' income for a single-person household in San Francisco, California's housing department says
▼ + stars: | 2023-06-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

$104,400 is a "low" income in San Francisco County, according to California's housing department. Such a salary classes as a "low'" income in San Francisco County, according to California's Department of Housing and Community Development. In San Francisco County, the median income for a one-person household is listed as $122,500, per California's housing department. Making $18,400 a year is an "acutely low" income, $39,150 is "extremely low," $65,350 is "very low," and $104,400 is "low." Marin County, which is directly north of San Francisco County, and San Mateo County, to the south, both have the same income limits.

Persons: — Organizations: Service, California's Department of Housing, Community, Fox Business, US Department of Housing, Urban, Survey, Stanford University, San, US Bureau of Labor Statistics, Census Locations: San Francisco County, Mississippi, San Francisco, Marin County, San Mateo County, Santa Clara, Jose, Google's, Palo Alto, New York City, Jersey City, San Francisco's

Washington, DC CNN —New home sales surged in May, as buyers looked to new construction as an alternative to the low inventory of existing homes for sale. Homeowners with ultra-low mortgage rates are reluctant to sell and buy another home at a much higher rate. Sales of existing homes have been down for the past few months, while new home sales have been rising. Mortgage rates reached as high as 6.79% at the end of May as uncertainty moved through the financial industry due to the debt ceiling standoff. This increase in mortgage rates cooled mortgage applications.

Persons: “, ”, Nancy Vanden Houten, Ryan Sweet, Eugenio Aleman, Raymond James, ” Aleman Organizations: DC CNN, US Department of Housing, Urban Development, Census Bureau, Oxford Economics, Federal Reserve Locations: Washington, Northeast, South, West

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

☆ New home sales rise for the fourth month in a row
▼ + stars: | 2023-04-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —New home sales rose in March, climbing for the fourth month in a row as mortgage rates eased and buyers looked to new construction as an alternative to the tight inventory of existing homes for sale. Sales of new single‐family houses were at a seasonally adjusted annual rate of 683,000, up from a revised 623,000 in February. After climbing through much of February, mortgage rates were as high as 6.73% March. In a bit of a setback for buyers, prices of new homes rose from February, the report showed. This is a supply of 7.6 months at the current sales pace, down from 8.2 months of supply last month.

☆ A real-estate investor with a 311-unit portfolio shares a recession-proof strategy she's using that all but guarantees she receives market-value rent payments
▼ + stars: | 2023-04-19 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Anne Curry has a sizable real-estate portfolio of 311 units, much of it consisting of multifamily properties. But there's a recession-proof route that Curry and other landlords take: rent to low-income tenants with a voucher for rent, also known as Section 8 recipients. "If you were going to rent a unit out for, let's say $1,800, just market rate, to anyone...to get highest market rent, sometimes you need to do more on the remodel," she said. "Section 8 pays around market regardless of whether everything is completely rehabbed like you would if you were going to try to get highest market rent." Curry also recently discovered that there are grants for affordable housing landlords to update properties that are below living standards.

☆ New home sales rose for the third month in a row
▼ + stars: | 2023-03-23 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —New home sales rose in February, climbing for the third month in a row as mortgage rates eased off their highs of the past year and buyers looked to new construction amid historically low inventory of existing homes for sale. Sales of new single‐family houses were at a seasonally adjusted annual rate of 640,000, up from a revised 633,000 in January. In a bit of a setback for buyers, prices of new homes rose from January. The median price for a new home rose to $438,200 in February, up from $427,500 the previous month. This is a supply of 8.2 months at the current sales rate.

If you're in debt or need help with your taxes, you can often get free help. Some situations may require the help of a financial advisor, and a fee-only advisor can be a good choice. Whether you simply don't want to pay for a help or are unable to, there's good news: Expensive professional help isn't the only way to solve your financial problems. The National Foundation for Credit Counseling provides credit counseling for any income level. Investing for retirementThe Financial Planning Association allows financial planners to provide free advice for families experiencing cancer, households needing help after COVID-19, and more.

☆ New home sales rise as prices drop in January
▼ + stars: | 2023-02-24 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

CNN —New home sales rose in January from December, as mortgage rates eased off their highs of the past year at the start of 2023. Sales of new single‐family houses were at a seasonally adjusted annual rate of 670,000 last month, up from a revised 625,000 in December. Mortgage rates eased in January and ended the month nearly a point lower than they were at the beginning of November when they topped 7%. But in addition to volatile mortgage rates, another challenge for many buyers has been finding homes on the market to buy. “The backlog of new construction homes continues to emerge into the market just in time for the spring shopping season,” she said.

The HUD is cutting annual mortgage insurance premiums on FHA mortgages from 0.85% to 0.55% for most new borrowers. The new FHA mortgage insurance rates are set to go into effect on March 20. But in March, FHA borrowers will be able to take advantage of lower annual mortgage insurance rates. New FHA MIP chartThese lower annual MIP rates will be available to those getting a new FHA mortgage on or after March 20, 2023. When getting an FHA mortgage, borrowers pay both an upfront and annual mortgage insurance fee.

☆ Low-income renters are frustrated by Biden's new plan to make housing more affordable because they don't think it does enough to combat surging rents
▼ + stars: | 2023-02-04 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

The White House outlined actions it's taking to protect tenants amid rising rents and evictions. Tenants' groups told Insider that they wanted decisive legal and financial action from the president. In addition to that, the White House also published a "Blueprint for a Renters Bill of Rights," endorsing fair housing practices and a tenants' right to organize. "On the one hand, we are encouraged that the White House has released this Blueprint as a statement of values," Martin said. "As a blueprint, the document's statements don't do anything to materially help improve conditions for renters," he said.

☆ Starbucks is inviting social workers to assist homeless people at some of its cafés
▼ + stars: | 2023-01-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

But as homeless people seek refuge in cafés, Starbucks has invited outreach workers to talk them. Starbucks contracts with outreach workers in eight US cities, including Los Angeles and Seattle. Recently, the Seattle-based chain has opted to bring in outreach workers to assist homeless people, The Guardian reported. Starbucks cafés in eight US cities, including Seattle, Los Angeles, Philadelphia, and Chicago, are part of the two-year-old program, according to the article. The company changed its bathroom policy after a racial-discrimination incident in which a Black customer was denied access to the bathroom.

Louisiana parishes (which are similar to counties) have pretty consistent borrowing limits for mortgages. As a result, you can compare potential new homes in two distinct parishes without factoring in borrowing limits as much. Louisiana borrowing limits in 2023 by parishesParish Conforming mortgage borrowing limit (single-family home FHA mortgage borrowing limit (single-family home) Acadia Parish $726,200 $472,030 Allen Parish $726,200 $472,030 Ascension Parish $726,200 $472,030 Assumption Parish $726,200 $472,030 Avoyelles Parish $726,200 $472,030 Beauregard Parish $726,200 $472,030 Bienville Parish $726,200 $472,030 Bossier Parish $726,200 $472,030 Caddo Parish $726,200 $472,030 Calcasieu Parish $726,200 $472,030 Caldwell Parish $726,200 $472,030 Cameron Parish $726,200 $472,030 Catahoula Parish $726,200 $472,030 Claiborne Parish $726,200 $472,030 Concordia Parish $726,200 $472,030 De Soto Parish $726,200 $472,030 East Baton Rouge Parish $726,200 $472,030 East Carroll Parish $726,200 $472,030 East Feliciana Parish $726,200 $472,030 Evangeline Parish $726,200 $472,030 Franklin Parish $726,200 $472,030 Grant Parish $726,200 $472,030 Iberia Parish $726,200 $472,030 Iberville Parish $726,200 $472,030 Jackson Parish $726,200 $472,030 Jefferson Parish $726,200 $472,030 Jefferson Davis Parish $726,200 $472,030 Lafayette Parish $726,200 $472,030 Lafourche Parish $726,200 $472,030 La Salle Parish $726,200 $472,030 Lincoln Parish $726,200 $472,030 Livingston Parish $726,200 $472,030 Madison Parish $726,200 $472,030 Morehouse Parish $726,200 $472,030 Natchitoches Parish $726,200 $472,030 Orleans Parish $726,200 $472,030 Ouachita Parish $726,200 $472,030 Plaquemines Parish $726,200 $472,030 Pointe Coupee Parish $726,200 $472,030 Rapides Parish $726,200 $472,030 Red River Parish $726,200 $472,030 Richland Parish $726,200 $472,030 Sabine Parish $726,200 $472,030 St. Bernard Parish $726,200 $472,030 St. Charles Parish $726,200 $472,030 St. Helena Parish $726,200 $472,030 St. James Parish $726,200 $472,030 St. John the Baptish Parish $726,200 $472,030 St. Landry Parish $726,200 $472,030 St. Marin Parish $726,200 $472,030 St. Mary Parish $726,200 $472,030 St. Tammany Parish $726,200 $472,030 Tangipahoa Parish $726,200 $472,030 Tensas Parish $726,200 $472,030 Terrebonne Parish $726,200 $472,030 Union Parish $726,200 $472,030 Vermilion Parish $726,200 $472,030 Vernon Parish $726,200 $472,030 Washington Parish $726,200 $472,030 West Baton Rouge Parish $726,200 $472,030 West Carroll Parish $726,200 $472,030 West Feliciana Parish $726,200 $472,030 Winn Parish $726,200 $472,030Note: You'll need to get a jumbo loan if you want to borrow more than $726,200, regardless of where you want to live in Louisiana. How to determine which mortgage is right for youYou may want to consider an FHA mortgage if you don't think you'll meet the requirements for a conforming mortgage. A conforming mortgage may be a good choice if you plan on getting a home that costs more than the FHA borrowing limit in your county.

In Nebraska, the 2022 borrowing limit for FHA mortgages is $420,680 in all but three counties. Conforming mortgages and FHA mortgages both have borrowing limits. Nebraska borrowing limits in 2023 for conforming and FHA mortgages by countyCounty Conforming mortgage limit (single-family home) FHA mortgage limit (single-family home) Adams County $726,200 $472,030 Antelope County $726,200 $472,030 Arthur County $726,200 $472,030 Banner County $726,200 $472,030 Blaine County $726,200 $472,030 Boone County $726,200 $472,030 Box Butte County $726,200 $472,030 Boyd County $726,200 $472,030 Brown County $726,200 $472,030 Buffalo County $726,200 $472,030 Burt County $726,200 $472,030 Butler County $726,200 $472,030 Cass County $726,200 $472,030 Cedar County $726,200 $472,030 Chase County $726,200 $472,030 Cherry County $726,200 $472,030 Cheyenne County $726,200 $472,030 Clay County $726,200 $472,030 Colfax County $726,200 $472,030 Cuming County $726,200 $472,030 Custer County $726,200 $472,030 Dakota County $726,200 $472,030 Dawes County $726,200 $472,030 Dawson County $726,200 $472,030 Deuel County $726,200 $472,030 Dixon County $726,200 $472,030 Dodge County $726,200 $472,030 Douglas County $726,200 $472,030 Dundy county $726,200 $472,030 Fillmore County $726,200 $472,030 Franklin County $726,200 $472,030 Frontier County $726,200 $472,030 Furnas County $726,200 $472,030 Gage County $726,200 $472,030 Garden County $726,200 $472,030 Garfield County $726,200 $472,030 Gosper County $726,200 $472,030 Grant County $726,200 $472,030 Greeley County $726,200 $472,030 Hall County $726,200 $472,030 Hamilton County $726,200 $472,030 Harlan County $726,200 $472,030 Hayes County $726,200 $472,030 Hitchcock County $726,200 $472,030 Holt County $726,200 $472,030 Hooker County $726,200 $472,030 Howard County $726,200 $472,030 Jefferson County $726,200 $472,030 Johnson County $726,200 $472,030 Kearney County $726,200 $472,030 Keith County $726,200 $472,030 Keye Paha County $726,200 $472,030 Kimball County $726,200 $472,030 Knox County $726,200 $472,030 Lancaster County $726,200 $472,030 Lincoln County $726,200 $472,030 Logan County $726,200 $472,030 Loup County $726,200 $472,030 McPherson County $726,200 $472,030 Madison County $726,200 $472,030 Merrick County $726,200 $472,030 Morrill County $726,200 $472,030 Nance County $726,200 $472,030 Nemaha County $726,200 $472,030 Nuckolls County $726,200 $472,030 Otoe County $726,200 $472,030 Pawnee County $726,200 $472,030 Perkins County $726,200 $472,030 Phelps County $726,200 $472,030 Pierce County $726,200 $472,030 Platte County $726,200 $472,030 Polk County $726,200 $472,030 Red Willow County $726,200 $472,030 Richardson County $726,200 $472,030 Rock County $726,200 $472,030 Saline County $726,200 $472,030 Sarpy County $726,200 $472,030 Saunders County $726,200 $472,030 Scotts Bluff County $726,200 $472,030 Seward County $726,200 $472,030 Sheridan County $726,200 $472,030 Sherman County $726,200 $472,030 Sioux County $726,200 $472,030 Stanton County $726,200 $472,030 Thayer County $726,200 $472,030 Thomas County $726,200 $472,030 Thurston County $726,200 $472,030 Valley County $726,200 $472,030 Washington County $726,200 $472,030 Wayne County $726,200 $472,030 Webster County $726,200 $472,030 Wheeler County $726,200 $472,030 York County $726,200 $472,030Note: You'll need to get a jumbo loan if you want to borrow more than $726,200, regardless of which county you hope to reside in. Depending on the lender and term length, you might be able to lock in a lower rate for a conforming mortgage. If you plan to buy a more expensive home in Nebraska, jumbo loans let you borrow more money than the conforming mortgage limit.

FHA mortgages and conforming mortgages have borrowing limits that vary by state and county. If you need to borrow more than $726,200 in South Dakota, you'll want to consider getting a jumbo loan. In South Dakota, the 2023 borrowing limit for FHA mortgages is $472,030. In some states, certain counties may have higher borrowing limits than others because it is more expensive to live in that area. South Dakota borrowing limits in 2023 for conforming and FHA mortgages by countyCounty Conforming mortgage limit (single-family home) FHA mortgage limit (single-family home) Aurora County $726,200 $472,030 Beadle County $726,200 $472,030 Bennett County $726,200 $472,030 Bon Homme County $726,200 $472,030 Brookings County $726,200 $472,030 Brown County $726,200 $472,030 Brule County $726,200 $472,030 Buffalo County $726,200 $472,030 Butte County $726,200 $472,030 Campbell County $726,200 $472,030 Charles Mix County $726,200 $472,030 Clark County $726,200 $472,030 Clay County $726,200 $472,030 Codington County $726,200 $472,030 Corson County $726,200 $472,030 Custer County $726,200 $472,030 Davison County $726,200 $472,030 Day County $726,200 $472,030 Deuel County $726,200 $472,030 Dewey County $726,200 $472,030 Douglas County $726,200 $472,030 Edmunds County $726,200 $472,030 Fall River County $726,200 $472,030 Faulk County $726,200 $472,030 Grant County $726,200 $472,030 Gregory County $726,200 $472,030 Haakon County $726,200 $472,030 Hamlin County $726,200 $472,030 Hand County $726,200 $472,030 Hanson County $726,200 $472,030 Harding County $726,200 $472,030 Hughes County $726,200 $472,030 Hutchinson County $726,200 $472,030 Hyde County $726,200 $472,030 Jackson County $726,200 $472,030 Jerauld County $726,200 $472,030 Jones County $726,200 $472,030 Kingsbury County $726,200 $472,030 Lake County $726,200 $472,030 Lawrence County $726,200 $472,030 Lincoln County $726,200 $472,030 Lyman County $726,200 $472,030 McCook County $726,200 $472,030 McPherson County $726,200 $472,030 Marshall County $726,200 $472,030 Meade County $726,200 $472,030 Mellette County $726,200 $472,030 Miner County $726,200 $472,030 Minnehaha County $726,200 $472,030 Moody County $726,200 $472,030 Oglala Lakota County $726,200 $472,030 Pennington County $726,200 $472,030 Perkins County $726,200 $472,030 Potter County $726,200 $472,030 Roberts County $726,200 $472,030 Sanborn County $726,200 $472,030 Spink County $726,200 $472,030 Stanley County $726,200 $472,030 Sully County $726,200 $472,030 Todd County $726,200 $472,030 Tripp County $726,200 $472,030 Turner County $726,200 $472,030 Union County $726,200 $472,030 Walworth County $726,200 $472,030 Yankton County $726,200 $472,030 Ziebach County $726,200 $472,030Note: In South Dakota, you'll need to get a jumbo loan if you want to borrow more than $726,200, regardless of which county you hope to reside in.

The conforming mortgage borrowing limit is $726,200 for all Oregon counties. If you'd like to get an FHA mortgage, the maximum borrowing amount varies per county. In Oregon, some counties have higher FHA borrowing limits than others. Oregon borrowing limits in 2022 for conforming and FHA mortgages by countyTake note, Clackamas County, Columbia County, Hood River County, Multnomah County, Washington County, and Yamhill County have the highest FHA mortgage borrowing limits in Oregon. How to determine if a conforming, jumbo, or FHA mortgage is right for youAn FHA mortgage is a government-backed loan with more lenient eligibility requirements than conforming loans.

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