Delaware Mortgage Borrowing Limits by County in 2022

  • The 2022 FHA mortgage borrowing limit is either $420,680 or $477,250 depending on the county.
  • The conforming mortgage borrowing limit is $647,200 for all Delaware counties.
  • If you’re in good financial shape and need to exceed the borrowing limit, consider a jumbo loan.
  • Read more stories from Personal Finance Insider.

Delaware doesn’t have as many counties as other states, but the mortgage borrowing limit may still play an important role in the type of mortgage you get.

Each year, the Federal Housing Finance Agency (FHFA) and Federal Housing Administration (FHA) set mortgage limits on conforming mortgages and FHA mortgages. Depending on which state you plan to live in, some counties have higher mortgage limits than others, which may alter your decision on which best fits your circumstance.

Loan limits also increased in 2022 since the median housing price rose in many counties, including Delaware. 

Below, you’ll find the 2022 mortgage borrowing limits for all Delaware counties, gathered from the FHA and the US Department of Housing and Urban Development

Delaware borrowing limits in 2022 for conforming and FHA mortgages by county

Delaware’s conforming mortgage limits reflect many other parts throughout the US. You can borrow up to $647,200, regardless of which county you’d like to live in.

However, the FHA mortgage limit will vary depending on the county. Kent County has a higher FHA mortgage limit since the median housing price is slightly higher than other places in the US.

How to determine which type of mortgage is best for you

The type of mortgage that might work best for you may ultimately depend on how much money you need to borrow and your current financial circumstances.

If you’re still working toward most of your financial goals, FHA mortgages will likely be the easiest to obtain.

FHA mortgages are government-backed loans with more lenient requirements than most conforming mortgages and jumbo loans.  The requirements for FHA mortgages often include a lower minimum credit score and down payment, which is ideal if you’re not eligible for a standard mortgage.

If you’re in decent financial shape or are looking to borrow less than $647,200, conforming mortgages may be a better choice.

You can find a conforming mortgage at your local financial institution or from a government enterprise like Fannie Mae. Private lenders often offer low interest rates, especially if you have a significant down payment or good credit score. 

If you’re planning to buy you forever home and need to borrow more than the borrowing limit, you may need to consider a jumbo loan. Otherwise, you’ll have to hold off to save more money before you buy a home.

Jumbo loans are the only types of mortgages that let you exceed the conforming borrowing limit.

Since you’re borrowing a substantial amount from a private lender, there are stricter requirements to apply for a jumbo loan. You’ll need to have a solid credit score, low debt-to-income ratio, and substantial down payment saved. Keep in mind your mortgage rate will also likely be higher for a jumbo loan than a conforming mortgage, though.


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