One-Time Close Loans | FHA and VA Construction Loans
VA and FHA One-Time Close Construction Loans

2023 FHA Construction Loan Limits in NEW JERSEY tell homebuyers how much borrowing power they have to build a home. VA Limits are set by the lenders.

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FHA Loan - One-Time Close Construction Loan

2023 VA and FHA Construction Loan Limits

Borrow for Single Family Home Loans in NEW JERSEY Counties

The FHA has a maximum construction loan amount that it will insure, which is known as the FHA lending limit. These loan limits are calculated and updated annually, and are influenced by the conventional loan limits set by Fannie Mae and Freddie Mac. The type of home, such as single-family or duplex, can also affect these numbers.

Construction loan limits no longer apply to new VA Loans. The Department of Veterans Affairs (commonly referred to as the VA) can now back larger loans than previous allowed. This change doesn't mean that you have unlimited borrowing power. Your lender will still have credit requirements that you need to meet as well as maximum loan amounts based on their own standards. VA lenders establish their own limits based on company policies. The amount we generally see is shown below, labeled as the VA Lender Limit.

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"For 2023, the FHA floor was set at $472,030 for single-family home loans. This lending limit covers most U.S. counties."

21 match(es) found

ATLANTIC County
ATLANTIC CITY-HAMMONTON, NJ
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
BERGEN County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
BURLINGTON County
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $529,000
CAMDEN County
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $529,000
CAPE MAY County
OCEAN CITY, NJ
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $548,550
CUMBERLAND County
VINELAND-BRIDGETON, NJ
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
ESSEX County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
GLOUCESTER County
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $529,000
HUDSON County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
HUNTERDON County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
MERCER County
TRENTON-PRINCETON, NJ
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030
MIDDLESEX County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
MONMOUTH County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
MORRIS County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
OCEAN County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
PASSAIC County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
SALEM County
PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $529,000
SOMERSET County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
SUSSEX County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
UNION County
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $1,089,300
WARREN County
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ
VA Construction Loan Limit FHA Construction Loan Limit
$1,500,000 $472,030

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