BERGEN COUNTY NJ FHA Loan Limits 2014

BERGEN COUNTY NJ FHA Loan Limits 2014


ONE FAMILY

$625,500

TWO FAMILY

$800,775

THREE FAMILY

$967,950

FOUR FAMILY

$1,202,925


BERGEN COUNTY NJ FHA Loan Limits 2014

FHA allows a home buyer to make a down payment of 3.5% and a seller contribution of up to 6% for closing costs with only a 580 minimum credit score. First time home buyer with credit score below 580 must make a minimum 10% down payment of the purchase price and a seller concession of up to 6% to pay for closing cost is allowed.

FHA requires a minimum down payment of 3.50% of the purchase price. The funds may be the borrower's own funds, a gift from a family member, rent credit or borrowed. FHA regulates some of the closing costs associated with a FHA loan.


  • Allendale
  • Alpine
  • Bergenfield
  • Bogota
  • Carlstadt
  • Cliffside Park
  • Closter
  • Cresskill
  • Demarest
  • Dumont
  • East Rutherford
  • Edgewater
  • Elmwood Park
  • Emerson
  • Englewood
  • Englewood Cliffs
  • Fair Lawn
  • Fairview
  • Fort Lee
  • Franklin Lakes
  • Garfield
  • Glen Rock
  • Hackensack
  • Harrington Park
  • Hasbrouck Heights
  • Haworth
  • Hillsdale
  • Ho-Ho-Kus
  • Leonia
  • Little Ferry
  • Lodi
  • Lyndhurst
  • Mahwah
  • Maywood
  • Midland Park
  • Montvale
  • Moonachie
  • New Milford
  • North Arlington
  • NorthvaleNorwood
  • Oakland
  • Old Tappan
  • Oradell
  • Palisades Park
  • ParamusPark Ridge
  • Ramsey
  • Ridgefield
  • Ridgefield Park
  • Ridgewood
  • River Edge
  • River Vale
  • Rochelle Park
  • Rockleigh
  • Rutherford
  • Saddle Brook
  • Saddle River
  • South Hackensack
  • Teaneck
  • Tenafly
  • Teterboro
  • Upper Saddle River
  • Waldwick
  • Wallington
  • Washington Township
  • Westwood
  • Wood-Ridge
  • Woodcliff Lake
  • Wyckoff
  • Bergen county NJ
  • FHA Loan Limits 2014

January 20, 2010 - FHA announced a new policy to address risk.

FHA has changed the minimum credit score for new borrowers:

  • FHA requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment
  • FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%
  • This has allowed the FHA to better balance its risk and continue to provide financing for home buyers
  • Bergen county NJ FHA loan limits 2014
  • HUD homes for sale $100 down payment.

October 15, 2013 - New FHA does not require collection accounts to be paid off as a condition of mortgage approval. However, FHA does recognize that collection efforts by the creditor for unpaid collections could affect the borrower’s ability to repay the mortgage.

  • If evidence of a payment arrangement is not available, the lender must calculate the monthly payment using 5% of the outstanding balance of each collection, and include the monthly payment in the borrower’s debt-to-income ratio.

August 15, 2013 - New borrowers may also be eligible for an FHA insured loan on a purchase transaction after 12 months from the completion, discharge, trustee's sale if the borrower meets the requirements for extenuating circumstances Economic Event.

Borrowers with a prior bankruptcy, foreclosure, deed-in-lieu, or short sale may be eligible for an FHA insured loan if the bankruptcy, foreclosure, deed-in-lieu, short sale was the result of a documented extenuating circumstance. 


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  • Hudson
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  • Mercer
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  • Monmouth
  • Morris
  • Ocean
  • Passaic
  • Salem
  • Somerset
  • Sussex
  • Union
  • Warren

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What's the minimum credit score needed to buy a house


FHA loans

FHA requires a minimum 500 credit score to buy a house

500 credit score

VA loans

VA requires a minimum 500 credit score to buy a house

500 credit score

USDA loans

USDA requires a minimum 580 credit score to buy a house

580 credit score

Fannie Mae

Fannie Mae requires a minimum 620 credit score to buy a house 

620 credit score

Freddie Mac

Freddie Mac requires a minimum 620 credit score to buy a house

620 credit score

HOMEPATH

HOMEPATH requires a minimum 620 credit score to buy a house

620 credit score


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