New Conforming Loan Limits for FHA in 2023

[Cassidy Burns]

BP,

Crazy to think that starting January 1, 2023, you can use a FHA primary residence loan to purchase a small multifamily with the following max loan amounts in Washington DC:

Duplex- $1,394,775 loan amount

Triplex- $1,685,850 loan amount

Quadplex- $2,095,200

The triplex and the quadplex are significantly restricted due to the "self sufficiency test" , making the Duplex the most realistic option.  

You can buy a property a little north of $1,400,000 for only $50,000 down! Crazy!  

I do believe that the sweet spot in the DMV to be both break even, keep your living expenses low while you are living there, and have great appreciation growth is the duplex (IN PARTICULAR AREAS) for $900,000-$1,150,000

Hope this helps you buy a duplex in 2023 in Washington DC, Alexandria, Arlington, or other high cost area surrounding areas!

Happy Investing