Tags: 2023 Low-Cost LAKELAND-WINTER HAVEN, FL
This page contains the Conforming, FHA, VA, and HECM Loan Limits for each housing type in Polk County.
Loan Limit Tables Polk County, FL
Loan Limits are the maximum amount of money allowed to be lent for a particular kind of loan. Different types of loans have different limits. Below are the 2023 loan limits for Polk County, FL.
Conforming Loan Limits
Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. If a mortgage exceeds the conforming loan limits then it is considered a jumbo loan.
FHA Loan Limits
FHA Loans are home mortgages insured by the Federal Housing Administration. FHA Loans let you get a home loan with a lower down-payment and relaxed credit score requirements.
Loan Limit Breakdown
Median Home Price
The Federal Housing Finance Agency (FHFA) conducts an annual survey to determine the median home prices in each county or metro area in the US. Median home price is then used to determine the loan limits in Polk County.
The last survey of home prices in Polk County was conducted in 2022 and found the median home price was $295,000.
Loan Limits Summary
Based on the median home price, Polk County was determined to be a "low-cost" area. Accordingly, 2023 loan limits in Polk County are set equal to the national baseline limit.
The 2023 conforming loan limit for a single-family home in Polk County, FL is $726,200. The FHA loan limit for a single-family home is $472,030.
This is an 10.9% increase over the 2022 loan limits which were set at $647,200 for a single-family conventional.
The tables above provide a complete breakdown of 2023 loan limits in Polk County, FL for FHA Loans, Conforming Loans, VA Loans, and HECM Reverse Mortgages.
If you are interested in purchasing a home with a conventional or FHA loan, the next step is to talk to a real estate agent and find a lender.
Not all lenders are the same. Some will not do FHA loans while others specialize in it. Rates may vary between lenders so it is important to shop around.
Loan Limits on this page apply to the following cities in Polk County, Florida: Lakeland, Winter Haven, Auburndale, Kissimmee, Haines City, Bartow, Mulberry, Davenport, Lake Wales, Polk City, Frostproof, Fort Meade, Lake Alfred, Eagle Lake, Dundee, Babson Park, Kathleen, Eaton Park, Lake Hamilton, and Highland City.
These loan limits also apply to the following ZIP codes in Polk County, Florida: 33810, 33813, 33880, 33884, 33823, 34759, 33809, 33844, 33881, 33801, 33803, 33830, 33811, 33860, 33805, 33837, 33898, 33897, 33812, and 33815.
Polk County, FL is considered part of the following metro area: LAKELAND-WINTER HAVEN, FL.
More on Polk County, FL
Want to learn more about Polk County, FL? See Fair Market Rents in Polk County, FL to view 40th percentile FMRs and SAFMRs by ZIP code or click here to find a Public Housing Authority near Polk County, FL who can help with finding affordable housing near you.
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