FHA Loans in New York | Fast Close Mortgage

FHA Loans in New York — 2026 Limits & How to Apply

Looking for FHA Loans in New York? Fast Close Mortgage is a New York-licensed mortgage lender offering fha loans with closing timelines as fast as 7 days. Whether you’re in New York City, Albany, or anywhere else in New York, our team can help you get approved quickly and close on a competitive fha loans rate. NYC and Long Island FHA loan limits reach $1,209,750. Co-op purchases are common in NYC — not all co-ops are FHA-approved, which limits options in Manhattan.

2026 FHA Loans Loan Limits in New York

The 2026 FHA loan limit in New York is $524,225 for most counties and up to $1,209,750 in higher-cost areas. Counties at the high-cost limit include Bronx, Kings, Nassau, New York, Orange, Queens, Richmond, Rockland, Suffolk, Westchester. The FHA loan limit applies to single-family homes; multi-family limits scale up (2-unit $671,008, 3-unit $812,549, 4-unit $1,006,512 for New York).

These limits matter because they determine the maximum mortgage you can finance through the FHA program. In New York where the average home price is approximately $720,000, FHA financing covers a meaningful share of the market. New York buyers using FHA financing can qualify for properties well above the state median home price in high-cost counties.

What credit score do you need for FHA Loans in New York?

The minimum credit score for FHA Loans in New York is 580 for 3.5% down. Borrowers with credit scores below 580 (down to 500) can still qualify with 10% down. Most New York lenders prefer 580+ for the best pricing.

For New York buyers with credit scores in the 580-619 range, FHA and VA loans are often the best options. New York buyers with credit scores of 740+ get the best conventional loan pricing. We work with lenders who specialize in non-prime credit profiles and can often find competitive options for New York buyers across the credit spectrum.

How fast can I close FHA Loans in New York?

Fast Close Mortgage closes most New York FHA loans in 7 to 14 days from a clean approved application. New York FHA closings can take up to 21 days if there are appraisal delays or county-specific requirements. We work with appraisers familiar with New York-specific valuation requirements and can often expedite the appraisal process.

Why choose Fast Close Mortgage for FHA Loans in New York?

Fast Close Mortgage is a New York-licensed mortgage lender offering FHA Loans with closing timelines as fast as 7 days. Here’s why New York buyers choose us:

Licensed in all 50 states. We serve New York buyers plus 49 other states with consistent service and pricing.
Dedicated New York loan officer. Each New York borrower is assigned a local loan officer who understands New York-specific market conditions, county loan limits, and closing timelines.
Fast closing. Most New York FHA Loans close in 7 to 21 days, depending on the loan type.

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New York FHA Loans FAQ

The 2026 FHA loan limit in New York is $524,225 in most upstate counties and $1,209,750 in the New York City metro (Bronx, Kings, New York, Queens, Richmond), Nassau, Suffolk, Westchester, Rockland, and Orange counties.

FHA loans do not finance co-ops in NYC. FHA loans can finance condos in NYC if the building is on the FHA-approved condominium list. Most NYC co-ops are not on the FHA-approved list. If you are buying a co-op, you would need a conventional loan instead.

Fast Close Mortgage closes most FHA loans in New York in 14 to 21 days. NYC title and recording processes add 2 to 5 days compared to other states. Board package requirements in condo buildings can add 1 to 2 weeks for managed approval.

FHA loans in New York require a minimum credit score of 580 for 3.5% down, or 500-579 with 10% down. NY has stricter condo approval requirements, so we may need to verify building approval before issuing pre-approval.

Yes — FHA loans are available throughout Long Island (Nassau, Suffolk) and Westchester, Rockland, and Orange counties. These counties have the high-cost 2026 FHA loan limit of $1,209,750, supporting purchases in the $1M to $1.4M range with 3.5% down.

2026 FHA Loans limits in New York

$2,000,000 statewide (2026 VA loan limit).

What credit score do you need for FHA Loans in New York?

620 minimum; co-op buildings need VA co-op approval (longer timeline).

How fast can I close FHA Loans in New York?

21–30 days for NY VA loans. Co-op approvals can extend to 45+ days.

Why choose Fast Close Mortgage for FHA Loans in New York?

Fast Close Mortgage is NY-licensed; team has NY co-op expertise.

FHA Loans FAQ

What is the minimum credit score for FHA loans?

580 for 3.5% down; 500–579 with 10% down. Most lenders prefer 620+.

How long does it take to close an FHA loan?

14–30 days typically. FHA appraisal can add 5–7 days.

What is the FHA mortgage insurance premium (MIP)?

MIP is required on all FHA loans. It is 1.75% upfront plus 0.55% annual for most loans with LTV > 90%.

Can I use gift funds for the down payment on an FHA loan?

Yes. FHA allows the entire 3.5% down payment to come from an approved gift donor (relative, employer, or approved nonprofit).

Other states

Fast Close Mortgage is licensed in New York and all other 49 states. NMLS ID available on request. Equal Housing Opportunity.