It’s great news to see the new loan limits for 2023 on St. Croix, USVI for conventional and FHA loans. The caps have raised which means more potential buyers will qualify. With the recently lower mortgages rates (it has for the last 4 weeks!) and the increased loan limits for the upcoming year, this means homes would be more affordable to buyers who qualify.

Conventional Loan Limits for St Croix


   1- $1,089,300

   2- $1,394,775

   3- $1,685,850

   4- $2,095,200

FHA Loan Limits for St. Croix


   1- $472,030

   2- $604,400

   3- $730,525

   4- $907,900

In addition, Freddie Mac reports the following national averages with mortgage rates for the week ending Dec. 8 (according to the recent NAR Magazine):

  • 30-year fixed-rate mortgages: averaged 6.33%, continuing their fall from previous week’s 6.49% average. Last year at this time, 30-year rates averaged 3.10%.
  • 15-year fixed-rate mortgages: averaged 5.67%, dropping from previous week’s 5.76% average. A year ago, 15-year rates averaged 2.38%.

For more information on mortgages on island, here are some links that will be helpful:

Schaffer Mortgage Corp:

Bank of St. Croix:

First Liberty Mortgage:

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