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How Much to Put Down on a Used Car

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.

what to look for when buying a used car

A brand-new car might sound appealing, but may not always be the best financial option. That’s where used cars can come in. Used cars can be much more cost-efficient than new cars because they are just that: used, not new. And while you may not be the first person to own the car, you’ll likely find that an older model, say a 3- to 5-year-old car, can still offer high-quality tech and safety options that you’d find from something that’s brand new. Another good reason for a used car? You may get a chance to own a car that you normally wouldn’t be able to afford if you were buying it new.

Plus, used cars are great values for customers. Since a car’s depreciation usually happens within the first year, that means it has likely already taken place with used cars. In most cases, a new car can lose more than 20% of its value as soon as it leaves the lot. And nowadays, many modern cars can run for well beyond 100,000 miles, sometimes even longer.

The car-buying process for purchasing a used car is similar to the process for buying a new car, but you may wonder how much you should put down on a used car since it will be more affordable. Let’s take a closer look at how much to put down on a used car (and how it might compare with new cars) below.

What is a down payment on a used car?

When you buy or lease a car (both new and used), you’ll likely need to put money down first to help show the lender or dealer you’re financially committed. A down payment also serves other functions as well; it helps determine how much you’ll pay each month and what your interest rate on an auto loan might be (if applicable).

The math works out like this: The larger your car down payment, the better the interest rate and the lower the monthly payments will be on that vehicle.

So just how much should you put down? The average down payment on a new car is around 20-30%, which is more than used cars. The reason is because the depreciation in new cars happens in the first year, so you’ll likely need to put down more to help offset that hit.

Used cars on the other hand, don’t need as much of a down payment. In fact,most down payments for a used car range anywhere from 10-20% with a current average of about 11% of the car’s selling price, according to Ronald Montoya, a consumer advice editor at Edmunds, the car-buying site.

How to calculate how much you should put down on a used car?

Knowing how much you can afford to put down on a used car is pretty crucial to your finances. That’s why it’s important to only take on a car you can afford. Take a hard look at your finances to help determine how much you’re able to pay each month and how much you can put down. One way to go about this is by using online tools, such as MagnifyMoney’s auto affordability calculator. Here, you can plug in your how much you’d like your monthly payment to be and how much you’re willing to put down. Once you put in that information, you can get an estimate of how much you can afford on a car at its estimated value. Auto loan calculators can also help determine your estimated monthly payments on a new car loan if you choose to go that route, which is discussed in more detail later on.

Putting more down on a used car can help save you in the long run as it can help lower your monthly payment and provide a better interest rate. If you can’t put down the typical 10-20% of the car’s value, it might be wise to keep shopping around for a less expensive vehicle. You may also want to inquire with your lender about getting a possible lower interest rate loan.

What does ‘low down payment,’ ‘no down payment’ or ‘zero down payment,’ mean?

If you’ve been shopping around for a car, whether used or new, there’s a good chance you’ve heard the terms “low down payment,” “no down payment” or “zero down payment.” But what do they mean and how do they differ from one another? Let’s break each term down to get a better idea of what these down payment options mean and how they might work (or not work) for you.

What does low down payment mean?

A low down payment is a certain amount of money you put down to help reduce the money you’re borrowing. In years prior, anything less than 20% was considered a low down payment. Today, the average down payment for a used car is 10.9%. Anything below that may be considered on the low side, but usually a down payment within 1-5% range is typically a low down payment.

Pros of low down payment

  • Since you’re putting something down (even if it’s on the low side), you may get a lower monthly payment or interest rate than if you didn’t put anything down at all
  • Possibly shorten the term of your loan than if you didn’t put anything down
  • Shows the lender you are committed to the purchase

Cons of low down payment

  • It may only be a low down payment, but you still have to come up with the cash
  • You may not be putting down enough money to get the best monthly payment or interest rate

What does no down payment or zero down payment mean?

Zero or no down payment means you do not put any money down on the used car you’re buying. Unlike with a low down payment, you won’t have to put any money forward but you’ll have higher payments to worry about.

Pros of no down payment or zero down payment:

  • There is no down payment to come up with
  • Keeps more money in your pocket

Cons of no down payment or zero down payment:

  • Since you’re not putting anything down at all, you’ll likely have a higher monthly payment
  • Possible higher annual percentage rate (APR)
  • You may invest in something that is out of your price range because it was enticing without a down payment
  • Usually only offered to those with a credit score of 700 or higher
  • Your loan can go upside down, which means you’ll owe more on your car than what it is worth

Where do you find low or no down payment used cars?

Unfortunately, there’s no one-stop shop to find low or no down payment used cars. You’ll likely have to do a little digging on your own. You can start by going online to search for dealerships in your area and possible lenders to work with for an auto loan that offers the features you are looking for. Once you find a dealership or lender you’d like to work with, you’ll then be able to contact them directly to apply and determine a proper financing plan for your individual needs.

Each finance plan will vary depending on the lender and the car. One thing to remember: Interest rates are usually higher with used cars because they are riskier for lenders to invest in. Because older cars can break down and owners sometimes decide to stop paying for a broken car, the lender considers this a reason for borrowers to potentially default on their loan. Also note, any car over seven years old can be even harder to get a loan on.

Depending on the lender, you may have the option to apply for a low or no down payment directly on your application or you may discuss this once you are approved for the loan.

Credit history plays a significant role in buying any car, especially a new one. However, when it comes to used cars, you’ll likely only need a good to normal score.

For those who have poor credit, some consider a buy here, pay here dealership. These dealerships can possibly help finance your car when you might not be able to do it otherwise but be cautious, says Ronald Montoya. An option like this may be more costly and is not usually recommended. These dealers tend to sell older cars for much more than they are worth, with too high interest rates. And while you’ll be able to build up your credit if you choose to do business with this type of dealership, you should know that they don’t always report to the credit agencies. That means, you can be making all your payments on time without your credit score improving. If your credit is bad and you don’t have a lot of extra money to spend, you may want to work on raising your score first.

How do you finance a used vehicle?

Now that you have decided on getting a used car, you may be wondering how you’ll be able to finance it. If you’re like many and don’t have extra cash stored away to help buy your car in full, you may need some financial help.

Once you have figured out how much you want to spend on a used car, located the right vehicle for you, figured out what kind of down payment you can provide, it’s time to shop for lenders. An auto loan can help finance your ride by offering you a way to pay for the car with monthly payments. You’ll want to shop around for different lenders to find one that can offer you the best annual percentage rate (APR), which is determined by your credit history and the price of the car you’re looking to purchase. Car loan terms can vary depending on the lender and your credit, but tend to range from around 5 to 6 years. However, a 60-month loan term is ideal because you’ll have five years to finance your car rather than six, which is usually more feasible for most people. And since it’s only five years, you likely won’t grow tired of your car in that amount of time, as opposed to if you had the car for a longer period. Keep in mind, the loan term will depend on how old your car is; with an older car, you may want to try to get a shorter term.

And terms that are longer? These usually come with a higher monthly payment. When you find a potential lender, you’ll need to apply for an auto loan, which can be done online. Once you provide information on your income, employment, and the car you’re interested in, the lender will notify you whether or not you are approved.

Leasing a used car may also be an option. With a lease, the lender will determine your monthly payments by looking at what the car is selling for compared with its overall value. Interest rates on leasing used cars can be higher than with new cars but the terms (which vary with each individual) are usually the same as with new cars. Plus, at the end of your lease you have the option of purchasing the used car (just like with a new one) if you so choose.

The bottom line

Buying a car can be a financial strain. However, used cars can be a cheaper option while still providing you with some decent wheels. In order to get the best bang for your buck, you’ll likely need to put money down on a used car. Putting money down is a good way to save money because it will lower your monthly payment. If you’re looking to save more on your monthly payments, it might be a good idea to put more down if your finances permit. It’s important to only do what you can afford and to take a good look at your finances before making any final decisions.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Carissa Chesanek
Carissa Chesanek |

Carissa Chesanek is a writer at MagnifyMoney. You can email Carissa here

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Personal Loans

LendingPoint Personal Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.



Credit Req.


Minimum Credit Score


24 to 48


Origination Fee

0.00% - 6.00%


on LendingTree’s secure website

LendingPoint is an online lender that targets borrowers with fair credit, and allows borrowing up to $25,000.... Read More

LendingPoint personal loan details

Fees and penalties

  • Terms: 24 to 48 months
  • APR range: 15.49% to 35.99%
  • Loan amounts: $2,000 to $25,000
  • Time to funding: After the final approval, funds can be transferred as quickly as the next business day.
  • Hard pull/soft pull: LendingPoint conducts a soft pull when you first apply for a personal loan quote. After you review the loan offer(s) and select one, a hard pull will then be done to move forward with the final loan approval process.
  • Origination fee: 0.00% - 6.00%, depending on your state of residence and credit history.
  • Prepayment fee: None
  • Late payment fee: Not specified

Many lenders are strict about how many loans you can have at one time, sometimes maxing out at one per borrower. However, LendingPoint may allow you to take out two loans at once, depending on your current loan’s standing and your overall credit history. Being able to take out another personal loan can be helpful if a new financial issue comes up, such as an unexpected home repair, where you need more funds than your current loan can’t cover.

LendingPoint’s personal loans may be used for many different financial reasons. Whether you need to cover an upcoming home renovation, fund a car purchase or pay off a medical bill your insurance won’t cover, a personal loan from LendingPoint can help. These personal loans can also be used to help consolidate your debt and refinance your credit cards.

Eligibility requirements

  • Minimum credit score: 585
  • Minimum credit history: LendingPoint looks at your overall financial potential to help determine whether you’re a good candidate for a personal loan, but it will only consider those who can show income of at least $20,000 a year.
  • Maximum debt-to-income ratio: Not specified.

All borrowers must be at least 18 years old and reside in one of LendingPoint’s 49 designated states (as stated above, LendingPoint doesn’t operate in West Virginia) or the District of Columbia. Borrowers are encouraged to show consistent employment history for at least the past 12 months and must have a bank account.

Applying for a personal loan from LendingPoint

To begin the application process with LendingPoint, you’ll first need to provide basic background information, such as your name, date of birth, Social Security number, and annual income. This is the pre-approval process that can generate one or more loan offers in minutes.

If you choose one of the offers and agree with the terms and rates, you will then need to provide any additional information and documents LendingPoint may request, including your driver’s license, bank statements (with voided check) and proof of income. Once all documents have been received and reviewed, a final loan approval can happen in a few hours, and your funds can possibly be distributed to your bank account within the next business day.

Pros and cons of a LendingPoint personal loan



  • No prepayment penalty. If you decide to pay off your loan before your term is up, LendingPoint will not charge you a prepayment penalty.
  • Fast approval and funding. Many borrowers are pre-approved for a personal loan within a few minutes and approved for the actual loan within hours. Borrowers can receive funds in their bank account as soon as the next business day, upon approval and receipt of additional documents.
  • Works with borrowers with various different credit scores. LendingPoint provides personal loans to borrowers with a range of credit scores, even those with poor credit.
  • Bankruptcy is not grounds for automatic disqualification. Borrowers with a discharged bankruptcy of 12 months or more can still apply for a personal loan with LendingPoint. Your credit history, income and discharged bankruptcy timeframe will all be determining factors.
  • No joint or cosigner loans. Some lenders allow you to have a cosigner with a higher credit score in order to qualify for a better personal loan rate. That is not the case with LendingPoint’s personal loans, as they are based only on your individual credit history.
  • Fluctuating payment schedule. Your monthly due date may change because LendingPoint usually uses a 28-day payment cycle.
  • Higher interest rates. LendingPoint may work with borrowers with fair credit, but that can mean higher interest rates when compared with other lenders.
  • Origination fee. Many lenders don’t charge an origination fee for personal loans, which is why LendingPoint’s possible charge of up to 6.00% can be off-putting.

Who’s the best fit for a LendingPoint personal loan

If you have low to fair credit and meet the income requirements, LendingPoint could be a good option, especially if you need funds fast. The lack of a prepayment penalty is a plus, but other lenders offer lower rates, even for those with less than ideal credit.

Still, it’s always a good idea to search and compare personal loans before making a final decision. Shop around to find the best personal loans with a rate and term that’s ideal for your financial needs, while also keeping an eye out for any fees associated with a loan, including origination fees. LendingPoint may be the best fit for you, but you should take some time to compare with others to know for sure.

LendingPoint consumer reviews

A company’s rating on the Better Business Bureau is a good indicator on the way it handles its overall business. A major plus for LendingPoint is its A+ rating on the BBB. It has also been accredited with the BBB since 2014.

LendingPoint also flourishes on LendingTree’s website (Disclaimer: MagnifyMoney is owned by LendingTree), boasting an average of 4.5 stars from its 68 reviews. Customer service and responsiveness have both scored 5-star ratings, and 90% of customers would recommend LendingPoint to others.

In general, the reviews for LendingPoint on LendingTree praise the company’s customer service, noting the “personable” and knowledgeable” representatives and that the overall experience was a “fast” and “easy” process.

“The costumer service is top notch!” said reviewer Christopher from Oldsmar, Fla. “Fast, easy, just be on your computer when you’re talking with you rep and they just walk you right through everything!” Fellow Floridian Anna from Saint Augustine thanked LendingPoint and said that she “appreciated the quick, personal and no hassle process.”

Customers also appreciated how “fast” and “convenient” it was to receive their funds from a LendingPoint loan. Several other customers said they would or already have recommended LendingPoint’s services to a friend, as well.

However, one major complaint from several reviewers is LendingPoint running credit checks without proper authorization from the customer: “Ran my credit without my authorization. Just received an email about a loan application that i did not apply for,” wrote Sophia from Allentown, Pa.

See all LendingPoint customer reviews on LendingTree here.

LendingPoint FAQ

LendingPoint offers personal loans to borrowers who need financial help to pay for a major purchase, such as a new home appliance or wedding, or to help consolidate debt. LendingPoint’s personal loans can reach up to $25,000 with terms of 24 to 48 months.

You can use your personal loan for many financial reasons, anything from home improvement tasks to debt consolidation, medical bills and even vacations.

You may be able to change your due date by contacting the lender directly five business days before your bill is due.

Yes, you are allowed to make an extra payment on your loan if you choose to. You can also pay off your loan early without any penalty fees.

You must have an annual income equal to at least $20,000 which can include funds from your job or elsewhere, such as retirement.

In order to qualify for a personal loan with LendingPoint your credit score can be anywhere from 585 all the way to 850.

No. LendingPoint doesn’t charge a fee to use its online application.

Yes, you can set up AutoPay so your payments are automatically deducted from your checking or savings account each month.

Alternative personal loan options




Credit Req.


Minimum Credit Score


36 or 60


Origination Fee

1.00% - 5.00%


on LendingTree’s secure website

Even with a credit score of 600, you still might be able to secure a loan through Peerform. ... Read More

Peerform offers lower fixed rates ranging from 5.99% to 29.99% with loan amounts starting at $4,000 and maxing out at $25,000; terms are between 36 or 60 months.

Similar to LendingPoint, there are no prepayment penalties should you want to pay off your loan in advance, but there may be an origination fee that varies from 1.00% - 5.00%. There are other fees to consider with Peerform as well — these include late fees,check processing fees and unsuccessful payment fees, all of which can range around $15 each.




Credit Req.

Not Specified


36 or 60


Origination Fee

1.00% - 6.00%


on LendingTree’s secure website

LendingClub is a great tool for borrowers that can offer competitive interest rates and approvals for people with credit scores as low as 0.... Read More

Peer-to-peer lender LendingClub offers loans up to $40,000, which is good for those looking to borrow more money. However, you will likely have to wait a little longer to receive the funds — LendingClub’s earliest distribution is within 7 business days.

There are no prepayment penalties, but LendingClub charges an origination fee of anywhere from 1.00% - 6.00%, and you could also be charged a check processing fee or late payment fee. Credit history, the loan amount and any other outstanding debt are some of the factors used to determine the APR, which usually ranges from 6.95% to 35.89%.

OneMain Financial



Credit Req.

Not specified


24 to 60


Origination Fee

Varies by state


on LendingTree’s secure website

Advertiser Disclosure

OneMain Financial offers quick turnaround times and you may get your money the same day... Read More

Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. The lowest APR shown represents the 10% of loans with the most favorable APR. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

OneMain Financial has issued loans for more than 100 years and, similar to LendingPoint, can have money in your hands within the next business day after final approval. Loan amounts are from $1,500 to $20,000 with an APR range of 18.00% to 35.99%.

Borrowers are eligible for terms of 24 to 60 months, depending on your credit and financial history and any other debts you may have. Credit score requirements vary and all personal loans have fixed rates and payments without any prepayment penalties. You may be able to get a loan offer within minutes when you apply online but will need to meet with a loan specialist in person for final approval.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Carissa Chesanek
Carissa Chesanek |

Carissa Chesanek is a writer at MagnifyMoney. You can email Carissa here

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2019 FHA Loan Limits in Missouri

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.


Missouri is known for Anheuser-Busch, great barbecue, the fall colors of the Ozarks and agricultural farmland. But while most of the state’s land (97.4%) is considered to be rural, fewer than half of its residents (30.6%) live in these areas. A majority of Missourians live in suburbs that border major metropolitan and smaller cities.

If you’re looking to buy a home in Missouri, you’ll notice the median sales price differs in each county, with Wayne County (rural) being the lowest at $69,000. The highest median sales price in Missouri is $293,000 in several counties such as Clinton, Jackson, Clay, Ray, Caldwell, Cass, Platte, Bates, Lafayette, all of which are in or near the Kansas City area. In St. Louis County, the median home sales price is $236,000, although some suburban towns in West County St. Louis feature homes with a median sales price several hundred thousand dollars higher.

If you need financial assistance to help purchase your home in Missouri, a Federal Housing Administration (FHA) loan might be able to help. A 2016 FHA report with the most up-to-date information available on FHA mortgage issuances explains 25.5% of mortgages in Missouri at that time were FHA loans. At the time, the state ranked No. 23 in the nation for FHA loan origination; a 2018 report showed 2.15% of all FHA loans nationwide were originated in Missouri.

While an FHA loan might be a good choice to help pay for a new home, there are loan limits to consider. Each year, these loan limits are updated, based on current home prices and living costs in the area, allowing a certain maximum amount to be borrowed.

For a single-family home in Missouri, borrowing for most will likely get the standard FHA loan limit of $314,827. Those who wish to purchase a new single-family home in higher-cost areas of the state have a loan limit of $336,950.

Missouri FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADAIR$314,827 $403,125 $487,250 $605,525 $122,000
ANDREW$314,827 $403,125 $487,250 $605,525 $143,000
ATCHISON$314,827 $403,125 $487,250 $605,525 $89,000
AUDRAIN$314,827 $403,125 $487,250 $605,525 $108,000
BARRY$314,827 $403,125 $487,250 $605,525 $114,000
BARTON$314,827 $403,125 $487,250 $605,525 $104,000
BATES$336,950 $431,350 $521,400 $648,000 $293,000
BENTON$314,827 $403,125 $487,250 $605,525 $120,000
BOLLINGER$314,827 $403,125 $487,250 $605,525 $163,000
BOONE$314,827 $403,125 $487,250 $605,525 $196,000
BUCHANAN$314,827 $403,125 $487,250 $605,525 $143,000
BUTLER$314,827 $403,125 $487,250 $605,525 $120,000
CALDWELL$336,950 $431,350 $521,400 $648,000 $293,000
CALLAWAY$314,827 $403,125 $487,250 $605,525 $163,000
CAMDEN$314,827 $403,125 $487,250 $605,525 $187,000
CAPE GIRARDEAU$314,827 $403,125 $487,250 $605,525 $163,000
CARROLL$314,827 $403,125 $487,250 $605,525 $87,000
CARTER$314,827 $403,125 $487,250 $605,525 $104,000
CASS$336,950 $431,350 $521,400 $648,000 $293,000
CEDAR$314,827 $403,125 $487,250 $605,525 $109,000
CHARITON$314,827 $403,125 $487,250 $605,525 $92,000
CHRISTIAN$314,827 $403,125 $487,250 $605,525 $184,000
CLARK$314,827 $403,125 $487,250 $605,525 $94,000
CLAY$336,950 $431,350 $521,400 $648,000 $293,000
CLINTON$336,950 $431,350 $521,400 $648,000 $293,000
COLE$314,827 $403,125 $487,250 $605,525 $163,000
COOPER$314,827 $403,125 $487,250 $605,525 $131,000
CRAWFORD$314,827 $403,125 $487,250 $605,525 $120,000
DADE$314,827 $403,125 $487,250 $605,525 $88,000
DALLAS$314,827 $403,125 $487,250 $605,525 $184,000
DAVIESS$314,827 $403,125 $487,250 $605,525 $107,000
DEKALB$314,827 $403,125 $487,250 $605,525 $143,000
DENT$314,827 $403,125 $487,250 $605,525 $109,000
DOUGLAS$314,827 $403,125 $487,250 $605,525 $130,000
DUNKLIN$314,827 $403,125 $487,250 $605,525 $75,000
FRANKLIN$314,827 $403,125 $487,250 $605,525 $236,000
GASCONADE$314,827 $403,125 $487,250 $605,525 $125,000
GENTRY$314,827 $403,125 $487,250 $605,525 $93,000
GREENE$314,827 $403,125 $487,250 $605,525 $184,000
GRUNDY$314,827 $403,125 $487,250 $605,525 $91,000
HARRISON$314,827 $403,125 $487,250 $605,525 $81,000
HENRY$314,827 $403,125 $487,250 $605,525 $97,000
HICKORY$314,827 $403,125 $487,250 $605,525 $98,000
HOLT$314,827 $403,125 $487,250 $605,525 $98,000
HOWARD$314,827 $403,125 $487,250 $605,525 $117,000
HOWELL$314,827 $403,125 $487,250 $605,525 $123,000
IRON$314,827 $403,125 $487,250 $605,525 $89,000
JACKSON$336,950 $431,350 $521,400 $648,000 $293,000
JASPER$314,827 $403,125 $487,250 $605,525 $125,000
JEFFERSON$314,827 $403,125 $487,250 $605,525 $236,000
JOHNSON$314,827 $403,125 $487,250 $605,525 $172,000
KNOX$314,827 $403,125 $487,250 $605,525 $79,000
LACLEDE$314,827 $403,125 $487,250 $605,525 $115,000
LAFAYETTE$336,950 $431,350 $521,400 $648,000 $293,000
LAWRENCE$314,827 $403,125 $487,250 $605,525 $124,000
LEWIS$314,827 $403,125 $487,250 $605,525 $105,000
LINCOLN$314,827 $403,125 $487,250 $605,525 $236,000
LINN$314,827 $403,125 $487,250 $605,525 $75,000
LIVINGSTON$314,827 $403,125 $487,250 $605,525 $105,000
MACON$314,827 $403,125 $487,250 $605,525 $98,000
MADISON$314,827 $403,125 $487,250 $605,525 $96,000
MARIES$314,827 $403,125 $487,250 $605,525 $129,000
MARION$314,827 $403,125 $487,250 $605,525 $131,000
MCDONALD$314,827 $403,125 $487,250 $605,525 $180,000
MERCER$314,827 $403,125 $487,250 $605,525 $90,000
MILLER$314,827 $403,125 $487,250 $605,525 $132,000
MISSISSIPPI$314,827 $403,125 $487,250 $605,525 $83,000
MONITEAU$314,827 $403,125 $487,250 $605,525 $163,000
MONROE$314,827 $403,125 $487,250 $605,525 $107,000
MONTGOMERY$314,827 $403,125 $487,250 $605,525 $114,000
MORGAN$314,827 $403,125 $487,250 $605,525 $152,000
NEW MADRID$314,827 $403,125 $487,250 $605,525 $116,000
NEWTON$314,827 $403,125 $487,250 $605,525 $125,000
NODAWAY$314,827 $403,125 $487,250 $605,525 $133,000
OREGON$314,827 $403,125 $487,250 $605,525 $85,000
OSAGE$314,827 $403,125 $487,250 $605,525 $163,000
OZARK$314,827 $403,125 $487,250 $605,525 $89,000
PEMISCOT$314,827 $403,125 $487,250 $605,525 $80,000
PERRY$314,827 $403,125 $487,250 $605,525 $127,000
PETTIS$314,827 $403,125 $487,250 $605,525 $119,000
PHELPS$314,827 $403,125 $487,250 $605,525 $128,000
PIKE$314,827 $403,125 $487,250 $605,525 $114,000
PLATTE$336,950 $431,350 $521,400 $648,000 $293,000
POLK$314,827 $403,125 $487,250 $605,525 $184,000
PULASKI$314,827 $403,125 $487,250 $605,525 $155,000
PUTNAM$314,827 $403,125 $487,250 $605,525 $95,000
RALLS$314,827 $403,125 $487,250 $605,525 $131,000
RANDOLPH$314,827 $403,125 $487,250 $605,525 $97,000
RAY$336,950 $431,350 $521,400 $648,000 $293,000
REYNOLDS$314,827 $403,125 $487,250 $605,525 $77,000
RIPLEY$314,827 $403,125 $487,250 $605,525 $90,000
SALINE$314,827 $403,125 $487,250 $605,525 $98,000
SCHUYLER$314,827 $403,125 $487,250 $605,525 $122,000
SCOTLAND$314,827 $403,125 $487,250 $605,525 $84,000
SCOTT$314,827 $403,125 $487,250 $605,525 $124,000
SHANNON$314,827 $403,125 $487,250 $605,525 $99,000
SHELBY$314,827 $403,125 $487,250 $605,525 $80,000
ST. CHARLES$314,827 $403,125 $487,250 $605,525 $236,000
ST. CLAIR$314,827 $403,125 $487,250 $605,525 $94,000
ST. FRANCOIS$314,827 $403,125 $487,250 $605,525 $116,000
ST. LOUIS$314,827 $403,125 $487,250 $605,525 $236,000
ST. LOUIS CITY$314,827 $403,125 $487,250 $605,525 $236,000
STE. GENEVIEVE$314,827 $403,125 $487,250 $605,525 $133,000
STODDARD$314,827 $403,125 $487,250 $605,525 $106,000
STONE$314,827 $403,125 $487,250 $605,525 $164,000
SULLIVAN$314,827 $403,125 $487,250 $605,525 $86,000
TANEY$314,827 $403,125 $487,250 $605,525 $164,000
TEXAS$314,827 $403,125 $487,250 $605,525 $112,000
VERNON$314,827 $403,125 $487,250 $605,525 $102,000
WARREN$314,827 $403,125 $487,250 $605,525 $236,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $88,000
WAYNE$314,827 $403,125 $487,250 $605,525 $69,000
WEBSTER$314,827 $403,125 $487,250 $605,525 $184,000
WORTH$314,827 $403,125 $487,250 $605,525 $64,000
WRIGHT$314,827 $403,125 $487,250 $605,525 $98,000
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How are FHA loan limits calculated?

Every year, the U.S. Department of Housing and Urban Development (HUD) creates FHA loan limits with the national conforming loan limit set at $484,350 for 2019. These limits are the highest mortgage amount Fannie Mae and Freddie Mac will insure in many areas of the United States.

The amount known as the FHA “floor,” which is set at $314,827 for 2019 and targets most areas in the country, is 65% of the national conforming loan limit. However, high-cost areas have an FHA “ceiling” that is set at $726,525 (150% of the conforming loan limit), which is usually the highest mortgage Fannie Mae and Freddie Mac will insure for a single-family home. There can be some exceptions of course, and there may be areas with loan limits right in the middle of the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Missouri?

Buying a new home anywhere can be a financial strain and an FHA loan might be able to help ease the burden, especially with possible lower down-payment options. And while many other types of loans are strict about credit scores, FHA loans can sometimes be more lenient. Of course, there are other things to consider when taking on an FHA loan, such as its loan limits. These loans also require mortgage insurance and can come with maximum purchase-price limits. To learn more, head to MagnifyMoney’s FHA page for information on credit scores, income and other requirements.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Carissa Chesanek
Carissa Chesanek |

Carissa Chesanek is a writer at MagnifyMoney. You can email Carissa here

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