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2019 FHA Loan Limits in Virginia

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Virginia’s average housing prices are relatively low compared with other parts of the country, but the arrival of Amazon — which is expected to bring about 25,000 employees to a Virginia suburb of Washington, D.C. — will surely affect the market. With a mix of rural, suburban and a smattering of more urban housing, there’s a wide range of property prices offered.But if this is your first time buying a home, or if you need a little help with your housing purchase, you may want to consider a Federal Housing Administration (FHA) loan.

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In Virginia, the FHA offers loans with limits that vary by county (the higher-priced areas have higher loan limits). For example, in Appomattox County, a one-unit home has an FHA loan limit of $314,827, while in Arlington County, that same home has a limit of $726,525.

Virginia FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ACCOMACK$314,827 $403,125 $487,250 $605,525 $75,000
ALBEMARLE$437,000 $559,450 $676,200 $840,400 $362,000
ALEXANDRIA CITY$726,525 $930,300 $1,124,475 $1,397,400 $768,000
ALLEGHANY$314,827 $403,125 $487,250 $605,525 $118,000
AMELIA$535,900 $686,050 $829,250 $1,030,600 $300,000
AMHERST$314,827 $403,125 $487,250 $605,525 $210,000
APPOMATTOX$314,827 $403,125 $487,250 $605,525 $210,000
ARLINGTON$726,525 $930,300 $1,124,475 $1,397,400 $768,000
AUGUSTA$314,827 $403,125 $487,250 $605,525 $205,000
BATH$314,827 $403,125 $487,250 $605,525 $94,000
BEDFORD$314,827 $403,125 $487,250 $605,525 $210,000
BEDFORD CITY$314,827 $403,125 $487,250 $605,525 $210,000
BLAND$314,827 $403,125 $487,250 $605,525 $80,000
BOTETOURT$314,827 $403,125 $487,250 $605,525 $198,000
BRISTOL CITY$314,827 $403,125 $487,250 $605,525 $140,000
BRUNSWICK$314,827 $403,125 $487,250 $605,525 $132,000
BUCHANAN$314,827 $403,125 $487,250 $605,525 $50,000
BUCKINGHAM$437,000 $559,450 $676,200 $840,400 $362,000
BUENA VISTA CIT$314,827 $403,125 $487,250 $605,525 $80,000
CAMPBELL$314,827 $403,125 $487,250 $605,525 $210,000
CAROLINE$535,900 $686,050 $829,250 $1,030,600 $300,000
CARROLL$314,827 $403,125 $487,250 $605,525 $80,000
CHARLES CITY$535,900 $686,050 $829,250 $1,030,600 $300,000
CHARLOTTE$314,827 $403,125 $487,250 $605,525 $57,000
CHARLOTTESVILLE$437,000 $559,450 $676,200 $840,400 $362,000
CHESAPEAKE CITY$458,850 $587,400 $710,050 $882,400 $308,000
CHESTERFIELD$535,900 $686,050 $829,250 $1,030,600 $300,000
CLARKE$726,525 $930,300 $1,124,475 $1,397,400 $768,000
COLONIAL HEIGHT$535,900 $686,050 $829,250 $1,030,600 $300,000
COVINGTON CITY$314,827 $403,125 $487,250 $605,525 $75,000
CRAIG$314,827 $403,125 $487,250 $605,525 $198,000
CULPEPER$726,525 $930,300 $1,124,475 $1,397,400 $768,000
CUMBERLAND$314,827 $403,125 $487,250 $605,525 $99,000
DANVILLE CITY$314,827 $403,125 $487,250 $605,525 $96,000
DICKENSON$314,827 $403,125 $487,250 $605,525 $98,000
DINWIDDIE$535,900 $686,050 $829,250 $1,030,600 $300,000
EMPORIA CITY$314,827 $403,125 $487,250 $605,525 $130,000
ESSEX$314,827 $403,125 $487,250 $605,525 $141,000
FAIRFAX$726,525 $930,300 $1,124,475 $1,397,400 $768,000
FAIRFAX CITY$726,525 $930,300 $1,124,475 $1,397,400 $768,000
FALLS CHURCH CI$726,525 $930,300 $1,124,475 $1,397,400 $768,000
FAUQUIER$726,525 $930,300 $1,124,475 $1,397,400 $768,000
FLOYD$314,827 $403,125 $487,250 $605,525 $200,000
FLUVANNA$437,000 $559,450 $676,200 $840,400 $362,000
FRANKLIN$314,827 $403,125 $487,250 $605,525 $198,000
FRANKLIN CITY$314,827 $403,125 $487,250 $605,525 $182,000
FREDERICK$314,827 $403,125 $487,250 $605,525 $264,000
FREDERICKSBURG$726,525 $930,300 $1,124,475 $1,397,400 $768,000
GALAX CITY$314,827 $403,125 $487,250 $605,525 $108,000
GILES$314,827 $403,125 $487,250 $605,525 $200,000
GLOUCESTER$458,850 $587,400 $710,050 $882,400 $308,000
GOOCHLAND$535,900 $686,050 $829,250 $1,030,600 $300,000
GRAYSON$314,827 $403,125 $487,250 $605,525 $91,000
GREENE$437,000 $559,450 $676,200 $840,400 $362,000
GREENSVILLE$314,827 $403,125 $487,250 $605,525 $102,000
HALIFAX$314,827 $403,125 $487,250 $605,525 $116,000
HAMPTON CITY$458,850 $587,400 $710,050 $882,400 $308,000
HANOVER$535,900 $686,050 $829,250 $1,030,600 $300,000
HARRISONBURG CI$314,827 $403,125 $487,250 $605,525 $215,000
HENRICO$535,900 $686,050 $829,250 $1,030,600 $300,000
HENRY$314,827 $403,125 $487,250 $605,525 $81,000
HIGHLAND$314,827 $403,125 $487,250 $605,525 $135,000
HOPEWELL CITY$535,900 $686,050 $829,250 $1,030,600 $300,000
ISLE OF WIGHT$458,850 $587,400 $710,050 $882,400 $308,000
JAMES CITY$458,850 $587,400 $710,050 $882,400 $308,000
KING AND QUEEN$314,827 $403,125 $487,250 $605,525 $140,000
KING GEORGE$350,750 $449,000 $542,750 $674,500 $270,000
KING WILLIAM$535,900 $686,050 $829,250 $1,030,600 $300,000
LANCASTER$442,750 $566,800 $685,100 $851,450 $175,000
LEE$314,827 $403,125 $487,250 $605,525 $50,000
LEXINGTON CITY$354,200 $453,450 $548,100 $681,150 $308,000
LOUDOUN$726,525 $930,300 $1,124,475 $1,397,400 $768,000
LOUISA$314,827 $403,125 $487,250 $605,525 $201,000
LUNENBURG$314,827 $403,125 $487,250 $605,525 $50,000
LYNCHBURG CITY$314,827 $403,125 $487,250 $605,525 $210,000
MADISON$314,827 $403,125 $487,250 $605,525 $180,000
MANASSAS CITY$726,525 $930,300 $1,124,475 $1,397,400 $768,000
MANASSAS PARK C$726,525 $930,300 $1,124,475 $1,397,400 $768,000
MARTINSVILLE CI$314,827 $403,125 $487,250 $605,525 $81,000
MATHEWS$458,850 $587,400 $710,050 $882,400 $308,000
MECKLENBURG$314,827 $403,125 $487,250 $605,525 $84,000
MIDDLESEX$314,827 $403,125 $487,250 $605,525 $189,000
MONTGOMERY$314,827 $403,125 $487,250 $605,525 $200,000
NELSON$437,000 $559,450 $676,200 $840,400 $362,000
NEW KENT$535,900 $686,050 $829,250 $1,030,600 $300,000
NEWPORT NEWS CI$458,850 $587,400 $710,050 $882,400 $308,000
NORFOLK CITY$458,850 $587,400 $710,050 $882,400 $308,000
NORTHAMPTON$314,827 $403,125 $487,250 $605,525 $121,000
NORTHUMBERLAND$318,550 $407,800 $492,950 $612,600 $185,000
NORTON CITY$314,827 $403,125 $487,250 $605,525 $98,000
NOTTOWAY$314,827 $403,125 $487,250 $605,525 $83,000
ORANGE$314,827 $403,125 $487,250 $605,525 $225,000
PAGE$314,827 $403,125 $487,250 $605,525 $137,000
PATRICK$314,827 $403,125 $487,250 $605,525 $75,000
PETERSBURG CITY$535,900 $686,050 $829,250 $1,030,600 $300,000
PITTSYLVANIA$314,827 $403,125 $487,250 $605,525 $96,000
POQUOSON CITY$458,850 $587,400 $710,050 $882,400 $308,000
PORTSMOUTH CITY$458,850 $587,400 $710,050 $882,400 $308,000
POWHATAN$535,900 $686,050 $829,250 $1,030,600 $300,000
PRINCE EDWARD$314,827 $403,125 $487,250 $605,525 $140,000
PRINCE GEORGE$535,900 $686,050 $829,250 $1,030,600 $300,000
PRINCE WILLIAM$726,525 $930,300 $1,124,475 $1,397,400 $768,000
PULASKI$314,827 $403,125 $487,250 $605,525 $200,000
RADFORD CITY$314,827 $403,125 $487,250 $605,525 $200,000
RAPPAHANNOCK$726,525 $930,300 $1,124,475 $1,397,400 $768,000
RICHMOND$314,827 $403,125 $487,250 $605,525 $117,000
RICHMOND CITY$535,900 $686,050 $829,250 $1,030,600 $300,000
ROANOKE$314,827 $403,125 $487,250 $605,525 $198,000
ROANOKE CITY$314,827 $403,125 $487,250 $605,525 $198,000
ROCKBRIDGE$314,827 $403,125 $487,250 $605,525 $204,000
ROCKINGHAM$314,827 $403,125 $487,250 $605,525 $215,000
RUSSELL$314,827 $403,125 $487,250 $605,525 $72,000
SALEM CITY$314,827 $403,125 $487,250 $605,525 $198,000
SCOTT$314,827 $403,125 $487,250 $605,525 $140,000
SHENANDOAH$314,827 $403,125 $487,250 $605,525 $170,000
SMYTH$314,827 $403,125 $487,250 $605,525 $82,000
SOUTHAMPTON$314,827 $403,125 $487,250 $605,525 $171,000
SPOTSYLVANIA$726,525 $930,300 $1,124,475 $1,397,400 $768,000
STAFFORD$726,525 $930,300 $1,124,475 $1,397,400 $768,000
STAUNTON CITY$314,827 $403,125 $487,250 $605,525 $205,000
SUFFOLK CITY$458,850 $587,400 $710,050 $882,400 $308,000
SURRY$314,827 $403,125 $487,250 $605,525 $122,000
SUSSEX$535,900 $686,050 $829,250 $1,030,600 $300,000
TAZEWELL$314,827 $403,125 $487,250 $605,525 $93,000
VIRGINIA BEACH$458,850 $587,400 $710,050 $882,400 $308,000
WARREN$726,525 $930,300 $1,124,475 $1,397,400 $768,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $140,000
WAYNESBORO CITY$314,827 $403,125 $487,250 $605,525 $205,000
WESTMORELAND$314,827 $403,125 $487,250 $605,525 $170,000
WILLIAMSBURG CI$458,850 $587,400 $710,050 $882,400 $308,000
WINCHESTER CITY$314,827 $403,125 $487,250 $605,525 $264,000
WISE$314,827 $403,125 $487,250 $605,525 $98,000
WYTHE$314,827 $403,125 $487,250 $605,525 $105,000
YORK$458,850 $587,400 $710,050 $882,400 $308,000

How are FHA loan limits figured?

The FHA reviews the home prices in Virginia (and across the country) annually to set its loan pricing each year. The “floor” limit is specifically set at 65% of the conforming loan limit for mortgages following the Fannie Mae and Freddie Mac guidelines.

So because the national conforming loan limit increased to $484,350 in 2019, the lowest limit for FHA loans also increased, to a minimum of $314,827 this year, including in Virginia.

The maximum FHA loan limits have also increased, to $726,525 for a one-unit home or $930,300 for a two-unit home in the more expensive areas of the country, and some of these are in Virginia. That limit is 150% of the national conforming loan limit.

While you don’t have to be a first-time homebuyer to receive an FHA loan, about 83% of FHA loans went to those newbies in fiscal year 2018, according to the FHA’s Mutual Mortgage Insurance Fund report.

Do you qualify for an FHA loan in Virginia?

Qualifying for an FHA loan is much easier to do than qualifying for a conventional loan. For starters, your credit score only needs to be at least 580 if you plan on putting 3.5% down. Got a lower credit score? If it’s between 500 and 579, you can still qualify, but you’ll have to put 10% down.

You will also need to show that you have a debt-to-income (DTI) ratio of less than 43%. You need to be employed and will need to produce documents to prove that you are making enough money to pay your mortgage.

If you plan on getting an FHA loan, be aware that you’ll have to pay mortgage insurance premiums. This is 1.75% of your loan upfront, along with a yearly payment ranging from 0.45% to 1.05%, depending on your property’s loan-to-value (LTV) ratio and your loan. So if you put down less than 10%, you’ll have to pay this insurance for the entirety of the loan, whereas if you put down at least 10%, you can stop paying mortgage insurance premiums after 11 years.

Need more info? Check out our primary FHA page.

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By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

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2019 FHA Loan Limits in Vermont

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Vermont, known as the Green Mountain State, is adored for its natural landscape, its proximity to numerous hiking trails, mountains and ski slopes — and for its delicious maple syrup. It’s also relatively cheap to live here, as there are plenty of rural areas where you can get a fairly large home for less than you could in most other spots in the Northeast.

But it’s still not inexpensive. The U.S. Census Bureau found that the median home in Vermont cost $220,600 between 2013 and 2017, 20% more expensive than the median price throughout the country, and the 18th highest price in the U.S.

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If you do want to purchase a home in Vermont, however, there’s help — even if you’re not a first-time homebuyer. Federal Housing Administration (FHA) loans were created to help with down payments for those who want to buy property but need a little more help than standard loans provide. Here in Vermont, 2019 FHA loan limits range from a low of $314,827 for a one-bedroom unit in lower-cost areas like Addison County to a high of $676,750 for a four-bedroom unit in Chittenden County.

Vermont FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADDISON$314,827 $403,125 $487,250 $605,525 $213,000
BENNINGTON$314,827 $403,125 $487,250 $605,525 $184,000
CALEDONIA$314,827 $403,125 $487,250 $605,525 $116,000
CHITTENDEN$351,900 $450,500 $544,550 $676,750 $306,000
ESSEX$314,827 $403,125 $487,250 $605,525 $87,000
FRANKLIN$351,900 $450,500 $544,550 $676,750 $306,000
GRAND ISLE$351,900 $450,500 $544,550 $676,750 $306,000
LAMOILLE$314,827 $403,125 $487,250 $605,525 $210,000
ORANGE$314,827 $403,125 $487,250 $605,525 $182,000
ORLEANS$314,827 $403,125 $487,250 $605,525 $125,000
RUTLAND$314,827 $403,125 $487,250 $605,525 $134,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $178,000
WINDHAM$314,827 $403,125 $487,250 $605,525 $176,000
WINDSOR$314,827 $403,125 $487,250 $605,525 $182,000

How are FHA loan limits calculated?

There’s a simple formula to determine FHA loan limits: The agency’s “floor” (for home loans in lower-cost areas) is 65% of the conforming loan limit. The national conforming loan limit for mortgages that follow Fannie Mae and Freddie Mac guidelines increased to $484,350 for 2019, and is evaluated, and usually raised in most areas, each year. It is set at $314,827 for a one-bedroom in Vermont for 2019, as mentioned above.

There are also “ceiling” limits for FHA loans for the higher-cost areas of the U.S. These are set at $726,525 for a one-unit or $1,397,400 for a four-unit home for 2019. The ceiling limits are set at 150% of the conforming loan-limit amount.

In addition to making your FHA loan payments, you’ll be required to purchase a mortgage insurance premium. This is set at 1.75% of your loan upfront, plus an annual premium ranging from 0.45% to 10%, depending on your loan-to-value (LTV) ratio and your loan percentage (if you put down less than 10%, you’ll have to pay the insurance for the life of the loan, but if you put down at least 10%, you can drop the mortgage insurance after 11 years).

Do you qualify for an FHA loan in Vermont?

You’ll need a credit score of at least 500 and a down payment of 10%. If your credit score is higher than 580, you can put 3.5% down. You also need a debt-to-income (DTI) ratio of no more than 43%, you’ll need to prove that your income is high enough and you’ll have to live in the property as a primary residence.

While FHA doesn’t lend directly, you can find an FHA-approved lender here. Need more information about FHA loans? We have plenty about credit scores, income and other requirements here.

(LendingTree is the parent company of MagnifyMoney.)

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.

By clicking “See Rates”, you will be directed to LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.

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2019 FHA Loan Limits in Indiana

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You’re reading to purchase a home until … sticker shock. Those prices! Even in Indiana, where you thought homes were relatively inexpensive (stop teasing us, House Hunters!), you could find properties topping $1 million. Fortunately, Federal Housing Administration (FHA) loans are here to help low- to moderate-income home shoppers, whether you’re a first-time homebuyer or just need a boost to get started in your next home. But before you apply, you need to know the details: the limits, the qualifications and more, as they apply to the Hoosier State.

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First, the good news: Indiana’s housing prices aren’t ridiculously over-the-top when compared with places like New York or California. In this state, you can find relatively inexpensive properties if you’re looking in rural areas (hint: the further from Indianapolis, the less expensive the housing gets). There’s also inexpensive farmland, if that’s what you’re seeking. But if you want to purchase in Indianapolis or close to Chicago (Valparaiso, Merrillville, etc.), you may have to shell out more than you planned.

In Indiana, there are 92 counties, and the FHA loan you can be approved for depends on the pricing within each county. For example, current FHA loan limits range from a low of $314,827 for a one-bedroom in Adams County to a high of $707,700 for a four-bedroom in Jasper County.

Indiana FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADAMS$314,827 $403,125 $487,250 $605,525 $105,000
ALEXANDER$314,827 $403,125 $487,250 $605,525 $163,000
BOND$314,827 $403,125 $487,250 $605,525 $236,000
BOONE$339,250 $434,300 $524,950 $652,400 $180,000
BROWN$314,827 $403,125 $487,250 $605,525 $92,000
BUREAU$314,827 $403,125 $487,250 $605,525 $125,000
CALHOUN$314,827 $403,125 $487,250 $605,525 $236,000
CARROLL$314,827 $403,125 $487,250 $605,525 $73,000
CASS$314,827 $403,125 $487,250 $605,525 $81,000
CHAMPAIGN$314,827 $403,125 $487,250 $605,525 $153,000
CHRISTIAN$314,827 $403,125 $487,250 $605,525 $78,000
CLARK$314,827 $403,125 $487,250 $605,525 $75,000
CLAY$314,827 $403,125 $487,250 $605,525 $65,000
CLINTON$314,827 $403,125 $487,250 $605,525 $236,000
COLES$314,827 $403,125 $487,250 $605,525 $96,000
COOK$368,000 $471,100 $569,450 $707,700 $320,000
CRAWFORD$314,827 $403,125 $487,250 $605,525 $60,000
CUMBERLAND$314,827 $403,125 $487,250 $605,525 $96,000
DE WITT$314,827 $403,125 $487,250 $605,525 $160,000
DEKALB$368,000 $471,100 $569,450 $707,700 $320,000
DOUGLAS$314,827 $403,125 $487,250 $605,525 $107,000
DUPAGE$368,000 $471,100 $569,450 $707,700 $320,000
EDGAR$314,827 $403,125 $487,250 $605,525 $83,000
EDWARDS$314,827 $403,125 $487,250 $605,525 $75,000
EFFINGHAM$314,827 $403,125 $487,250 $605,525 $121,000
FAYETTE$314,827 $403,125 $487,250 $605,525 $86,000
FORD$314,827 $403,125 $487,250 $605,525 $153,000
FRANKLIN$314,827 $403,125 $487,250 $605,525 $72,000
FULTON$314,827 $403,125 $487,250 $605,525 $58,000
GALLATIN$314,827 $403,125 $487,250 $605,525 $31,000
GREENE$314,827 $403,125 $487,250 $605,525 $81,000
GRUNDY$368,000 $471,100 $569,450 $707,700 $320,000
HAMILTON$314,827 $403,125 $487,250 $605,525 $99,000
HANCOCK$314,827 $403,125 $487,250 $605,525 $94,000
HARDIN$314,827 $403,125 $487,250 $605,525 $71,000
HENDERSON$314,827 $403,125 $487,250 $605,525 $88,000
HENRY$314,827 $403,125 $487,250 $605,525 $155,000
IROQUOIS$314,827 $403,125 $487,250 $605,525 $100,000
JACKSON$314,827 $403,125 $487,250 $605,525 $93,000
JASPER$314,827 $403,125 $487,250 $605,525 $104,000
JEFFERSON$314,827 $403,125 $487,250 $605,525 $75,000
JERSEY$314,827 $403,125 $487,250 $605,525 $236,000
JO DAVIESS$314,827 $403,125 $487,250 $605,525 $113,000
JOHNSON$314,827 $403,125 $487,250 $605,525 $101,000
KANE$368,000 $471,100 $569,450 $707,700 $320,000
KANKAKEE$314,827 $403,125 $487,250 $605,525 $135,000
KENDALL$368,000 $471,100 $569,450 $707,700 $320,000
KNOX$314,827 $403,125 $487,250 $605,525 $72,000
LAKE$368,000 $471,100 $569,450 $707,700 $320,000
LASALLE$314,827 $403,125 $487,250 $605,525 $125,000
LAWRENCE$314,827 $403,125 $487,250 $605,525 $75,000
LEE$314,827 $403,125 $487,250 $605,525 $91,000
LIVINGSTON$314,827 $403,125 $487,250 $605,525 $116,000
LOGAN$314,827 $403,125 $487,250 $605,525 $83,000
MACON$314,827 $403,125 $487,250 $605,525 $90,000
MACOUPIN$314,827 $403,125 $487,250 $605,525 $236,000
MADISON$314,827 $403,125 $487,250 $605,525 $236,000
MARION$314,827 $403,125 $487,250 $605,525 $51,000
MARSHALL$314,827 $403,125 $487,250 $605,525 $138,000
MASON$314,827 $403,125 $487,250 $605,525 $87,000
MASSAC$314,827 $403,125 $487,250 $605,525 $140,000
MCDONOUGH$314,827 $403,125 $487,250 $605,525 $98,000
MCHENRY$368,000 $471,100 $569,450 $707,700 $320,000
MCLEAN$314,827 $403,125 $487,250 $605,525 $160,000
MENARD$314,827 $403,125 $487,250 $605,525 $134,000
MERCER$314,827 $403,125 $487,250 $605,525 $155,000
MONROE$314,827 $403,125 $487,250 $605,525 $236,000
MONTGOMERY$314,827 $403,125 $487,250 $605,525 $64,000
MORGAN$314,827 $403,125 $487,250 $605,525 $104,000
MOULTRIE$314,827 $403,125 $487,250 $605,525 $85,000
OGLE$314,827 $403,125 $487,250 $605,525 $124,000
PEORIA$314,827 $403,125 $487,250 $605,525 $138,000
PERRY$314,827 $403,125 $487,250 $605,525 $66,000
PIATT$314,827 $403,125 $487,250 $605,525 $153,000
PIKE$314,827 $403,125 $487,250 $605,525 $79,000
POPE$314,827 $403,125 $487,250 $605,525 $96,000
PULASKI$314,827 $403,125 $487,250 $605,525 $64,000
PUTNAM$314,827 $403,125 $487,250 $605,525 $125,000
RANDOLPH$314,827 $403,125 $487,250 $605,525 $76,000
RICHLAND$314,827 $403,125 $487,250 $605,525 $89,000
ROCK ISLAND$314,827 $403,125 $487,250 $605,525 $155,000
SALINE$314,827 $403,125 $487,250 $605,525 $50,000
SANGAMON$314,827 $403,125 $487,250 $605,525 $134,000
SCHUYLER$314,827 $403,125 $487,250 $605,525 $84,000
SCOTT$314,827 $403,125 $487,250 $605,525 $104,000
SHELBY$314,827 $403,125 $487,250 $605,525 $65,000
ST. CLAIR$314,827 $403,125 $487,250 $605,525 $236,000
STARK$314,827 $403,125 $487,250 $605,525 $138,000
STEPHENSON$314,827 $403,125 $487,250 $605,525 $104,000
TAZEWELL$314,827 $403,125 $487,250 $605,525 $138,000
UNION$314,827 $403,125 $487,250 $605,525 $99,000
VERMILION$314,827 $403,125 $487,250 $605,525 $45,000
WABASH$314,827 $403,125 $487,250 $605,525 $84,000
WARREN$314,827 $403,125 $487,250 $605,525 $73,000
WASHINGTON$314,827 $403,125 $487,250 $605,525 $114,000
WAYNE$314,827 $403,125 $487,250 $605,525 $28,000
WHITE$314,827 $403,125 $487,250 $605,525 $73,000
WHITESIDE$314,827 $403,125 $487,250 $605,525 $84,000
WILL$368,000 $471,100 $569,450 $707,700 $320,000
WILLIAMSON$314,827 $403,125 $487,250 $605,525 $93,000
WINNEBAGO$339,250 $434,300 $524,950 $652,400 $180,000
WOODFORD$314,827 $403,125 $487,250 $605,525 $138,000

How are FHA loan limits determined?

The FHA sets their loan limits based on the U.S. Department of Housing and Development (HUD), which updates the prices annually when they determine the costs of living in each area of the country. Each FHA loan is 65% of the conforming loan limit for the lower-cost homes, and as the conforming loan limit increases, so does the FHA loan. That’s why the limits vary from year to year. The maximum FHA loan in high-cost areas this year is $726,525 for a one-unit home (higher-cost homes are set at 150% of the conforming loan limit amounts), while the loan limit in low-cost areas is $314,827 for a one-bedroom home.

FHA loans are offered by FHA-approved lenders that try to make it easier for anyone to acquire a mortgage. While the standard minimum credit score for traditional loans is at least 620, you can borrow money via an FHA loan with a credit score as low as 500.

Your debt-to-income (DTI) ratio is also factored in: You can’t have more than a 43% DTI ratio to be approved, and you must have an appraisal done by an FHA-approved appraiser.

You will also pay less for your down payment through an FHA loan: 3.5% if your credit score is higher than 580; at least 10% for those whose score is lower than 580.

FHA borrowers will have to pay mortgage insurance, which can add up, however. On a 30-year-mortgage with a loan of less than $625,000, the annual mortgage insurance premium is 0.85%, and the upfront insurance premium is 1.75%.

In order to qualify for the loan, you will have to submit many financial documents, including bank statements, pay stubs, W-2s, tax returns and a gift letter, if applicable.

Do you qualify for an FHA loan in Indiana?

FHA loans are the easiest type of loans to qualify for because they require just a 580 credit score (or sometimes lower) and a minimal down payment. But your income needs to fall within a low- to moderate-income level). Think you qualify? Find a lender here. (LendingTree is the parent company of MagnifyMoney.)

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