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BancorpSouth Review: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Year Established1876
Total Assets$18.0B
LEARN MORE Bancorp South’s secure website

BancorpSouth was founded in 1876 in the back of a hardware store in tiny Verona, Miss. Now headquartered five miles up the road in Tupelo, this bank has approximately 280 locations across eight states: Alabama, Arkansas, Florida, Louisiana, Missouri, Mississippi, Tennessee and Texas. The bank holds total assets north of $17 billion.

BancorpSouth carries a wide range of financial products, such as credit cards, auto, boat and RV loans, home loans, and investment accounts. They also offer checking, savings, CD, money market and IRA accounts. We’ll focus on these accounts in this review.

In this review, we put BancorpSouth’s accounts to the test. BancorpSouth may offer different rates depending on what region you’re in. To keep things consistent, we always looked at rates in the 38803 zip code (in Tupelo, Miss.), because this is where BancorpSouth is headquartered.

Bancorp South’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.15%

Savings

Bancorp South My Goal Savings

2.20%

Barclays Online Savings Account

on Barclays’s secure website

BancorpSouth’s checking account options

BancorpSouth My Way Checking

This entry-level checking account does not earn interest.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $5 (waived if you meet specific requirements, detailed below)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call the bank to ask about current costs associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

This checking doesn’t earn interest, but it’s relatively easy to avoid monthly fees. You can avoid the above-referenced service charge by meeting one these requirements during the statement cycle:

  • $100 minimum daily balance, or
  • Five debit card purchase transactions, or
  • At least one direct deposit of $100 or more

The My Way Checking account also comes with access to BudgetWi$e, the bank’s free online budgeting tool.

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BancorpSouth Performance Checking

This account lets you earn higher interest rates if you have a relationship with the bank.
APYMinimum Balance to Earn APY
0.10%$30,000+
1.76%$0.01 - $30,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $10 (waived if you meet certain requirements, detailed below)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call the bank to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: The bank will refund their $2 ATM fee plus up to $2 in fees paid by the ATM owner for the first five non-BancorpSouth transactions if the account holder meets all three of the higher rate requirements listed below.
  • Overdraft fee: $36 per item

The standard interest rate for this checking account is pretty meager, but it may be easy for you to earn the bonus rate. The Bonus APY of 1.76% applies on balances of $30,000 or less if you meet these three requirements each statement period:

  • Must have at least one direct credit or debit, such as direct deposit or automatic bill payment
  • Must make at least 12 debit card purchase transactions
  • Must be enrolled to receive online statements

You’ll definitely want to make sure you meet the requirements to receive the bonus rate every month. Doing so will not only get you a higher APY, but you’ll also be able to avoid the $10 monthly service charge and get up to $10 in ATM fees refunded each month. You can also avoid the monthly service charge by maintaining a $1,000 minimum daily balance in your account.

The Performance Checking account also comes with access to BudgetWi$e, BancorpSouth’s free online budgeting tool.

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BancorpSouth Interest Plus Checking

This account lets you earn higher interest rates as you deposit more money in your account.
APY
Minimum Balance to Earn APY
0.10%$0.01 - $4,999.99
0.12%$5,000 - $9,999.99
0.15%$10,000 - $24,999.99
0.17%$25,000 - $49,999.99
0.20%$50,000 - $99,999.99
0.25%$100,000+
  • Minimum opening deposit: $1,000
  • Monthly account maintenance fee: $10 (waived if you maintain a $1,000 minimum daily balance)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

The interest rates available for this checking account aren’t exactly generous. The highest rates available on this account are quite a bit lower than the bonus rate available through the Performing Checking account. However, since the bonus rate is available only on balances up to $30,000, this account might be a better option if you maintain a higher balance in your checking account.

And there’s one more benefit that might be appealing to people who prefer paper statements with imaged checks. This service is free for Interest Plus Checking account holders, whereas some of BancorpSouth’s other checking account options charge a fee.

The Interest Plus Checking account also comes with access to BudgetWi$e, BancorpSouth’s free online budgeting tool.

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BancorpSouth Heritage Checking

This account gives seniors age 62 and older the ability to earn travel and bonus rewards.
APYMinimum Balance to Earn APY
0.10%$0.01
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $8 (waived if you maintain a $500 minimum daily balance)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

The interest rates available for this checking account are modest, but it offers some unique perks. Account holders receive:

  • One free box of checks per year
  • $100,000 common carrier Accidental Death and Dismemberment Insurance
  • A free Savers Club Book with discount offers at over 3,000 participating lodging properties, theme parks and car rental companies
  • The ability to receive discounts and earn cash rewards when they arrange travel through a third-party partner
  • Free copies of Sojourns magazine

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BancorpSouth Student Checking

This account doesn’t earn interest, but it makes free checking available to students age 24 and under with no minimum balance requirements.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $0
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

This checking account doesn’t earn interest, but with no minimum monthly balance requirements and no monthly maintenance fee, it’s an affordable option for college students. Plus, it comes with a few nice features. Account holders receive their first box of 25 checks printed at no charge and have the option to upgrade to checks with their college’s logo.

The Student Checking account is available for students through the age of 24. After age 24, the account will automatically be converted to another standard checking account.

The Student Checking account also comes with access to BudgetWi$e, BancorpSouth’s free online budgeting tool.

How to get BancorpSouth’s checking accounts

You’ll need to provide some basic personal information, such as your name, Social Security number, date of birth, address and driver’s license number. You’ll also need details for your current U.S. checking or savings account to fund your new account. If you don’t already have a U.S. checking or savings account, you’ll have to apply in person at a BancorpSouth location.

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How BancorpSouth’s checking accounts compare

This bank’s checking accounts offer modest interest rates compared with the best online checking accounts out there. Truly fee-free checking is only available to students, although it’s possible to avoid monthly service fees rather easily.

If you’re between the ages of 24 and 62 and don’t mind jumping through a few hoops to meet the requirements each month, you’ll earn a better rate with BancorpSouth’s Performance Checking than you will with their other accounts. However, you might be able to earn more by keeping less money in your checking and more in another interest-bearing account.

BancorpSouth’s savings account options

BancorpSouth My Goal Savings

A good beginner account focused on saving toward a goal.
APYMinimum Balance to Earn APY
0.15%$0.01
  • Minimum opening deposit: $100
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $5 (waived if you maintain a minimum balance of $100)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

This is BancorpSouth’s basic savings account, and an option if you’re looking for a simple, no-frills place to store your cash. This account does have a monthly fee, but you can easily avoid it by keeping a minimum of $100 in your account.

Per Regulation D, you’re allowed up to six certain withdrawals or transfers per month. After that, there’s a $5 fee for each transaction from the bank.

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BancorpSouth Performance Savings

Earn a higher rate of interest by making a minimum monthly deposit.

Account holders can earn a higher interest rate on balances of $100,000 or less by making a minimum of $50 in total deposits into the account through either online banking transfer or ACH deposit. If you don’t make the minimum deposit, your account will earn the standard rate of interest. Call BancorpSouth to learn about the current rates.

  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $2.50 (waived if you maintain a minimum balance of $50)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

This savings account is an option if you plan to save at least $50 per month and can take advantage of the bonus interest rate. Even if you skip a month, the service fee is half that of the My Goal Savings account.

Again, watch out if you plan to make a lot of withdrawals each month. You’re allowed up to six certain withdrawals or transfers each month, per Federal Regulation D. After that, there’s a $5 fee for each transaction from the bank.

You cannot open a Performance Checking account online. Use BancorpSouth’s Find a Branch tool to locate a branch near you and sign up in person.

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BancorpSouth Select Savings

This account has a higher minimum balance requirement to open an account and avoid fees, but it also earns a higher interest rate.
APYMinimum Balance to Earn APY
0.25%$0.01
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $0.01
  • Quarterly account maintenance fee: $15 (waived if you maintain a minimum balance of $1,000)
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

For people with a little more money available to open an account, the Select Savings account pays a higher rate of interest than you’ll get from BancorpSouth’s My Goal Savings account. This account does have a quarterly maintenance fee, but you can avoid it by keeping a minimum of $1,000 in the account.

Per Regulation D, you’re allowed up to six certain withdrawals or transfers each month. After that, there’s a $5 fee for each transaction from the bank.

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BancorpSouth Young Savers Savings

A low-fee alternative for teaching your children how to save.

Call BancorpSouth to learn about the current rates.

  • Minimum opening deposit: $25
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $0
  • ATM fee: No fee for using BancorpSouth ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call BancorpSouth to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

This account is only available to account holders below 17 years of age and requires a parent or guardian over 18 to be a joint account holder. Once the account holder reaches age 18, the account will convert to a My Goal Savings account.It’s a good account for teaching kids the value of savings because the minimum opening deposit is low, there’s no minimum balance requirement and no monthly service charge.

You’re allowed up to six certain withdrawals or transfer each month, per Regulation D. After that, there’s a $5 fee for each transaction imposed by the bank.

You cannot open a Young Savers Checking account online. Use BancorpSouth’s Find a Branch tool to locate a branch near you and sign up in person.

How to get a Bancop South savings account

You’ll need to provide some basic personal information, such as your name, Social Security number, date of birth, address and driver’s license number. You’ll also need details for your current U.S. checking or savings account to fund your new account. If you don’t already have a U.S. checking or savings account, you’ll have to apply in person at a BancorpSouth location.

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How BancorpSouth’s savings accounts compare

These savings accounts make it easy to avoid monthly or quarterly account maintenance fees, but their interest rates aren’t really that competitive. You’ll earn a better return on your money by opening one of these top online savings accounts.

BancorpSouth’s CD rates

BancorpSouth Certificate of Deposit

Earn a higher rate of return than a standard savings account.

Interest rates are determined at the time of purchase. Call BancorpSouth to discover current rates.

  • Minimum opening deposit: $1,000 – $5,000, depending on maturity
  • Minimum balance amount to earn APY: $1,000 – $5,000, depending on maturity
  • Early withdrawal penalty: Early withdrawal penalties apply. Call BancorpSouth to learn more.

If you want to earn a higher rate of interest and don’t mind tying up your money for anywhere from one to 60-plus months, consider a BancorpSouth CD. The longer the term, the higher the rate.

You can open a CD with BancorpSouth with as little as $1,000, so there’s a low barrier to entry.

You cannot open a BancorpSouth CD online. Use their Find a Branch tool to locate a branch near you and apply in person.

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How BancorpSouth’s CD rates compare

BancorpSouth doesn’t publish their CD rates online, so it’s impossible to know how they compare to the CDs that you can get elsewhere. However, we do like their low opening balance requirements and a variety of maturity terms.

BancorpSouth’s money market account options

BancorpSouth Money Market Select

Earn tiered interest rates based on your account balance.
APYMinimum Balance to Earn APY
0.10%$0.01 - $9,999.99
0.10%$10,000 - $24,999.99
0.15%$25,000 - $49,999.99
0.20%$50,000 - $99,999.99
0.25%$100,000 - $149,999.99
0.30%$150,000 - $499,999.99
0.50%$500,000+
  • Minimum opening deposit: $1,000
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $10 (waived if you maintain a $10,000 minimum monthly ledger balance)
  • ATM fee: No fee for using the bank’s ATMs. If you use an out-of-network ATM in the United States, you may be charged a fee by both BancorpSouth and the ATM’s owner. Call the bank to ask about current fees associated with out-of-network ATMs. If you use a foreign ATM, you’ll pay $2 per transaction, plus a 2% cross-border fee.
  • ATM fee refund: None
  • Overdraft fee: $36 per item

You’ll only need $1,000 to open a Money Market Select account, but you’ll need 10 times that amount to avoid the monthly fee mentioned above. If you can clear that hurdle, this is a way to earn a little more interest than you’d get from some of the bank’s checking account options. You’ll have access to unlimited over-the-counter and ATM transaction, but more than six withdrawals during any given month will hit you with a $10 fee per withdrawal.Keep in mind, though, you must have a BancorpSouth checking account to open a Money Market Select account.

How to get BancorpSouth’s Money Market Select account

You’ll need to provide some basic personal information, such as your name, Social Security number, date of birth, address and driver’s license number. You’ll also need details for your current U.S. checking or savings account to fund your new account. If you don’t already have a U.S. checking or savings account, you’ll have to apply in person at a BancorpSouth location.

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on Bancorp South’s secure website

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How BancorpSouth’s money market accounts compare

This account has a low opening deposit requirement, but the interest rates are low, too. You could potentially earn a better rate of return with a money market account from an internet bank.

BancorpSouth’s IRA account options

IRA

BancorpSouth’s IRA lets you save for retirement with flexible contribution options.

Call BancorpSouth the learn the current rates.

  • Minimum opening deposit: Call the bank to learn more
  • Minimum balance to earn APY: Call the bank to learn more
  • Monthly account maintenance fee: None

If you’re under age 70½, you can contribute to an IRA and take advantage of potential tax savings. BancorpSouth’s IRA does not charge a monthly service fee, however, if you need to withdraw funds early, those withdrawals may be taxed as earned income and incur an early withdrawal penalty.

You’ll have to call the bank to learn more about interest rates associated with this account and how to open the account.

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How BancorpSouth’s IRA accounts compare

We don’t know how BancorpSouth’s IRA CDs compare because the bank chooses not to advertise its rates. You’ll have to call to find out. If you do, be sure to compare the rates they’re paying to our list of the top IRA CD rates.

Overall review of BancorpSouth’s banking products

BancorpSouth does offer a wide variety of account options for checking and savings, and while many of their accounts to charge a monthly or quarterly service fee, they make it easy to avoid the fees by maintaining relatively low minimum balances, using your debit card, or using direct deposit.

But if you’re like most people, you probably want to put your money where it will earn the best interest rate. If that’s the case, BancorpSouth might not be the best option for you because their interest rates just aren’t competitive with those offered by other banks. With many of its rates not published online, the bank doesn’t make it easy for you to shop around.

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.

Janet Berry-Johnson
Janet Berry-Johnson |

Janet Berry-Johnson is a writer at MagnifyMoney. You can email Janet here

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Mortgage

2019 FHA Loan Limits in Maine

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

On the market for a home in Maine? The Pine Tree State is known for its lobster, rocky coastline and plentiful forests. It’s also a pretty affordable place to buy a home. According to the Maine Association of REALTORS, while the state has seen a rise in values for single-family homes, the median sales price as of December 2018 was $219,000. That’s well below the nationwide median of $253,600 for the same month.

That affordability means Maine homebuyers should have a lot of options when it comes to financing their purchase. One popular option is a loan backed by the The Federal Housing Administration. FHA loans are attractive because they have low down payment requirements and closing costs. At the same time, they may be easier to qualify for, even if your credit score isn’t stellar.

The FHA sets a cap on the size of mortgages it will insure. These loan limits are updated annually and announced by the Department of Housing and Urban Development (HUD) near the end of each year. For 2019, the loan limits for a single-family home in Maine range from $314,827 to $351,900.

Maine FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ANDROSCOGGIN$314,827$403,125$487,250$605,525$177,000
AROOSTOOK$314,827$403,125$487,250$605,525$114,000
CUMBERLAND$351,900$450,500$544,550$676,750$306,000
FRANKLIN$314,827$403,125$487,250$605,525$138,000
HANCOCK$314,827$403,125$487,250$605,525$208,000
KENNEBEC$314,827$403,125$487,250$605,525$165,000
KNOX$314,827$403,125$487,250$605,525$207,000
LINCOLN$314,827$403,125$487,250$605,525$210,000
OXFORD$314,827$403,125$487,250$605,525$147,000
PENOBSCOT$314,827$403,125$487,250$605,525$171,000
PISCATAQUIS$314,827$403,125$487,250$605,525$115,000
SAGADAHOC$351,900$450,500$544,550$676,750$306,000
SOMERSET$314,827$403,125$487,250$605,525$113,000
WALDO$314,827$403,125$487,250$605,525$179,000
WASHINGTON$314,827$403,125$487,250$605,525$119,000
YORK$351,900$450,500$544,550$676,750$306,000

How are FHA loan limits calculated?

Housing costs can vary widely throughout the country and even from county to county within a state, so the FHA loan limits differ from one county to the next.

Each year, the FHA announces a national loan limit for one-unit properties in low-cost areas. That loan limit – also called the “floor” – is set at 65% of the conforming loan limit for mortgages that conform to Fannie Mae and Freddie Mac guidelines. For 2019, the FHA loan floor is $314,827. That floor applies to most counties in Maine — but not all.

High-cost areas have their own loan limits, referred to as the “ceiling.” The ceiling is set at 150% of the conforming loan limit. For 2019, the national ceiling for one-unit properties is $726,525.

But in Maine’s affordable housing market, the ceiling is set much lower. There are only three counties in Maine with loan limits higher than the floor: Cumberland County, Sagadahoc County and York County. In those areas, the FHA loan limit for 2019 is $351,900.

The FHA backs mortgages on properties with up to four units, so each county has an applicable loan limit for two-, three- and four-family properties. In Maine, the ceiling for a four-family property in the most expensive counties is $676,750. You can look up the loan limits by county and by number of units using the FHA Mortgage Limits lookup tool available on the HUD website.

Are you eligible for an FHA loan in Maine?

The Maine Office of Tourism touts Maine as a great place to live due to its safe towns and cities, quality schools and ample recreational opportunities. If you agree, financing your purchase with an FHA loan should be no problem — at least from a loan limit perspective.

For more information on FHA loan requirements, including income requirements, credit score, down payments and more, check out our complete guide to FHA loans.

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.

Janet Berry-Johnson
Janet Berry-Johnson |

Janet Berry-Johnson is a writer at MagnifyMoney. You can email Janet here

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Mortgage

2019 FHA Loan Limits in Colorado

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Considering a move to Colorado? Come prepared for a high cost of housing. According to the Colorado Association of REALTORS, the average sales price of a single-family home in January 2019 was $455,677, up from $435,080 in January 2018.

However, in certain areas, the cost can go much higher. For example, in Denver County, the average sales price for a single-family home during the same timeframe was $545,045. To put that in perspective, the average sales price nationwide in November 2018 was $362,400.

Fortunately, if you’re interested in an FHA loan, the FHA loan limits for certain counties in Colorado reflect the higher cost of real estate in the state.

FHA loans are attractive because their down payment requirements and closing costs are lower than conventional loans. At the same time, they may be easier to qualify for, even if your credit isn’t great.

The FHA loan limit is a cap on the size of a mortgage the Federal Housing Administration will insure. These loan limits are updated annually and announced by the Department of Housing and Urban Development (HUD) near the end of each year. For 2019, the loan limits for a single-family home in Colorado range from $314,827 to $726,525.

Colorado FHA Loan Limits by County

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
ADAMS$561,200$718,450$868,400$1,079,250$488,000
ALAMOSA$314,827$403,125$487,250$605,525$152,000
ARAPAHOE$561,200$718,450$868,400$1,079,250$488,000
ARCHULETA$314,827$403,125$487,250$605,525$229,000
BACA$314,827$403,125$487,250$605,525$40,000
BENT$314,827$403,125$487,250$605,525$58,000
BOULDER$626,750$802,350$969,850$1,205,300$545,000
BROOMFIELD$561,200$718,450$868,400$1,079,250$488,000
CHAFFEE$333,500$426,950$516,050$641,350$290,000
CHEYENNE$314,827$403,125$487,250$605,525$36,000
CLEAR CREEK$561,200$718,450$868,400$1,079,250$488,000
CONEJOS$314,827$403,125$487,250$605,525$125,000
COSTILLA$314,827$403,125$487,250$605,525$99,000
CROWLEY$314,827$403,125$487,250$605,525$30,000
CUSTER$314,827$403,125$487,250$605,525$175,000
DELTA$314,827$403,125$487,250$605,525$184,000
DENVER$561,200$718,450$868,400$1,079,250$488,000
DOLORES$314,827$403,125$487,250$605,525$134,000
DOUGLAS$561,200$718,450$868,400$1,079,250$488,000
EAGLE$726,525$930,300$1,124,475$1,397,400$606,000
EL PASO$339,250$434,300$524,950$652,400$295,000
ELBERT$561,200$718,450$868,400$1,079,250$488,000
FREMONT$314,827$403,125$487,250$605,525$168,000
GARFIELD$726,525$930,300$1,124,475$1,397,400$625,000
GILPIN$561,200$718,450$868,400$1,079,250$488,000
GRAND$402,500$515,250$622,850$774,050$350,000
GUNNISON$357,650$457,850$553,450$687,800$271,000
HINSDALE$427,800$547,650$662,000$822,700$327,000
HUERFANO$314,827$403,125$487,250$605,525$110,000
JACKSON$314,827$403,125$487,250$605,525$138,000
JEFFERSON$561,200$718,450$868,400$1,079,250$488,000
KIOWA$314,827$403,125$487,250$605,525$54,000
KIT CARSON$314,827$403,125$487,250$605,525$147,000
LA PLATA$419,750$537,350$649,550$807,200$365,000
LAKE$314,827$403,125$487,250$605,525$220,000
LARIMER$437,000$559,450$676,200$840,400$380,000
LAS ANIMAS$314,827$403,125$487,250$605,525$100,000
LINCOLN$314,827$403,125$487,250$605,525$128,000
LOGAN$314,827$403,125$487,250$605,525$138,000
MESA$314,827$403,125$487,250$605,525$225,000
MINERAL$314,827$403,125$487,250$605,525$195,000
MOFFAT$314,827$403,125$487,250$605,525$176,000
MONTEZUMA$314,827$403,125$487,250$605,525$198,000
MONTROSE$314,827$403,125$487,250$605,525$220,000
MORGAN$314,827$403,125$487,250$605,525$193,000
OTERO$314,827$403,125$487,250$605,525$81,000
OURAY$425,500$544,700$658,450$818,250$270,000
PARK$561,200$718,450$868,400$1,079,250$488,000
PHILLIPS$314,827$403,125$487,250$605,525$99,000
PITKIN$726,525$930,300$1,124,475$1,397,400$625,000
PROWERS$314,827$403,125$487,250$605,525$85,000
PUEBLO$314,827$403,125$487,250$605,525$166,000
RIO BLANCO$314,827$403,125$487,250$605,525$150,000
RIO GRANDE$314,827$403,125$487,250$605,525$135,000
ROUTT$634,800$812,650$982,300$1,220,800$480,000
SAGUACHE$314,827$403,125$487,250$605,525$144,000
SAN JUAN$314,827$403,125$487,250$605,525$175,000
SAN MIGUEL$726,525$930,300$1,124,475$1,397,400$493,000
SEDGWICK$314,827$403,125$487,250$605,525$90,000
SUMMIT$722,200$924,550$1,117,550$1,388,850$497,000
TELLER$339,250$434,300$524,950$652,400$295,000
WASHINGTON$314,827$403,125$487,250$605,525$140,000
WELD$385,250$493,200$596,150$740,850$335,000
YUMA$314,827$403,125$487,250$605,525$135,000

How are FHA loan limits calculated?

Housing costs can vary widely throughout the country and even from county to county within a state, so the FHA loan limits differ from one county to the next.

Each year, the FHA announces a national loan limit for one-unit properties in low-cost areas. That loan limit — also called the “floor” — is set at 65% of the conforming loan limit for mortgages that conform to Fannie Mae and Freddie Mac guidelines. For 2019, the floor is $314,827.

High-cost areas have their own loan limits, referred to as the “ceiling.” The ceiling is set at 150% of the conforming loan limit. For 2019, the ceiling for one-unit properties is $726,525.

The FHA backs mortgages on properties with up to four units, so each county has an applicable loan limit for two-, three- and four-family properties. In Colorado, you’ll find county-specific loan limits range the gamut from floor to ceiling. You can look up the limits in your county using the FHA Mortgage Limits lookup tool available on HUD’s website.

Are you eligible for an FHA loan in Colorado?

Finding a home in Colorado may be a challenge. After all, at the Colorado Association of REALTORS annual Economic Summit in February of 2019, the state’s lack of housing inventory was a hot topic, and low inventory tends to drive up prices. However, FHA loan limits across the state reflect these challenges.

For more information on FHA loan requirements, including income, credit score and down payment requirements and more, check out our complete guide to FHA loans.

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.

Janet Berry-Johnson
Janet Berry-Johnson |

Janet Berry-Johnson is a writer at MagnifyMoney. You can email Janet here

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