2019 FHA Loan Limits in Indiana

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Updated on Wednesday, April 3, 2019

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.)