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Missouri FHA Loan

FHA Mortgage Loan Programs in Missouri
FHA Loan Requirements - 2020 FHA Loan Limits

Missouri FHA Loans | Requirements | 2020 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Missouri.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

Missouri FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in Missouri.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2020 FHA loan limits for all counties in Missouri below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Missouri.  To have an FHA lender contact you, request a free consultation.

2020 Missouri FHA Loan Limits

Below are the 2020 FHA loan limits for every county in Missouri:

County Single Family 2 Family 3 Family 4 Family
ADAIR $331,760 $424,800 $513,450 $638,100
ANDREW $331,760 $424,800 $513,450 $638,100
ATCHISON $331,760 $424,800 $513,450 $638,100
AUDRAIN $331,760 $424,800 $513,450 $638,100
BARRY $331,760 $424,800 $513,450 $638,100
BARTON $331,760 $424,800 $513,450 $638,100
BATES $351,900 $450,500 $544,550 $676,750
BENTON $331,760 $424,800 $513,450 $638,100
BOLLINGER $331,760 $424,800 $513,450 $638,100
BOONE $331,760 $424,800 $513,450 $638,100
BUCHANAN $331,760 $424,800 $513,450 $638,100
BUTLER $331,760 $424,800 $513,450 $638,100
CALDWELL $351,900 $450,500 $544,550 $676,750
CALLAWAY $331,760 $424,800 $513,450 $638,100
CAMDEN $331,760 $424,800 $513,450 $638,100
CAPE GIRARDEAU $331,760 $424,800 $513,450 $638,100
CARROLL $331,760 $424,800 $513,450 $638,100
CARTER $331,760 $424,800 $513,450 $638,100
CASS $351,900 $450,500 $544,550 $676,750
CEDAR $331,760 $424,800 $513,450 $638,100
CHARITON $331,760 $424,800 $513,450 $638,100
CHRISTIAN $331,760 $424,800 $513,450 $638,100
CLARK $331,760 $424,800 $513,450 $638,100
CLAY $351,900 $450,500 $544,550 $676,750
CLINTON $351,900 $450,500 $544,550 $676,750
COLE $331,760 $424,800 $513,450 $638,100
COOPER $331,760 $424,800 $513,450 $638,100
CRAWFORD $331,760 $424,800 $513,450 $638,100
DADE $331,760 $424,800 $513,450 $638,100
DALLAS $331,760 $424,800 $513,450 $638,100
DAVIESS $331,760 $424,800 $513,450 $638,100
DEKALB $331,760 $424,800 $513,450 $638,100
DENT $331,760 $424,800 $513,450 $638,100
DOUGLAS $331,760 $424,800 $513,450 $638,100
DUNKLIN $331,760 $424,800 $513,450 $638,100
FRANKLIN $331,760 $424,800 $513,450 $638,100
GASCONADE $331,760 $424,800 $513,450 $638,100
GENtrY $331,760 $424,800 $513,450 $638,100
GREENE $331,760 $424,800 $513,450 $638,100
GRUNDY $331,760 $424,800 $513,450 $638,100
HARRISON $331,760 $424,800 $513,450 $638,100
HENRY $331,760 $424,800 $513,450 $638,100
HICKORY $331,760 $424,800 $513,450 $638,100
HOLT $331,760 $424,800 $513,450 $638,100
HOWARD $331,760 $424,800 $513,450 $638,100
HOWELL $331,760 $424,800 $513,450 $638,100
IRON $331,760 $424,800 $513,450 $638,100
JACKSON $351,900 $450,500 $544,550 $676,750
JASPER $331,760 $424,800 $513,450 $638,100
JEFFERSON $331,760 $424,800 $513,450 $638,100
JOHNSON $331,760 $424,800 $513,450 $638,100
KNOX $331,760 $424,800 $513,450 $638,100
LACLEDE $331,760 $424,800 $513,450 $638,100
LAFAYETTE $351,900 $450,500 $544,550 $676,750
LAWRENCE $331,760 $424,800 $513,450 $638,100
LEWIS $331,760 $424,800 $513,450 $638,100
LINCOLN $331,760 $424,800 $513,450 $638,100
LINN $331,760 $424,800 $513,450 $638,100
LIVINGSTON $331,760 $424,800 $513,450 $638,100
MACON $331,760 $424,800 $513,450 $638,100
MADISON $331,760 $424,800 $513,450 $638,100
MARIES $331,760 $424,800 $513,450 $638,100
MARION $331,760 $424,800 $513,450 $638,100
MCDONALD $331,760 $424,800 $513,450 $638,100
MERCER $331,760 $424,800 $513,450 $638,100
MILLER $331,760 $424,800 $513,450 $638,100
MISSISSIPPI $331,760 $424,800 $513,450 $638,100
MONITEAU $331,760 $424,800 $513,450 $638,100
MONROE $331,760 $424,800 $513,450 $638,100
MONTGOMERY $331,760 $424,800 $513,450 $638,100
MORGAN $331,760 $424,800 $513,450 $638,100
NEW MADRID $331,760 $424,800 $513,450 $638,100
NEWTON $331,760 $424,800 $513,450 $638,100
NODAWAY $331,760 $424,800 $513,450 $638,100
OREGON $331,760 $424,800 $513,450 $638,100
OSAGE $331,760 $424,800 $513,450 $638,100
OZARK $331,760 $424,800 $513,450 $638,100
PEMISCOT $331,760 $424,800 $513,450 $638,100
PERRY $331,760 $424,800 $513,450 $638,100
PETTIS $331,760 $424,800 $513,450 $638,100
PHELPS $331,760 $424,800 $513,450 $638,100
PIKE $331,760 $424,800 $513,450 $638,100
PLATTE $351,900 $450,500 $544,550 $676,750
POLK $331,760 $424,800 $513,450 $638,100
PULASKI $331,760 $424,800 $513,450 $638,100
PUTNAM $331,760 $424,800 $513,450 $638,100
RALLS $331,760 $424,800 $513,450 $638,100
RANDOLPH $331,760 $424,800 $513,450 $638,100
RAY $351,900 $450,500 $544,550 $676,750
REYNOLDS $331,760 $424,800 $513,450 $638,100
RIPLEY $331,760 $424,800 $513,450 $638,100
SALINE $331,760 $424,800 $513,450 $638,100
SCHUYLER $331,760 $424,800 $513,450 $638,100
SCOTLAND $331,760 $424,800 $513,450 $638,100
SCOTT $331,760 $424,800 $513,450 $638,100
SHANNON $331,760 $424,800 $513,450 $638,100
SHELBY $331,760 $424,800 $513,450 $638,100
ST. CHARLES $331,760 $424,800 $513,450 $638,100
ST. CLAIR $331,760 $424,800 $513,450 $638,100
ST. FRANCOIS $331,760 $424,800 $513,450 $638,100
ST. LOUIS $331,760 $424,800 $513,450 $638,100
ST. LOUIS CITY $331,760 $424,800 $513,450 $638,100
STE. GENEVIEVE $331,760 $424,800 $513,450 $638,100
STODDARD $331,760 $424,800 $513,450 $638,100
STONE $331,760 $424,800 $513,450 $638,100
SULLIVAN $331,760 $424,800 $513,450 $638,100
TANEY $331,760 $424,800 $513,450 $638,100
TEXAS $331,760 $424,800 $513,450 $638,100
WARREN $331,760 $424,800 $513,450 $638,100
WASHINGTON $331,760 $424,800 $513,450 $638,100
WAYNE $331,760 $424,800 $513,450 $638,100
WEBSTER $331,760 $424,800 $513,450 $638,100
WORTH $331,760 $424,800 $513,450 $638,100
WRIGHT $331,760 $424,800 $513,450 $638,100

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