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Ohio FHA Home Loans

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

Ohio FHA Loan | Requirements | 2020 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Ohio.  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.

Ohio FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in Ohio.  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 Ohio 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 Ohio.  To have an FHA lender contact you, request a free consultation.

2020 Ohio FHA Loan Limits

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

County Single Family 2 Family 3 Family 4 Family
ADAMS COUNTY $331,760 $424,800 $513,450 $638,100
ALLEN COUNTY $331,760 $424,800 $513,450 $638,100
ASHLAND COUNTY $331,760 $424,800 $513,450 $638,100
ASHTABULA COUNTY $331,760 $424,800 $513,450 $638,100
ATHENS COUNTY $331,760 $424,800 $513,450 $638,100
AUGLAIZE COUNTY $331,760 $424,800 $513,450 $638,100
BELMONT COUNTY $331,760 $424,800 $513,450 $638,100
BROWN COUNTY $331,760 $424,800 $513,450 $638,100
BUTLER COUNTY $331,760 $424,800 $513,450 $638,100
CARROLL COUNTY $331,760 $424,800 $513,450 $638,100
CHAMPAIGN COUNTY $331,760 $424,800 $513,450 $638,100
CLARK COUNTY $331,760 $424,800 $513,450 $638,100
CLERMONT COUNTY $331,760 $424,800 $513,450 $638,100
CLINTON COUNTY $331,760 $424,800 $513,450 $638,100
COLUMBIANA COUNTY $331,760 $424,800 $513,450 $638,100
COSHOCTON COUNTY $331,760 $424,800 $513,450 $638,100
CRAWFORD COUNTY $331,760 $424,800 $513,450 $638,100
CUYAHOGA COUNTY $331,760 $424,800 $513,450 $638,100
DARKE COUNTY $331,760 $424,800 $513,450 $638,100
DEFIANCE COUNTY $331,760 $424,800 $513,450 $638,100
DELAWARE COUNTY $373,750 $478,450 $578,350 $718,750
ERIE COUNTY $331,760 $424,800 $513,450 $638,100
FAIRFIELD COUNTY $373,750 $478,450 $578,350 $718,750
FAYETTE COUNTY $331,760 $424,800 $513,450 $638,100
FRANKLIN COUNTY $373,750 $478,450 $578,350 $718,750
FULTON COUNTY $331,760 $424,800 $513,450 $638,100
GALLIA COUNTY $331,760 $424,800 $513,450 $638,100
GEAUGA COUNTY $331,760 $424,800 $513,450 $638,100
GREENE COUNTY $331,760 $424,800 $513,450 $638,100
GUERNSEY COUNTY $331,760 $424,800 $513,450 $638,100
HAMILTON COUNTY $331,760 $424,800 $513,450 $638,100
HANCOCK COUNTY $331,760 $424,800 $513,450 $638,100
HARDIN COUNTY $331,760 $424,800 $513,450 $638,100
HARRISON COUNTY $331,760 $424,800 $513,450 $638,100
HENRY COUNTY $331,760 $424,800 $513,450 $638,100
HIGHLAND COUNTY $331,760 $424,800 $513,450 $638,100
HOCKING COUNTY $373,750 $478,450 $578,350 $718,750
HOLMES COUNTY $331,760 $424,800 $513,450 $638,100
HURON COUNTY $331,760 $424,800 $513,450 $638,100
JACKSON COUNTY $331,760 $424,800 $513,450 $638,100
JEFFERSON COUNTY $331,760 $424,800 $513,450 $638,100
KNOX COUNTY $331,760 $424,800 $513,450 $638,100
LAKE COUNTY $331,760 $424,800 $513,450 $638,100
LAWRENCE COUNTY $331,760 $424,800 $513,450 $638,100
LICKING COUNTY $373,750 $478,450 $578,350 $718,750
LOGAN COUNTY $331,760 $424,800 $513,450 $638,100
LORAIN COUNTY $331,760 $424,800 $513,450 $638,100
LUCAS COUNTY $331,760 $424,800 $513,450 $638,100
MADISON COUNTY $373,750 $478,450 $578,350 $718,750
MAHONING COUNTY $331,760 $424,800 $513,450 $638,100
MARION COUNTY $331,760 $424,800 $513,450 $638,100
MEDINA COUNTY $331,760 $424,800 $513,450 $638,100
MEIGS COUNTY $331,760 $424,800 $513,450 $638,100
MERCER COUNTY $331,760 $424,800 $513,450 $638,100
MIAMI COUNTY $331,760 $424,800 $513,450 $638,100
MONROE COUNTY $331,760 $424,800 $513,450 $638,100
MONTGOMERY COUNTY $331,760 $424,800 $513,450 $638,100
MORGAN COUNTY $331,760 $424,800 $513,450 $638,100
MORROW COUNTY $373,750 $478,450 $578,350 $718,750
MUSKINGUM COUNTY $331,760 $424,800 $513,450 $638,100
NOBLE COUNTY $331,760 $424,800 $513,450 $638,100
OTTAWA COUNTY $331,760 $424,800 $513,450 $638,100
PAULDING COUNTY $331,760 $424,800 $513,450 $638,100
PERRY COUNTY $373,750 $478,450 $578,350 $718,750
PICKAWAY COUNTY $373,750 $478,450 $578,350 $718,750
PIKE COUNTY $331,760 $424,800 $513,450 $638,100
PORTAGE COUNTY $331,760 $424,800 $513,450 $638,100
PREBLE COUNTY $331,760 $424,800 $513,450 $638,100
PUTNAM COUNTY $331,760 $424,800 $513,450 $638,100
RICHLAND COUNTY $331,760 $424,800 $513,450 $638,100
ROSS COUNTY $331,760 $424,800 $513,450 $638,100
SANDUSKY COUNTY $331,760 $424,800 $513,450 $638,100
SCIOTO COUNTY $331,760 $424,800 $513,450 $638,100
SENECA COUNTY $331,760 $424,800 $513,450 $638,100
SHELBY COUNTY $331,760 $424,800 $513,450 $638,100
STARK COUNTY $331,760 $424,800 $513,450 $638,100
SUMMIT COUNTY $331,760 $424,800 $513,450 $638,100
trUMBULL COUNTY $331,760 $424,800 $513,450 $638,100
TUSCARAWAS COUNTY $331,760 $424,800 $513,450 $638,100
UNION COUNTY $373,750 $478,450 $578,350 $718,750
VAN WERT COUNTY $331,760 $424,800 $513,450 $638,100
VINTON COUNTY $331,760 $424,800 $513,450 $638,100
WARREN COUNTY $331,760 $424,800 $513,450 $638,100
WASHINGTON COUNTY $331,760 $424,800 $513,450 $638,100
WILLIAMS COUNTY $331,760 $424,800 $513,450 $638,100
WOOD COUNTY $331,760 $424,800 $513,450 $638,100
WYANDOT COUNTY $331,760 $424,800 $513,450 $638,100

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