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Wisconsin FHA Home Loans

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

Wisconsin FHA Loan | Requirements | 2020 FHA Loan Limits

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

Wisconsin FHA Loan Requirements

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

2020 Wisconsin FHA Loan Limits

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

County $Single Family (1 Unit) 2 Units 3 Units 4 Units
ADAMS $331,760 $424,800 $513,450 $638,100
ASHLAND $331,760 $424,800 $513,450 $638,100
BARRON $331,760 $424,800 $513,450 $638,100
BAYFIELD $331,760 $424,800 $513,450 $638,100
BROWN $331,760 $424,800 $513,450 $638,100
BUFFALO $331,760 $424,800 $513,450 $638,100
BURNETT $331,760 $424,800 $513,450 $638,100
CALUMET $331,760 $424,800 $513,450 $638,100
CHIPPEWA $331,760 $424,800 $513,450 $638,100
CLARK $331,760 $424,800 $513,450 $638,100
COLUMBIA $333,500 $426,950 $516,050 $641,350
CRAWFORD $331,760 $424,800 $513,450 $638,100
DANE $333,500 $426,950 $516,050 $641,350
DODGE $331,760 $424,800 $513,450 $638,100
DOOR $331,760 $424,800 $513,450 $638,100
DOUGLAS $331,760 $424,800 $513,450 $638,100
DUNN $331,760 $424,800 $513,450 $638,100
EAU CLAIRE $331,760 $424,800 $513,450 $638,100
FLORENCE $331,760 $424,800 $513,450 $638,100
FOND DU LAC $331,760 $424,800 $513,450 $638,100
FOREST $331,760 $424,800 $513,450 $638,100
GRANT $331,760 $424,800 $513,450 $638,100
GREEN $333,500 $426,950 $516,050 $641,350
GREEN LAKE $331,760 $424,800 $513,450 $638,100
IOWA $333,500 $426,950 $516,050 $641,350
IRON $331,760 $424,800 $513,450 $638,100
JACKSON $331,760 $424,800 $513,450 $638,100
JEFFERSON $331,760 $424,800 $513,450 $638,100
JUNEAU $331,760 $424,800 $513,450 $638,100
KENOSHA $368,000 $471,100 $569,450 $707,700
KEWAUNEE $331,760 $424,800 $513,450 $638,100
LA CROSSE $331,760 $424,800 $513,450 $638,100
LAFAYETTE $331,760 $424,800 $513,450 $638,100
LANGLADE $331,760 $424,800 $513,450 $638,100
LINCOLN $331,760 $424,800 $513,450 $638,100
MANITOWOC $331,760 $424,800 $513,450 $638,100
MARATHON $331,760 $424,800 $513,450 $638,100
MARINETTE $331,760 $424,800 $513,450 $638,100
MARQUETTE $331,760 $424,800 $513,450 $638,100
MENOMINEE $331,760 $424,800 $513,450 $638,100
MILWAUKEE $339,250 $434,300 $524,950 $652,400
MONROE $331,760 $424,800 $513,450 $638,100
OCONTO $331,760 $424,800 $513,450 $638,100
ONEIDA $331,760 $424,800 $513,450 $638,100
OUTAGAMIE $331,760 $424,800 $513,450 $638,100
OZAUKEE $339,250 $434,300 $524,950 $652,400
PEPIN $331,760 $424,800 $513,450 $638,100
PIERCE $382,950 $490,250 $592,600 $736,450
POLK $331,760 $424,800 $513,450 $638,100
PORTAGE $331,760 $424,800 $513,450 $638,100
PRICE $331,760 $424,800 $513,450 $638,100
RACINE $331,760 $424,800 $513,450 $638,100
RICHLAND $331,760 $424,800 $513,450 $638,100
ROCK $331,760 $424,800 $513,450 $638,100
RUSK $331,760 $424,800 $513,450 $638,100
SAUK $331,760 $424,800 $513,450 $638,100
SAWYER $331,760 $424,800 $513,450 $638,100
SHAWANO $331,760 $424,800 $513,450 $638,100
SHEBOYGAN $331,760 $424,800 $513,450 $638,100
ST. CROIX $382,950 $490,250 $592,600 $736,450
TAYLOR $331,760 $424,800 $513,450 $638,100
trEMPEALEAU $331,760 $424,800 $513,450 $638,100
VERNON $331,760 $424,800 $513,450 $638,100
VILAS $331,760 $424,800 $513,450 $638,100
WALWORTH $331,760 $424,800 $513,450 $638,100
WASHBURN $331,760 $424,800 $513,450 $638,100
WASHINGTON $339,250 $434,300 $524,950 $652,400
WAUKESHA $339,250 $434,300 $524,950 $652,400
WAUPACA $331,760 $424,800 $513,450 $638,100
WAUSHARA $331,760 $424,800 $513,450 $638,100
WINNEBAGO $331,760 $424,800 $513,450 $638,100
WOOD $331,760 $424,800 $513,450 $638,100

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