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FHA Loan Limits For States
| State/Territory | Minimum Loan Limit | Maximum Loan Limit |
|---|---|---|
| Alabama | $498,257 | $498,257 |
| Alaska | $498,257 | $1,149,825 |
| Arizona | $498,257 | $530,150 |
| Arkansas | $498,257 | $498,257 |
| California | $498,257 | $1,149,825 |
| Colorado | $498,257 | $1,149,825 |
| Connecticut | $498,257 | $1,149,825 |
| Delaware | $498,257 | $498,257 |
| District of Columbia | $1,149,825 | $1,149,825 |
| Florida | $498,257 | $1,149,825 |
| Georgia | $498,257 | $515,200 |
| Hawaii | $498,257 | $1,149,825 |
| Idaho | $498,257 | $586,500 |
| Illinois | $498,257 | $498,257 |
| Indiana | $498,257 | $498,257 |
| Iowa | $498,257 | $498,257 |
| Kansas | $498,257 | $498,257 |
| Kentucky | $498,257 | $498,257 |
| Louisiana | $498,257 | $498,257 |
| Maine | $498,257 | $498,257 |
| Maryland | $498,257 | $1,149,825 |
| Massachusetts | $498,257 | $1,149,825 |
| Michigan | $498,257 | $498,257 |
| Minnesota | $498,257 | $515,200 |
| Mississippi | $498,257 | $498,257 |
| Missouri | $498,257 | $498,257 |
| Montana | $498,257 | $498,257 |
| Nebraska | $498,257 | $498,257 |
| Nevada | $498,257 | $1,149,825 |
| New Hampshire | $498,257 | $1,149,825 |
| New Jersey | $498,257 | $1,149,825 |
| New Mexico | $498,257 | $498,257 |
| New York | $498,257 | $1,149,825 |
| North Carolina | $498,257 | $498,257 |
| North Dakota | $498,257 | $498,257 |
| Ohio | $498,257 | $498,257 |
| Oklahoma | $498,257 | $498,257 |
| Oregon | $498,257 | $1,149,825 |
| Pennsylvania | $498,257 | $1,149,825 |
| Rhode Island | $498,257 | $1,149,825 |
| South Carolina | $498,257 | $498,257 |
| South Dakota | $498,257 | $498,257 |
| Tennessee | $498,257 | $498,257 |
| Texas | $498,257 | $1,149,825 |
| Utah | $498,257 | $1,149,825 |
| Vermont | $498,257 | $498,257 |
| Virginia | $498,257 | $1,149,825 |
| Washington | $498,257 | $977,500 |
| West Virginia | $498,257 | $498,257 |
| Wisconsin | $498,257 | $498,257 |
| Wyoming | $498,257 | $1,149,825 |
FHA Loan Requirements
| Requirement | Details |
|---|---|
| Credit Score | Minimum of 580 for 3.5% down payment; scores between 500–579 require a 10% down payment. |
| Down Payment | Minimum 3.5% for credit scores of 580 and above; 10% for scores between 500 and 579. |
| Debt-to-Income Ratio | Generally, a maximum DTI of 43%; however, higher DTIs may be allowed with compensating factors (e.g., larger down payment or significant cash reserves). |
| Mortgage Insurance | Two types of mortgage insurance premiums (MIP): an upfront MIP of 1.75% of the loan amount and an annual MIP (0.45%-1.05%) added to monthly payments. |
| Employment History | Must show stable employment history for the last two years, preferably with the same employer. |
| Primary Residence | FHA loans are intended for primary residences only. The borrower must occupy the home as their principal residence. |
| Loan Limits | Vary by county, with a national floor of $498,257 and a ceiling of $1,149,825 for single-family homes. |
| Property Standards | The home must meet HUD minimum property standards, ensuring it is safe, sound, and secure. A property appraisal will be required. |
| Bankruptcy Waiting Period | Must wait two years after Chapter 7 bankruptcy discharge and one year after Chapter 13 with court approval and on-time payments. |
| Foreclosure Waiting Period | A three-year waiting period is required after foreclosure; exceptions may apply for extenuating circumstances. |
| Cash Reserve Requirements | While FHA loans generally do not have cash reserve requirements, some lenders may require them, especially for borrowers with lower credit scores. |