2024 FHA Loan Limits in Iowa
Timothy Manni started his career as a writer, but for the better part of the last 15 years he has been an editor and content team leader in the mortgage and home buying space. For six years, he lead the Mortgage Content team at NerdWallet, and before that he was the managing editor at HSH.com. Currently, he’s utilizing his years of expertise to help websites like LendingTree, Yahoo Finance and MoneyGeek elevate the information they are sharing with consumers.
FHA loans offer many advantages to homebuyers across the country. With this type of loan, limits dictate the maximum amount borrowers can secure for their dream home, and statewide, Iowan homebuyers can borrow up to $498,257 for a single-family FHA home loan.
If an FHA loan is the chosen route to homeownership, knowing these limits empowers homebuyers to make informed decisions and ensures they’re prepared to navigate the loan process.
Iowa FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ADAIR | $498,257 | $637,950 | $771,125 | $958,350 | $119,000 |
| ADAMS | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| ALLAMAKEE | $498,257 | $637,950 | $771,125 | $958,350 | $118,000 |
| APPANOOSE | $498,257 | $637,950 | $771,125 | $958,350 | $88,000 |
| AUDUBON | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| BENTON | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| BLACK HAWK | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| BOONE | $498,257 | $637,950 | $771,125 | $958,350 | $245,000 |
| BREMER | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| BUCHANAN | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| BUENA VISTA | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| BUTLER | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| CARROLL | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| CASS | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| CEDAR | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| CERRO GORDO | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| CHEROKEE | $498,257 | $637,950 | $771,125 | $958,350 | $97,000 |
| CHICKASAW | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| CLARKE | $498,257 | $637,950 | $771,125 | $958,350 | $116,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| CLAYTON | $498,257 | $637,950 | $771,125 | $958,350 | $129,000 |
| CLINTON | $498,257 | $637,950 | $771,125 | $958,350 | $118,000 |
| CRAWFORD | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| DALLAS | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| DAVIS | $498,257 | $637,950 | $771,125 | $958,350 | $123,000 |
| DECATUR | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| DELAWARE | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| DES MOINES | $498,257 | $637,950 | $771,125 | $958,350 | $188,000 |
| DICKINSON | $498,257 | $637,950 | $771,125 | $958,350 | $290,000 |
| DUBUQUE | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| EMMET | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| FAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $88,000 |
| FLOYD | $498,257 | $637,950 | $771,125 | $958,350 | $98,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| FREMONT | $498,257 | $637,950 | $771,125 | $958,350 | $89,000 |
| GREENE | $498,257 | $637,950 | $771,125 | $958,350 | $93,000 |
| GRUNDY | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| GUTHRIE | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| HAMILTON | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| HANCOCK | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| HARDIN | $498,257 | $637,950 | $771,125 | $958,350 | $98,000 |
| HARRISON | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| HENRY | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| HOWARD | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| HUMBOLDT | $498,257 | $637,950 | $771,125 | $958,350 | $137,000 |
| IDA | $498,257 | $637,950 | $771,125 | $958,350 | $93,000 |
| IOWA | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $134,000 |
| JASPER | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| JOHNSON | $498,257 | $637,950 | $771,125 | $958,350 | $315,000 |
| JONES | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| KEOKUK | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| KOSSUTH | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| LINN | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| LOUISA | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| LUCAS | $498,257 | $637,950 | $771,125 | $958,350 | $117,000 |
| LYON | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| MAHASKA | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $167,000 |
| MARSHALL | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| MILLS | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| MITCHELL | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| MONONA | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $82,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $91,000 |
| MUSCATINE | $498,257 | $637,950 | $771,125 | $958,350 | $153,000 |
| O'BRIEN | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| OSCEOLA | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| PAGE | $498,257 | $637,950 | $771,125 | $958,350 | $86,000 |
| PALO ALTO | $498,257 | $637,950 | $771,125 | $958,350 | $98,000 |
| PLYMOUTH | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| POCAHONTAS | $498,257 | $637,950 | $771,125 | $958,350 | $69,000 |
| POLK | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| POTTAWATTAMIE | $498,257 | $637,950 | $771,125 | $958,350 | $325,000 |
| POWESHIEK | $498,257 | $637,950 | $771,125 | $958,350 | $161,000 |
| RINGGOLD | $498,257 | $637,950 | $771,125 | $958,350 | $90,000 |
| SAC | $498,257 | $637,950 | $771,125 | $958,350 | $91,000 |
| SCOTT | $498,257 | $637,950 | $771,125 | $958,350 | $195,000 |
| SHELBY | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| SIOUX | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| STORY | $498,257 | $637,950 | $771,125 | $958,350 | $245,000 |
| TAMA | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| TAYLOR | $498,257 | $637,950 | $771,125 | $958,350 | $63,000 |
| UNION | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| VAN BUREN | $498,257 | $637,950 | $771,125 | $958,350 | $73,000 |
| WAPELLO | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| WARREN | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $315,000 |
| WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $71,000 |
| WEBSTER | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| WINNEBAGO | $498,257 | $637,950 | $771,125 | $958,350 | $122,000 |
| WINNESHIEK | $498,257 | $637,950 | $771,125 | $958,350 | $178,000 |
| WOODBURY | $498,257 | $637,950 | $771,125 | $958,350 | $359,000 |
| WORTH | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| WRIGHT | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
How are FHA loan limits determined?
For 2024, the FHA loan limit for one-unit properties sits at $498,257 for most areas of the country, though it can reach up to $1,149,825 in high-cost areas.
These limits are based on a percentage of the national conforming loan limit, which is $766,550. The FHA’s “floor” limit is calculated by taking 65% of the national conforming loan limit, and the”ceiling” is calculated using 150% of the national conforming loan limit.
How to qualify for an FHA loan in Iowa
The requirements for obtaining an FHA loan include specific criteria regarding the homebuyer’s finances and the property. Here’s how to qualify for an FHA loan in Iowa:
→ Credit score. The minimum credit score needed to buy a home with an FHA loan is 500, although lenders have higher requirements for lower down payments.
→ Down payment. A minimum down payment of 3.5% is reserved for credit scores of 580 or higher, or a down payment of 10%, reserved for credit scores under 580.
→ Debt-to-income (DTI) ratio. The DTI ratio must be 43% or lower to ensure affordability of the loan.
→ Property appraisal. Properties financed with FHA loans must be appraised to ensure they meet value and safety guidelines.
→ Owner occupancy. Property must be the owner’s primary residence.
→ Mortgage insurance. FHA loans require mortgage insurance premiums to be paid upfront and monthly over the life of the loan.
→ Cash reserves. Borrowers may need to demonstrate sufficient cash reserves to cover a certain number of mortgage payments, serving as a safety net in case of financial hardship.
Buying a multifamily property with an FHA loan
If you plan to buy a multifamily home with an FHA loan, expect similar advantages as those buying a single-family home, such as low down payments and competitive interest rates. You’ll also see similar requirements, including a credit score of 500 or higher, down payment of 3.5% or 10% and a DTI ratio of 43% or lower.
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Iowa
| Lender | LendingTree rating | Minimum FHA credit score | |
|---|---|---|---|
 |  Read our review | 580 | Get offers |
 | Read our review | Not disclosed | Get offers |
 | Read our review | 580 | Get offers |
 | Read our review | 580 | Get offers |
 |  Read our review | 580 | Get offers |