Home LoansFHA Loans

2019 FHA Loan Limits in Mississippi

In Mississippi, the FHA loan limit for a single-family home is $314,827 statewide, matching the FHA national maximum for most areas in the U.S. This means Mississippi does not have any areas that are in the “high cost” category.

However, the Mississippi housing market is heating up. According to a report by the National Association of Realtors, median home values in Mississippi increased by 49% from 2005 to 2018, rising to $123,586.

In 2018, the average home price across the state increased by 19.4%, according to the First American Real House Price Index, making Mississippi one of the top five fastest-growing housing markets in the U.S.

If you’re looking to buy a home in Mississippi, you may be considering an FHA loan, which has proven a popular option across the state. The 2016 FHA annual report to Congress showed a 9% jump in FHA loan shares over a one-year period, which was the most of any state. The same report found that FHA loans accounted for 29% of all loan originations in Mississippi, with 8,919 loans totaling $1.3 billion (this is the most recent report featuring this data). In fiscal year 2018, just less than 1% of nationwide FHA loans were originated in Mississippi.

Mississippi FHA loan limits by county

FHA Loan Limits in Mississippi
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
ADAMS $314,827 $403,125 $487,250 $605,525 $95,000
ALCORN $314,827 $403,125 $487,250 $605,525 $92,000
AMITE $314,827 $403,125 $487,250 $605,525 $125,000
ATTALA $314,827 $403,125 $487,250 $605,525 $80,000
BENTON $314,827 $403,125 $487,250 $605,525 $204,000
BOLIVAR $314,827 $403,125 $487,250 $605,525 $92,000
CALHOUN $314,827 $403,125 $487,250 $605,525 $72,000
CARROLL $314,827 $403,125 $487,250 $605,525 $96,000
CHICKASAW $314,827 $403,125 $487,250 $605,525 $64,000
CHOCTAW $314,827 $403,125 $487,250 $605,525 $83,000
CLAIBORNE $314,827 $403,125 $487,250 $605,525 $117,000
CLARKE $314,827 $403,125 $487,250 $605,525 $94,000
CLAY $314,827 $403,125 $487,250 $605,525 $87,000
COAHOMA $314,827 $403,125 $487,250 $605,525 $67,000
COPIAH $314,827 $403,125 $487,250 $605,525 $249,000
COVINGTON $314,827 $403,125 $487,250 $605,525 $77,000
DESOTO $314,827 $403,125 $487,250 $605,525 $204,000
FORREST $314,827 $403,125 $487,250 $605,525 $179,000
FRANKLIN $314,827 $403,125 $487,250 $605,525 $79,000
GEORGE $314,827 $403,125 $487,250 $605,525 $104,000
GREENE $314,827 $403,125 $487,250 $605,525 $94,000
GRENADA $314,827 $403,125 $487,250 $605,525 $101,000
HANCOCK $314,827 $403,125 $487,250 $605,525 $146,000
HARRISON $314,827 $403,125 $487,250 $605,525 $146,000
HINDS $314,827 $403,125 $487,250 $605,525 $249,000
HOLMES $314,827 $403,125 $487,250 $605,525 $55,000
HUMPHREYS $314,827 $403,125 $487,250 $605,525 $66,000
ISSAQUENA $314,827 $403,125 $487,250 $605,525 $82,000
ITAWAMBA $314,827 $403,125 $487,250 $605,525 $128,000
JACKSON $314,827 $403,125 $487,250 $605,525 $146,000
JASPER $314,827 $403,125 $487,250 $605,525 $91,000
JEFFERSON $314,827 $403,125 $487,250 $605,525 $64,000
JEFFERSON DAVIS $314,827 $403,125 $487,250 $605,525 $87,000
JONES $314,827 $403,125 $487,250 $605,525 $91,000
KEMPER $314,827 $403,125 $487,250 $605,525 $94,000
LAFAYETTE $314,827 $403,125 $487,250 $605,525 $246,000
LAMAR $314,827 $403,125 $487,250 $605,525 $179,000
LAUDERDALE $314,827 $403,125 $487,250 $605,525 $94,000
LAWRENCE $314,827 $403,125 $487,250 $605,525 $96,000
LEAKE $314,827 $403,125 $487,250 $605,525 $83,000
LEE $314,827 $403,125 $487,250 $605,525 $128,000
LEFLORE $314,827 $403,125 $487,250 $605,525 $96,000
LINCOLN $314,827 $403,125 $487,250 $605,525 $138,000
LOWNDES $314,827 $403,125 $487,250 $605,525 $161,000
MADISON $314,827 $403,125 $487,250 $605,525 $249,000
MARION $314,827 $403,125 $487,250 $605,525 $82,000
MARSHALL $314,827 $403,125 $487,250 $605,525 $204,000
MONROE $314,827 $403,125 $487,250 $605,525 $88,000
MONTGOMERY $314,827 $403,125 $487,250 $605,525 $82,000
NESHOBA $314,827 $403,125 $487,250 $605,525 $85,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits based on the conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2019, that limit is $484,350.

The FHA “floor” is the largest mortgage the agency will insure in most of the country and is set at $314,827 for 2019. The FHA “ceiling” applies to high-cost areas and is set at 150% of the conforming loan limit, or $726,525. Outside of a few exceptions, this is the highest mortgage the agency will insure for a single-family home. In other areas, loan limits fall somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in Mississippi?

An FHA loan may be able to help you become a homeowner, but you will need to qualify. Your credit score, income level and debt-to-income ratio will all be taken into consideration by lenders. To learn more about qualifying for an FHA loan and other information about the process, visit LendingTree’s main FHA page.

 

Compare FHA Loans for Free