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2021 FHA Loan Limits in Mississippi

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The federal government has raised the maximum FHA loan limit in Mississippi to $356,362 for a single-family home. The new loan limit applies to all counties across the Magnolia State.

If you’ve had your sights set on owning a home in Mississippi, now may be the time to start looking. Thanks to the Federal Housing Administration (FHA), some Mississippi residents can qualify for federally backed loans to help them buy a home. This year, homebuyers and current homeowners will be able to borrow even more with an FHA loan.

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 $356,362 $456,275 $551,500 $685,400 $104,000
Alcorn $356,362 $456,275 $551,500 $685,400 $104,000
Amite $356,362 $456,275 $551,500 $685,400 $85,000
Attala $356,362 $456,275 $551,500 $685,400 $86,000
Benton $356,362 $456,275 $551,500 $685,400 $96,000
Bolivar $356,362 $456,275 $551,500 $685,400 $106,000
Calhoun $356,362 $456,275 $551,500 $685,400 $76,000
Carroll $356,362 $456,275 $551,500 $685,400 $100,000
Chickasaw $356,362 $456,275 $551,500 $685,400 $74,000
Choctaw $356,362 $456,275 $551,500 $685,400 $92,000
Claiborne $356,362 $456,275 $551,500 $685,400 $71,000
Clarke $356,362 $456,275 $551,500 $685,400 $172,000
Clay $356,362 $456,275 $551,500 $685,400 $98,000
Coahoma $356,362 $456,275 $551,500 $685,400 $76,000
Copiah $356,362 $456,275 $551,500 $685,400 $280,000
Covington $356,362 $456,275 $551,500 $685,400 $191,000
Desoto $356,362 $456,275 $551,500 $685,400 $238,000
Forrest $356,362 $456,275 $551,500 $685,400 $191,000
Franklin $356,362 $456,275 $551,500 $685,400 $86,000
George $356,362 $456,275 $551,500 $685,400 $126,000
Greene $356,362 $456,275 $551,500 $685,400 $91,000
Grenada $356,362 $456,275 $551,500 $685,400 $112,000
Hancock $356,362 $456,275 $551,500 $685,400 $165,000
Harrison $356,362 $456,275 $551,500 $685,400 $165,000
Hinds $356,362 $456,275 $551,500 $685,400 $280,000
Holmes $356,362 $456,275 $551,500 $685,400 $280,000
Humphreys $356,362 $456,275 $551,500 $685,400 $78,000
Issaquena $356,362 $456,275 $551,500 $685,400 $104,000
Itawamba $356,362 $456,275 $551,500 $685,400 $167,000
Jackson $356,362 $456,275 $551,500 $685,400 $165,000
Jasper $356,362 $456,275 $551,500 $685,400 $108,000
Jefferson $356,362 $456,275 $551,500 $685,400 $70,000
Jefferson Davis $356,362 $456,275 $551,500 $685,400 $95,000
Jones $356,362 $456,275 $551,500 $685,400 $108,000
Kemper $356,362 $456,275 $551,500 $685,400 $172,000
Lafayette $356,362 $456,275 $551,500 $685,400 $250,000
Lamar $356,362 $456,275 $551,500 $685,400 $191,000
Lauderdale $356,362 $456,275 $551,500 $685,400 $172,000
Lawrence $356,362 $456,275 $551,500 $685,400 $105,000
Leake $356,362 $456,275 $551,500 $685,400 $118,000
Lee $356,362 $456,275 $551,500 $685,400 $167,000
Leflore $356,362 $456,275 $551,500 $685,400 $100,000
Lincoln $356,362 $456,275 $551,500 $685,400 $149,000
Lowndes $356,362 $456,275 $551,500 $685,400 $173,000
Madison $356,362 $456,275 $551,500 $685,400 $280,000
Marion $356,362 $456,275 $551,500 $685,400 $96,000
Marshall $356,362 $456,275 $551,500 $685,400 $238,000
Monroe $356,362 $456,275 $551,500 $685,400 $172,000
Montgomery $356,362 $456,275 $551,500 $685,400 $90,000
Neshoba $356,362 $456,275 $551,500 $685,400 $92,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in Mississippi?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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