FHA Loan Requirements, Limits and Approval Tips
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2023 FHA Loan Limits in Missouri

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Whether you prefer the Kansas City Royals or the St. Louis Cardinals, getting an FHA loan in Missouri can make homeownership possible as it has more flexible requirements than conventional loans, with a smaller minimum down payment and a less stringent credit score qualification.

All single-family homes in the Show-Me State qualify for mortgage amounts up to $472,030 in loans backed by the Federal Housing Administration (FHA).

Missouri FHA loan limits by county

County nameOne unitTwo unitsThree unitsFour unitsMedian sales price
ADAIR$472,030 $604,400 $730,525 $907,900 $165,000
ANDREW$472,030 $604,400 $730,525 $907,900 $202,000
ATCHISON$472,030 $604,400 $730,525 $907,900 $113,000
AUDRAIN$472,030 $604,400 $730,525 $907,900 $131,000
BARRY$472,030 $604,400 $730,525 $907,900 $162,000
BARTON$472,030 $604,400 $730,525 $907,900 $119,000
BATES$472,030 $604,400 $730,525 $907,900 $410,000
BENTON$472,030 $604,400 $730,525 $907,900 $174,000
BOLLINGER$472,030 $604,400 $730,525 $907,900 $200,000
BOONE$472,030 $604,400 $730,525 $907,900 $271,000
BUCHANAN$472,030 $604,400 $730,525 $907,900 $202,000
BUTLER$472,030 $604,400 $730,525 $907,900 $158,000
CALDWELL$472,030 $604,400 $730,525 $907,900 $410,000
CALLAWAY$472,030 $604,400 $730,525 $907,900 $218,000
CAMDEN$472,030 $604,400 $730,525 $907,900 $335,000
CAPE GIRARDEAU$472,030 $604,400 $730,525 $907,900 $200,000
CARROLL$472,030 $604,400 $730,525 $907,900 $133,000
CARTER$472,030 $604,400 $730,525 $907,900 $148,000
CASS$472,030 $604,400 $730,525 $907,900 $410,000
CEDAR$472,030 $604,400 $730,525 $907,900 $140,000
CHARITON$472,030 $604,400 $730,525 $907,900 $157,000
CHRISTIAN$472,030 $604,400 $730,525 $907,900 $280,000
CLARK$472,030 $604,400 $730,525 $907,900 $112,000
CLAY$472,030 $604,400 $730,525 $907,900 $410,000
CLINTON$472,030 $604,400 $730,525 $907,900 $410,000
COLE$472,030 $604,400 $730,525 $907,900 $218,000
COOPER$472,030 $604,400 $730,525 $907,900 $271,000
CRAWFORD$472,030 $604,400 $730,525 $907,900 $170,000
DADE$472,030 $604,400 $730,525 $907,900 $145,000
DALLAS$472,030 $604,400 $730,525 $907,900 $280,000
DAVIESS$472,030 $604,400 $730,525 $907,900 $165,000
DEKALB$472,030 $604,400 $730,525 $907,900 $202,000
DENT$472,030 $604,400 $730,525 $907,900 $149,000
DOUGLAS$472,030 $604,400 $730,525 $907,900 $178,000
DUNKLIN$472,030 $604,400 $730,525 $907,900 $112,000
FRANKLIN$472,030 $604,400 $730,525 $907,900 $330,000
GASCONADE$472,030 $604,400 $730,525 $907,900 $175,000
GENTRY$472,030 $604,400 $730,525 $907,900 $132,000
GREENE$472,030 $604,400 $730,525 $907,900 $280,000
GRUNDY$472,030 $604,400 $730,525 $907,900 $36,000
HARRISON$472,030 $604,400 $730,525 $907,900 $107,000
HENRY$472,030 $604,400 $730,525 $907,900 $164,000
HICKORY$472,030 $604,400 $730,525 $907,900 $116,000
HOLT$472,030 $604,400 $730,525 $907,900 $126,000
HOWARD$472,030 $604,400 $730,525 $907,900 $271,000
HOWELL$472,030 $604,400 $730,525 $907,900 $168,000
IRON$472,030 $604,400 $730,525 $907,900 $117,000
JACKSON$472,030 $604,400 $730,525 $907,900 $410,000
JASPER$472,030 $604,400 $730,525 $907,900 $191,000
JEFFERSON$472,030 $604,400 $730,525 $907,900 $330,000
JOHNSON$472,030 $604,400 $730,525 $907,900 $225,000
KNOX$472,030 $604,400 $730,525 $907,900 $107,000
LACLEDE$472,030 $604,400 $730,525 $907,900 $166,000
LAFAYETTE$472,030 $604,400 $730,525 $907,900 $410,000
LAWRENCE$472,030 $604,400 $730,525 $907,900 $177,000
LEWIS$472,030 $604,400 $730,525 $907,900 $134,000
LINCOLN$472,030 $604,400 $730,525 $907,900 $330,000
LINN$472,030 $604,400 $730,525 $907,900 $104,000
LIVINGSTON$472,030 $604,400 $730,525 $907,900 $133,000
MACON$472,030 $604,400 $730,525 $907,900 $132,000
MADISON$472,030 $604,400 $730,525 $907,900 $145,000
MARIES$472,030 $604,400 $730,525 $907,900 $157,000
MARION$472,030 $604,400 $730,525 $907,900 $191,000
MCDONALD$472,030 $604,400 $730,525 $907,900 $158,000
MERCER$472,030 $604,400 $730,525 $907,900 $73,000
MILLER$472,030 $604,400 $730,525 $907,900 $191,000
MISSISSIPPI$472,030 $604,400 $730,525 $907,900 $107,000
MONITEAU$472,030 $604,400 $730,525 $907,900 $218,000
MONROE$472,030 $604,400 $730,525 $907,900 $143,000
MONTGOMERY$472,030 $604,400 $730,525 $907,900 $213,000
MORGAN$472,030 $604,400 $730,525 $907,900 $215,000
NEW MADRID$472,030 $604,400 $730,525 $907,900 $114,000
NEWTON$472,030 $604,400 $730,525 $907,900 $191,000
NODAWAY$472,030 $604,400 $730,525 $907,900 $180,000
OREGON$472,030 $604,400 $730,525 $907,900 $140,000
OSAGE$472,030 $604,400 $730,525 $907,900 $218,000
OZARK$472,030 $604,400 $730,525 $907,900 $160,000
PEMISCOT$472,030 $604,400 $730,525 $907,900 $97,000
PERRY$472,030 $604,400 $730,525 $907,900 $173,000
PETTIS$472,030 $604,400 $730,525 $907,900 $162,000
PHELPS$472,030 $604,400 $730,525 $907,900 $208,000
PIKE$472,030 $604,400 $730,525 $907,900 $160,000
PLATTE$472,030 $604,400 $730,525 $907,900 $410,000
POLK$472,030 $604,400 $730,525 $907,900 $280,000
PULASKI$472,030 $604,400 $730,525 $907,900 $175,000
PUTNAM$472,030 $604,400 $730,525 $907,900 $141,000
RALLS$472,030 $604,400 $730,525 $907,900 $191,000
RANDOLPH$472,030 $604,400 $730,525 $907,900 $190,000
RAY$472,030 $604,400 $730,525 $907,900 $410,000
REYNOLDS$472,030 $604,400 $730,525 $907,900 $154,000
RIPLEY$472,030 $604,400 $730,525 $907,900 $158,000
SALINE$472,030 $604,400 $730,525 $907,900 $149,000
SCHUYLER$472,030 $604,400 $730,525 $907,900 $165,000
SCOTLAND$472,030 $604,400 $730,525 $907,900 $143,000
SCOTT$472,030 $604,400 $730,525 $907,900 $150,000
SHANNON$472,030 $604,400 $730,525 $907,900 $145,000
SHELBY$472,030 $604,400 $730,525 $907,900 $96,000
ST. CHARLES$472,030 $604,400 $730,525 $907,900 $330,000
ST. CLAIR$472,030 $604,400 $730,525 $907,900 $141,000
ST. FRANCOIS$472,030 $604,400 $730,525 $907,900 $175,000
ST. LOUIS$472,030 $604,400 $730,525 $907,900 $330,000
ST. LOUIS CITY$472,030 $604,400 $730,525 $907,900 $330,000
STE. GENEVIEVE$472,030 $604,400 $730,525 $907,900 $193,000
STODDARD$472,030 $604,400 $730,525 $907,900 $139,000
STONE$472,030 $604,400 $730,525 $907,900 $265,000
SULLIVAN$472,030 $604,400 $730,525 $907,900 $95,000
TANEY$472,030 $604,400 $730,525 $907,900 $229,000
TEXAS$472,030 $604,400 $730,525 $907,900 $104,000
VERNON$472,030 $604,400 $730,525 $907,900 $145,000
WARREN$472,030 $604,400 $730,525 $907,900 $330,000
WASHINGTON$472,030 $604,400 $730,525 $907,900 $139,000
WAYNE$472,030 $604,400 $730,525 $907,900 $115,000
WEBSTER$472,030 $604,400 $730,525 $907,900 $280,000
WORTH$472,030 $604,400 $730,525 $907,900 $101,000
WRIGHT$472,030 $604,400 $730,525 $907,900 $165,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) uses the conforming loan limit to determine how much you can finance in an FHA loan. It changes each year based on how much the national average home sales price changed in the year before.

The lowest FHA loan limit – called the “floor” – is 65% of the conforming loan limit amount and applies to most areas of the nation. In 2023, it’s $472,030 for a one-unit home. The top limit — called the “ceiling” — is 150% of the conforming loan limit and only applies to the highest-cost urban areas.

How to qualify for an FHA loan in Missouri

Before you can get an FHA loan in the Show-Me State, you’ll need to show that you meet the following qualifications to an FHA lender.

  • Minimum 500 to 580 credit score. FHA borrowers need at least a 500 credit score, although if your score is higher (580+), you can qualify for a smaller minimum down payment.
  • 3.5% to 10% down payment. You need to make only a 3.5% down payment if your score is 580 or higher. If your score is lower, you’ll need to put at least 10% down.
  • Maximum debt-to-income (DTI) ratio of 43% to 50%. Your DTI ratio shows how much of your monthly income you spend each month in debt payments. If about a third of your monthly paycheck is eaten up by student loan, auto loan and credit card payments, then your DIT is about 33%. You generally need a DTI below 43% to qualify for an FHA loan, although some lenders could make an exception up to 50%.
  • An FHA home appraisal. You need to get an FHA home appraisal on the home you plan to purchase.
  • FHA mortgage insurances. The FHA annual mortgage insurance premium (MIP) is added to your monthly payment and costs 0.45% to 1.05% of your loan amount. The upfront mortgage insurance premium (UFMIP) is typically rolled into the mortgage and costs 1.75% of your loan amount.
  • Primary residency. You must live in the home that you purchased with your FHA loan for at least a year.

Buying a multifamily property with an FHA loan

The FHA loan program isn’t just for single-family properties. You could buy a multifamily home as long as you meet the same lenient requirements, such as 3.5% down. You could even use the income you expect to earn from renting out the other units to help you qualify for the loan.

The property still needs to be your primary residence for at least a year, but you could live in one unit and rent out the others during that time.

FHA lenders in Missouri

Lender nameLT ratingMinimum FHA credit score
Better Mortgage5 stars580
Rocket Mortgage5 stars580
Truist Mortgage4 stars580
Guild Mortgage3 stars540

 

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