FHA Loans: What You Need to Know in 2022
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2022 FHA Loan Limits in Missouri

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Loans backed by the Federal Housing Administration (FHA) don’t require high credit scores or large down payments — but these types of mortgages still come with loan limits that can vary by area and property. In Missouri, the loan limit for a single-family home in 2022 is $420,680 in most parts of the state, including the St. Louis area. However, in the Kansas City area, loan limits increase to $431,250.

Missouri FHA loan limits by county

County nameOne unitTwo unitsThree unitsFour unitsMedian sales price
ADAIR$420,680$538,650$651,050$809,150$151,000
ANDREW$420,680$538,650$651,050$809,150$179,000
ATCHISON$420,680$538,650$651,050$809,150$84,000
AUDRAIN$420,680$538,650$651,050$809,150$119,000
BARRY$420,680$538,650$651,050$809,150$153,000
BARTON$420,680$538,650$651,050$809,150$105,000
BATES$431,250$552,050$667,350$829,350$375,000
BENTON$420,680$538,650$651,050$809,150$143,000
BOLLINGER$420,680$538,650$651,050$809,150$188,000
BOONE$420,680$538,650$651,050$809,150$242,000
BUCHANAN$420,680$538,650$651,050$809,150$179,000
BUTLER$420,680$538,650$651,050$809,150$145,000
CALDWELL$431,250$552,050$667,350$829,350$375,000
CALLAWAY$420,680$538,650$651,050$809,150$190,000
CAMDEN$420,680$538,650$651,050$809,150$297,000
CAPE GIRARDEAU$420,680$538,650$651,050$809,150$188,000
CARROLL$420,680$538,650$651,050$809,150$108,000
CARTER$420,680$538,650$651,050$809,150$137,000
CASS$431,250$552,050$667,350$829,350$375,000
CEDAR$420,680$538,650$651,050$809,150$138,000
CHARITON$420,680$538,650$651,050$809,150$118,000
CHRISTIAN$420,680$538,650$651,050$809,150$245,000
CLARK$420,680$538,650$651,050$809,150$95,000
CLAY$431,250$552,050$667,350$829,350$375,000
CLINTON$431,250$552,050$667,350$829,350$375,000
COLE$420,680$538,650$651,050$809,150$190,000
COOPER$420,680$538,650$651,050$809,150$242,000
CRAWFORD$420,680$538,650$651,050$809,150$151,000
DADE$420,680$538,650$651,050$809,150$102,000
DALLAS$420,680$538,650$651,050$809,150$245,000
DAVIESS$420,680$538,650$651,050$809,150$156,000
DEKALB$420,680$538,650$651,050$809,150$179,000
DENT$420,680$538,650$651,050$809,150$125,000
DOUGLAS$420,680$538,650$651,050$809,150$142,000
DUNKLIN$420,680$538,650$651,050$809,150$94,000
FRANKLIN$420,680$538,650$651,050$809,150$286,000
GASCONADE$420,680$538,650$651,050$809,150$163,000
GENTRY$420,680$538,650$651,050$809,150$126,000
GREENE$420,680$538,650$651,050$809,150$245,000
GRUNDY$420,680$538,650$651,050$809,150$120,000
HARRISON$420,680$538,650$651,050$809,150$93,000
HENRY$420,680$538,650$651,050$809,150$138,000
HICKORY$420,680$538,650$651,050$809,150$102,000
HOLT$420,680$538,650$651,050$809,150$108,000
HOWARD$420,680$538,650$651,050$809,150$242,000
HOWELL$420,680$538,650$651,050$809,150$157,000
IRON$420,680$538,650$651,050$809,150$99,000
JACKSON$431,250$552,050$667,350$829,350$375,000
JASPER$420,680$538,650$651,050$809,150$175,000
JEFFERSON$420,680$538,650$651,050$809,150$286,000
JOHNSON$420,680$538,650$651,050$809,150$216,000
KNOX$420,680$538,650$651,050$809,150$92,000
LACLEDE$420,680$538,650$651,050$809,150$139,000
LAFAYETTE$431,250$552,050$667,350$829,350$375,000
LAWRENCE$420,680$538,650$651,050$809,150$160,000
LEWIS$420,680$538,650$651,050$809,150$139,000
LINCOLN$420,680$538,650$651,050$809,150$286,000
LINN$420,680$538,650$651,050$809,150$87,000
LIVINGSTON$420,680$538,650$651,050$809,150$150,000
MACON$420,680$538,650$651,050$809,150$128,000
MADISON$420,680$538,650$651,050$809,150$139,000
MARIES$420,680$538,650$651,050$809,150$157,000
MARION$420,680$538,650$651,050$809,150$163,000
MCDONALD$420,680$538,650$651,050$809,150$150,000
MERCER$420,680$538,650$651,050$809,150$109,000
MILLER$420,680$538,650$651,050$809,150$178,000
MISSISSIPPI$420,680$538,650$651,050$809,150$111,000
MONITEAU$420,680$538,650$651,050$809,150$190,000
MONROE$420,680$538,650$651,050$809,150$131,000
MONTGOMERY$420,680$538,650$651,050$809,150$132,000
MORGAN$420,680$538,650$651,050$809,150$225,000
NEW MADRID$420,680$538,650$651,050$809,150$119,000
NEWTON$420,680$538,650$651,050$809,150$175,000
NODAWAY$420,680$538,650$651,050$809,150$154,000
OREGON$420,680$538,650$651,050$809,150$114,000
OSAGE$420,680$538,650$651,050$809,150$190,000
OZARK$420,680$538,650$651,050$809,150$127,000
PEMISCOT$420,680$538,650$651,050$809,150$99,000
PERRY$420,680$538,650$651,050$809,150$164,000
PETTIS$420,680$538,650$651,050$809,150$144,000
PHELPS$420,680$538,650$651,050$809,150$130,000
PIKE$420,680$538,650$651,050$809,150$153,000
PLATTE$431,250$552,050$667,350$829,350$375,000
POLK$420,680$538,650$651,050$809,150$245,000
PULASKI$420,680$538,650$651,050$809,150$181,000
PUTNAM$420,680$538,650$651,050$809,150$118,000
RALLS$420,680$538,650$651,050$809,150$163,000
RANDOLPH$420,680$538,650$651,050$809,150$128,000
RAY$431,250$552,050$667,350$829,350$375,000
REYNOLDS$420,680$538,650$651,050$809,150$127,000
RIPLEY$420,680$538,650$651,050$809,150$145,000
SALINE$420,680$538,650$651,050$809,150$128,000
SCHUYLER$420,680$538,650$651,050$809,150$151,000
SCOTLAND$420,680$538,650$651,050$809,150$113,000
SCOTT$420,680$538,650$651,050$809,150$143,000
SHANNON$420,680$538,650$651,050$809,150$135,000
SHELBY$420,680$538,650$651,050$809,150$80,000
ST. CHARLES$420,680$538,650$651,050$809,150$286,000
ST. CLAIR$420,680$538,650$651,050$809,150$120,000
ST. FRANCOIS$420,680$538,650$651,050$809,150$166,000
ST. LOUIS$420,680$538,650$651,050$809,150$286,000
ST. LOUIS CITY$420,680$538,650$651,050$809,150$286,000
STE. GENEVIEVE$420,680$538,650$651,050$809,150$169,000
STODDARD$420,680$538,650$651,050$809,150$125,000
STONE$420,680$538,650$651,050$809,150$225,000
SULLIVAN$420,680$538,650$651,050$809,150$97,000
TANEY$420,680$538,650$651,050$809,150$199,000
TEXAS$420,680$538,650$651,050$809,150$136,000
VERNON$420,680$538,650$651,050$809,150$88,000
WARREN$420,680$538,650$651,050$809,150$286,000
WASHINGTON$420,680$538,650$651,050$809,150$115,000
WAYNE$420,680$538,650$651,050$809,150$125,000
WEBSTER$420,680$538,650$651,050$809,150$245,000
WORTH$420,680$538,650$651,050$809,150$78,000
WRIGHT$420,680$538,650$651,050$809,150$160,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits each year based on two determining factors: average home sales price in the year before and the conforming loan limits set for conventional mortgages. The conforming limit is $647,200 in 2022, increasing by 18% this year as the price of home sales went up in 2021.

FHA loan limits range from 65% to 150% of the conforming loan limit. The lowest limit — called the “floor” — is 65% of the conforming loan limit, or $420,680 for a single-family home. The highest limit — called the “ceiling” — is 150% of the conforming loan limit, or $970,800, and only applies to some high-cost areas in the U.S. In addition to loan limits varying by location, multifamily properties have different limits as well.

How to qualify for an FHA loan in Missouri

Missouri homebuyers who have lower credit scores and not a lot of cash for a down payment may find that an FHA loan can help. First-time buyers in Missouri may also qualify for the Missouri first-time homebuyer programs, providing low mortgage rates and tax credits.

Before deciding on whether an FHA loan might be right for you, consider the FHA loan requirements below:

A mortgage under the FHA loan limit. The amount you borrow you can’t go over the FHA loan limit in your area.

A minimum down payment of 3.5%. To qualify for a down payment of 3.5%, your credit score must be 580 or higher.

A minimum credit score of 500 or higher. If your credit score is at least 500, you may still qualify for an FHA loan, but you’ll have to make a 10% down payment.

A debt-to-income (DTI) ratio is no more than 43%. It’s usually required that your DTI is no higher than 43%, though guidelines can vary depending on the lender.

An FHA appraisal. FHA loans need an FHA home appraisal, which can come with stricter guidelines than other types of loans.

Occupancy. Once you purchase the home, you must live in the home as your primary residence for a year or more.

Mortgage insurance premiums. You’ll need to pay for two types of FHA mortgage insurance: The upfront mortgage insurance premium (UFMIP), which is 1.75% of your loan amount, and the annual mortgage insurance premium (MIP), which can be anywhere from 0.45% to 1.05%.

Buying a multifamily property with an FHA loan

FHA loans can allow you to purchase a multifamily property with up to four units. While you can rent out some of the units for additional income, you must still live in one of them. Your credit score must be at least 580 or higher for the 3.5% down payment. All other FHA loan requirements for a single-family home will also be applied to multifamily properties.

FHA lenders in Missouri

Check out these seven highly rated mortgage lenders licensed in Missouri.

Lender nameLT ratingMinimum FHA credit score
Veterans United10/10620
Rocket Mortgage9.5/10580
PennyMac Loan Services9/10620
Pentagon Federal Credit Union8.5/10650
Flagstar Bank8/10Not disclosed
CashCall8.5/10560

 

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