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FHA Loan Limits in Texas
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If you’re looking to buy a house in Texas and you qualify for a mortgage insured by the Federal Housing Administration (FHA), also known as an FHA loan, you can borrow up to $472,030 for a single-family home in most counties. The limits are higher in the Dallas-Fort Worth, San Antonio and Austin metro areas.
Texas FHA loan limits by county
| County name | One units | Two units | Three units | Four units | Median sale price |
|---|---|---|---|---|---|
| ANDERSON | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| ANDREWS | $472,030 | $604,400 | $730,525 | $907,900 | $223,000 |
| ANGELINA | $472,030 | $604,400 | $730,525 | $907,900 | $194,000 |
| ARANSAS | $472,030 | $604,400 | $730,525 | $907,900 | $284,000 |
| ARCHER | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| ARMSTRONG | $472,030 | $604,400 | $730,525 | $907,900 | $248,000 |
| ATASCOSA | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| AUSTIN | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| BAILEY | $472,030 | $604,400 | $730,525 | $907,900 | $137,000 |
| BANDERA | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| BASTROP | $571,550 | $731,700 | $884,450 | $1,099,150 | $497,000 |
| BAYLOR | $472,030 | $604,400 | $730,525 | $907,900 | $103,000 |
| BEE | $472,030 | $604,400 | $730,525 | $907,900 | $154,000 |
| BELL | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| BEXAR | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| BLANCO | $472,030 | $604,400 | $730,525 | $907,900 | $317,000 |
| BORDEN | $472,030 | $604,400 | $730,525 | $907,900 | $283,000 |
| BOSQUE | $472,030 | $604,400 | $730,525 | $907,900 | $179,000 |
| BOWIE | $472,030 | $604,400 | $730,525 | $907,900 | $176,000 |
| BRAZORIA | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| BRAZOS | $472,030 | $604,400 | $730,525 | $907,900 | $293,000 |
| BREWSTER | $472,030 | $604,400 | $730,525 | $907,900 | $261,000 |
| BRISCOE | $472,030 | $604,400 | $730,525 | $907,900 | $75,000 |
| BROOKS | $472,030 | $604,400 | $730,525 | $907,900 | $69,000 |
| BROWN | $472,030 | $604,400 | $730,525 | $907,900 | $169,000 |
| BURLESON | $472,030 | $604,400 | $730,525 | $907,900 | $293,000 |
| BURNET | $472,030 | $604,400 | $730,525 | $907,900 | $300,000 |
| CALDWELL | $571,550 | $731,700 | $884,450 | $1,099,150 | $497,000 |
| CALHOUN | $472,030 | $604,400 | $730,525 | $907,900 | $175,000 |
| CALLAHAN | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| CAMERON | $472,030 | $604,400 | $730,525 | $907,900 | $198,000 |
| CAMP | $472,030 | $604,400 | $730,525 | $907,900 | $202,000 |
| CARSON | $472,030 | $604,400 | $730,525 | $907,900 | $248,000 |
| CASS | $472,030 | $604,400 | $730,525 | $907,900 | $152,000 |
| CASTRO | $472,030 | $604,400 | $730,525 | $907,900 | $138,000 |
| CHAMBERS | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| CHEROKEE | $472,030 | $604,400 | $730,525 | $907,900 | $171,000 |
| CHILDRESS | $472,030 | $604,400 | $730,525 | $907,900 | $88,000 |
| CLAY | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| COCHRAN | $472,030 | $604,400 | $730,525 | $907,900 | $86,000 |
| COKE | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| COLEMAN | $472,030 | $604,400 | $730,525 | $907,900 | $98,000 |
| COLLIN | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| COLLINGSWORTH | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| COLORADO | $472,030 | $604,400 | $730,525 | $907,900 | $233,000 |
| COMAL | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| COMANCHE | $472,030 | $604,400 | $730,525 | $907,900 | $141,000 |
| CONCHO | $472,030 | $604,400 | $730,525 | $907,900 | $157,000 |
| COOKE | $472,030 | $604,400 | $730,525 | $907,900 | $243,000 |
| CORYELL | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| COTTLE | $472,030 | $604,400 | $730,525 | $907,900 | $80,000 |
| CRANE | $472,030 | $604,400 | $730,525 | $907,900 | $64,000 |
| CROCKETT | $472,030 | $604,400 | $730,525 | $907,900 | $172,000 |
| CROSBY | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| CULBERSON | $472,030 | $604,400 | $730,525 | $907,900 | $164,000 |
| DALLAM | $472,030 | $604,400 | $730,525 | $907,900 | $139,000 |
| DALLAS | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| DAWSON | $472,030 | $604,400 | $730,525 | $907,900 | $137,000 |
| DEAF SMITH | $472,030 | $604,400 | $730,525 | $907,900 | $134,000 |
| DELTA | $472,030 | $604,400 | $730,525 | $907,900 | $318,000 |
| DENTON | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| DEWITT | $472,030 | $604,400 | $730,525 | $907,900 | $178,000 |
| DICKENS | $472,030 | $604,400 | $730,525 | $907,900 | $78,000 |
| DIMMIT | $472,030 | $604,400 | $730,525 | $907,900 | $163,000 |
| DONLEY | $472,030 | $604,400 | $730,525 | $907,900 | $137,000 |
| DUVAL | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| EASTLAND | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| ECTOR | $472,030 | $604,400 | $730,525 | $907,900 | $243,000 |
| EDWARDS | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| EL PASO | $472,030 | $604,400 | $730,525 | $907,900 | $225,000 |
| ELLIS | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| ERATH | $472,030 | $604,400 | $730,525 | $907,900 | $209,000 |
| FALLS | $472,030 | $604,400 | $730,525 | $907,900 | $258,000 |
| FANNIN | $472,030 | $604,400 | $730,525 | $907,900 | $207,000 |
| FAYETTE | $472,030 | $604,400 | $730,525 | $907,900 | $247,000 |
| FISHER | $472,030 | $604,400 | $730,525 | $907,900 | $86,000 |
| FLOYD | $472,030 | $604,400 | $730,525 | $907,900 | $189,000 |
| FOARD | $472,030 | $604,400 | $730,525 | $907,900 | $92,000 |
| FORT BEND | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| FRANKLIN | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| FREESTONE | $472,030 | $604,400 | $730,525 | $907,900 | $164,000 |
| FRIO | $472,030 | $604,400 | $730,525 | $907,900 | $161,000 |
| GAINES | $472,030 | $604,400 | $730,525 | $907,900 | $97,000 |
| GALVESTON | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| GARZA | $472,030 | $604,400 | $730,525 | $907,900 | $144,000 |
| GILLESPIE | $472,030 | $604,400 | $730,525 | $907,900 | $405,000 |
| GLASSCOCK | $472,030 | $604,400 | $730,525 | $907,900 | $375,000 |
| GOLIAD | $472,030 | $604,400 | $730,525 | $907,900 | $226,000 |
| GONZALES | $472,030 | $604,400 | $730,525 | $907,900 | $170,000 |
| GRAY | $472,030 | $604,400 | $730,525 | $907,900 | $139,000 |
| GRAYSON | $472,030 | $604,400 | $730,525 | $907,900 | $265,000 |
| GREGG | $472,030 | $604,400 | $730,525 | $907,900 | $221,000 |
| GRIMES | $472,030 | $604,400 | $730,525 | $907,900 | $219,000 |
| GUADALUPE | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| HALE | $472,030 | $604,400 | $730,525 | $907,900 | $154,000 |
| HALL | $472,030 | $604,400 | $730,525 | $907,900 | $56,000 |
| HAMILTON | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| HANSFORD | $472,030 | $604,400 | $730,525 | $907,900 | $162,000 |
| HARDEMAN | $472,030 | $604,400 | $730,525 | $907,900 | $75,000 |
| HARDIN | $472,030 | $604,400 | $730,525 | $907,900 | $228,000 |
| HARRIS | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| HARRISON | $472,030 | $604,400 | $730,525 | $907,900 | $221,000 |
| HARTLEY | $472,030 | $604,400 | $730,525 | $907,900 | $246,000 |
| HASKELL | $472,030 | $604,400 | $730,525 | $907,900 | $98,000 |
| HAYS | $571,550 | $731,700 | $884,450 | $1,099,150 | $497,000 |
| HEMPHILL | $472,030 | $604,400 | $730,525 | $907,900 | $146,000 |
| HENDERSON | $472,030 | $604,400 | $730,525 | $907,900 | $210,000 |
| HIDALGO | $472,030 | $604,400 | $730,525 | $907,900 | $190,000 |
| HILL | $472,030 | $604,400 | $730,525 | $907,900 | $201,000 |
| HOCKLEY | $472,030 | $604,400 | $730,525 | $907,900 | $163,000 |
| HOOD | $472,030 | $604,400 | $730,525 | $907,900 | $288,000 |
| HOPKINS | $472,030 | $604,400 | $730,525 | $907,900 | $220,000 |
| HOUSTON | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| HOWARD | $472,030 | $604,400 | $730,525 | $907,900 | $172,000 |
| HUDSPETH | $472,030 | $604,400 | $730,525 | $907,900 | $225,000 |
| HUNT | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| HUTCHINSON | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| IRION | $472,030 | $604,400 | $730,525 | $907,900 | $219,000 |
| JACK | $472,030 | $604,400 | $730,525 | $907,900 | $188,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $162,000 |
| JASPER | $472,030 | $604,400 | $730,525 | $907,900 | $157,000 |
| JEFF DAVIS | $472,030 | $604,400 | $730,525 | $907,900 | $218,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $228,000 |
| JIM HOGG | $472,030 | $604,400 | $730,525 | $907,900 | $52,000 |
| JIM WELLS | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| JOHNSON | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| JONES | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| KARNES | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| KAUFMAN | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| KENDALL | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| KENEDY | $472,030 | $604,400 | $730,525 | $907,900 | $157,000 |
| KENT | $472,030 | $604,400 | $730,525 | $907,900 | $55,000 |
| KERR | $472,030 | $604,400 | $730,525 | $907,900 | $298,000 |
| KIMBLE | $472,030 | $604,400 | $730,525 | $907,900 | $275,000 |
| KING | $472,030 | $604,400 | $730,525 | $907,900 | $34,000 |
| KINNEY | $472,030 | $604,400 | $730,525 | $907,900 | $149,000 |
| KLEBERG | $472,030 | $604,400 | $730,525 | $907,900 | $157,000 |
| KNOX | $472,030 | $604,400 | $730,525 | $907,900 | $63,000 |
| LA SALLE | $472,030 | $604,400 | $730,525 | $907,900 | $161,000 |
| LAMAR | $472,030 | $604,400 | $730,525 | $907,900 | $181,000 |
| LAMB | $472,030 | $604,400 | $730,525 | $907,900 | $129,000 |
| LAMPASAS | $472,030 | $604,400 | $730,525 | $907,900 | $257,000 |
| LAVACA | $472,030 | $604,400 | $730,525 | $907,900 | $210,000 |
| LEE | $472,030 | $604,400 | $730,525 | $907,900 | $233,000 |
| LEON | $472,030 | $604,400 | $730,525 | $907,900 | $175,000 |
| LIBERTY | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| LIMESTONE | $472,030 | $604,400 | $730,525 | $907,900 | $151,000 |
| LIPSCOMB | $472,030 | $604,400 | $730,525 | $907,900 | $107,000 |
| LIVE OAK | $472,030 | $604,400 | $730,525 | $907,900 | $167,000 |
| LLANO | $472,030 | $604,400 | $730,525 | $907,900 | $287,000 |
| LOVING | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| LUBBOCK | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| LYNN | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| MADISON | $472,030 | $604,400 | $730,525 | $907,900 | $187,000 |
| MARION | $472,030 | $604,400 | $730,525 | $907,900 | $141,000 |
| MARTIN | $472,030 | $604,400 | $730,525 | $907,900 | $325,000 |
| MASON | $472,030 | $604,400 | $730,525 | $907,900 | $288,000 |
| MATAGORDA | $472,030 | $604,400 | $730,525 | $907,900 | $185,000 |
| MAVERICK | $472,030 | $604,400 | $730,525 | $907,900 | $204,000 |
| MCCULLOCH | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| MCLENNAN | $472,030 | $604,400 | $730,525 | $907,900 | $258,000 |
| MCMULLEN | $472,030 | $604,400 | $730,525 | $907,900 | $174,000 |
| MEDINA | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| MENARD | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| MIDLAND | $472,030 | $604,400 | $730,525 | $907,900 | $325,000 |
| MILAM | $472,030 | $604,400 | $730,525 | $907,900 | $188,000 |
| MILLS | $472,030 | $604,400 | $730,525 | $907,900 | $206,000 |
| MITCHELL | $472,030 | $604,400 | $730,525 | $907,900 | $107,000 |
| MONTAGUE | $472,030 | $604,400 | $730,525 | $907,900 | $181,000 |
| MONTGOMERY | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| MOORE | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| MORRIS | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| MOTLEY | $472,030 | $604,400 | $730,525 | $907,900 | $109,000 |
| NACOGDOCHES | $472,030 | $604,400 | $730,525 | $907,900 | $196,000 |
| NAVARRO | $472,030 | $604,400 | $730,525 | $907,900 | $170,000 |
| NEWTON | $472,030 | $604,400 | $730,525 | $907,900 | $168,000 |
| NOLAN | $472,030 | $604,400 | $730,525 | $907,900 | $141,000 |
| NUECES | $472,030 | $604,400 | $730,525 | $907,900 | $265,000 |
| OCHILTREE | $472,030 | $604,400 | $730,525 | $907,900 | $156,000 |
| OLDHAM | $472,030 | $604,400 | $730,525 | $907,900 | $248,000 |
| ORANGE | $472,030 | $604,400 | $730,525 | $907,900 | $228,000 |
| PALO PINTO | $472,030 | $604,400 | $730,525 | $907,900 | $194,000 |
| PANOLA | $472,030 | $604,400 | $730,525 | $907,900 | $180,000 |
| PARKER | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| PARMER | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| PECOS | $472,030 | $604,400 | $730,525 | $907,900 | $155,000 |
| POLK | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| POTTER | $472,030 | $604,400 | $730,525 | $907,900 | $248,000 |
| PRESIDIO | $472,030 | $604,400 | $730,525 | $907,900 | $230,000 |
| RAINS | $472,030 | $604,400 | $730,525 | $907,900 | $191,000 |
| RANDALL | $472,030 | $604,400 | $730,525 | $907,900 | $248,000 |
| REAGAN | $472,030 | $604,400 | $730,525 | $907,900 | $157,000 |
| REAL | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| RED RIVER | $472,030 | $604,400 | $730,525 | $907,900 | $93,000 |
| REEVES | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| REFUGIO | $472,030 | $604,400 | $730,525 | $907,900 | $162,000 |
| ROBERTS | $472,030 | $604,400 | $730,525 | $907,900 | $139,000 |
| ROBERTSON | $472,030 | $604,400 | $730,525 | $907,900 | $293,000 |
| ROCKWALL | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| RUNNELS | $472,030 | $604,400 | $730,525 | $907,900 | $119,000 |
| RUSK | $472,030 | $604,400 | $730,525 | $907,900 | $221,000 |
| SABINE | $472,030 | $604,400 | $730,525 | $907,900 | $146,000 |
| SAN AUGUSTINE | $472,030 | $604,400 | $730,525 | $907,900 | $104,000 |
| SAN JACINTO | $472,030 | $604,400 | $730,525 | $907,900 | $162,000 |
| SAN PATRICIO | $472,030 | $604,400 | $730,525 | $907,900 | $265,000 |
| SAN SABA | $472,030 | $604,400 | $730,525 | $907,900 | $148,000 |
| SCHLEICHER | $472,030 | $604,400 | $730,525 | $907,900 | $133,000 |
| SCURRY | $472,030 | $604,400 | $730,525 | $907,900 | $134,000 |
| SHACKELFORD | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| SHELBY | $472,030 | $604,400 | $730,525 | $907,900 | $141,000 |
| SHERMAN | $472,030 | $604,400 | $730,525 | $907,900 | $158,000 |
| SMITH | $472,030 | $604,400 | $730,525 | $907,900 | $266,000 |
| SOMERVELL | $472,030 | $604,400 | $730,525 | $907,900 | $180,000 |
| STARR | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| STEPHENS | $472,030 | $604,400 | $730,525 | $907,900 | $144,000 |
| STERLING | $472,030 | $604,400 | $730,525 | $907,900 | $219,000 |
| STONEWALL | $472,030 | $604,400 | $730,525 | $907,900 | $188,000 |
| SUTTON | $472,030 | $604,400 | $730,525 | $907,900 | $133,000 |
| SWISHER | $472,030 | $604,400 | $730,525 | $907,900 | $101,000 |
| TARRANT | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| TAYLOR | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| TERRELL | $472,030 | $604,400 | $730,525 | $907,900 | $96,000 |
| TERRY | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| THROCKMORTON | $472,030 | $604,400 | $730,525 | $907,900 | $179,000 |
| TITUS | $472,030 | $604,400 | $730,525 | $907,900 | $202,000 |
| TOM GREEN | $472,030 | $604,400 | $730,525 | $907,900 | $219,000 |
| TRAVIS | $571,550 | $731,700 | $884,450 | $1,099,150 | $497,000 |
| TRINITY | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| TYLER | $472,030 | $604,400 | $730,525 | $907,900 | $137,000 |
| UPSHUR | $472,030 | $604,400 | $730,525 | $907,900 | $221,000 |
| UPTON | $472,030 | $604,400 | $730,525 | $907,900 | $116,000 |
| UVALDE | $472,030 | $604,400 | $730,525 | $907,900 | $188,000 |
| VAL VERDE | $472,030 | $604,400 | $730,525 | $907,900 | $208,000 |
| VAN ZANDT | $472,030 | $604,400 | $730,525 | $907,900 | $219,000 |
| VICTORIA | $472,030 | $604,400 | $730,525 | $907,900 | $226,000 |
| WALKER | $472,030 | $604,400 | $730,525 | $907,900 | $228,000 |
| WALLER | $472,030 | $604,400 | $730,525 | $907,900 | $371,000 |
| WARD | $472,030 | $604,400 | $730,525 | $907,900 | $196,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $288,000 |
| WEBB | $472,030 | $604,400 | $730,525 | $907,900 | $228,000 |
| WHARTON | $472,030 | $604,400 | $730,525 | $907,900 | $208,000 |
| WHEELER | $472,030 | $604,400 | $730,525 | $907,900 | $122,000 |
| WICHITA | $472,030 | $604,400 | $730,525 | $907,900 | $231,000 |
| WILBARGER | $472,030 | $604,400 | $730,525 | $907,900 | $95,000 |
| WILLACY | $472,030 | $604,400 | $730,525 | $907,900 | $55,000 |
| WILLIAMSON | $571,550 | $731,700 | $884,450 | $1,099,150 | $497,000 |
| WILSON | $524,400 | $671,300 | $811,450 | $1,008,450 | $456,000 |
| WINKLER | $472,030 | $604,400 | $730,525 | $907,900 | $174,000 |
| WISE | $531,300 | $680,150 | $822,150 | $1,021,750 | $462,000 |
| WOOD | $472,030 | $604,400 | $730,525 | $907,900 | $215,000 |
| YOAKUM | $472,030 | $604,400 | $730,525 | $907,900 | $197,000 |
| YOUNG | $472,030 | $604,400 | $730,525 | $907,900 | $148,000 |
| ZAPATA | $472,030 | $604,400 | $730,525 | $907,900 | $84,000 |
| ZAVALA | $472,030 | $604,400 | $730,525 | $907,900 | $63,000 |
How are FHA loan limits determined?
FHA loan limits are set by county and determined largely by the median home prices over the previous year. The Federal Housing Finance Agency (FHFA) uses home price data to set the conforming loan limits used for conventional loans. The U.S. Department of Housing and Urban Development (HUD) uses these limits to set both a “floor” and “ceiling” for FHA loans.
The floor is the maximum loan amount you can borrow through an FHA loan in most of the country; it’s determined by calculating 65% of the conforming loan limit. The ceiling applies to high-cost areas and is up to 150% of the conforming loan limit. FHA floor and ceiling limits for a single-family loan are $472,030 and $1,089,300, respectively.
How to qualify for an FHA loan in Texas
FHA loans offer Texans a chance to buy a home with a lower credit score and a smaller down payment than they’d need to meet conventional loan requirements.
Here are the FHA loan requirements you’ll need to meet:
A minimum 3.5% down payment. If you have a 580 credit score or higher, you can put as little as 3.5% down.
A credit score of 500 or better. Conventional mortgages typically require a minimum credit score of 620. FHA loans are more lenient, but if your score falls between 500 and 579, you’ll need to put at least 10% down.
A mortgage under the FHA loan limit. For homes that cost more than the limit, you’ll have to come up with a larger down payment or other funding to make up the difference.
A debt-to-income (DTI) ratio of 43% or less. Your DTI ratio shows how much of your monthly income is being used to pay off your debts. FHA lenders typically prefer a DTI of 43% or below.
An FHA home appraisal. An FHA-approved home appraisal is required before you close to both determine your home’s value and ensure that it’s safe and of reasonable quality.
Mortgage insurance. For FHA loans, two mortgage insurance premiums apply. One is charged up front at closing and is known as the upfront mortgage insurance premium (UFMIP). This premium is 1.75% of the loan amount. The annual mortgage insurance premium (MIP) ranges between 0.15% and 0.75% of your loan amount. Over the life of the loan, you’ll pay it in 12 installments as part of your monthly bill.
Occupancy. You must live in the home as your primary residence for at least 12 months after you purchase it with an FHA loan.
Buying a multifamily property with an FHA loan
If you’re planning on buying a multifamily home, the same FHA loan requirements will apply. With a qualifying credit score, you may be able to buy a home with up to four separate living units and still put down just 3.5%. The loan limits are higher for multifamily homes.
FHA lenders in Texas
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Mr. Cooper | 4.5 stars | Not disclosed |
| PennyMac | 5 stars | 580 |
| Flagstar Bank | 5 stars | 580 |
| Bank of America | 5 stars | Not disclosed |