No matter what side of I-70 you live on, whether you're rooting for the Cardinals or the Royals, or whether you pronounce it Missour-ee or Missou-rah, buying a house in The Show-Me State is a great choice.
FHA loans are great for Missouri homebuyers who maybe don’t have an established credit history, or don’t want to spend a lot of money on a down payment. Continue reading to see if an FHA loan in Missouri is right for you.
Thousands of people are purchasing homes in the Show-Me State, and many are using FHA home loans to do so. As of April 2019, the total value of FHA loans in Missouri was $177 million, which makes it a highly popular mortgage option.
Knowing how much a lender is going to let you borrow is important when beginning your house hunting journey. That said, there are maximum loan limits in place throughout Missouri. These limits are adjusted annually and depend on which county you want to live. The baseline limit in Missouri for 2024 is $498,257 but this may be higher in some counties. Use the table below to see the full list of Missouri FHA loan limits for 2024.
County | FHA Loan Limit |
---|---|
Bates | $498,257 |
Caldwell | $498,257 |
Cass | $498,257 |
Clay | $498,257 |
Clinton | $498,257 |
Jackson | $498,257 |
Lafayette | $498,257 |
Platte | $498,257 |
Ray | $498,257 |
All other areas | $498,257 |
You may be eligible for an FHA loan, if you:
Credit Requirements
Employment Requirements
Mortgage Insurance Premium Requirements
Buyers must be able to provide the following information and documents as requested by lenders:
Note: Facts and figures sourced from the latest statistics available at the time of this writing including data from the United States Department of Labor, United States Census Bureau and the United States Department of Housing and Urban Development.