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Indiana FHA Home Loans

FHA Mortgage Loan Programs in Indiana
FHA Loan Requirements - 2022 FHA Loan Limits

Indiana FHA Loans | Requirements | 2022 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Indiana.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

Indiana FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in Indiana.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2022 FHA loan limits for all counties in Indiana below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Indiana.  To have an FHA lender contact you, request a free consultation.

2022 Indiana FHA Loan Limits

Below are the 2022 FHA loan limits for every county in Indiana:

County Single Family 2 Family 3 Family 4 Family
ADAMS $420,680 $538,650 $651,050 $809,150
ALLEN $420,680 $538,650 $651,050 $809,150
BARTHOLOMEW $420,680 $538,650 $651,050 $809,150
BENTON $420,680 $538,650 $651,050 $809,150
BLACKFORD $420,680 $538,650 $651,050 $809,150
BOONE $420,680 $538,650 $651,050 $809,150
BROWN $420,680 $538,650 $651,050 $809,150
CARROLL $420,680 $538,650 $651,050 $809,150
CASS $420,680 $538,650 $651,050 $809,150
CLARK $420,680 $538,650 $651,050 $809,150
CLAY $420,680 $538,650 $651,050 $809,150
CLINTON $420,680 $538,650 $651,050 $809,150
CRAWFORD $420,680 $538,650 $651,050 $809,150
DAVIESS $420,680 $538,650 $651,050 $809,150
DEARBORN $420,680 $538,650 $651,050 $809,150
DECATUR $420,680 $538,650 $651,050 $809,150
DEKALB $420,680 $538,650 $651,050 $809,150
DELAWARE $420,680 $538,650 $651,050 $809,150
DUBOIS $420,680 $538,650 $651,050 $809,150
ELKHART $420,680 $538,650 $651,050 $809,150
FAYETTE $420,680 $538,650 $651,050 $809,150
FLOYD $420,680 $538,650 $651,050 $809,150
FOUNTAIN $420,680 $538,650 $651,050 $809,150
FRANKLIN $420,680 $538,650 $651,050 $809,150
FULTON $420,680 $538,650 $651,050 $809,150
GIBSON $420,680 $538,650 $651,050 $809,150
GRANT $420,680 $538,650 $651,050 $809,150
GREENE $420,680 $538,650 $651,050 $809,150
HAMILTON $420,680 $538,650 $651,050 $809,150
HANCOCK $420,680 $538,650 $651,050 $809,150
HARRISON $420,680 $538,650 $651,050 $809,150
HENDRICKS $420,680 $538,650 $651,050 $809,150
HENRY $420,680 $538,650 $651,050 $809,150
HOWARD $420,680 $538,650 $651,050 $809,150
HUNTINGTON $420,680 $538,650 $651,050 $809,150
JACKSON $420,680 $538,650 $651,050 $809,150
JASPER $420,680 $538,650 $651,050 $809,150
JAY $420,680 $538,650 $651,050 $809,150
JEFFERSON $420,680 $538,650 $651,050 $809,150
JENNINGS $420,680 $538,650 $651,050 $809,150
JOHNSON $420,680 $538,650 $651,050 $809,150
KNOX $420,680 $538,650 $651,050 $809,150
KOSCIUSKO $420,680 $538,650 $651,050 $809,150
LAGRANGE $420,680 $538,650 $651,050 $809,150
LAKE $420,680 $538,650 $651,050 $809,150
LAPORTE $420,680 $538,650 $651,050 $809,150
LAWRENCE $420,680 $538,650 $651,050 $809,150
MADISON $420,680 $538,650 $651,050 $809,150
MARION $420,680 $538,650 $651,050 $809,150
MARSHALL $420,680 $538,650 $651,050 $809,150
MARTIN $420,680 $538,650 $651,050 $809,150
MIAMI $420,680 $538,650 $651,050 $809,150
MONROE $420,680 $538,650 $651,050 $809,150
MONTGOMERY $420,680 $538,650 $651,050 $809,150
MORGAN $420,680 $538,650 $651,050 $809,150
NEWTON $420,680 $538,650 $651,050 $809,150
NOBLE $420,680 $538,650 $651,050 $809,150
OHIO $420,680 $538,650 $651,050 $809,150
ORANGE $420,680 $538,650 $651,050 $809,150
OWEN $420,680 $538,650 $651,050 $809,150
PARKE $420,680 $538,650 $651,050 $809,150
PERRY $420,680 $538,650 $651,050 $809,150
PIKE $420,680 $538,650 $651,050 $809,150
PORTER $420,680 $538,650 $651,050 $809,150
POSEY $420,680 $538,650 $651,050 $809,150
PULASKI $420,680 $538,650 $651,050 $809,150
PUTNAM $420,680 $538,650 $651,050 $809,150
RANDOLPH $420,680 $538,650 $651,050 $809,150
RIPLEY $420,680 $538,650 $651,050 $809,150
RUSH $420,680 $538,650 $651,050 $809,150
ST. JOSEPH $420,680 $538,650 $651,050 $809,150
SCOTT $420,680 $538,650 $651,050 $809,150
SHELBY $420,680 $538,650 $651,050 $809,150
SPENCER $420,680 $538,650 $651,050 $809,150
STARKE $420,680 $538,650 $651,050 $809,150
STEUBEN $420,680 $538,650 $651,050 $809,150
SULLIVAN $420,680 $538,650 $651,050 $809,150
SWITZERLAND $420,680 $538,650 $651,050 $809,150
TIPPECANOE $420,680 $538,650 $651,050 $809,150
TIPTON $420,680 $538,650 $651,050 $809,150
UNION $420,680 $538,650 $651,050 $809,150
VANDERBURGH $420,680 $538,650 $651,050 $809,150
VERMILLION $420,680 $538,650 $651,050 $809,150
VIGO $420,680 $538,650 $651,050 $809,150
WABASH $420,680 $538,650 $651,050 $809,150
WARREN $420,680 $538,650 $651,050 $809,150
WARRICK $420,680 $538,650 $651,050 $809,150
WASHINGTON $420,680 $538,650 $651,050 $809,150
WAYNE $420,680 $538,650 $651,050 $809,150
WELLS $420,680 $538,650 $651,050 $809,150
WHITE $420,680 $538,650 $651,050 $809,150
WHITLEY $420,680 $538,650 $651,050 $809,150

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