Mississippi FHA Loan Rates, Closing Costs & Stats

Mississippi

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Mississippi FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Mississippi averaged 0.12% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Mississippi's average FHA mortgage closing costs are $6,792.

    The average rate for the prior week (2024-11-08) was 6.53% and one month ago for the week of 2024-10-11, the average rate was 5.83%.

    The average rate one year ago was 7.28%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.3%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Mississippi FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Mississippi level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 829 6.29% $9,163
    Trustmark National Bank 743 6.47% $7,664
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 414 6.59% $8,399
    BancorpSouth 401 6.32% $8,107
    CROSSCOUNTRY MORTGAGE, LLC 262 6.78% $10,319
    Regions Bank 245 6.25% $8,484
    Flagstar Bank, FSB 226 6.29% $10,068
    UNITED WHOLESALE MORTGAGE, LLC 199 6.47% $11,274
    DHI MORTGAGE COMPANY, LTD. 180 5.25% $6,999
    STOCKTON MORTGAGE CORPORATION 170 6.70% $10,564
    KEESLER 158 5.64% $7,412
    Renasant Bank 147 6.52% $7,985
    OPEN MORTGAGE, LLC 146 6.76% $9,830
    SWBC MORTGAGE CORPORATION 146 6.56% $7,336
    CMG MORTGAGE, INC. 134 6.67% $9,939
    CARDINAL FINANCIAL 120 6.20% $11,466
    LOANDEPOT.COM, LLC 118 6.40% $10,097
    BROKER SOLUTIONS, INC. 103 6.78% $10,625
    Nations Lending Corporation 103 6.80% $7,616
    Community Bank of Mississippi 100 6.54% $7,915
    COMMUNITY MORTGAGE CORPORATION 97 6.40% $10,963
    GMFS LLC 87 6.56% $7,425
    PLANET HOME LENDING, LLC 83 6.70% $11,374
    GUARANTEED RATE, INC. 81 6.41% $12,358
    Bank of England 78 6.51% $9,892
    FREEDOM MORTGAGE CORPORATION 78 6.80% $12,223
    MORTGAGE SOLUTIONS OF COLORADO, LLC 75 6.88% $9,145
    BankPlus 64 6.38% $6,021
    Eagle Bank and Trust Company 64 6.63% $9,888
    Mr. Cooper ( Nationstar Mortgage ) 59 6.24% $12,067
    MORTGAGE INVESTORS GROUP, INC. 54 6.69% $8,917
    AMERISAVE MORTGAGE CORPORATION 54 6.07% $11,161
    Carrington Mortgage Services, LLC 51 6.25% $10,095
    PENNYMAC LOAN SERVICES, LLC 50 6.22% $11,083
    Equity Prime Mortgage LLC 47 6.64% $11,279
    Origin Bank 46 6.43% $8,435
    FIRST COMMUNITY MORTGAGE, INC. 43 6.61% $9,192
    FIDELITY BANK 43 6.83% $8,800
    Mortgage Research Center, LLC 42 7.05% $6,019
    NEWREZ LLC 42 6.36% $8,465
    ACOPIA, LLC 38 7.15% $10,706
    DELMAR FINANCIAL COMPANY 36 6.70% $8,476
    Magnolia Bank 35 6.56% $9,569
    Merchants & Marine Bank 32 6.69% $9,589
    PRIMELENDING, A PLAINSCAPITAL COMPANY 32 7.16% $10,400
    MUTUAL OF OMAHA MORTGAGE, INC. 32 6.69% $11,622
    Plains Commerce Bank 31 6.39% $12,220
    MOVEMENT MORTGAGE, LLC 30 6.60% $8,515
    The Citizens National Bank of Meridian 28 6.71% $7,572
    DRAPER AND KRAMER MORTGAGE CORP. 27 6.74% $9,605
    AMERICAN FINANCIAL RESOURCES, INC. 26 6.11% $11,446
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 25 6.83% $8,779
    CORNERSTONE HOME LENDING, INC. 25 6.90% $9,482
    DSLD MORTGAGE, LLC 24 6.67% $5,812
    AMERICAN PACIFIC MORTGAGE CORPORATION 24 6.71% $9,219
    EUSTIS AND AMERICAN MORTGAGE COMPANY 23 6.94% $8,776
    Evolve Bank & Trust 22 6.75% $10,342
    Hancock Whitney Bank 22 6.32% $8,532
    Citizens Bank 22 5.76% $9,054
    UNION HOME MORTGAGE CORP. 21 6.68% $9,183
    GENEVA FINANCIAL, LLC 21 7.06% $11,684
    GUILD MORTGAGE COMPANY 18 6.63% $10,223
    Paramount Residential Mortgage Group, Inc. 18 6.67% $11,447
    BARTLETT MORTGAGE, INC. 17 6.05% $10,668
    LAKEVIEW LOAN SERVICING, LLC 16 6.31% $11,648
    RELIANCE FIRST CAPITAL, LLC 16 6.58% $10,988
    CIS Financial Services, Inc. 15 6.51% $10,918
    AMERICAN FINANCIAL NETWORK, INC. 14 7.09% $12,263
    SUN WEST MORTGAGE COMPANY, INC. 14 6.74% $10,739
    Barrington Bank & Trust Company, N.A. 14 6.49% $9,126
    Patriot Bank 12 5.76% $10,033
    ZILLOW HOME LOANS, LLC 12 6.66% $9,416
    EVERETT FINANCIAL, INC. 12 7.08% $11,341
    Grand Bank for Savings, FSB 12 6.51% $6,869
    ROYAL UNITED MORTGAGE LLC 11 6.82% $9,173
    FBC MORTGAGE, LLC 11 5.67% $9,578
    FirstTrust Home Loans, Inc. 11 7.07% $10,541
    AMERICAN FINANCING CORPORATION 11 6.58% $10,253
    EVANSVILLE TEACHERS 9 7.07% $8,539
    First Horizon Bank 9 6.61% $9,474
    TOWNE MORTGAGE COMPANY 9 6.80% $8,839
    Lakeview Community Capital, LLC 8 5.72% $11,679
    SOUTHWEST STAGE FUNDING, LLC 8 6.81% $5,654
    Independent Bank 8 6.51% $11,951
    AmeriHome Mortgage Company, LLC 8 6.66% $7,659
    HOMESIDE FINANCIAL, LLC 8 7.09% $10,867
    The Federal Savings Bank 8 6.50% $14,660
    LIBERTY HOME MORTGAGE CORPORATION 7 6.93% $7,427
    PLAZA HOME MORTGAGE, INC. 7 6.14% $8,999
    PENTAGON FEDERAL CREDIT UNION 7 5.55% $7,711
    ACADEMY MORTGAGE CORPORATION 7 7.23% $8,657
    LEADERONE FINANCIAL CORPORATION 7 7.12% $9,183
    Cornerstone First Mortgage, Inc 7 6.55% $11,124
    Wolfe Financial, Inc 6 5.94% $17,091
    Hamilton Mortgage Corporation 6 6.85% $8,176
    Pinnacle Bank 6 6.63% $9,253
    FIRST COLONY MORTGAGE CORPORATION 6 6.92% $15,367
    CONTOUR MORTGAGE CORPORATION 6 6.29% $12,758
    MID AMERICA MORTGAGE, INC. 6 7.56% $5,585
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 7.26% $10,618
    NEW DAY FINANCIAL, LLC 5 7.69% $7,046
    CB&S Bank, Inc. 5 6.75% $6,978
    Northpointe Bank 5 6.50% $7,820
    M&T Bank 5 6.43% $6,631
    Wells Fargo Bank 5 6.48% $8,330
    JPMorgan Chase Bank 4 6.78% $7,725
    EMM LOANS LLC 4 6.03% $14,761
    Gulf Coast Bank and Trust Company 4 6.28% $7,415
    Towne Bank 4 7.00% $7,902
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.25% $8,940
    CRESCENT MORTGAGE COMPANY 4 6.69% $6,120
    Hometown Equity Mortgage, LLC 4 6.91% $11,217
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.97% $7,531
    CHURCHILL MORTGAGE CORPORATION 4 6.59% $10,245
    Century Mortgage Company DBA Century Lending Company 4 6.22% $10,111
    BAYSHORE MORTGAGE FUNDING, LLC 4 7.31% $17,606
    SeaTrust Mortgage Company 4 6.69% $14,947
    TruHome Solutions, LLC 3 5.88% $11,603
    Ixonia Bank 3 6.67% $6,348
    Assurance Financial Group, L.L.C. 3 6.91% $8,857
    GUARANTY HOME MORTGAGE CORPORATION 3 6.25% $7,908
    First Federal Bank 3 5.92% $9,074
    First Federal Bank, A FSB 3 6.00% $9,630
    RESIDENTIAL BANCORP 3 6.92% $9,436
    VILLAGE CAPITAL MORTGAGE 3 6.17% $18,673
    MYCUMORTGAGE, LLC 2 7.38% $7,644
    BECKAM FUNDING CORP. 2 6.81% $18,834
    Colonial Savings, F.A. 2 6.56% $14,909
    EMBRACE HOME LOANS, INC. 2 6.75% $9,206
    FirstBank 2 6.88% $9,748
    FLAT BRANCH MORTGAGE, INC. 2 6.75% $10,732
    GSF Mortgage Corporation 2 7.13% $11,613
    MEMBER FIRST MORTGAGE, LLC 2 6.88% $10,273
    Merchants Bank of Indiana 2 6.88% $5,082
    1ST SIGNATURE LENDING, LLC 2 6.94% $11,116
    NETWORK CAPITAL FUNDING CORPORATION 2 5.75% $9,092
    NEXERA HOLDING LLC 2 6.31% $9,182
    PANORAMA MORTGAGE GROUP, LLC 2 6.94% $13,682
    Prosperity Home Mortgage, LLC 2 7.06% $14,313
    Republic State Mortgage Co. 2 7.00% $10,226
    RUOFF MORTGAGE COMPANY, INC. 2 5.25% $9,088
    Sierra Pacific Mortgage Company, Inc. 2 6.81% $9,007
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 6.63% $7,722
    STANDARD MORTGAGE CORPORATION 2 6.13% $6,836
    SUMMIT FUNDING, INC. 2 6.75% $8,024
    TOTAL MORTGAGE SERVICES, LLC 2 7.44% $8,766
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 6.38% $9,249
    MICHIGAN MUTUAL, INC. 1 7.13% $8,656
    Leaders Credit Union 1 7.00% $7,061
    LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $10,930
    Platinum Home Mortgage Corporation 1 6.75% $6,613
    KELLER MORTGAGE, LLC 1 6.13% $14,385
    PNC Bank 1 6.88% $3,730
    PREMIA MORTGAGE, LLC 1 7.13% $6,775
    INTERLINC MORTGAGE SERVICES, LLC 1 6.75% $15,646
    HOPE FEDERAL CREDIT UNION 1 6.00% $10,357
    United Fidelity Funding Corp. 1 6.25% $12,857
    HOMESTAR FINANCIAL CORPORATION 1 7.63% $11,820
    Hawthorn Bank 1 6.13% $8,308
    GUARANTEED RATE AFFINITY, LLC 1 7.50% $13,203
    Goldwater Bank, N.A. 1 7.50% $8,189
    BOKF 1 6.63% $8,574
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $5,296
    Gateway First Bank 1 6.25% $10,540
    U.S. Bank 1 7.75% $8,273
    GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $17,876
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.75% $7,868
    Simmons Bank 1 6.50% $5,751
    BAY EQUITY LLC 1 7.75% $12,644
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.63% $15,975
    First United Bank and Trust Company 1 6.88% $11,851
    Bank of America 1 6.63% $9,788
    First State Bank of St. Charles, Missouri 1 5.75% $7,761
    Stride Bank 1 7.13% $11,519
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $8,676
    AmRes Corporation 1 6.75% $8,191
    First Citizens National Bank 1 5.75% $7,987
    Financial Federal Bank 1 7.13% $8,899
    Synovus Bank 1 6.50% $11,567
    Fifth Third Bank 1 6.00% $5,102
    DIRECT MORTGAGE LOANS, LLC 1 6.25% $9,172
    The First, A National Banking Association 1 6.63% $10,142
    The First National Bank of Middle Tennessee 1 6.50% $11,688
    The Loan Store, Inc. 1 6.88% $15,448
    THRIVE MORTGAGE, LLC 1 6.63% $8,291
    Wyndham Capital Mortgage, Inc. 1 5.13% $9,080
    DAS Acquisition Company, LLC 1 7.63% $10,691
    C & F Mortgage Corporation 1 6.50% $5,354
    Capital Bank 1 6.75% $10,374
    Truist 1 6.75% $5,803
    CANOPY MORTGAGE, LLC 1 6.75% $9,556
    UNIFY FINANCIAL Credit Union 1 7.50% $3,029
    OCMBC, INC. 1 6.50% $12,924
    OCEANSIDE MORTGAGE COMPANY 1 6.00% $5,989
    Orion Federal Credit Union 1 6.75% $7,345
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.38% $12,706
    CALCON MUTUAL MORTGAGE LLC 1 7.25% $10,940
    North American Savings Bank, F.S.B. 1 5.50% $6,614
    NBKC BANK 1 6.13% $4,976
    MORTGAGE FINANCIAL SERVICES, LLC 1 7.25% $21,419
    MORTGAGE ACCESS CORP. 1 6.75% $15,666
    PHH Mortgage Corporation 1 7.13% $9,041

    The top Mississippi FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 829 FHA loans originated. Their average total fees are $9,163, which is $1,499 higher than the next largest lender, Trustmark National Bank.

    The lowest fee Mississippi FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($5,812), Mortgage Research Center, LLC ($6,019), BankPlus ($6,021), Grand Bank for Savings, FSB ($6,869) and DHI MORTGAGE COMPANY, LTD. ($6,999).

    The lowest rate Mississippi FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.25%), KEESLER (5.64%), FBC MORTGAGE, LLC (5.67%), Patriot Bank (5.76%) and Citizens Bank (5.76%).

    Mississippi FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NATCHEZ, MS-LA ADAMS 2022 $420,680 $538,650 $651,050 $809,150
    CORINTH, MS ALCORN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO AMITE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ATTALA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BENTON 2022 $420,680 $538,650 $651,050 $809,150
    CLEVELAND, MS BOLIVAR 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CALHOUN 2022 $420,680 $538,650 $651,050 $809,150
    GREENWOOD, MS CARROLL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CHICKASAW 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CHOCTAW 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLAIBORNE 2022 $420,680 $538,650 $651,050 $809,150
    MERIDIAN, MS CLARKE 2022 $420,680 $538,650 $651,050 $809,150
    WEST POINT, MS CLAY 2022 $420,680 $538,650 $651,050 $809,150
    CLARKSDALE, MS COAHOMA 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS COPIAH 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS COVINGTON 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR DESOTO 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS FORREST 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GEORGE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GREENE 2022 $420,680 $538,650 $651,050 $809,150
    GRENADA, MS GRENADA 2022 $420,680 $538,650 $651,050 $809,150
    GULFPORT-BILOXI, MS HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
    GULFPORT-BILOXI, MS HARRISON 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS HINDS 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS HOLMES 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HUMPHREYS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ISSAQUENA 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS ITAWAMBA 2022 $420,680 $538,650 $651,050 $809,150
    GULFPORT-BILOXI, MS JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    LAUREL, MS JASPER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO JEFFERSON DAVIS 2022 $420,680 $538,650 $651,050 $809,150
    LAUREL, MS JONES 2022 $420,680 $538,650 $651,050 $809,150
    MERIDIAN, MS KEMPER 2022 $420,680 $538,650 $651,050 $809,150
    OXFORD, MS LAFAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS LAMAR 2022 $420,680 $538,650 $651,050 $809,150
    MERIDIAN, MS LAUDERDALE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAWRENCE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LEAKE 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS LEE 2022 $420,680 $538,650 $651,050 $809,150
    GREENWOOD, MS LEFLORE 2022 $420,680 $538,650 $651,050 $809,150
    BROOKHAVEN, MS LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBUS, MS LOWNDES 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS MADISON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MARION 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MONROE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO NESHOBA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO NEWTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO NOXUBEE 2022 $420,680 $538,650 $651,050 $809,150
    STARKVILLE, MS OKTIBBEHA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PANOLA 2022 $420,680 $538,650 $651,050 $809,150
    PICAYUNE, MS PEARL RIVER 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS PERRY 2022 $420,680 $538,650 $651,050 $809,150
    MCCOMB, MS PIKE 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS PONTOTOC 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS PRENTISS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO QUITMAN 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS RANKIN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SCOTT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SHARKEY 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS SIMPSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SMITH 2022 $420,680 $538,650 $651,050 $809,150
    GULFPORT-BILOXI, MS STONE 2022 $420,680 $538,650 $651,050 $809,150
    INDIANOLA, MS SUNFLOWER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TALLAHATCHIE 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR TATE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TIPPAH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TISHOMINGO 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR TUNICA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO UNION 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WALTHALL 2022 $420,680 $538,650 $651,050 $809,150
    VICKSBURG, MS WARREN 2022 $420,680 $538,650 $651,050 $809,150
    GREENVILLE, MS WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WAYNE 2022 $420,680 $538,650 $651,050 $809,150
    STARKVILLE, MS WEBSTER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WILKINSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WINSTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO YALOBUSHA 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, MS YAZOO 2022 $420,680 $538,650 $651,050 $809,150
    NATCHEZ, MS-LA ADAMS 2023 $472,030 $604,400 $730,525 $907,900
    CORINTH, MS ALCORN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO AMITE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO ATTALA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BENTON 2023 $472,030 $604,400 $730,525 $907,900
    CLEVELAND, MS BOLIVAR 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CALHOUN 2023 $472,030 $604,400 $730,525 $907,900
    GREENWOOD, MS CARROLL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CHICKASAW 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CHOCTAW 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLAIBORNE 2023 $472,030 $604,400 $730,525 $907,900
    MERIDIAN, MS CLARKE 2023 $472,030 $604,400 $730,525 $907,900
    WEST POINT, MS CLAY 2023 $472,030 $604,400 $730,525 $907,900
    CLARKSDALE, MS COAHOMA 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS COPIAH 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS COVINGTON 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR DESOTO 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS FORREST 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GEORGE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GREENE 2023 $472,030 $604,400 $730,525 $907,900
    GRENADA, MS GRENADA 2023 $472,030 $604,400 $730,525 $907,900
    GULFPORT-BILOXI, MS HANCOCK 2023 $472,030 $604,400 $730,525 $907,900
    GULFPORT-BILOXI, MS HARRISON 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS HINDS 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS HOLMES 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HUMPHREYS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO ISSAQUENA 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS ITAWAMBA 2023 $472,030 $604,400 $730,525 $907,900
    GULFPORT-BILOXI, MS JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    LAUREL, MS JASPER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO JEFFERSON DAVIS 2023 $472,030 $604,400 $730,525 $907,900
    LAUREL, MS JONES 2023 $472,030 $604,400 $730,525 $907,900
    MERIDIAN, MS KEMPER 2023 $472,030 $604,400 $730,525 $907,900
    OXFORD, MS LAFAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS LAMAR 2023 $472,030 $604,400 $730,525 $907,900
    MERIDIAN, MS LAUDERDALE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAWRENCE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LEAKE 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS LEE 2023 $472,030 $604,400 $730,525 $907,900
    GREENWOOD, MS LEFLORE 2023 $472,030 $604,400 $730,525 $907,900
    BROOKHAVEN, MS LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBUS, MS LOWNDES 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS MADISON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MARION 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR MARSHALL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MONROE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NESHOBA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NEWTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NOXUBEE 2023 $472,030 $604,400 $730,525 $907,900
    STARKVILLE, MS OKTIBBEHA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PANOLA 2023 $472,030 $604,400 $730,525 $907,900
    PICAYUNE, MS PEARL RIVER 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS PERRY 2023 $472,030 $604,400 $730,525 $907,900
    MCCOMB, MS PIKE 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS PONTOTOC 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS PRENTISS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO QUITMAN 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS RANKIN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SCOTT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SHARKEY 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS SIMPSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SMITH 2023 $472,030 $604,400 $730,525 $907,900
    GULFPORT-BILOXI, MS STONE 2023 $472,030 $604,400 $730,525 $907,900
    INDIANOLA, MS SUNFLOWER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TALLAHATCHIE 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR TATE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TIPPAH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TISHOMINGO 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR TUNICA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO UNION 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WALTHALL 2023 $472,030 $604,400 $730,525 $907,900
    VICKSBURG, MS WARREN 2023 $472,030 $604,400 $730,525 $907,900
    GREENVILLE, MS WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WAYNE 2023 $472,030 $604,400 $730,525 $907,900
    STARKVILLE, MS WEBSTER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WILKINSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WINSTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO YALOBUSHA 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, MS YAZOO 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).