Mississippi FHA Loan Rates, Closing Costs & Stats

Mississippi

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 6.38% for the week of 2024-07-12, compared to the national average (all FHA variants) of 6.655% for the same period.

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

The average rate for the prior week (2024-07-05) was 6.65% and one month ago for the week of 2024-06-07, the average rate was 6.62%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.76%.

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).