What is an FHA Loan? Requirements, How to Get One and Best Lenders
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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

2024 FHA Loan Limits in Missouri

Updated on:
Content was accurate at the time of publication.

For homebuyers with limited funds for a down payment, a Federal Housing Administration (FHA) mortgage can be a useful solution, allowing you to purchase a home with just 3.5% down. However, FHA loans have limits on how much you can borrow, and FHA limits may vary by state and county.

All counties in Missouri have an FHA loan limit of $498,257 for single-family homes. Luckily, that limit should be more than enough. Based on the median sales prices for counties in Missouri, home sales ranged from $116,000 to $427,000, well below the FHA maximum limits.

County nameOne unitTwo unitsThree unitsFour unitsMedian sales price
ADAIR$498,257$637,950$771,125$958,350$162,000
ANDREW$498,257$637,950$771,125$958,350$211,000
ATCHISON$498,257$637,950$771,125$958,350$125,000
AUDRAIN$498,257$637,950$771,125$958,350$136,000
BARRY$498,257$637,950$771,125$958,350$172,000
BARTON$498,257$637,950$771,125$958,350$135,000
BATES$498,257$637,950$771,125$958,350$427,000
BENTON$498,257$637,950$771,125$958,350$192,000
BOLLINGER$498,257$637,950$771,125$958,350$205,000
BOONE$498,257$637,950$771,125$958,350$288,000
BUCHANAN$498,257$637,950$771,125$958,350$211,000
BUTLER$498,257$637,950$771,125$958,350$147,000
CALDWELL$498,257$637,950$771,125$958,350$427,000
CALLAWAY$498,257$637,950$771,125$958,350$224,000
CAMDEN$498,257$637,950$771,125$958,350$344,000
CAPE GIRARDEAU$498,257$637,950$771,125$958,350$205,000
CARROLL$498,257$637,950$771,125$958,350$136,000
CARTER$498,257$637,950$771,125$958,350$145,000
CASS$498,257$637,950$771,125$958,350$427,000
CEDAR$498,257$637,950$771,125$958,350$160,000
CHARITON$498,257$637,950$771,125$958,350$144,000
CHRISTIAN$498,257$637,950$771,125$958,350$285,000
CLARK$498,257$637,950$771,125$958,350$113,000
CLAY$498,257$637,950$771,125$958,350$427,000
CLINTON$498,257$637,950$771,125$958,350$427,000
COLE$498,257$637,950$771,125$958,350$224,000
COOPER$498,257$637,950$771,125$958,350$288,000
CRAWFORD$498,257$637,950$771,125$958,350$174,000
DADE$498,257$637,950$771,125$958,350$161,000
DALLAS$498,257$637,950$771,125$958,350$285,000
DAVIESS$498,257$637,950$771,125$958,350$182,000
DEKALB$498,257$637,950$771,125$958,350$211,000
DENT$498,257$637,950$771,125$958,350$160,000
DOUGLAS$498,257$637,950$771,125$958,350$166,000
DUNKLIN$498,257$637,950$771,125$958,350$120,000
FRANKLIN$498,257$637,950$771,125$958,350$350,000
GASCONADE$498,257$637,950$771,125$958,350$169,000
GENTRY$498,257$637,950$771,125$958,350$153,000
GREENE$498,257$637,950$771,125$958,350$285,000
GRUNDY$498,257$637,950$771,125$958,350$137,000
HARRISON$498,257$637,950$771,125$958,350$121,000
HENRY$498,257$637,950$771,125$958,350$182,000
HICKORY$498,257$637,950$771,125$958,350$130,000
HOLT$498,257$637,950$771,125$958,350$144,000
HOWARD$498,257$637,950$771,125$958,350$288,000
HOWELL$498,257$637,950$771,125$958,350$181,000
IRON$498,257$637,950$771,125$958,350$122,000
JACKSON$498,257$637,950$771,125$958,350$427,000
JASPER$498,257$637,950$771,125$958,350$190,000
JEFFERSON$498,257$637,950$771,125$958,350$350,000
JOHNSON$498,257$637,950$771,125$958,350$236,000
KNOX$498,257$637,950$771,125$958,350$116,000
LACLEDE$498,257$637,950$771,125$958,350$177,000
LAFAYETTE$498,257$637,950$771,125$958,350$427,000
LAWRENCE$498,257$637,950$771,125$958,350$180,000
LEWIS$498,257$637,950$771,125$958,350$137,000
LINCOLN$498,257$637,950$771,125$958,350$350,000
LINN$498,257$637,950$771,125$958,350$109,000
LIVINGSTON$498,257$637,950$771,125$958,350$144,000
MACON$498,257$637,950$771,125$958,350$151,000
MADISON$498,257$637,950$771,125$958,350$144,000
MARIES$498,257$637,950$771,125$958,350$190,000
MARION$498,257$637,950$771,125$958,350$195,000
MCDONALD$498,257$637,950$771,125$958,350$175,000
MERCER$498,257$637,950$771,125$958,350$121,000
MILLER$498,257$637,950$771,125$958,350$197,000
MISSISSIPPI$498,257$637,950$771,125$958,350$90,000
MONITEAU$498,257$637,950$771,125$958,350$224,000
MONROE$498,257$637,950$771,125$958,350$128,000
MONTGOMERY$498,257$637,950$771,125$958,350$215,000
MORGAN$498,257$637,950$771,125$958,350$225,000
NEW MADRID$498,257$637,950$771,125$958,350$115,000
NEWTON$498,257$637,950$771,125$958,350$190,000
NODAWAY$498,257$637,950$771,125$958,350$152,000
OREGON$498,257$637,950$771,125$958,350$149,000
OSAGE$498,257$637,950$771,125$958,350$224,000
OZARK$498,257$637,950$771,125$958,350$169,000
PEMISCOT$498,257$637,950$771,125$958,350$116,000
PERRY$498,257$637,950$771,125$958,350$179,000
PETTIS$498,257$637,950$771,125$958,350$174,000
PHELPS$498,257$637,950$771,125$958,350$197,000
PIKE$498,257$637,950$771,125$958,350$144,000
PLATTE$498,257$637,950$771,125$958,350$427,000
POLK$498,257$637,950$771,125$958,350$285,000
PULASKI$498,257$637,950$771,125$958,350$205,000
PUTNAM$498,257$637,950$771,125$958,350$124,000
RALLS$498,257$637,950$771,125$958,350$195,000
RANDOLPH$498,257$637,950$771,125$958,350$201,000
RAY$498,257$637,950$771,125$958,350$427,000
REYNOLDS$498,257$637,950$771,125$958,350$152,000
RIPLEY$498,257$637,950$771,125$958,350$147,000
SALINE$498,257$637,950$771,125$958,350$143,000
SCHUYLER$498,257$637,950$771,125$958,350$162,000
SCOTLAND$498,257$637,950$771,125$958,350$164,000
SCOTT$498,257$637,950$771,125$958,350$146,000
SHANNON$498,257$637,950$771,125$958,350$149,000
SHELBY$498,257$637,950$771,125$958,350$81,000
ST. CHARLES$498,257$637,950$771,125$958,350$350,000
ST. CLAIR$498,257$637,950$771,125$958,350$113,000
ST. FRANCOIS$498,257$637,950$771,125$958,350$179,000
ST. LOUIS$498,257$637,950$771,125$958,350$350,000
ST. LOUIS CITY$498,257$637,950$771,125$958,350$350,000
STE. GENEVIEVE$498,257$637,950$771,125$958,350$182,000
STODDARD$498,257$637,950$771,125$958,350$145,000
STONE$498,257$637,950$771,125$958,350$265,000
SULLIVAN$498,257$637,950$771,125$958,350$100,000
TANEY$498,257$637,950$771,125$958,350$219,000
TEXAS$498,257$637,950$771,125$958,350$164,000
VERNON$498,257$637,950$771,125$958,350$163,000
WARREN$498,257$637,950$771,125$958,350$350,000
WASHINGTON$498,257$637,950$771,125$958,350$151,000
WAYNE$498,257$637,950$771,125$958,350$101,000
WEBSTER$498,257$637,950$771,125$958,350$285,000
WORTH$498,257$637,950$771,125$958,350$100,000
WRIGHT$498,257$637,950$771,125$958,350$164,000

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Each year, the Federal Housing Finance Agency (FHFA) sets the maximum loan limits for conventional mortgages — mortgages that aren’t issued through government programs, rather that are owned or guaranteed by Fannie Mae or Freddie Mac.

FHA loan limits take the conforming loan limit, and metro area home price data into account. Based on these factors, the FHA sets a “floor” and a “ceiling”:

  • Floor: The floor is the maximum loan amount the FHA permits in lower-cost areas, and it’s calculated as 65% of the conforming loan limit. Nationally, the floor limit is $498,257 for a one-unit and $958,250 for a four-unit.
  • Ceiling: The ceiling is the maximum loan amount for designated high-cost areas, and it’s calculated as 150% of the national conforming loan limit. In high-cost areas, the ceiling for single units is $1,149,825.

Missouri has a relatively low cost of living. According to the Missouri Economic Research and Information Center, it has the sixth-lowest cost of living in the country, and the limit for every county within the state matches the FHA national floor limit of $498,257.

FHA loans are appealing not just because of their low down payment requirements, but also because they can be helpful options for those with less-than-stellar credit. To qualify for an FHA loan, you must meet the following requirements:

 Credit score: To qualify for the minimum down payment requirement of 3.5%, you must have a credit score of at least 580. You can still get an FHA loan if your credit score is as low as 500, but you’ll need at least 10% of the purchase price as a down payment.

 Down payment: The minimum down payment required for FHA loans is 3.5%. In Missouri, the median listing price is under $300,000. That means you’ll need to save around $10,000 to meet the 3.5% down payment requirement.

 Mortgage insurance: To protect lenders against the risk of default, borrowers must have mortgage insurance. For FHA loans, mortgage insurance is paid both upfront and on a monthly basis. Upfront mortgage insurance premium (UFMIP) is 1.75% of the base loan amount, and is usually paid as part of your closing costs. However, you may be able to roll the UFMIP into your mortgage. The monthly cost for insurance ranges from 0.15% to 0.75% of the loan amount, and the lender will add this cost to your monthly mortgage payment.

 Debt-to-income ratio (DTI): Your DTI ratio reflects how much of your monthly income goes toward debt payments. For FHA loans, the maximum back-end DTI ratio — which takes into account your housing and other monthly debt payments — is 43%.

 Purpose: Buyers can only use FHA loans to purchase owner-occupied primary residences; you cannot use an FHA loan to buy a second home or an investment property if you don’t intend to live there.

 Appraisal: The property must meet the U.S. Department of Housing and Urban Development (HUD) minimum property standards for durability and safety, and these standards may be more stringent than local building codes. To ensure the property meets HUD standards, it must undergo an appraisal and inspection. If the inspector identifies any issues, the seller typically needs to complete the necessary repairs prior to closing.

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Buying a multifamily property with an FHA loan

Although FHA loans are only for primary, owner-occupied homes, it’s possible to use an FHA loan to buy multifamily properties as long as you intend to live in one of the units. You can rent out one or more of the other units and still qualify for an FHA loan with a down payment as low as 3.5% of the home’s price.

If you want to buy a multifamily unit, you have to meet the borrower requirements for FHA loans, including the following criteria:

  • Down payment of at least 3.5%
  • Credit score of at least 500 if putting down 10%
  • DTI of 43% or lower
  • FHA mortgage insurance
  • Use of one unit as a primary residence
  • Appraisal and inspection

Multifamily units have higher loan limits than single-family units. In Missouri, the maximum FHA loan amounts range from $637,950 for a two-unit to $958,250 for a four-unit.

Number of unitsLow-cost FHA loan limit
Two$637,950
Three$771,125
Four$958,350

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

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