2017 Mississippi FHA County Loan Limits

Considering buying a house in Mississippi? Take a look at a FHA Mortgage loan

Young family with a child

What exactly is the FHA?
The Federal Housing Administration  (FHA) was founded during the Great Depression to boost the housing market. The FHA remains commited to assist home buyers who do not satisfy standard financing requirements, like having a credit history or perhaps proof of income.

Is there an income limit with FHA mortgages?
No!

Do I need to be a first time buyer?
No, although many first time homebuyers choose the FHA program because of the low downpayment (3 1/2%) as well as the seller paid settlement costs.

Do I qualify for an FHA home mortgage loan?
If you have a history of paying your bills on time and you do not have an FHA loan, there is a good possibility you will qualify for an FHA loan. Only an approved FHA lender can assess whether or not you meet the requirements for an FHA home loan.

Do I need a lot of money to purchase a house with an FHA mortgage?
No. The FHA down payment requirement is just 3.5%. For illustration, purchase price = $200,000 X 3.5% = $7,000

Can my down payment come from grants?
Yes! You can pay 100% of your down payment with grants from friends, relatives, or endorsed organizations .

Is the seller allowed to pay my closing charges?
Yes! The FHA allows the seller to pay up to 6% of the purchase price toward the settlement costs.

Does the FHA originate the mortgage loan?
No. The FHA insures the loan. The Federal Housing Administration levies insurance on the mortgage. If a borrower defaults on a mortgage the FHA uses the money from these insurance premiums to compensate the lender. This really is how the FHA encourages lenders to give mortgages to otherwise higher-risk applicants.

Is applying for an FHA mortgage hard?
In most cases, it’s certainly not as tough as obtaining the typical conventional mortgage.

Just what types of home mortgage loans are offered with the FHA?
There are a Fixed Interest rate Mortgage, Adjustable Rate Loans, and Hybrid Mortgages

I want to refinance. Can the FHA help me?
Yes! The FHA offers a streamline refinance mortgage program for homeowners who currently have a FHA loan and would like to refinance to lower monthly payment. In {some cases home owners can do this with no up front costs.  You might also get a cash-out mortgage refinance whether the mortgage you're refinancing is an FHA loan. With a cash out refinance, you can get as much as 85% of the value of the house.

Is there a maximum purchase price?
No, but there is a maximum loan amount based on the Mississippi county - see below:

2017 FHA County Loan Limits for Mississippi

One-Family is a single family home or condominium
Two-Family is two separate living units (duplex)
Three-Family three separate living units (triplex)
Four-Family  four separate living units (fourplex)


MSA Name One-Family Two-Family Three-Family Four-Family
ADAMS NATCHEZ, MS-LA 275,665 352,950 426,625 530,150
ALCORN CORINTH, MS 275,665 352,950 426,625 530,150
AMITE MCCOMB, MS 275,665 352,950 426,625 530,150
ATTALA NON-METRO 275,665 352,950 426,625 530,150
BENTON MEMPHIS, TN-MS-AR 275,665 352,950 426,625 530,150
BOLIVAR CLEVELAND, MS 275,665 352,950 426,625 530,150
CALHOUN NON-METRO 275,665 352,950 426,625 530,150
CARROLL GREENWOOD, MS 275,665 352,950 426,625 530,150
CHICKASAW NON-METRO 275,665 352,950 426,625 530,150
CHOCTAW NON-METRO 275,665 352,950 426,625 530,150
CLAIBORNE VICKSBURG, MS 275,665 352,950 426,625 530,150
CLARKE MERIDIAN, MS 275,665 352,950 426,625 530,150
CLAY NON-METRO 275,665 352,950 426,625 530,150
COAHOMA CLARKSDALE, MS 275,665 352,950 426,625 530,150
COPIAH JACKSON, MS 281,750 360,700 436,000 541,800
COVINGTON NON-METRO 275,665 352,950 426,625 530,150
DESOTO MEMPHIS, TN-MS-AR 275,665 352,950 426,625 530,150
FORREST HATTIESBURG, MS 275,665 352,950 426,625 530,150
FRANKLIN NON-METRO 275,665 352,950 426,625 530,150
GEORGE NON-METRO 275,665 352,950 426,625 530,150
GREENE NON-METRO 275,665 352,950 426,625 530,150
GRENADA GRENADA, MS 275,665 352,950 426,625 530,150
HANCOCK GULFPORT-BILOXI-PASCAGOULA, MS 275,665 352,950 426,625 530,150
HARRISON GULFPORT-BILOXI-PASCAGOULA, MS 275,665 352,950 426,625 530,150
HINDS JACKSON, MS 281,750 360,700 436,000 541,800
HOLMES NON-METRO 275,665 352,950 426,625 530,150
HUMPHREYS NON-METRO 275,665 352,950 426,625 530,150
ISSAQUENA NON-METRO 275,665 352,950 426,625 530,150
ITAWAMBA TUPELO, MS 275,665 352,950 426,625 530,150
JACKSON GULFPORT-BILOXI-PASCAGOULA, MS 275,665 352,950 426,625 530,150
JASPER LAUREL, MS 275,665 352,950 426,625 530,150
JEFFERSON NON-METRO 275,665 352,950 426,625 530,150
JEFFERSON DAVIS NON-METRO 275,665 352,950 426,625 530,150
JONES LAUREL, MS 275,665 352,950 426,625 530,150
KEMPER MERIDIAN, MS 275,665 352,950 426,625 530,150
LAFAYETTE OXFORD, MS 275,665 352,950 426,625 530,150
LAMAR HATTIESBURG, MS 275,665 352,950 426,625 530,150
LAUDERDALE MERIDIAN, MS 275,665 352,950 426,625 530,150
LAWRENCE NON-METRO 275,665 352,950 426,625 530,150
LEAKE NON-METRO 275,665 352,950 426,625 530,150
LEE TUPELO, MS 275,665 352,950 426,625 530,150
LEFLORE GREENWOOD, MS 275,665 352,950 426,625 530,150
LINCOLN BROOKHAVEN, MS 275,665 352,950 426,625 530,150
LOWNDES COLUMBUS, MS 275,665 352,950 426,625 530,150
MADISON JACKSON, MS 281,750 360,700 436,000 541,800
MARION NON-METRO 275,665 352,950 426,625 530,150
MARSHALL MEMPHIS, TN-MS-AR 275,665 352,950 426,625 530,150
MONROE NON-METRO 275,665 352,950 426,625 530,150
MONTGOMERY NON-METRO 275,665 352,950 426,625 530,150
NESHOBA NON-METRO 275,665 352,950 426,625 530,150
NEWTON NON-METRO 275,665 352,950 426,625 530,150
NOXUBEE NON-METRO 275,665 352,950 426,625 530,150
OKTIBBEHA STARKVILLE, MS 275,665 352,950 426,625 530,150
PANOLA NON-METRO 275,665 352,950 426,625 530,150
PEARL RIVER PICAYUNE, MS 275,665 352,950 426,625 530,150
PERRY HATTIESBURG, MS 275,665 352,950 426,625 530,150
PIKE MCCOMB, MS 275,665 352,950 426,625 530,150
PONTOTOC TUPELO, MS 275,665 352,950 426,625 530,150
PRENTISS NON-METRO 275,665 352,950 426,625 530,150
QUITMAN NON-METRO 275,665 352,950 426,625 530,150
RANKIN JACKSON, MS 281,750 360,700 436,000 541,800
SCOTT NON-METRO 275,665 352,950 426,625 530,150
SHARKEY NON-METRO 275,665 352,950 426,625 530,150
SIMPSON JACKSON, MS 281,750 360,700 436,000 541,800
SMITH NON-METRO 275,665 352,950 426,625 530,150
STONE NON-METRO 275,665 352,950 426,625 530,150
SUNFLOWER INDIANOLA, MS 275,665 352,950 426,625 530,150
TALLAHATCHIE NON-METRO 275,665 352,950 426,625 530,150
TATE MEMPHIS, TN-MS-AR 275,665 352,950 426,625 530,150
TIPPAH NON-METRO 275,665 352,950 426,625 530,150
TISHOMINGO NON-METRO 275,665 352,950 426,625 530,150
TUNICA MEMPHIS, TN-MS-AR 275,665 352,950 426,625 530,150
UNION NON-METRO 275,665 352,950 426,625 530,150
WALTHALL NON-METRO 275,665 352,950 426,625 530,150
WARREN VICKSBURG, MS 275,665 352,950 426,625 530,150
WASHINGTON GREENVILLE, MS 275,665 352,950 426,625 530,150
WAYNE NON-METRO 275,665 352,950 426,625 530,150
WEBSTER NON-METRO 275,665 352,950 426,625 530,150
WILKINSON NON-METRO 275,665 352,950 426,625 530,150
WINSTON NON-METRO 275,665 352,950 426,625 530,150
YALOBUSHA NON-METRO 275,665 352,950 426,625 530,150
YAZOO JACKSON, MS 281,750 360,700 436,000 541,800