2024 FHA Loan Limits in Mississippi
If you want to buy a home in Mississippi, the Federal Housing Administration (FHA) might be able to help. FHA-backed mortgages can be a lifeline for buyers who don’t qualify for other mortgages, since these loans don’t require good credit. In fact, you can qualify with scores as low as 500 and a down payment as low as 3.5% with an FHA loan. The FHA loan limit for a single-family home in Mississippi is $498,257, which could make your down payment as low as $17,439.
Mississippi FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ADAMS | $498,257 | $637,950 | $771,125 | $958,350 | $122,000 |
| ALCORN | $498,257 | $637,950 | $771,125 | $958,350 | $241,000 |
| AMITE | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| ATTALA | $498,257 | $637,950 | $771,125 | $958,350 | $117,000 |
| BENTON | $498,257 | $637,950 | $771,125 | $958,350 | $109,000 |
| BOLIVAR | $498,257 | $637,950 | $771,125 | $958,350 | $135,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| CARROLL | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| CHICKASAW | $498,257 | $637,950 | $771,125 | $958,350 | $98,000 |
| CHOCTAW | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| CLAIBORNE | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| CLARKE | $498,257 | $637,950 | $771,125 | $958,350 | $281,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| COAHOMA | $498,257 | $637,950 | $771,125 | $958,350 | $99,000 |
| COPIAH | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| COVINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $258,000 |
| DESOTO | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| FORREST | $498,257 | $637,950 | $771,125 | $958,350 | $258,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $112,000 |
| GEORGE | $498,257 | $637,950 | $771,125 | $958,350 | $178,000 |
| GREENE | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| GRENADA | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| HANCOCK | $498,257 | $637,950 | $771,125 | $958,350 | $230,000 |
| HARRISON | $498,257 | $637,950 | $771,125 | $958,350 | $230,000 |
| HINDS | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| HOLMES | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| HUMPHREYS | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| ISSAQUENA | $498,257 | $637,950 | $771,125 | $958,350 | $133,000 |
| ITAWAMBA | $498,257 | $637,950 | $771,125 | $958,350 | $216,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $230,000 |
| JASPER | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $112,000 |
| JEFFERSON DAVIS | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| JONES | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| KEMPER | $498,257 | $637,950 | $771,125 | $958,350 | $281,000 |
| LAFAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $332,000 |
| LAMAR | $498,257 | $637,950 | $771,125 | $958,350 | $258,000 |
| LAUDERDALE | $498,257 | $637,950 | $771,125 | $958,350 | $281,000 |
| LAWRENCE | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| LEAKE | $498,257 | $637,950 | $771,125 | $958,350 | $180,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $216,000 |
| LEFLORE | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $177,000 |
| LOWNDES | $498,257 | $637,950 | $771,125 | $958,350 | $203,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $124,000 |
| MARSHALL | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $134,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $119,000 |
| NESHOBA | $498,257 | $637,950 | $771,125 | $958,350 | $114,000 |
| NEWTON | $498,257 | $637,950 | $771,125 | $958,350 | $114,000 |
| NOXUBEE | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| OKTIBBEHA | $498,257 | $637,950 | $771,125 | $958,350 | $296,000 |
| PANOLA | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| PEARL RIVER | $498,257 | $637,950 | $771,125 | $958,350 | $199,000 |
| PERRY | $498,257 | $637,950 | $771,125 | $958,350 | $258,000 |
| PIKE | $498,257 | $637,950 | $771,125 | $958,350 | $151,000 |
| PONTOTOC | $498,257 | $637,950 | $771,125 | $958,350 | $216,000 |
| PRENTISS | $498,257 | $637,950 | $771,125 | $958,350 | $216,000 |
| QUITMAN | $498,257 | $637,950 | $771,125 | $958,350 | $74,000 |
| RANKIN | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| SCOTT | $498,257 | $637,950 | $771,125 | $958,350 | $142,000 |
| SHARKEY | $498,257 | $637,950 | $771,125 | $958,350 | $97,000 |
| SIMPSON | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| SMITH | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| STONE | $498,257 | $637,950 | $771,125 | $958,350 | $230,000 |
| SUNFLOWER | $498,257 | $637,950 | $771,125 | $958,350 | $123,000 |
| TALLAHATCHIE | $498,257 | $637,950 | $771,125 | $958,350 | $92,000 |
| TATE | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| TIPPAH | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| TISHOMINGO | $498,257 | $637,950 | $771,125 | $958,350 | $139,000 |
| TUNICA | $498,257 | $637,950 | $771,125 | $958,350 | $328,000 |
| UNION | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| WALTHALL | $498,257 | $637,950 | $771,125 | $958,350 | $168,000 |
| WARREN | $498,257 | $637,950 | $771,125 | $958,350 | $177,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $106,000 |
| WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| WEBSTER | $498,257 | $637,950 | $771,125 | $958,350 | $296,000 |
| WILKINSON | $498,257 | $637,950 | $771,125 | $958,350 | $91,000 |
| WINSTON | $498,257 | $637,950 | $771,125 | $958,350 | $134,000 |
| YALOBUSHA | $498,257 | $637,950 | $771,125 | $958,350 | $111,000 |
| YAZOO | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
How are FHA loan limits determined?
FHA loan limits are adjusted yearly based on home sale prices in each individual county and metro area. In 2024, the FHA loan limits for single-family homes in every single county and MSA in Mississippi increased by $26,227.
In addition to local sale prices, the FHA uses national conforming loan limit data from the Federal Housing Finance Agency (FHFA) to set its minimum and maximum loan limits. These amounts are known, respectively, as the floor and ceiling loan limits. As a rule, the floor for FHA loans is equal to 65% of the national conforming loan limit, and the ceiling is 150%.
While the ceiling on the FHA’s single-family loans for 2024 is $1,149,825, the maximum amount available in Mississippi — regardless of which part of the state — is $498,257.
How to qualify for an FHA loan in Mississippi
FHA-backed loans are available through private mortgage lenders, including banks and credit unions. To qualify, you’ll need to meet both the FHA’s requirements and the lender’s requirements.
While some details vary by lender, including the closing costs on the loan, there are other FHA loan requirements that stay the same no matter where you buy, including:
→ Credit scores. Your credit score must be 500 or higher.
→ Down payment. Depending on your credit scores, your minimum down payment will be either 3.5% (for scores 580 and up) or 10% (for scores between 500 and 579).
→ Debt-to-income ratio (DTI). Your minimum monthly debt payments can’t add up to more than 43% of your gross monthly income.
→ Federal debt. You have no outstanding federal liens or overdue federal debt.
→ Mortgage insurance. Borrowers also have to pay an upfront FHA mortgage insurance premium equal to 1.75% of the loan amount, due when you close on the loan. For a $498,257 loan, that amounts to a one-time fee of $8,719. In addition to that, you’ll also have to pay a monthly mortgage insurance premium that ranges between 0.15% to 0.75% of the loan amount.
Buying a multifamily property with an FHA loan
FHA loans can be used for a variety of purchase types, including for building, rehabilitating or buying a multifamily home with up to four units. Depending on the number of units, you can potentially borrow close to $960,000 for your purchase.
The majority of the FHA’s single-family qualifications also apply to those seeking multifamily housing, including just 3.5% down for credit scores of 580 or higher. One thing to keep in mind: You can rent out the other units in the home, and even use projected rental income to help you qualify, but you must live in one of the units for at least one year.
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Mississippi
Lender | LendingTree rating | Min. FHA credit score | |
|---|---|---|---|
 | 580 | ||
 | Not disclosed | ||
 | 580 | ||
 | 580 | ||
 | 580 |
