FHA Loan Limits in Ohio
If you’re interested in a mortgage backed by the Federal Housing Administration (FHA), keep in mind that the FHA loan limit in most Ohio counties is $472,030 for single-family dwellings. However, the limit is slightly higher at $488,750 in the Columbus-area counties of Delaware, Fairfield, Franklin, Hocking, Licking, Madison, Perry, Pickaway and Union. If you’re in the market for a multifamily property, the maximum you’re allowed to borrow is $939,900.
Ohio FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sale price |
|---|---|---|---|---|---|
| ADAMS | $472,030 | $604,400 | $730,525 | $907,900 | $65,000 |
| ALLEN | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| ASHLAND | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| ASHTABULA | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| ATHENS | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| AUGLAIZE | $472,030 | $604,400 | $730,525 | $907,900 | $161,000 |
| BELMONT | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| BROWN | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| BUTLER | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| CARROLL | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| CHAMPAIGN | $472,030 | $604,400 | $730,525 | $907,900 | $160,000 |
| CLARK | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| CLERMONT | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| CLINTON | $472,030 | $604,400 | $730,525 | $907,900 | $155,000 |
| COLUMBIANA | $472,030 | $604,400 | $730,525 | $907,900 | $106,000 |
| COSHOCTON | $472,030 | $604,400 | $730,525 | $907,900 | $102,000 |
| CRAWFORD | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| CUYAHOGA | $472,030 | $604,400 | $730,525 | $907,900 | $290,000 |
| DARKE | $472,030 | $604,400 | $730,525 | $907,900 | $146,000 |
| DEFIANCE | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| DELAWARE | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| ERIE | $472,030 | $604,400 | $730,525 | $907,900 | $127,000 |
| FAIRFIELD | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| FAYETTE | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| FRANKLIN | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| FULTON | $472,030 | $604,400 | $730,525 | $907,900 | $210,000 |
| GALLIA | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| GEAUGA | $472,030 | $604,400 | $730,525 | $907,900 | $290,000 |
| GREENE | $472,030 | $604,400 | $730,525 | $907,900 | $220,000 |
| GUERNSEY | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| HAMILTON | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| HANCOCK | $472,030 | $604,400 | $730,525 | $907,900 | $175,000 |
| HARDIN | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| HARRISON | $472,030 | $604,400 | $730,525 | $907,900 | $85,000 |
| HENRY | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| HIGHLAND | $472,030 | $604,400 | $730,525 | $907,900 | $118,000 |
| HOCKING | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| HOLMES | $472,030 | $604,400 | $730,525 | $907,900 | $180,000 |
| HURON | $472,030 | $604,400 | $730,525 | $907,900 | $119,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $131,000 |
| KNOX | $472,030 | $604,400 | $730,525 | $907,900 | $185,000 |
| LAKE | $472,030 | $604,400 | $730,525 | $907,900 | $290,000 |
| LAWRENCE | $472,030 | $604,400 | $730,525 | $907,900 | $186,000 |
| LICKING | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| LOGAN | $472,030 | $604,400 | $730,525 | $907,900 | $131,000 |
| LORAIN | $472,030 | $604,400 | $730,525 | $907,900 | $290,000 |
| LUCAS | $472,030 | $604,400 | $730,525 | $907,900 | $210,000 |
| MADISON | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| MAHONING | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| MARION | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| MEDINA | $472,030 | $604,400 | $730,525 | $907,900 | $290,000 |
| MEIGS | $472,030 | $604,400 | $730,525 | $907,900 | $67,000 |
| MERCER | $472,030 | $604,400 | $730,525 | $907,900 | $170,000 |
| MIAMI | $472,030 | $604,400 | $730,525 | $907,900 | $220,000 |
| MONROE | $472,030 | $604,400 | $730,525 | $907,900 | $87,000 |
| MONTGOMERY | $472,030 | $604,400 | $730,525 | $907,900 | $220,000 |
| MORGAN | $472,030 | $604,400 | $730,525 | $907,900 | $87,000 |
| MORROW | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| MUSKINGUM | $472,030 | $604,400 | $730,525 | $907,900 | $133,000 |
| NOBLE | $472,030 | $604,400 | $730,525 | $907,900 | $86,000 |
| OTTAWA | $472,030 | $604,400 | $730,525 | $907,900 | $210,000 |
| PAULDING | $472,030 | $604,400 | $730,525 | $907,900 | $93,000 |
| PERRY | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| PICKAWAY | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| PIKE | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| PORTAGE | $472,030 | $604,400 | $730,525 | $907,900 | $189,000 |
| PREBLE | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| PUTNAM | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| RICHLAND | $472,030 | $604,400 | $730,525 | $907,900 | $127,000 |
| ROSS | $472,030 | $604,400 | $730,525 | $907,900 | $140,000 |
| SANDUSKY | $472,030 | $604,400 | $730,525 | $907,900 | $113,000 |
| SCIOTO | $472,030 | $604,400 | $730,525 | $907,900 | $88,000 |
| SENECA | $472,030 | $604,400 | $730,525 | $907,900 | $114,000 |
| SHELBY | $472,030 | $604,400 | $730,525 | $907,900 | $155,000 |
| STARK | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| SUMMIT | $472,030 | $604,400 | $730,525 | $907,900 | $189,000 |
| TRUMBULL | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| TUSCARAWAS | $472,030 | $604,400 | $730,525 | $907,900 | $147,000 |
| UNION | $488,750 | $625,700 | $756,300 | $939,900 | $425,000 |
| VAN WERT | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| VINTON | $472,030 | $604,400 | $730,525 | $907,900 | $34,000 |
| WARREN | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $142,000 |
| WAYNE | $472,030 | $604,400 | $730,525 | $907,900 | $195,000 |
| WILLIAMS | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| WOOD | $472,030 | $604,400 | $730,525 | $907,900 | $210,000 |
| WYANDOT | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
How are FHA loan limits determined?
Every year FHA loan limits are determined by looking at the median home sales price from the year before, along with the conforming loan limits established by the Federal Housing Finance Agency (FHFA).
The U.S. Department of Housing and Urban Development (HUD) uses the conforming loan limits to determine lending limits for FHA loans in every county in the country.
The lowest limit nationally is called the “floor” and is set at 65% of the conforming loan limit. The floor is $472,030. The highest limit nationally — known as the “ceiling” — is 150% of the conforming loan limit and only applies to higher-cost areas. The ceiling is $1,089,300.
Keep in mind that a single-family home will have a lower lending limit than a multifamily home.
How to qualify for an FHA loan in Ohio
To qualify for an FHA loan in Ohio, you’ll need to meet the minimum FHA loan requirements:
A minimum 500 credit score. If you have a credit score between 500 and 579, you may qualify for an FHA loan but will need to put down at least 10%.
3.5% minimum down payment. You may be eligible for a down payment of 3.5% if you have a credit score of 580 or higher. Otherwise, you’ll need to make that 10% down payment.
Debt-to-income (DTI) ratio of 43% or less. A DTI ratio is the amount of money you spend on debt payments compared to your total monthly income. Your DTI ratio will likely need to be 43% (or less) of your gross income to qualify.
An FHA home appraisal. The property you’re looking to purchase must have an FHA appraisal before it can be approved.
Mortgage insurance. You’ll be required to pay two types of FHA mortgage insurance. You’ll put down a lump sum, known as an upfront mortgage insurance premium (UFMIP), which is 1.75% of the loan amount. Then, an annual mortgage insurance premium (MIP), which can be anywhere from 0.15% to 0.75%, will be added to your monthly mortgage payments.
Primary residence. You must live in this property as your main residence for at least one year.
Buying a multifamily property with an FHA loan
As long as you’re planning on living in one of the units yourself, you can use an FHA loan to purchase a multifamily home with up to four units. All the credit and DTI ratio requirements are the same, although you’ll be able to use anticipated rent payments from the new property as income on your application.
FHA lenders in Ohio
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Rocket Mortgage | 5 stars | 580 |
| PennyMac Mortgage | 5 stars | 580 |
| AmeriSave | 3.5 stars | 600 |
| Flagstar Bank | 5 stars | 580 |