12/31/2019
FHA Loan Limits For St Louis MSA Increase to $331,760 January 1st 2020.
The maximum loan amount for an FHA-Insured home loan on January 1, 2020, will increase from $314.827 to $331,760 for a single-family home purchased in the St Louis metro area. FHA insured home loans have lower credit standards than a typical conventional loan, require a downpayment of just 3.5% and allow all of the purchasers closing costs to be paid by the seller (up to a limit) thereby extending the opportunity of homeownership to a wider audience.
Below are all of the FHA Mortgage Limits for the St Louis MSA for 2020:
One-Family dwellings – $331,760
Two-Family dwellings – $424,800
Three-Family dwellings – $513,450
Four-Family dwellings – $638,100
To find out more about FHA home loans, or to get pre-approved for an FHA home loan connect with Angie Pinckney