Today, we’ll reveal and explain the new 2024 FHA limits in Texas.
The Federal Housing Administration (FHA) establishes its own loan limits, which are separate from conforming loan limits.
In 2024, Texas got a nice boost to its FHA loan limits, with a new ceiling of $498,257 for one-family properties, $637,950 for two-family properties, $771,125 for three-family properties, and $958,350 for four-family properties.
However, some Texas counties go even higher due to higher home prices.
For example, Dallas FHA loan limits for 2024 are $563,500 for one-family, $721,400 for two-family, $872,000 for three-family, and $1,083,650 for four-family.
Table of Contents
2024 Texas FHA Loan Limits by County
| Texas County | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
|---|---|---|---|---|---|
| ANDERSON | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| ANDREWS | $498,257 | $637,950 | $771,125 | $958,350 | $379,000 |
| ANGELINA | $498,257 | $637,950 | $771,125 | $958,350 | $201,000 |
| ARANSAS | $498,257 | $637,950 | $771,125 | $958,350 | $298,000 |
| ARCHER | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| ARMSTRONG | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| ATASCOSA | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| AUSTIN | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| BAILEY | $498,257 | $637,950 | $771,125 | $958,350 | $139,000 |
| BANDERA | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| BASTROP | $571,550 | $731,700 | $884,450 | $1,099,150 | $482,000 |
| BAYLOR | $498,257 | $637,950 | $771,125 | $958,350 | $104,000 |
| BEE | $498,257 | $637,950 | $771,125 | $958,350 | $158,000 |
| BELL | $498,257 | $637,950 | $771,125 | $958,350 | $293,000 |
| BEXAR | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| BLANCO | $498,257 | $637,950 | $771,125 | $958,350 | $384,000 |
| BORDEN | $498,257 | $637,950 | $771,125 | $958,350 | $274,000 |
| BOSQUE | $498,257 | $637,950 | $771,125 | $958,350 | $185,000 |
| BOWIE | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| BRAZORIA | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| BRAZOS | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| BREWSTER | $498,257 | $637,950 | $771,125 | $958,350 | $261,000 |
| BRISCOE | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| BROOKS | $498,257 | $637,950 | $771,125 | $958,350 | $47,000 |
| BROWN | $498,257 | $637,950 | $771,125 | $958,350 | $167,000 |
| BURLESON | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| BURNET | $498,257 | $637,950 | $771,125 | $958,350 | $318,000 |
| CALDWELL | $571,550 | $731,700 | $884,450 | $1,099,150 | $482,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $165,000 |
| CALLAHAN | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| CAMERON | $498,257 | $637,950 | $771,125 | $958,350 | $210,000 |
| CAMP | $498,257 | $637,950 | $771,125 | $958,350 | $206,000 |
| CARSON | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| CASS | $498,257 | $637,950 | $771,125 | $958,350 | $156,000 |
| CASTRO | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| CHAMBERS | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| CHEROKEE | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| CHILDRESS | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| COCHRAN | $498,257 | $637,950 | $771,125 | $958,350 | $104,000 |
| COKE | $498,257 | $637,950 | $771,125 | $958,350 | $135,000 |
| COLEMAN | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| COLLIN | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| COLLINGSWORTH | $498,257 | $637,950 | $771,125 | $958,350 | $93,000 |
| COLORADO | $498,257 | $637,950 | $771,125 | $958,350 | $196,000 |
| COMAL | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| COMANCHE | $498,257 | $637,950 | $771,125 | $958,350 | $143,000 |
| CONCHO | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| COOKE | $498,257 | $637,950 | $771,125 | $958,350 | $264,000 |
| CORYELL | $498,257 | $637,950 | $771,125 | $958,350 | $293,000 |
| COTTLE | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| CRANE | $498,257 | $637,950 | $771,125 | $958,350 | $88,000 |
| CROCKETT | $498,257 | $637,950 | $771,125 | $958,350 | $141,000 |
| CROSBY | $498,257 | $637,950 | $771,125 | $958,350 | $232,000 |
| CULBERSON | $498,257 | $637,950 | $771,125 | $958,350 | $87,000 |
| DALLAM | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| DALLAS | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| DAWSON | $498,257 | $637,950 | $771,125 | $958,350 | $131,000 |
| DEAF SMITH | $498,257 | $637,950 | $771,125 | $958,350 | $136,000 |
| DELTA | $498,257 | $637,950 | $771,125 | $958,350 | $305,000 |
| DENTON | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| DEWITT | $498,257 | $637,950 | $771,125 | $958,350 | $173,000 |
| DICKENS | $498,257 | $637,950 | $771,125 | $958,350 | $89,000 |
| DIMMIT | $498,257 | $637,950 | $771,125 | $958,350 | $178,000 |
| DONLEY | $498,257 | $637,950 | $771,125 | $958,350 | $97,000 |
| DUVAL | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| EASTLAND | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| ECTOR | $498,257 | $637,950 | $771,125 | $958,350 | $248,000 |
| EDWARDS | $498,257 | $637,950 | $771,125 | $958,350 | $172,000 |
| EL PASO | $498,257 | $637,950 | $771,125 | $958,350 | $245,000 |
| ELLIS | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| ERATH | $498,257 | $637,950 | $771,125 | $958,350 | $215,000 |
| FALLS | $498,257 | $637,950 | $771,125 | $958,350 | $266,000 |
| FANNIN | $498,257 | $637,950 | $771,125 | $958,350 | $219,000 |
| FAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $297,000 |
| FISHER | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| FLOYD | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| FOARD | $498,257 | $637,950 | $771,125 | $958,350 | $32,000 |
| FORT BEND | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $189,000 |
| FREESTONE | $498,257 | $637,950 | $771,125 | $958,350 | $173,000 |
| FRIO | $498,257 | $637,950 | $771,125 | $958,350 | $177,000 |
| GAINES | $498,257 | $637,950 | $771,125 | $958,350 | $139,000 |
| GALVESTON | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| GARZA | $498,257 | $637,950 | $771,125 | $958,350 | $165,000 |
| GILLESPIE | $498,257 | $637,950 | $771,125 | $958,350 | $380,000 |
| GLASSCOCK | $498,257 | $637,950 | $771,125 | $958,350 | $375,000 |
| GOLIAD | $498,257 | $637,950 | $771,125 | $958,350 | $230,000 |
| GONZALES | $498,257 | $637,950 | $771,125 | $958,350 | $212,000 |
| GRAY | $498,257 | $637,950 | $771,125 | $958,350 | $124,000 |
| GRAYSON | $498,257 | $637,950 | $771,125 | $958,350 | $282,000 |
| GREGG | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| GRIMES | $498,257 | $637,950 | $771,125 | $958,350 | $242,000 |
| GUADALUPE | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| HALE | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| HALL | $498,257 | $637,950 | $771,125 | $958,350 | $74,000 |
| HAMILTON | $498,257 | $637,950 | $771,125 | $958,350 | $157,000 |
| HANSFORD | $498,257 | $637,950 | $771,125 | $958,350 | $153,000 |
| HARDEMAN | $498,257 | $637,950 | $771,125 | $958,350 | $68,000 |
| HARDIN | $498,257 | $637,950 | $771,125 | $958,350 | $221,000 |
| HARRIS | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| HARRISON | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| HARTLEY | $498,257 | $637,950 | $771,125 | $958,350 | $188,000 |
| HASKELL | $498,257 | $637,950 | $771,125 | $958,350 | $92,000 |
| HAYS | $571,550 | $731,700 | $884,450 | $1,099,150 | $482,000 |
| HEMPHILL | $498,257 | $637,950 | $771,125 | $958,350 | $158,000 |
| HENDERSON | $498,257 | $637,950 | $771,125 | $958,350 | $207,000 |
| HIDALGO | $498,257 | $637,950 | $771,125 | $958,350 | $194,000 |
| HILL | $498,257 | $637,950 | $771,125 | $958,350 | $204,000 |
| HOCKLEY | $498,257 | $637,950 | $771,125 | $958,350 | $176,000 |
| HOOD | $498,257 | $637,950 | $771,125 | $958,350 | $293,000 |
| HOPKINS | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| HOUSTON | $498,257 | $637,950 | $771,125 | $958,350 | $149,000 |
| HOWARD | $498,257 | $637,950 | $771,125 | $958,350 | $159,000 |
| HUDSPETH | $498,257 | $637,950 | $771,125 | $958,350 | $245,000 |
| HUNT | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| HUTCHINSON | $498,257 | $637,950 | $771,125 | $958,350 | $129,000 |
| IRION | $498,257 | $637,950 | $771,125 | $958,350 | $221,000 |
| JACK | $498,257 | $637,950 | $771,125 | $958,350 | $175,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| JASPER | $498,257 | $637,950 | $771,125 | $958,350 | $162,000 |
| JEFF DAVIS | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $221,000 |
| JIM HOGG | $498,257 | $637,950 | $771,125 | $958,350 | $143,000 |
| JIM WELLS | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| JOHNSON | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| JONES | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| KARNES | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| KAUFMAN | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| KENDALL | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| KENEDY | $498,257 | $637,950 | $771,125 | $958,350 | $164,000 |
| KENT | $498,257 | $637,950 | $771,125 | $958,350 | $163,000 |
| KERR | $498,257 | $637,950 | $771,125 | $958,350 | $298,000 |
| KIMBLE | $498,257 | $637,950 | $771,125 | $958,350 | $252,000 |
| KING | $498,257 | $637,950 | $771,125 | $958,350 | $34,000 |
| KINNEY | $498,257 | $637,950 | $771,125 | $958,350 | $302,000 |
| KLEBERG | $498,257 | $637,950 | $771,125 | $958,350 | $164,000 |
| KNOX | $498,257 | $637,950 | $771,125 | $958,350 | $70,000 |
| LA SALLE | $498,257 | $637,950 | $771,125 | $958,350 | $62,000 |
| LAMAR | $498,257 | $637,950 | $771,125 | $958,350 | $179,000 |
| LAMB | $498,257 | $637,950 | $771,125 | $958,350 | $143,000 |
| LAMPASAS | $498,257 | $637,950 | $771,125 | $958,350 | $293,000 |
| LAVACA | $498,257 | $637,950 | $771,125 | $958,350 | $180,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $247,000 |
| LEON | $498,257 | $637,950 | $771,125 | $958,350 | $179,000 |
| LIBERTY | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| LIMESTONE | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| LIPSCOMB | $498,257 | $637,950 | $771,125 | $958,350 | $123,000 |
| LIVE OAK | $498,257 | $637,950 | $771,125 | $958,350 | $161,000 |
| LLANO | $498,257 | $637,950 | $771,125 | $958,350 | $279,000 |
| LOVING | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| LUBBOCK | $498,257 | $637,950 | $771,125 | $958,350 | $232,000 |
| LYNN | $498,257 | $637,950 | $771,125 | $958,350 | $232,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $220,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $172,000 |
| MARTIN | $498,257 | $637,950 | $771,125 | $958,350 | $323,000 |
| MASON | $498,257 | $637,950 | $771,125 | $958,350 | $186,000 |
| MATAGORDA | $498,257 | $637,950 | $771,125 | $958,350 | $180,000 |
| MAVERICK | $498,257 | $637,950 | $771,125 | $958,350 | $206,000 |
| MCCULLOCH | $498,257 | $637,950 | $771,125 | $958,350 | $129,000 |
| MCLENNAN | $498,257 | $637,950 | $771,125 | $958,350 | $266,000 |
| MCMULLEN | $498,257 | $637,950 | $771,125 | $958,350 | $137,000 |
| MEDINA | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| MENARD | $498,257 | $637,950 | $771,125 | $958,350 | $158,000 |
| MIDLAND | $498,257 | $637,950 | $771,125 | $958,350 | $323,000 |
| MILAM | $498,257 | $637,950 | $771,125 | $958,350 | $188,000 |
| MILLS | $498,257 | $637,950 | $771,125 | $958,350 | $237,000 |
| MITCHELL | $498,257 | $637,950 | $771,125 | $958,350 | $86,000 |
| MONTAGUE | $498,257 | $637,950 | $771,125 | $958,350 | $182,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| MOORE | $498,257 | $637,950 | $771,125 | $958,350 | $159,000 |
| MORRIS | $498,257 | $637,950 | $771,125 | $958,350 | $137,000 |
| MOTLEY | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| NACOGDOCHES | $498,257 | $637,950 | $771,125 | $958,350 | $191,000 |
| NAVARRO | $498,257 | $637,950 | $771,125 | $958,350 | $182,000 |
| NEWTON | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| NOLAN | $498,257 | $637,950 | $771,125 | $958,350 | $145,000 |
| NUECES | $498,257 | $637,950 | $771,125 | $958,350 | $264,000 |
| OCHILTREE | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| OLDHAM | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| ORANGE | $498,257 | $637,950 | $771,125 | $958,350 | $221,000 |
| PALO PINTO | $498,257 | $637,950 | $771,125 | $958,350 | $219,000 |
| PANOLA | $498,257 | $637,950 | $771,125 | $958,350 | $181,000 |
| PARKER | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| PARMER | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| PECOS | $498,257 | $637,950 | $771,125 | $958,350 | $168,000 |
| POLK | $498,257 | $637,950 | $771,125 | $958,350 | $160,000 |
| POTTER | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| PRESIDIO | $498,257 | $637,950 | $771,125 | $958,350 | $233,000 |
| RAINS | $498,257 | $637,950 | $771,125 | $958,350 | $228,000 |
| RANDALL | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| REAGAN | $498,257 | $637,950 | $771,125 | $958,350 | $158,000 |
| REAL | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| RED RIVER | $498,257 | $637,950 | $771,125 | $958,350 | $79,000 |
| REEVES | $498,257 | $637,950 | $771,125 | $958,350 | $146,000 |
| REFUGIO | $498,257 | $637,950 | $771,125 | $958,350 | $136,000 |
| ROBERTS | $498,257 | $637,950 | $771,125 | $958,350 | $124,000 |
| ROBERTSON | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| ROCKWALL | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| RUNNELS | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| RUSK | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| SABINE | $498,257 | $637,950 | $771,125 | $958,350 | $147,000 |
| SAN AUGUSTINE | $498,257 | $637,950 | $771,125 | $958,350 | $101,000 |
| SAN JACINTO | $498,257 | $637,950 | $771,125 | $958,350 | $170,000 |
| SAN PATRICIO | $498,257 | $637,950 | $771,125 | $958,350 | $264,000 |
| SAN SABA | $498,257 | $637,950 | $771,125 | $958,350 | $77,000 |
| SCHLEICHER | $498,257 | $637,950 | $771,125 | $958,350 | $61,000 |
| SCURRY | $498,257 | $637,950 | $771,125 | $958,350 | $159,000 |
| SHACKELFORD | $498,257 | $637,950 | $771,125 | $958,350 | $306,000 |
| SHELBY | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| SHERMAN | $498,257 | $637,950 | $771,125 | $958,350 | $167,000 |
| SMITH | $498,257 | $637,950 | $771,125 | $958,350 | $281,000 |
| SOMERVELL | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| STARR | $498,257 | $637,950 | $771,125 | $958,350 | $104,000 |
| STEPHENS | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| STERLING | $498,257 | $637,950 | $771,125 | $958,350 | $221,000 |
| STONEWALL | $498,257 | $637,950 | $771,125 | $958,350 | $104,000 |
| SUTTON | $498,257 | $637,950 | $771,125 | $958,350 | $140,000 |
| SWISHER | $498,257 | $637,950 | $771,125 | $958,350 | $129,000 |
| TARRANT | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| TAYLOR | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| TERRELL | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| TERRY | $498,257 | $637,950 | $771,125 | $958,350 | $163,000 |
| THROCKMORTON | $498,257 | $637,950 | $771,125 | $958,350 | $55,000 |
| TITUS | $498,257 | $637,950 | $771,125 | $958,350 | $206,000 |
| TOM GREEN | $498,257 | $637,950 | $771,125 | $958,350 | $221,000 |
| TRAVIS | $571,550 | $731,700 | $884,450 | $1,099,150 | $482,000 |
| TRINITY | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| TYLER | $498,257 | $637,950 | $771,125 | $958,350 | $137,000 |
| UPSHUR | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| UPTON | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| UVALDE | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| VAL VERDE | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| VAN ZANDT | $498,257 | $637,950 | $771,125 | $958,350 | $222,000 |
| VICTORIA | $498,257 | $637,950 | $771,125 | $958,350 | $230,000 |
| WALKER | $498,257 | $637,950 | $771,125 | $958,350 | $240,000 |
| WALLER | $498,257 | $637,950 | $771,125 | $958,350 | $382,000 |
| WARD | $498,257 | $637,950 | $771,125 | $958,350 | $202,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $293,000 |
| WEBB | $498,257 | $637,950 | $771,125 | $958,350 | $231,000 |
| WHARTON | $498,257 | $637,950 | $771,125 | $958,350 | $204,000 |
| WHEELER | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| WICHITA | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| WILBARGER | $498,257 | $637,950 | $771,125 | $958,350 | $123,000 |
| WILLACY | $498,257 | $637,950 | $771,125 | $958,350 | $48,000 |
| WILLIAMSON | $571,550 | $731,700 | $884,450 | $1,099,150 | $482,000 |
| WILSON | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| WINKLER | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| WISE | $563,500 | $721,400 | $872,000 | $1,083,650 | $490,000 |
| WOOD | $498,257 | $637,950 | $771,125 | $958,350 | $216,000 |
| YOAKUM | $498,257 | $637,950 | $771,125 | $958,350 | $207,000 |
| YOUNG | $498,257 | $637,950 | $771,125 | $958,350 | $144,000 |
| ZAPATA | $498,257 | $637,950 | $771,125 | $958,350 | $57,000 |
| ZAVALA | $498,257 | $637,950 | $771,125 | $958,350 | $57,000 |
What Determines FHA Loan Limits?
FHA loan limits are established on a county-by-county basis and primarily depend on the median home prices from the preceding year.
The Federal Housing Finance Agency (FHFA) relies on housing price data to define the conforming loan limits applicable to conventional loans.
The U.S. Department of Housing and Urban Development (HUD) utilizes these limits to establish both a “floor” and a “ceiling” for FHA loans.
The “floor” represents the maximum loan amount available for FHA loans in most areas of the country.
It is determined by calculating 65% of the conforming loan limit.
Conversely, the “ceiling” pertains to high-cost regions and can reach up to 150% of the conforming loan limit.
In 2024, Texas has new FHA loan ceilings of $498,257 for one-family properties, $637,950 for two-family properties, $771,125 for three-family properties, and $958,350 for four-family properties.
Some high cost of living counties go even higher.
How Do I Qualify for an FHA Loan in Texas?
A loan backed by the Federal Housing Administraiton (FHA) gives Texas homebuyers a chance to buy a home with a lower credit score and a smaller down payment than under conventional loan requirements.
Here’s a general guide on how to qualify for a Texas FHA loan in 2024:
1. Credit Score Requirements
Minimum Credit Score: The minimum credit score typically required for an FHA loan is 580. This can qualify you for a loan with a down payment as low as 3.5%.
Lower Credit Scores: Applicants with credit scores between 500 and 579 may still be eligible but might need to put down at least 10%.
2. Down Payment
Standard Down Payment: As mentioned, a 3.5% down payment is standard with a credit score of 580 or higher.
Gift Funds: FHA loans allow down payments to be made using gift funds, subject to certain conditions and documentation requirements.
3. Debt-to-Income Ratio (DTI)
DTI Limits: Generally, your DTI should not exceed 43% to 45%. This ratio is a comparison of your gross monthly income to your monthly debt obligations.
Higher DTI Ratios: In some cases, lenders may accept higher DTI ratios if there are compensating factors, such as a higher credit score or larger down payment.
4. Mortgage Insurance
Upfront and Annual Premiums: FHA loans require both upfront and annual mortgage insurance premiums (MIP). The upfront MIP can be rolled into the mortgage, while the annual MIP is paid monthly as part of your mortgage payment.
5. Property Requirements
Primary Residence: The property must be your primary residence and not an investment property.
FHA Appraisal: An FHA-approved appraiser must appraise the property to ensure it meets specific safety, security, and structural integrity standards.
6. Employment History
Stable Employment: Lenders typically want to see a stable employment history, usually two years with the same employer or in the same line of work.
7. Income Verification
Proof of Income: You’ll need to provide proof of income through pay stubs, tax returns, and W-2s.
Consistent Income: The income should be consistent and expected to continue.
8. Loan Limits
Adherence to Loan Limits: Make sure the loan amount you’re seeking falls within the FHA loan limits for your area in Texas.
9. Additional Documentation
Identification: Valid government-issued ID.
Social Security Number: Required for all borrowers on the loan application.
Additional Documents: Depending on the lender, other documentation may be required.
10. Lender Specific Requirements
Lender Overlay: Some lenders have additional ‘overlays’ or requirements on top of what the FHA requires.
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About the Author
Brian Reese is a senior advisor and co-owner at District Lending. He is one of the world’s leading experts in veteran benefits, having helped millions of veterans secure their financial future since 2013. Brian is the founder VA Claims Insider, an education-based Coaching & Consulting company whose mission is to educate and empower veterans to get the VA disability benefits they’ve earned for their honorable service. A former active-duty air force officer, Brian deployed to Afghanistan in support of Operation Enduring Freedom. He is a distinguished graduate of management of the United States Air Force Academy and earned his MBA as a National Honor Scholar from the Spears School of Business at Oklahoma State University.
“As a military veteran, I’ve made it my life’s mission to help people live happier and wealthier lives. District Lending brings this mission to life. We believe in integrity, honesty, and transparency, which is why you’ll see our rates right on our website. You’ll find lower rates and zero lending fees, which means you can buy your dream home for less. The savings are passed on to you — the way it should be.”
– Brian Reese, Advisor and Co-Owner, District Lending
