Home LoansFHA Loans

2021 FHA Loan Limits in Iowa

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

For the 2021 calendar year, the FHA limit for single-family homes in Iowa is $356,362 statewide, no matter the county you’re buying property in. So whether you make your home in Des Moines, Council Bluffs or one of Iowa’s Quad Cities, your limit will be the same.

Dreaming about buying a house in Iowa? This may be the perfect time to make the leap. And thanks to the Federal Housing Administration (FHA), some Iowans can qualify for federally backed loans to help get them into a new house.

Lowa FHA loan limits by county

FHA Loan Limits in Lowa
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Adair $356,362 $456,275 $551,500 $685,400 $79,000
Adams $356,362 $456,275 $551,500 $685,400 $55,000
Appanoose $356,362 $456,275 $551,500 $685,400 $67,000
Benton $356,362 $456,275 $551,500 $685,400 $165,000
Boone $356,362 $456,275 $551,500 $685,400 $206,000
Bremer $356,362 $456,275 $551,500 $685,400 $148,000
Buchanan $356,362 $456,275 $551,500 $685,400 $118,000
Butler $356,362 $456,275 $551,500 $685,400 $88,000
Calhoun $356,362 $456,275 $551,500 $685,400 $50,000
Carroll $356,362 $456,275 $551,500 $685,400 $120,000
Cherokee $356,362 $456,275 $551,500 $685,400 $80,000
Chickasaw $356,362 $456,275 $551,500 $685,400 $92,000
Clarke $356,362 $456,275 $551,500 $685,400 $80,000
Clay $356,362 $456,275 $551,500 $685,400 $120,000
Clayton $356,362 $456,275 $551,500 $685,400 $98,000
Dallas $356,362 $456,275 $551,500 $685,400 $249,000
Davis $356,362 $456,275 $551,500 $685,400 $145,000
Delaware $356,362 $456,275 $551,500 $685,400 $118,000
Dickinson $356,362 $456,275 $551,500 $685,400 $190,000
Dubuque $356,362 $456,275 $551,500 $685,400 $165,000
Fayette $356,362 $456,275 $551,500 $685,400 $68,000
Floyd $356,362 $456,275 $551,500 $685,400 $72,000
Franklin $356,362 $456,275 $551,500 $685,400 $66,000
Greene $356,362 $456,275 $551,500 $685,400 $60,000
Hancock $356,362 $456,275 $551,500 $685,400 $81,000
Henry $356,362 $456,275 $551,500 $685,400 $112,000
Howard $356,362 $456,275 $551,500 $685,400 $81,000
Humboldt $356,362 $456,275 $551,500 $685,400 $98,000
Jackson $356,362 $456,275 $551,500 $685,400 $110,000
Jasper $356,362 $456,275 $551,500 $685,400 $249,000
Johnson $356,362 $456,275 $551,500 $685,400 $259,000
Lee $356,362 $456,275 $551,500 $685,400 $86,000
Lucas $356,362 $456,275 $551,500 $685,400 $70,000
Madison $356,362 $456,275 $551,500 $685,400 $249,000
Marion $356,362 $456,275 $551,500 $685,400 $137,000
Mills $356,362 $456,275 $551,500 $685,400 $226,000
Monroe $356,362 $456,275 $551,500 $685,400 $72,000
Osceola $356,362 $456,275 $551,500 $685,400 $78,000
Plymouth $356,362 $456,275 $551,500 $685,400 $145,000
Polk $356,362 $456,275 $551,500 $685,400 $249,000
Poweshiek $356,362 $456,275 $551,500 $685,400 $130,000
Sac $356,362 $456,275 $551,500 $685,400 $75,000
Taylor $356,362 $456,275 $551,500 $685,400 $55,000
Union $356,362 $456,275 $551,500 $685,400 $61,000
Warren $356,362 $456,275 $551,500 $685,400 $249,000
Winnebago $356,362 $456,275 $551,500 $685,400 $85,000
Winneshiek $356,362 $456,275 $551,500 $685,400 $159,000
Woodbury $356,362 $456,275 $551,500 $685,400 $216,000
Worth $356,362 $456,275 $551,500 $685,400 $118,000
Wright $356,362 $456,275 $551,500 $685,400 $60,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in Iowa?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

Compare FHA Loans for Free