Mississippi FHA Loans at a Glance: just 3.5% down · FICO from 580 · statewide limit $541,287 · pairs with MHC MRB7 $7,000 forgivable DPA · NMLS #1826020
Mississippi FHA Home Loans · Direct Lender Since 1998

FHA Loans Mississippi

Buy a Mississippi home with as little as 3.5% down and a credit score from 580. From the Gulf Coast to Oxford and the Memphis suburbs of DeSoto County, FHA is universally usable in one of the nation’s most affordable states – and it pairs with the Mississippi Home Corporation’s $7,000 forgivable down-payment loan.

  • 3.5% down with a 580+ FICO (10% down from 500-579)
  • Pair MHC MRB7 – a flat $7,000, forgivable over 10 years
  • Uniform statewide FHA limit of $541,287 (one-unit)
  • Even fast-growing DeSoto and Madison counties fit under the floor
  • Gift funds welcome; seller can pay up to 6% of closing costs

Start My Mississippi FHA Application →

Get Pre-Approved for a Mississippi FHA Loan

Fast, friendly, no obligation.

Get Your Free Quote! No Credit Pull Required.

★ 3.5% down★ 580 credit OK★ MHC MRB7 DPA★ Most affordable★ First-time friendly★ Serving MS since 1998

Why an FHA loan works in Mississippi

An FHA loan is a government-insured mortgage that helps Mississippi buyers qualify with flexible credit, a low down payment and higher debt-to-income than conventional financing. In one of America’s most affordable states, 3.5% down covers nearly the whole market.

Mississippi pairs low prices with strong suburban growth around Jackson, the Gulf Coast and the Memphis line. Whether you are buying your first home in Southaven or a place near Madison’s top schools, an FHA loan stacked with MHC help gets you to closing with little cash down. Start your application →

2026 Mississippi FHA loan limits by county

FHA loan limits are set by county, but in 2026 every Mississippi county – even the fastest-growing ones – uses the same one-unit floor:

All Mississippi counties (1-unit)$541,287 – statewide, including DeSoto (Memphis suburbs), Madison and Rankin (Jackson metro), Harrison and Jackson (Gulf Coast) and Lafayette (Oxford)
2-unit properties$693,050
3-unit properties$837,700
4-unit properties$1,041,125

2026 one-unit FHA limits set annually by HUD; 2-4 unit limits are higher. We confirm the exact limit for your Mississippi county before you write an offer.

Ready to see how much home you can buy in Mississippi with 3.5% down? Get pre-approved today.
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Mississippi FHA loan requirements at a glance (2026)

How little you can put down3.5% with a 580 score – or 10% if your score is between 500 and 579
Score you need580 to start; we also coach borrowers who are rebuilding their credit
What MIP costs1.75% upfront (financed) and an annual premium near 0.15%-0.55% paid monthly
Debt-to-income roomOften 43%-50% with strong compensating factors and automated underwriting
Funding your down paymentPersonal savings, gift funds from relatives, or approved assistance programs
Seller-paid costsUp to 6% of the price can be contributed by the seller toward closing
Homes you can buySingle-family Mississippi homes, approved condos and townhomes, and owner-occupied 2-4 units
Occupancy ruleFHA is for the home you will live in as your primary residence
Qualifying with helpNon-occupant co-borrowers are welcome to strengthen your application

Mississippi down payment assistance you can pair with FHA

Your FHA loan pairs with the Mississippi Home Corporation (MHC), whose programs make a low-cash purchase easy:

MRB7

A flat $7,000 interest-free second for down payment and closing costs, forgiven if you occupy the home for 10 years (repaid if you sell or refinance sooner).

Smart Solution

A 30-year fixed FHA first mortgage with optional down-payment help – typically up to about 3% of the loan amount.

Who qualifies

First-time buyers, veterans or targeted-area buyers, within income limits and with a homebuyer education class.

MHC first mortgage

MHC’s FHA product anchors the assistance – we set up the combination that fits.

Gift funds & seller credits

Combine gift funds and up to 6% in seller credits with FHA and MHC help to minimize cash to close.

Coastal insurance planning

On the Gulf Coast, we factor wind and flood insurance into your pre-approval so your payment is realistic.

Ask about MHC MRB7 – a flat $7,000 forgivable for Mississippi buyers.
See If You Qualify

Assistance programs have income, price and funding limits, are first-come while funds last, and are subject to change and eligibility. We confirm what you qualify for.

First-time buyer, family, or 55+ mover – we have a Mississippi FHA program for you.
Start My Application

Calculate your Mississippi FHA loan

Use these quick Mississippi FHA estimators to size up your payment and buying power, then apply for exact, personalized figures.

1. FHA monthly payment

Estimate your full monthly payment including FHA mortgage insurance.

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Total monthly payment
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Principal, interest & MIP

2. Down payment & cash to close

See your down payment and estimated cash after seller credits.

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Estimated cash to close
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Down payment amount

3. How much home can I afford?

Estimate your FHA price range from income and monthly debts.

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Estimated home price
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Max housing payment

4. FHA loan amount + MIP

See your base loan plus the 1.75% upfront MIP financed in.

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Total financed (with UFMIP)
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Base loan / 1.75% UFMIP

Estimates only and not a commitment to lend. FHA charges 1.75% upfront MIP (financed) plus a monthly annual premium (~0.55% here for illustration). Actual figures depend on your property, credit and qualification.

Stack MHC MRB7 with FHA - a flat $7,000 forgivable.
See If I Qualify
Buy a Mississippi home with an FHA loan - apply nowYour Mississippi home is closer than you think →

Mississippi FHA at a glance

  • Only 3.5% down required to get into a Mississippi home
  • A 580 FICO is enough - and we help buyers rebuilding credit
  • Down payment can come from MHC help or family gifts
  • Eligible on homes, condos and 1-4 unit owner-occupied properties
  • Refinance later with a fast FHA Streamline, no appraisal

Get My FHA Pre-Approval →

Family-friendly Mississippi: best schools

School quality drives long-term home value. These Mississippi areas are among the best-regarded in the state:

Madison County Schools

Frequently the top-ranked public district in Mississippi.

DeSoto County Schools

Large, highly rated district in the fast-growing Memphis suburbs.

Ocean Springs

Well-regarded Gulf Coast schools in a charming town.

Petal

Consistently strong district near Hattiesburg.

Oxford

Top-rated schools anchored by Ole Miss.

Rankin County (Brandon)

Solid, sought-after Jackson-metro schools.

Popular Mississippi active-adult (55+) communities

Downsizing to an active-adult community in Mississippi? FHA works there too (condos must be FHA-approved). Notable options:

Reunion (Madison)

Master-planned community with age-targeted sections north of Jackson.

Lake Caroline (Madison)

Lakeside neighborhoods popular with downsizers.

Diamondhead (Gulf Coast)

Golf-and-water community with strong retiree appeal.

Active-adult sections (DeSoto County)

55+ options catching Memphis-area retirees.

Patio-home communities (Oxford)

Low-maintenance homes near Ole Miss.

Condominium communities (coast)

FHA-approved 55+ condos with low upkeep.

Where we lend in Mississippi

From the big metros to small towns, we lend statewide. A sampling of the Mississippi cities where we close FHA loans:

  • Jackson
  • Gulfport
  • Biloxi
  • Southaven
  • Olive Branch
  • Hattiesburg
  • Tupelo
  • Meridian
  • Oxford
  • Madison
  • Ridgeland
  • Starkville
  • Pascagoula
  • Ocean Springs
  • Brandon
  • Clinton
  • Columbus
  • Vicksburg
  • Horn Lake
  • Pearl

Do not see your city? Start your application → - we lend statewide across Mississippi.

Get your Mississippi FHA loan moving

First-time buyer, growing family or downsizing to a 55+ community, we line up the best Mississippi FHA program and get you pre-approved quickly with just 3.5% down.

  • Fast, no-obligation pre-approval
  • Gift funds and state DPA welcome
  • Hands-on Mississippi help from application to closing

Apply for My Mississippi FHA Loan →

Apply for your Mississippi FHA home loanGet pre-approved with 3.5% down →

The 2027 Mississippi FHA outlook

Here is where the Mississippi market is heading into 2027 for FHA buyers:

DeSoto absorbs Memphis migration

Lower taxes and top schools keep the Memphis suburbs of DeSoto County growing - all at the FHA floor.

Gulf Coast recovery

Tourism, casino and shipbuilding jobs support coastal demand around Harrison and Jackson counties.

Madison leads appreciation

Madison County's schools sustain the state's premier price growth.

Oxford stays tight

Ole Miss keeps Oxford a high-demand, supply-constrained micro-market.

Outlook only, not a guarantee or financial advice. Market conditions change; we give you current, personalized numbers when you apply.

Mississippi FHA programs we offer

FHA home purchase

The 3.5%-down path to a Mississippi primary residence - homes, condos and 2-4 units.

Rate/term streamline

Refinance an existing FHA loan to a better rate with minimal paperwork.

Renovation (203k)

One FHA loan that covers both the home and the repairs it needs.

Equity cash-out

Convert Mississippi home equity to cash up to the FHA loan limit.

Approved-condo loans

Financing across FHA-approved Mississippi condominium communities.

Assistance + gifts

Combine Mississippi down-payment programs and family gifts to buy for less.

How the Mississippi FHA process works

Apply and get pre-approved

Fill out the quick application; we confirm budget, rate and down payment fast.

Go house-hunting

Search the Mississippi neighborhoods and schools you love with a stronger offer in hand.

Underwriting

We order the FHA appraisal and clear your file with common-sense underwriting.

Move in

Sign at closing, take the keys, and settle into your new Mississippi home.

Mississippi FHA loan questions, answered

What are the 2026 FHA loan limits in Mississippi?

Every Mississippi county uses the same one-unit FHA limit of $541,287 in 2026 - including fast-growing DeSoto (Memphis suburbs), Madison and Rankin (Jackson metro), and the Gulf Coast. Two-to-four unit limits are higher.

How does MHC MRB7 work with FHA?

MRB7 provides a flat $7,000 interest-free second mortgage for down payment and closing costs, forgiven if you live in the home for 10 years. It pairs with a Mississippi Home Corporation FHA first mortgage for first-time buyers, veterans and targeted-area buyers.

How little can I put down on an FHA loan in Mississippi?

As little as 3.5% with a 580 score (10% from 500-579). That down payment can come from your savings, a family gift, or eligible assistance.

Can I buy a Mississippi condo with FHA?

Yes, as long as the condo is on the FHA-approved list or qualifies for single-unit approval - we will confirm your building before you write an offer.

Is an FHA loan right for first-time buyers in Mississippi?

For most first-timers, yes - 3.5% down, flexible 580 credit, gift funds, and it combines with Mississippi Home Corporation assistance to shrink your out-of-pocket cost.

Does CambridgeHomeLoan.com lend directly?

Yes - we are a direct FHA lender (NMLS #1826020), serving homebuyers since 1998 with hands-on guidance start to finish.

Get pre-approved for your Mississippi FHA loan

Start your Mississippi FHA pre-approval now - low 3.5% down, flexible 580 credit, gift funds and state assistance accepted. Direct lender, no obligation, since 1998.

Get Pre-Approved for a Mississippi FHA Loan

Fast, friendly, no obligation.

Get Your Free Quote! No Credit Pull Required.

Start My Application →

Serving Mississippi homebuyers Since 1998!
© 2026 CambridgeHomeLoan.com  ·  NMLS #1826020  ·  4830 W Kennedy Blvd, Tampa, FL 33609  ·  (800) 826-5077  ·  Equal Housing Lender  ·  NMLS Consumer Access

Rates, terms, FHA loan limits and program guidelines are for 2026, subject to change, and depend on the property, credit and qualification. Not a commitment to lend. This is not a government agency. Equal Housing Lender.


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