2023 FHA Loan Limits in Wisconsin
FHA loans can put homeownership in reach for many people who struggle to qualify for a conventional loan. In most of Wisconsin you can borrow up to $472,030 for a single-family home with an FHA loan. However, in the two counties that fall into the Twin Cities metro area, the FHA loan limit for a single-family home is $515,200. Here’s more of what you should know about securing an FHA loan in Wisconsin.
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Wisconsin 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 | $80,000 |
| ASHLAND | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| BARRON | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| BAYFIELD | $472,030 | $604,400 | $730,525 | $907,900 | $124,000 |
| BROWN | $472,030 | $604,400 | $730,525 | $907,900 | $235,000 |
| BUFFALO | $472,030 | $604,400 | $730,525 | $907,900 | $141,000 |
| BURNETT | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| CALUMET | $472,030 | $604,400 | $730,525 | $907,900 | $255,000 |
| CHIPPEWA | $472,030 | $604,400 | $730,525 | $907,900 | $240,000 |
| CLARK | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| COLUMBIA | $472,030 | $604,400 | $730,525 | $907,900 | $375,000 |
| CRAWFORD | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| DANE | $472,030 | $604,400 | $730,525 | $907,900 | $375,000 |
| DODGE | $472,030 | $604,400 | $730,525 | $907,900 | $190,000 |
| DOOR | $472,030 | $604,400 | $730,525 | $907,900 | $185,000 |
| DOUGLAS | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| DUNN | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| EAU CLAIRE | $472,030 | $604,400 | $730,525 | $907,900 | $240,000 |
| FLORENCE | $472,030 | $604,400 | $730,525 | $907,900 | $95,000 |
| FOND DU LAC | $472,030 | $604,400 | $730,525 | $907,900 | $160,000 |
| FOREST | $472,030 | $604,400 | $730,525 | $907,900 | $87,000 |
| GRANT | $472,030 | $604,400 | $730,525 | $907,900 | $139,000 |
| GREEN | $472,030 | $604,400 | $730,525 | $907,900 | $375,000 |
| GREEN LAKE | $472,030 | $604,400 | $730,525 | $907,900 | $166,000 |
| IOWA | $472,030 | $604,400 | $730,525 | $907,900 | $375,000 |
| IRON | $472,030 | $604,400 | $730,525 | $907,900 | $93,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $250,000 |
| JUNEAU | $472,030 | $604,400 | $730,525 | $907,900 | $117,000 |
| KENOSHA | $472,030 | $604,400 | $730,525 | $907,900 | $386,000 |
| KEWAUNEE | $472,030 | $604,400 | $730,525 | $907,900 | $235,000 |
| LA CROSSE | $472,030 | $604,400 | $730,525 | $907,900 | $225,000 |
| LAFAYETTE | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| LANGLADE | $472,030 | $604,400 | $730,525 | $907,900 | $90,000 |
| LINCOLN | $472,030 | $604,400 | $730,525 | $907,900 | $171,000 |
| MANITOWOC | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| MARATHON | $472,030 | $604,400 | $730,525 | $907,900 | $171,000 |
| MARINETTE | $472,030 | $604,400 | $730,525 | $907,900 | $105,000 |
| MARQUETTE | $472,030 | $604,400 | $730,525 | $907,900 | $142,000 |
| MENOMINEE | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| MILWAUKEE | $472,030 | $604,400 | $730,525 | $907,900 | $380,000 |
| MONROE | $472,030 | $604,400 | $730,525 | $907,900 | $180,000 |
| OCONTO | $472,030 | $604,400 | $730,525 | $907,900 | $235,000 |
| ONEIDA | $472,030 | $604,400 | $730,525 | $907,900 | $142,000 |
| OUTAGAMIE | $472,030 | $604,400 | $730,525 | $907,900 | $255,000 |
| OZAUKEE | $472,030 | $604,400 | $730,525 | $907,900 | $380,000 |
| PEPIN | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| PIERCE | $515,200 | $659,550 | $797,250 | $990,800 | $448,000 |
| POLK | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| PORTAGE | $472,030 | $604,400 | $730,525 | $907,900 | $200,000 |
| PRICE | $472,030 | $604,400 | $730,525 | $907,900 | $85,000 |
| RACINE | $472,030 | $604,400 | $730,525 | $907,900 | $212,000 |
| RICHLAND | $472,030 | $604,400 | $730,525 | $907,900 | $124,000 |
| ROCK | $472,030 | $604,400 | $730,525 | $907,900 | $185,000 |
| RUSK | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| SAUK | $472,030 | $604,400 | $730,525 | $907,900 | $219,000 |
| SAWYER | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| SHAWANO | $472,030 | $604,400 | $730,525 | $907,900 | $135,000 |
| SHEBOYGAN | $472,030 | $604,400 | $730,525 | $907,900 | $198,000 |
| ST. CROIX | $515,200 | $659,550 | $797,250 | $990,800 | $448,000 |
| TAYLOR | $472,030 | $604,400 | $730,525 | $907,900 | $134,000 |
| TREMPEALEAU | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| VERNON | $472,030 | $604,400 | $730,525 | $907,900 | $136,000 |
| VILAS | $472,030 | $604,400 | $730,525 | $907,900 | $170,000 |
| WALWORTH | $472,030 | $604,400 | $730,525 | $907,900 | $273,000 |
| WASHBURN | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $380,000 |
| WAUKESHA | $472,030 | $604,400 | $730,525 | $907,900 | $380,000 |
| WAUPACA | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| WAUSHARA | $472,030 | $604,400 | $730,525 | $907,900 | $282,000 |
| WINNEBAGO | $472,030 | $604,400 | $730,525 | $907,900 | $180,000 |
| WOOD | $472,030 | $604,400 | $730,525 | $907,900 | $137,000 |
How are FHA loan limits determined?
Each year, the U.S. Department of Housing and Urban Development (HUD) sets loan limits for every county in the United States. These limits are, in turn, based on the conforming loan limits set by the Federal Housing Finance Agency (FHFA). As housing prices go up, so do limits for both conforming and FHA loans.
In most of the U.S., FHA loan limits are set at 65% of the conforming loan limit — also known as the floor. However, in higher-cost counties, the limit can rise up to 150% of the conforming loan limit. That figure, also known as the ceiling, is the highest loan limit nationally. The floor for FHA loans in 2023 is $472,030, while the ceiling is $1,089,300.
How to qualify for an FHA loan in Wisconsin
It’s generally easier to qualify for an FHA loan versus a conventional mortgage, especially if you have credit or down payment challenges. However, you’ll still need to meet certain FHA loan requirements:
A minimum down payment of 3.5%: With a credit score of 580 or more, you may be able to qualify for a 3.5% down payment on your loan.
A credit score of 500 or higher: You can still qualify for an FHA loan, even with a few dings on your credit. However, if your credit score is between 500 and 579, you’ll need to come up with at least a 10% down payment.
A debt-to-income ratio (DTI) below 43%: Your DTI ratio represents your total monthly debt payments divided by your total monthly income. It will need to be under 43% in order to qualify for most FHA loans, although in some situations, a lender may allow a higher DTI ratio.
An FHA home appraisal: To get approved for a loan, your future home will need an FHA home appraisal to verify its value and to make sure it meets the quality and safety requirements for FHA loans.
Mortgage insurance: FHA loans charge an upfront mortgage insurance premium of 1.75% of the loan amount (which can be rolled into the loan), along with an annual mortgage insurance premium of 0.15% to 0.75% (which is typically added to your monthly payments).
Occupancy: Any home you buy with an FHA loan must be your primary residence for at least 12 months after purchase.
Buying a multifamily property with an FHA loan
One benefit of FHA loans is that you can use them to buy multifamily properties with the same minimum down payment of 3.5% that’s offered for single-family homes. The only catch is that, as with all FHA loans, you have to live in one of the units for at least 12 months after purchase.
FHA lenders in Wisconsin
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Sebonic Financial | 3 stars | 550 |
| Guaranteed Rate | 5 stars | Not disclosed |
| Truist Mortgage | 4 stars | 580 |
| Fairway Independent Mortgage | 3 stars | 580 |