Nearly 20% of today’s buyers will purchase their home using an FHA loan, a loan type that is backed by the Federal Housing Administration.
FHA loans are sometimes referred to as “helper loans,” because the FHA has the ability to approve buyers who may have less to put down at closing or who have less-than-perfect credit.
Because the FHA takes on more risk lending to these buyers, they also set a limit on how much buyers can take out when taking out an FHA loan. In 2021, FHA loan limits were raised nearly $25,000 nationally, which helps combat the continually rising cost of homes throughout the country.
Most Minnesota counties now have an FHA loan limit of $356,362. Thirteen of the more expensive counties have a higher 2021 FHA loan limit of $402,500. Those Minnesota counties are:
- Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Le Seuer, Mille Lacs, Ramsey, Scott, Sherburne, Washington and Wright
If you’re considering an FHA loan in 2021, here are the FHA loan limits for each county in Minnesota.
Remember, some cities span more than one county. Ask your REALTOR® or lender about the loan limit you can expect if you’re searching for homes near county lines.
2021 FHA loan limits for Minnesota counties
|
Minnesota county |
FHA loan limit for 2021 |
|
Aitkin County |
$356,362 |
|
Anoka County |
$402,500 |
|
Becker County |
$356,362 |
|
Beltrami County |
$356,362 |
|
Benton County |
$356,362 |
|
Big Stone County |
$356,362 |
|
Blue Earth County |
$356,362 |
|
Brown County |
$356,362 |
|
Carlton County |
$356,362 |
|
Carver County |
$402,500 |
|
$356,362 |
|
|
Chippewa County |
$356,362 |
|
Chisago County |
$402,500 |
|
$356,362 |
|
|
Clearwater County |
$356,362 |
|
Cook County |
$356,362 |
|
Cottonwood County |
$356,362 |
|
Crow Wing County |
$356,362 |
|
Dakota County |
$402,500 |
|
Dodge County |
$356,362 |
|
Douglas County |
$356,362 |
|
Faribault County |
$356,362 |
|
Fillmore County |
$356,362 |
|
Freeborn County |
$356,362 |
|
Goodhue County |
$356,362 |
|
Grant County |
$356,362 |
|
Hennepin County |
$402,500 |
|
Houston County |
$356,362 |
|
Hubbard County |
$356,362 |
|
Isanti County |
$402,500 |
|
Itasca County |
$356,362 |
|
Jackson County |
$356,362 |
|
Kanabec County |
$356,362 |
|
Kandiyohi County |
$356,362 |
|
Kittson County |
$356,362 |
|
Koochiching County |
$356,362 |
|
Lac Qui Parle County |
$356,362 |
|
Lake County |
$356,362 |
|
Lake of the Woods County |
$356,362 |
|
Le Sueur County |
$402,500 |
|
$356,362 |
|
|
Lyon County |
$356,362 |
|
Mahnomen County |
$356,362 |
|
Marshall County |
$356,362 |
|
Martin County |
$356,362 |
|
McLeod County |
$356,362 |
|
Meeker County |
$356,362 |
|
Mille Lacs County |
$402,500 |
|
Morrison County |
$356,362 |
|
Mower County |
$356,362 |
|
Murray County |
$356,362 |
|
Nicollet County |
$356,362 |
|
Nobles County |
$356,362 |
|
Norman County |
$356,362 |
|
Olmsted County |
$356,362 |
|
Otter Tail County |
$356,362 |
|
Pennington County |
$356,362 |
|
Pine County |
$356,362 |
|
Pipestone County |
$356,362 |
|
Polk County |
$356,362 |
|
Pope County |
$356,362 |
|
Ramsey County |
$402,500 |
|
Red Lake County |
$356,362 |
|
Redwood County |
$356,362 |
|
Renville County |
$356,362 |
|
Rice County |
$356,362 |
|
Rock County |
$356,362 |
|
Roseau County |
$356,362 |
|
Scott County |
$402,500 |
|
$402,500 |
|
|
$356,362 |
|
|
St. Louis County |
$356,362 |
|
Stearns County |
$356,362 |
|
Steele County |
$356,362 |
|
Stevens County |
$356,362 |
|
Swift County |
$356,362 |
|
Todd County |
$356,362 |
|
Traverse County |
$356,362 |
|
Wabasha County |
$356,362 |
|
Wadena County |
$356,362 |
|
Waseca County |
$356,362 |
|
Washington County |
$402,500 |
|
$356,362 |
|
|
Wilkin County |
$356,362 |
|
Winona County |
$356,362 |
|
Wright County |
$402,500 |
|
$356,362 |
Your 2021 home search begins now!
Don’t wait! Now is the time to start your home buying journey. You don’t need to have decided on a loan type or even a neighborhood to get started. We can help you get the insights and support you need to make a smart home investment and decision.
Contact Edina Realty or your agent today for individualized mortgage support throughout the home buying process.
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