Loan Limit Summary Limits for FHA Loans in Summit County, Ohio range from $314,827 for single family homes to $605,525 for four-plex. Any apartment with more than 4 units is considered commercial and does not quality for an FHA loan.
The biggest advantages to FHA loans are the reduced down payment and credit requirements. FHA loans allow a down payment of as low as.
Credit Needed For Fha Loan For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, which is currently at around 3.5 percent. If your credit score is below 580, however, you aren’t necessarily excluded from FHA loan eligibility.