What are the limits for purchase price, down payment, loan amount, for a FHA loan in Indiana.

The loan amount is based on the purchase price, whether the appraisal supports that purchase price, and the limit of the loan amount is based on the county that the property is located in Indiana. As for the down payment an FHA loan requires a minimum down payment of 3.5% of the purchase price.

The prevailing FHA loan limit for a single family residence in your state is $271,050. Limits are determined by county. There are a 7 counties that allow a higher loan limit. To be exact you would need to provide what county you are in. FHA as mentioned allows a min. of 3.5% down of your purchase price, the remaining balance is your loan amount.