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FHA loans in Forest Lake, MN

Quick answer

The 2026 FHA loan limit in Forest Lake, MN (Washington County) is $552,000 for a single-family home, enough for a purchase price up to about $572,000 with 3.5% down. On the $375,900 median home value, that down payment is about $13,157 and the estimated payment is $3,159/month at 7.18%, which needs roughly $136,000 a year in income.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $89,879; value-to-income ratio 4.18. Forest Lake ranks 25 by home value and 58 by population among 101 places in our MN dataset.

What does an FHA loan cost on a typical Forest Lake home?

ItemForest Lake
Median home value (Census ACS)$375,900
Minnesota median home value$305,500
Down payment (3.5%)$13,157
Loan incl. 1.75% upfront MIP$369,092
Estimated monthly payment (PITI + MI)$3,159
Income needed (28% / 36%)$136,000 / $106,000
Washington County 2026 FHA limit (1 unit)$552,000
Max purchase price at the limit$572,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Minnesota's 1.04% effective property tax rate (Census ACS), $1,988/yr homeowners insurance (NAIC state average) and 0.55% annual FHA MIP.

What is the 2026 FHA loan limit in Forest Lake?

Forest Lake is in Washington County where HUD's 2026 one-unit FHA limit is $552,000. With the minimum 3.5% down, that caps the purchase price at about $572,000; above that you'd need a bigger down payment or a conventional loan (conforming limit $832,750).

The Forest Lake median home value of $375,900 is 23% above the Minnesota median, and within what the county limit supports.

Which down payment assistance programs can Forest Lake buyers use?

FHA loans in nearby cities

HugoLino LakesHam LakeBlaineWhite Bear LakeEast Bethel

FHA loan FAQs for Forest Lake

Forest Lake is in Washington County, where HUD's 2026 FHA limit for a one-unit home is $552,000. With 3.5% down, that supports a purchase price up to about $572,000.

3.5% of $375,900 is about $13,157 with a 580+ credit score (10%, or $37,590, with a 500–579 score), plus closing costs.

At the $375,900 median value (above the Minnesota median of $305,500), the estimated payment of $3,159/month at 7.18% needs about $136,000 a year under the 28% housing guideline, or $106,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 2 statewide programs are verified for this city (2 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.