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FHA loans in Grand Island, NE

Quick answer

The 2026 FHA loan limit in Grand Island, NE (Hall County) is $541,287 for a single-family home, enough for a purchase price up to about $560,000 with 3.5% down. On the $202,600 median home value, that down payment is about $7,091 and the estimated payment is $1,868/month at 7.18%, which needs roughly $81,000 a year in income.

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

Median household income: $62,439; value-to-income ratio 3.24. Grand Island ranks 8 by home value and 4 by population among 17 places in our NE dataset.

What does an FHA loan cost on a typical Grand Island home?

ItemGrand Island
Median home value (Census ACS)$202,600
Nebraska median home value$223,800
Down payment (3.5%)$7,091
Loan incl. 1.75% upfront MIP$198,930
Estimated monthly payment (PITI + MI)$1,868
Income needed (28% / 36%)$81,000 / $63,000
Hall County 2026 FHA limit (1 unit)$541,287
Max purchase price at the limit$560,000

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

Payment includes Nebraska's 1.50% effective property tax rate (Census ACS), $2,142/yr homeowners insurance (NAIC state average) and 0.55% annual FHA MIP.

What is the 2026 FHA loan limit in Grand Island?

Grand Island is in Hall County where HUD's 2026 one-unit FHA limit is $541,287. With the minimum 3.5% down, that caps the purchase price at about $560,000; above that you'd need a bigger down payment or a conventional loan (conforming limit $832,750).

The Grand Island median home value of $202,600 is 9% below the Nebraska median, and within what the county limit supports.

Which down payment assistance programs can Grand Island buyers use?

FHA loans in nearby cities

HastingsKearneyColumbusLexingtonLincolnNorfolk

FHA loan FAQs for Grand Island

Grand Island is in Hall County, where HUD's 2026 FHA limit for a one-unit home is $541,287. With 3.5% down, that supports a purchase price up to about $560,000.

3.5% of $202,600 is about $7,091 with a 580+ credit score (10%, or $20,260, with a 500–579 score), plus closing costs.

At the $202,600 median value (below the Nebraska median of $223,800), the estimated payment of $1,868/month at 7.18% needs about $81,000 a year under the 28% housing guideline, or $63,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 1 statewide programs are verified for this city (1 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.