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FHA loans in New Albany, OH

Quick answer

The 2026 FHA loan limit in New Albany, OH (Franklin County) is $591,100 for a single-family home, enough for a purchase price up to about $612,000 with 3.5% down. On the $728,200 median home value, that down payment is about $25,487 and the estimated payment is $6,085/month at 7.18%, which needs roughly $261,000 a year in income.

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

Median household income: $232,524; value-to-income ratio 3.13. New Albany ranks 1 by home value and 180 by population among 186 places in our OH dataset.

What does an FHA loan cost on a typical New Albany home?

ItemNew Albany
Median home value (Census ACS)$728,200
Ohio median home value$199,200
Down payment (3.5%)$25,487
Loan incl. 1.75% upfront MIP$715,010
Estimated monthly payment (PITI + MI)$6,085
Income needed (28% / 36%)$261,000 / $203,000
Franklin County 2026 FHA limit (1 unit)$591,100
Max purchase price at the limit$612,000

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

Payment includes Ohio's 1.36% effective property tax rate (Census ACS), $1,116/yr homeowners insurance (NAIC state average) and 0.55% annual FHA MIP.

What is the 2026 FHA loan limit in New Albany?

New Albany is in Franklin County where HUD's 2026 one-unit FHA limit is $591,100. With the minimum 3.5% down, that caps the purchase price at about $612,000; above that you'd need a bigger down payment or a conventional loan (conforming limit $832,750).

The New Albany median home value of $728,200 is 266% above the Ohio median, and above what the county limit supports.

Which down payment assistance programs can New Albany buyers use?

FHA loans in nearby cities

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FHA loan FAQs for New Albany

New Albany is in Franklin County, where HUD's 2026 FHA limit for a one-unit home is $591,100. With 3.5% down, that supports a purchase price up to about $612,000.

3.5% of $728,200 is about $25,487 with a 580+ credit score (10%, or $72,820, with a 500–579 score), plus closing costs.

At the $728,200 median value (above the Ohio median of $199,200), the estimated payment of $6,085/month at 7.18% needs about $261,000 a year under the 28% housing guideline, or $203,000 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.