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Bartholomew County, Indiana FHA, VA, and USDA Loan Information

Table of Contents

-Steps to buying your dream home in Bartholomew County
-What are the government loan limits in Bartholomew County, IN?
-What parts of Bartholomew County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Bartholomew County
-What is the median home price in Bartholomew County, IN?
-How many people live in Bartholomew County?
-What are the major cities?
-How do I see FHA- and VA-Approved homes for sale?
-Is there a cost to have a real estate agent represent me?
-What closing costs do I need?
-How can I get assistance with closing costs?
-About Bartholomew County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Bartholomew County

Steps to buying your dream home in Bartholomew County

Are you interested in buying a home in Bartholomew County? This is a step by step guide to all the ins and outs of the homebuying process. For more detail about FHA loans, be sure to check out our complete guide. We also have an in-depth guide to VA loans and the USDA’s Rural Development home loan program.
For now, let’s look at the basic steps to buying a home – and what you’ll have to look out for in Bartholomew County.

  1. Get in touch with a loan officer – give us a call at 877-432-5626 We can help you figure out what type of loan you might qualify for. Programs through the VA, USDA, and FHA allow you to buy a home with a small down payment – or no down payment at all. We will also check your credit and income to see how much of a loan you can qualify for. When we do this, we do a “soft pull” on your credit. This is different from an official credit inquiry and won’t hurt your credit score.
  2. Compare loan offers. Either call us or fill out the form by filling up the form at the top right of this page.
  3. Give your Loan Officer the information they need to find you a loan For a purchase loan or cash-out refinances:
    • Your ID
    • Previous two years of W2s
    • Most recent 30 days paystubs
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info
      For a refinance loan, you will also need information on the loan you want to refinance.
  4. Contact our Loan officers to compare the interest rates and APRS – but keep in mind that the fixed- and adjustable-rate mortgages are apples and oranges. Use the Loan Estimate to compare the true costs of each loan, both month-to-month and over the life of the mortgage.
  5. Find a home Get connected with a FedHome Loan Centers Real Estate Agent. Once you meet with them to talk about your wants and needs, you can sign up for the property search feed. This will give you alerts about homes for sale in Bartholomew County. Now you’re ready to preview properties and start touring homes.
  6. Make an offer and negotiate the terms of the sale
  7. Get the necessary and recommended inspections Required Inspections:
    • Termite Inspection
    • Well or septic inspections, if applicable
    • We can help you check if your home is in one of the Bartholomew County flood hazard areas.
      Recommended Inspections:
      Home Inspection, Roof Inspection, Sewer Inspection
  8. Get the home appraised Construction loans require a construction appraisal and permit approval
  9. Lock in your interest rate Pro Tip: Wait until the appraisal to lock in your loan rates. If it turns out you need to make repairs, it can push the closing back. Then you run the risk of losing that rate or having to pay an extension fee.
  10. Close the deal and get packing! You’re ready to go!


What are the Loan Limits for Bartholomew County?

  • FHA Loan Limit $331,760 (Single family residence) / $424,800 (Duplex) / $513,450 (Triplex) / $638,100 (Fourplex)
  • USDA Loan Limit $265,400
  • VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 877-432-5626 for details).

What Parts of Bartholomew County are eligible for USDA Loans?

  • Most of Bartholomew County is eligible for a USDA Rural Development home loan.
  • Eligible Zip Codes: 47201, 47226, 47232, 47236, 47244, 47246, 47247, 47280,

Do I need Flood Insurance?

  • The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.
  • In Bartholomew County, flood hazard areas are generally located around the county’s several rivers and creeks. However, the most significant ones are around Driftwood River, Flatrock River, and East Fork White River. Additionally, areas around Denios Creek and Opossum Creek also see some flooding.    

How do I learn about Property Taxes in Bartholomew County?

  • Ginny Whipple is the Bartholomew county tax assessor. Her office is located at 440 Third Street, Columbus, Indiana 47201, and can also be reached by calling (812) 379-1505.
  • The state of Indiana offers several tax incentives to promote the state’s economic development. These include a decreasing corporate tax rate, which in 2021 will drop from 6.5% to 4.9% to incentivize the creation of new businesses in the state. Additionally, the state has no gross receipts tax or inventory tax. Programs like the Economic Development for a Growing Economy offer tax credits for the creation of new jobs and improve the living standard for residents of the state.

What is the Median Home Price in Bartholomew County?

Currently, the median home value for Bartholomew County is $174,561. Also, the median household income for residents of the county is $59,045.

How many people live in Bartholomew County?

As of 2019, Bartholomew County’s population is 83,779, which has grown by about 6.3% since 2010. Demographically speaking, 80% of the population is White, with 8% Asian, and 7% Hispanic.

What are the major cities?

The county has one city, the city of Columbus, which serves as the county seat.

How do I see FHA- and VA-Approved homes for sale?

You can view all of the properties available for sale in Bartholomew County through our Multiple Listing Service. In addition, you can see approved condos at the bottom of this page.

Is there a cost to have a real estate agent represent me?

The seller must pay the real estate professionals’ commission, not the buyer. This means that, as a homebuyer, there is no cost to have a real estate agent represent you. In fact, it’s a good idea to get your own agent in order to have someone in your corner during the negotiation process. For more information about real estate agents, click here.

What closing costs do I need?

For FHA loans, closing costs can end up being 3-4% of the loan amount. These costs include origination fees from the lender, any discount points purchased for a better interest rate, and pre-paid items like insurance and taxes.

How can I get assistance with closing costs?

There are several ways to reduce the amount you have to pay at closing. One way is to get down payment assistance. The FHA’s Within Reach program provides grants to help low- and middle-income families with their down payment.

About Bartholomew County

Bartholomew County, Indiana was established in 1821 and was named after Joseph Bartholomew, a major general of the Indiana militia during the American Revolution. The county seat, which was established in 1820, was initially named in honor of John Tipton, the General who bought the land. However, the name was changed in 1821 to Columbus, which upset Tipton, prompting him to leave the town right after.

Today the county is home to two school districts that offer education to students from K-12th grade. Both schools have an above-average ranking due to the quality of their education. However, as far as higher education is concerned, the county is home to  Ivy Tech Community College Columbus, which offers two-year associate degrees.

When it comes to the economy, the country’s most prominent employment industries are in the manufacturing, healthcare, and retail industries. However, the most common occupations for residents are production, management, and office administration.

In addition to its economy and educational institutions, a county is also an excellent place for people who want to take part in some recreational activities. With parks like Anderson Falls, Clifford Park, Grammer Park, and Mt. Healthy Park offering some beautiful natural scenery. As well as enjoying the view, visitors can also take part in activities like camping, hiking, fishing, as well as use several athletic fields as they see fit.

Additionally, the county is also known for its modern architecture, which is prevalent throughout the county. Buildings that display this type of architecture include the First Baptist Church, Irwin Union Bank, and The Republic Newspaper Building.    

How much of a loan can I qualify for, based on my income?

Monthly Income Purchase Price
$2,628.90 $195,175.91
$2,832.00 $210,254.55
$3,181.50 $236,202.27
$3,612.00 $268,163.64
$3,985.50 $295,893.18
$4,361.10 $323,778.64
$4,971.90 $369,125.91
$5,761.50 $427,747.73
$6,892.20 $520,625.00
$5,199.60 $368,791.82
$5,743.80 $408,815.91
$6,249.90 $450,287.73
$6,998.10 $501,960.45
$9,776.70 $725,845.91
$5,568.00 $413,381.82
$6,574.80 $488,129.09
$7,569.60 $561,985.45
$5,141.40 $381,710.00
$6,345.30 $471,090.45
$7,639.80 $567,197.27
$8,360.10 $620,674.09
$9,260.70 $687,536.82
$10,095.30 $749,499.55
$12,165.00 $903,159.09
$13,929.60 $1,034,167.27
$17,511.00 $1,300,059.09
$18,406.80 $1,366,506.06

Purchase Price subject to credit and income evaluation.

Approved Condos in Bartholomew County, Indiana

Currently, Bartholomew County has no FHA or VA approved condos. However, it is still possible to get a condo approved and we can assist you through the process, contact us at (877) 432-5626.

Find Your Dream Home in Bartholomew County

FedHome Loan Centers can help you find and finance the perfect home in Bartholomew County. We’re dedicated to making the process smooth and stress-free! Contact us today! 

Complete a quick and easy home loan application with FedHome Loan Centers today!