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

Table of Contents

-How to purchase a home in Dubois County
-What are the government loan limits in Dubois County, IN?
-What parts of Dubois County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Dubois County
-What is the median home price in Dubois County, IN?
-How many people live in Dubois 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 Dubois County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Dubois County

How to purchase a home in Dubois County

Are you interested in buying a home in Dubois 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 Dubois 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 Dubois 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 Dubois 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!

FAQ

What are the Loan Limits for Dubois 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 Dubois County are eligible for USDA Loans?

  • Most of Dubois County is eligible for a USDA Rural Development home loan.
  • Eligible Zip Codes: 47513, 47521, 47527, 47532, 47541, 47542, 47546, 47575, 47580.

Do I need Flood Insurance?

  • The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.
  • Most of the flood hazard areas are located around Hall Creek, Ditch Branch, and Patoka River. All of which cross the northeastern part of the city of Jasper. Crooked Creek also crosses through the city of Jasper and sees significant flooding around it.

How do I learn about Property Taxes in Dubois County?

  • Angela C. Giesler is the Dubois County tax assessor. Her office is located at 1 Courthouse Square #104, Jasper, Indiana 47546, and she can also be reached by calling (812) 481-7010.
  • 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 Dubois County?

Currently, the median home value for Dubois County is $169,354. In addition, the median household income for residents of the county is $58,994.

How many people live in Dubois County?

As of 2019, Dubois County’s population is 42,736 which has grown by about 2% in the last decade. Demographically speaking, 89% of the population is White, and 8% Hispanic.

What are the major cities?

The county has two cities and three towns, including the city of Jasper which serves as the county seat. Other significant communities in the county are the city of Huntingburg, and the towns of Birdseye, Ferdinand, and Holland.

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

You can view all of the properties available for sale in Dubois 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 Dubois County

Dubois County, Indiana was named after Toussaint Dubois, a Frenchman who fought for the Continental Army during the American Revolutionary War. The county was originally home to the Shawnee Indian Tribe. The county was eventually established in 1818 and composed a total of 432 square miles.

Currently, the county has an unemployment rate that is lower than the national average, and an economy which has been steadily growing. The manufacturing, health care, and retail trade industries are the biggest in the county. Therefore, the most common jobs are production, office, and management.

When it comes to education, there are four school districts in the county. These districts encompass a total of 18 schools and about 7,157 students, who range from kindergarten and 12th-grade school. Most of the districts have an above-average rating based on their educational achievement.

In addition to its educational institutions, the county is also home to several historical landmarks and museums which display and celebrate the county’s history. These places include areas like the Dubois County Courthouse, Dubois County Museum, Ferdinand Historic Walking Tour, and the Huntingburg Historic 4th Street.

Artistic and cultural sites are also located within the county, and they include the Astra Theatre, Dr. Ted’s Musical Marvels, and the Jasper Arts Center/ Krempp Gallery. Additionally, the county also hosts several annual events, which include the Harvest Home Arts & Crafts Festival, A Christmas Journey: Annual Candlelit Christmas Parade, and the Festival of Trees.

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 Dubois County, Indiana

No approved condos in Dubois County currently exist. However, to put a condo through the approval process call (877) 432-5626, where our team will help you through the condo approval process.

Find Your Perfect Home in Dubois County  

Find and finance the perfect home in Dubois County. Contact us today to speak to our knowledgeable team!

To apply for a Government home loan, click here.