Table of Contents
-Purchasing a home in Harrison County
-What are the government loan limits in Harrison County, IN?
-What parts of Harrison County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Harrison County
-What is the median home price in Harrison County, IN?
-How many people live in Harrison 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 Harrison County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Harrison County
Purchasing a home in Huntington County
Are you interested in buying a home in Huntington 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 Huntington County.
- 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.
- Compare loan offers. Either call us or fill out the form by filling up the form at the top right of this page.
- 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.
- 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.
- 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 Huntington County. Now you’re ready to preview properties and start touring homes.
- Make an offer and negotiate the terms of the sale
- 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 Huntington County flood hazard areas.
Home Inspection, Roof Inspection, Sewer Inspection
- Get the home appraised Construction loans require a construction appraisal and permit approval
- 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.
- Close the deal and get packing! You’re ready to go!
What are the Loan Limits for Huntington 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 Huntington County are eligible for USDA Loans?
- Most of Huntington County is eligible for a USDA Rural Development home loan.
- Eligible Zip Codes: 46702, 46750, 46792.
Do I need Flood Insurance?
- The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.
- In Huntington County, there are flood hazard areas located all over the county especially around the Salamonie Lake, Wabash River, Little River, and Salamonie River. These rivers cross cities and towns like Warren, Mount Etna, Andrews, and the City of Huntington.
How do I learn about Property Taxes in Huntington County?
- Terri L. Boone is the Huntington County tax assessor. His office is located at 201 North Jefferson Street, Huntington, Indiana 46750, or can be reached by calling (260) 358-4800.
- 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 Huntington County?
Currently, the median home value for Huntington County is $111,721. In addition, the median household income for residents of the county is $52,208.
How many people live in Huntington County?
As of 2019, Huntington County’s population is 36,520 which includes about 2,252 veterans. Demographically the population is 94% White, 2% Hispanic, and 1% Mixed Race.
What are the major cities?
The county has thirteen cities, including the city of Huntington which serves as the county seat. Twelve other cities in the county are Andrews, Banquo, Bippus, Goblesville, Lancaster, Majenica, Markle, Monument City, Mount Etna, Plum Tree, Roanoke, and Warren.
How do I see FHA- and VA-Approved homes for sale?
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 Huntington County
Huntington County, Indiana was organized in 1834 after being home to the Miami people for hundreds of years. It was named in recognition to Samuel Huntington, a signer of the Declaration of Independence and President of the Continental Congress. Originally the county’s economy was based on its natural limestone deposits and several other mining interests in Huntington City, earning it the nickname of “The Lime City.”
Today the county has an economy where its biggest employers are in the manufacturing, health care, and educational services industries. Hence, most residents in the county have jobs in the production, office administrative, and sales occupations.
When it comes to education, the county is served by one school district, the Huntington County Community School Corporation. This district has ten schools within it. All combined, they offer education to about five thousand students every year. As far as higher education is concerned, the county is home to Huntington University. This four-year private institution offers graduate and undergraduate degrees in more than 80 disciplines.
Additionally, the county is also home to several artistic and cultural institutions that allow both visitors and residents alike to enjoy work by local artists. These places include the Frebella Calligraphy & Design Studio, the Merillat Centre for the Arts, and the Board and Brush Creative Studio.
The county also celebrated its history with places like the Forks of Wabash Historical Park, the Huntington County Historical Museum, and the Roanoke Area Heritage Center.
If the outdoors are more your speed, then you can take advantage of the county’s many parks, trails, and lakes. With the most notable ones being Salamonie Lake, Camp Timber Lake, the Lime City Trail, and Pehkojia Woods. All of these offer great opportunities for fun activities for chidren and adults.
How much of a loan can I qualify for, based on my income?
|Monthly Income||Purchase Price|
Purchase Price subject to credit and income evaluation.
Approved Condos in Huntington County, Indiana
There are no FHA or VA approved condos currently within Huntington County. However, it is still possible to get a condo approved, just call us at (877) 432-5626, and our team of real estate professionals will assist you through the condo approval process.
Finance Your Perfect Home in Huntington County
FedHome Loan Centers can help you find and finance the perfect home in Huntington County.
If you’d like to learn more information about government loans or other programs we offer, contact us.