Mortgage Guide: Lyon County, Iowa
In Lyon County, Iowa, the 2026 FHA loan limit for a single-family home is $541,287, and the conforming loan limit is $832,750. The median home value in this county is $230,000, and median household income is $76,746.
📋 2026 Loan Limits by Property Type
FHA and Conforming limits for 1-4 unit properties in Lyon County
| Property Type | FHA Limit | Conforming Limit |
|---|---|---|
| 1-Unit | $541,287 | $832,750 |
| 2-Unit | $693,062 | $1,066,250 |
| 3-Unit | $838,994 | $1,288,800 |
| 4-Unit | $1,041,137 | $1,601,750 |
Source: FHFA Conforming Loan Limits 2026, HUD FHA Forward Mortgage Limits 2026.
💰 Monthly Payment Estimate (Median-Priced Home)
Based on current 30-year fixed rate of 7.40% and a home price of $230,000
| Loan Type | Down Payment | Est. Monthly P&I |
|---|---|---|
| FHA | 3.5% ($8,050) | $1,536/mo |
| Conventional (10%) | 10% ($23,000) | $1,433/mo |
| Conventional (20%) | 20% ($46,000) | $1,273/mo |
Estimates include principal and interest only. Property tax, insurance, and mortgage insurance (MIP/PMI) not included. Use our full calculator →
📝 Mortgage Market Insight
Financing coverage is robust in Lyon County. The 2026 FHA limit of $541,287 exceeds the $230,000 median home value by 235%, while the conforming limit of $832,750 provides 362% coverage. Neither limit constrains purchasing power for typical buyers; the median-priced home falls well within both programs' parameters. Monthly principal and interest payments represent a moderate burden relative to the $76,746 median household income ($6,396/month). At the current 7.40% rate, an FHA loan with 3.5% down ($221,950 loan) yields a $1,536 P&I payment—24.0% of gross monthly income. Conventional financing with 20% down ($184,000 loan) reduces P&I to $1,273, or 19.9% of income. Both ratios remain below the 28% front-end threshold, though the FHA option approaches it when adding mortgage insurance premiums, taxes, and insurance. For the typical buyer, conventional financing with 10–20% down offers the strongest value proposition given the ample conforming limit and absence of upfront or ongoing mortgage insurance at 20% equity. However, the 10% down payment ($23,000) and 20% down payment ($46,000) present meaningful liquidity barriers. FHA's 3.5% minimum ($8,050) significantly lowers the entry threshold, and USDA financing—available in this rural county—offers 0% down for eligible borrowers, eliminating the down payment barrier entirely. VA loans provide the same advantage for
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View Market Data for Lyon County →How Lyon County Compares
| Metric | Lyon County | U.S. Baseline |
|---|---|---|
| FHA Limit (1-unit) | $541,287 | $524,225 |
| Conforming Limit (1-unit) | $832,750 | $832,750 |
| Median Home Value | $230,000 | $355,000 (est.) |
| Median Household Income | $76,746 | $75,000 (est.) |
Frequently Asked Questions
What is the FHA loan limit in Lyon County?
The 2026 FHA limit for a single-family home in Lyon County is $541,287. This is above the national floor of $524,225.
What is the conforming loan limit in Lyon County?
The 2026 conforming loan limit is $832,750 for a single-family home. Loans above this amount are considered "jumbo" and typically require stricter credit and larger down payments.
Can I use a VA or USDA loan in Lyon County?
VA loans have no county limit for eligible veterans with full entitlement. USDA loans are available in eligible rural areas—check the USDA's eligibility map to confirm Lyon County qualifies.
Data Source: FHFA Conforming Loan Limits 2026, HUD FHA Forward Mortgage Limits 2026, U.S. Census Bureau ACS 5-Year Estimates. All data is public domain. This page is for informational purposes and does not constitute financial advice.