What is the 2026 FHA loan limit in Memphis?

$541,287 for a one-unit home in Shelby County, the national FHA floor.

Are Memphis rentals a good fit for DSCR loans?

Often. Lower prices mean rent can cover the payment more easily, but the combined city and county tax rate is high, so we run the full payment with real taxes and insurance before you offer.

Is there down payment assistance in Memphis?

Yes. The City of Memphis offers down payment assistance, and THDA's Great Choice Plus is available statewide. Income and price limits apply.

Is Nick Grisanti licensed to lend in Memphis?

Yes. Nick is licensed as a Mortgage Loan Originator in Tennessee (TN #2719729), and loans are originated through C2 Financial Corporation, NMLS #135622.

Shelby County · Tennessee

Mortgages in Memphis.

Nick Grisanti

Mortgage Loan Originator · NMLS #2719729FL #LO138662 · OH #MLO-OH.2719729 · TN #2719729 · TX SML licensedC2 Financial Corporation · NMLS #135622

Purchase, refinance and rental property loans in Memphis and Shelby County, from 100+ wholesale lenders through C2 Financial Corporation.

$541,2872026 FHA limit, Shelby County
100+Wholesale lenders

Step 1 of 4

What can we help you with?

A few details

Credit score, roughly

When are you hoping to close?

Main income type

First home you've bought?

Monthly debt payments (car, student, cards)

Served in the military? (optional)

How will it be rented?

How do you know the rent?

Expected gross rent per month

Prepayment penalty you could accept

How would you document income?

Renovation budget

Value after renovation (estimate)

Plan when it's done

The lot

Lot value (estimate)

Construction budget

Plans and permits

Who is building it?

When it's finished, you'll

Buying in your name or an LLC?

Projects in the last 3 years

Include taxes and insurance in the monthly payment?

Loan amount, if you know it

2026

Memphis by the numbers

Memphis is one of the most affordable large metros in the South, and its rents relative to prices draw investors from across the country. The FHA limit sits at the national floor, which covers nearly every purchase here.

FHA · 1 unit · Shelby County $541,287 The national floor, which covers most purchase prices here.

Conforming · 1 unit $832,750 Loans above this are jumbo loans.

Median sale price $180,000 City of Memphis, three months ending September 2026 (Redfin).

Property tax $5.28 Per $100 of assessed value for 2026: Shelby County $2.70 plus City of Memphis $2.58. Homes are assessed at 25% of appraised value.

Income tax None on wages Tennessee has no state income tax on wages, which helps your debt-to-income ratio.

Closing $0.37 + $0.115 Tennessee transfer tax is $0.37 per $100 of price; mortgage tax is $0.115 per $100 of the loan above the first $2,000.

Check your county's FHA limit with HUD's lookup. Two- to four-unit properties have higher limits. Nick confirms the current figures for your county before every rate lock.

Local rules and costs

What buyers in Memphis should know

Taxes Budget for the combined rate Memphis property is taxed by both the city and Shelby County, about $5.28 per $100 of assessed value combined. On a DSCR loan, taxes are part of the payment the rent has to cover, so use the real figure.

Short-term rentals STR license required Memphis requires a short-term rental license to operate or advertise, applied for through the Develop 901 portal. Develop 901 STR → First-time buyers City down payment help The City of Memphis runs down payment assistance for buyers up to 80% of area income, with other tiers in designated areas and incentives for police, firefighters and school employees. City program → First-time buyers THDA Great Choice Tennessee Housing Development Agency's 30-year fixed loan (640+ credit, income and price limits by county), with down payment help of $6,000 to $15,000 through Great Choice Plus. THDA programs → Investors Rental property in Memphis A DSCR loan qualifies on the property's rent rather than your personal income, which suits investors who own several properties or live outside Memphis. How DSCR works →

About Memphis

Living and buying in Memphis

Memphis is a logistics hub. FedEx is the metro's largest employer, with about 35,000 workers, and the river, rail and interstate network supports a large distribution economy.

Housing ranges from historic homes in Midtown and Central Gardens to suburban East Memphis and Cordova. Germantown, Collierville and Bartlett are separate cities with their own tax rates.

Neighborhoods

Where buyers look

East Memphis
Midtown
Cooper-Young
Central Gardens
Harbor Town
Cordova
Germantown
Collierville

Schools: Memphis-Shelby County Schools within the city; some suburbs run their own districts. Check the district for any specific address before you buy.

Loans in Memphis

Loan programs

Most common Conventional Fannie Mae and Freddie Mac loans for primary homes, second homes and investment property. Conventional loans → Flexible credit FHA Low down payment for a Memphis home you'll live in, with local down payment help. FHA in Memphis → Veterans VA For eligible veterans, service members and surviving spouses. VA loans → Higher prices Jumbo Loan amounts above the conforming limit. Jumbo loans → Investors DSCR Buy or refinance a Memphis rental on the property's rental income. DSCR in Memphis → Self-employed Bank statement For self-employed borrowers whose tax returns understate their income. Bank statement loans → Home equity HELOC and cash-out Borrow against your home's equity with a line of credit or a cash-out refinance. Compare options →

Not every lender offers every program in every state, and all loans are subject to credit approval and program guidelines. Nick compares 100+ wholesale lenders through C2 Financial Corporation to find the programs that fit your scenario.

Questions

Memphis mortgage FAQ

What is the 2026 FHA loan limit in Memphis?: $541,287 for a one-unit home in Shelby County, the national FHA floor.
Are Memphis rentals a good fit for DSCR loans?: Often. Lower prices mean rent can cover the payment more easily, but the combined city and county tax rate is high, so we run the full payment with real taxes and insurance before you offer.
Is there down payment assistance in Memphis?: Yes. The City of Memphis offers down payment assistance, and THDA's Great Choice Plus is available statewide. Income and price limits apply.
Is Nick Grisanti licensed to lend in Memphis?: Yes. Nick is licensed as a Mortgage Loan Originator in Tennessee (TN #2719729), and loans are originated through C2 Financial Corporation, NMLS #135622.