FHA Loans in Florida — Low Down Payment, Flexible Credit
FHA loans are the most popular mortgage for Florida first-time buyers. Just 3.5% down with a 580 credit score — and you can stack it with Hometown Heroes for up to $35,000 in down payment assistance.
FHA Loan at a Glance
Backed by the Federal Housing Administration, FHA loans are designed to make homeownership accessible to borrowers with lower credit scores and smaller down payments.
| Feature | Details |
|---|---|
| Down Payment | 3.5% with 580+ credit score; 10% with 500–579 credit score |
| Credit Score | 580+ for 3.5% down; 500–579 for 10% down |
| Debt-to-Income Ratio | Up to 43% standard; up to 50% with compensating factors |
| Mortgage Insurance | Upfront MIP (1.75% of loan) + annual MIP (0.55%/year) |
| Loan Term | 15 or 30 years fixed-rate; adjustable-rate also available |
| Property Types | Single-family, condos (FHA-approved), townhomes, 2–4 unit properties |
| Occupancy | Primary residence only — no investment properties |
| Gift Funds | 100% of down payment can come from gift funds |
2026 FHA Loan Limits by County
FHA loan limits vary by county and property type. Here are the limits for Florida's most popular areas.
| County | 2026 FHA Limit (1-Unit) |
|---|---|
| Most Florida counties (51 of 67) | $541,287 |
| Duval, St. Johns, Clay, Nassau (Jacksonville area) | $580,750 |
| Miami-Dade, Broward, Palm Beach | $667,000 |
| Collier (Naples) | $764,750 |
| Monroe (Key West) | $990,150 |
What You Need to Qualify
Steady Income
2 years of consistent employment history. Same employer not required — same field is sufficient.
Manageable Debt
Your total monthly debts (including the new mortgage) should be 43% or less of your gross monthly income.
Clean Recent Credit
No bankruptcies in the past 2 years, no foreclosures in the past 3 years, and no delinquent federal debt.
Homebuyer Education
First-time buyers using DPA programs must complete a HUD-approved homebuyer education course.
How to Get an FHA Loan
- 1
Get Pre-Approved
Submit your income documents, credit report, and employment history. Your lender will determine your maximum FHA loan amount and provide a pre-approval letter.
- 2
Find Your Home
Work with a real estate agent to find a property within FHA loan limits. For condos, confirm the complex is FHA-approved.
- 3
Complete the Appraisal
FHA requires an appraisal to confirm the home meets HUD minimum property standards and is worth the purchase price.
- 4
Close on Your Loan
At closing, you'll pay your 3.5% down payment (or use DPA funds), upfront MIP, and closing costs. Then you get the keys.
FHA vs. Conventional
Not sure which loan type is right for you? Here's a side-by-side comparison.
| Feature | FHA Loan | Conventional Loan |
|---|---|---|
| Minimum Down Payment | 3.5% | 3% (some programs) |
| Minimum Credit Score | 580 (3.5% down) | 620 |
| Mortgage Insurance | Required for life of loan | Removable at 80% LTV |
| Upfront MIP | 1.75% of loan amount | None |
| DTI Limit | Up to 50% | Up to 45% |
| Loan Limits | County-specific (see above) | Conforming: $832,750 (most FL counties) |
| Property Standards | HUD minimum standards | Standard appraisal |
| Gift Funds | 100% of down payment | Varies by program |
| Best For | Lower credit, lower down payment | Higher credit, want to drop MI |
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Read GuideFrequently Asked Questions
Quick answers to the questions Florida homebuyers ask us most. Can’t find what you’re looking for?
Talk to an ExpertWith your documents ready — pay stubs, W-2s, and bank statements — FHA pre-approval typically takes 24 to 48 hours, and often same-day. From accepted offer to closing usually runs 30 to 45 days, including the FHA appraisal. Starting with an eligibility check tells you your price range before you shop.
FHA charges two types of mortgage insurance: an upfront premium (UFMIP) of 1.75% of the loan amount (usually rolled into the loan) and an annual premium of 0.55% of the loan amount, paid monthly. On a $300,000 loan, that's about $137/month for the annual MIP.
For most FHA loans made after June 2013, mortgage insurance is required for the life of the loan if you put less than 10% down. If you put 10% or more down, MIP drops off after 11 years. The most common way to eliminate FHA MIP is to refinance into a conventional loan once you reach 80% loan-to-value.
FHA loan limits vary by county and are updated annually. For 2026, most Florida counties have a single-family limit of $541,287. Higher-cost counties go up from there — $667,000 in Miami-Dade, Broward, and Palm Beach, and $990,150 in Monroe County. Multi-unit properties have higher limits.
Yes. FHA is one of the most popular loan types used with Hometown Heroes and other Florida Housing DPA programs. The combination of FHA's low 3.5% down payment and up to $35,000 in Hometown Heroes assistance can dramatically reduce your out-of-pocket costs.
Yes, but the condo complex must be on the FHA-approved condo list. Individual unit approvals are also available for certain properties. Your lender can verify whether a specific condo is eligible before you make an offer.
See If FHA Is Right for You
Get pre-approved in minutes — no credit pull, no obligation.