Loan Program
FHA Loans in Florida
An FHA loan is a mortgage insured by the Federal Housing Administration. It allows down payments as low as 3.5% for borrowers with a credit score of roughly 580 or higher and more flexible guidelines than many conventional loans. It requires upfront and annual mortgage insurance premiums and is for primary residences only.
Last updated October 7, 2026
FHA requirements
| Minimum down payment | 3.5% with a credit score of about 580+; 10% may be required for lower scores |
|---|---|
| Credit | Flexible guidelines; lender overlays may apply |
| Mortgage insurance | Upfront MIP (financed into the loan) plus annual MIP paid monthly |
| Occupancy | Primary residence only (1–4 units) |
| Loan limits | County FHA limits set annually by HUD |
| Property | Must meet FHA minimum property standards; condos must be FHA-approved or eligible for single-unit approval |
| Debt-to-income | Generally more flexible than conventional; varies with compensating factors |
Florida-specific considerations
In South Florida, many buyers look at condominiums, and an FHA loan on a condo generally requires the building to be on HUD's approved condo list or to qualify for a single-unit approval. Since Florida's post-Surfside condo safety laws introduced milestone inspections and structural integrity reserve studies, some associations face special assessments or reserve shortfalls that can affect approval. Checking the building's status before you write an offer saves time and disappointment.
Insurance is a major part of a Florida payment. Homeowners policies with windstorm coverage, and flood insurance for homes in FEMA Special Flood Hazard Areas, are escrowed into your monthly payment. FHA appraisals also flag health-and-safety issues, so older homes may need a 4-point inspection and repairs noted before closing.
Florida first-time buyer programs offered through the Florida Housing Finance Corporation and some counties can often be paired with an FHA first mortgage for down payment or closing cost help. Program terms and funding change, so eligibility is confirmed at the time you apply.
Who a FHA loan is for
- First-time buyers with a smaller down payment
- Borrowers rebuilding credit or with limited credit history
- Buyers using gift funds or down payment assistance
- Buyers of 2–4 unit properties who will live in one unit
- Borrowers with higher debt-to-income ratios and compensating factors
Step-by-step process
- 01
Pre-approval
Share income, assets, and credit so Jennyffer can confirm FHA eligibility and a comfortable price range.
- 02
Shop with confidence
Check condo approval status and flood zone early on homes you like.
- 03
Contract and appraisal
An FHA appraiser confirms value and that the home meets minimum property standards.
- 04
Underwriting
Your file is reviewed and any conditions are cleared.
- 05
Clear to close
Review your Closing Disclosure and sign at closing.
Related programs
Related guides
FHA loan FAQs
What credit score do I need for an FHA loan in Florida?
FHA guidelines allow 3.5% down with a credit score of about 580 or higher, and lower scores may be considered with 10% down. Individual lenders can set stricter requirements, called overlays. Jennyffer reviews your full profile — credit, income, assets, and debts — to determine which options fit you.
Can I use an FHA loan to buy a condo in Miami?
Yes, if the condo project is FHA-approved or the unit qualifies for a single-unit approval. Many South Florida buildings are not on the approved list, and post-Surfside inspection and reserve requirements have affected some associations. Ask Jennyffer to check the building before you make an offer.
How does FHA mortgage insurance work?
FHA loans have an upfront mortgage insurance premium, usually financed into the loan, and an annual premium paid monthly. Depending on your down payment and term, annual MIP may last for 11 years or the life of the loan. Many borrowers later refinance to a conventional loan to remove it once they have enough equity.
Can I get down payment assistance with an FHA loan?
Often, yes. Florida Housing Finance Corporation programs and some county or city programs can be paired with FHA financing. Each has its own income limits, purchase price limits, and homebuyer education requirements, and availability changes over time, so eligibility is confirmed when you apply.
Can I buy a duplex with an FHA loan?
Yes. FHA allows financing of 2–4 unit properties as long as you live in one of the units as your primary residence. Projected rental income from the other units may help you qualify, subject to guidelines. Three- and four-unit properties have an additional self-sufficiency test.
Are there FHA loan limits in Florida?
Yes. HUD sets FHA loan limits by county each year, and they are higher in more expensive areas. Jennyffer will confirm the current limit for the county where you're buying and whether another program, like conventional or jumbo, may fit better for higher price points.
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Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, and property eligibility. Program availability, terms, and guidelines may change without notice. Information is for educational purposes only.