Secure your dream home with as little as 3.5% down payment. FHA loans offer flexible credit requirements and competitive rates for Florida homebuyers.
Get Pre-Qualified Today Calculate Your PaymentFHA loans are designed to make homeownership accessible with lower barriers to entry and flexible qualification requirements.
Put down as little as 3.5% with a credit score of 580 or higher. Even with scores between 500-579, you may qualify with a 10% down payment.
FHA loans are more forgiving of past credit issues, making them ideal for first-time buyers or those rebuilding their credit history.
FHA loans can be assumed by qualified buyers, potentially making your home more attractive when you decide to sell.
FHA loans typically offer competitive interest rates, often lower than conventional loans, especially for borrowers with lower credit scores.
FHA 203(k) loans allow you to finance both the purchase and renovation of a home in a single loan, perfect for Florida's diverse housing market.
FHA loans are insured by the Federal Housing Administration, providing additional security for lenders and borrowers alike.
Understanding the qualification criteria for FHA loans will help you prepare for a successful application.
580+ Credit Score: Qualify for 3.5% down payment
500-579 Credit Score: 10% down payment required
Below 500: May still qualify with compensating factors
Minimum 3.5% down payment with qualifying credit score. Down payment can come from savings, gifts from family, or down payment assistance programs available in Florida.
Front-end ratio: Maximum 31% of gross monthly income
Back-end ratio: Maximum 43% of gross monthly income
Higher ratios may be acceptable with strong compensating factors.
Steady employment for at least 2 years, though gaps may be acceptable with valid reasons. Self-employed borrowers need 2 years of tax returns.
Property must be your primary residence and meet FHA property standards. Florida condos must be in FHA-approved buildings.
Upfront Premium: 1.75% of loan amount
Annual Premium: 0.45% to 1.05% depending on loan-to-value ratio and loan term
Our streamlined process makes getting your FHA loan in Florida simple and stress-free.
Contact Louis Doherty to discuss your homebuying goals and determine if an FHA loan is right for you.
We'll review your financial situation and provide a pre-qualification letter to strengthen your home search.
Gather required documents including pay stubs, tax returns, bank statements, and employment verification.
Complete the formal FHA loan application with our expert guidance throughout the entire process.
Your loan goes through FHA underwriting where we ensure all requirements are met for approval.
Final loan approval, home appraisal completion, and closing on your new Florida home!
FHA loan limits vary by county in Florida. Here are the current limits for major metropolitan areas.
Single-Family: $766,550
2-Unit: $981,500
3-Unit: $1,185,650
4-Unit: $1,472,650
Single-Family: $766,550
2-Unit: $981,500
3-Unit: $1,185,650
4-Unit: $1,472,650
Single-Family: $766,550
2-Unit: $981,500
3-Unit: $1,185,650
4-Unit: $1,472,650
Single-Family: $472,030
2-Unit: $604,400
3-Unit: $730,275
4-Unit: $907,900
Single-Family: $472,030
2-Unit: $604,400
3-Unit: $730,275
4-Unit: $907,900
Single-Family: $472,030
2-Unit: $604,400
3-Unit: $730,275
4-Unit: $907,900
Get answers to common questions about FHA loans in Florida. Have more questions? Call Louis Doherty at (954) 394-1959
For FHA loans in Florida, you need a minimum credit score of 580 for a 3.5% down payment (or 500-579 with 10% down). Your debt-to-income (DTI) ratio should typically be 43% or less, though we can work with higher ratios up to 50% if you have strong compensating factors like high credit scores, cash reserves, or stable employment history.
Closing costs for FHA loans in South Florida typically range from 2-5% of the loan amount. For a $300,000 loan, expect $6,000-$15,000 in closing costs. This includes lender fees, title insurance, appraisal ($500-$700), recording fees, and upfront mortgage insurance premium (1.75% of loan amount, which can be financed). Costs vary by county – Miami-Dade and Palm Beach tend to be slightly higher than Broward due to higher title insurance rates.
FHA loans typically close in 30-45 days in Florida. Our process: Pre-approval (24-48 hours) → Appraisal ordered (1-2 weeks) → Processing & underwriting (7-14 days) → Clear to close (3-5 days) → Closing. We expedite whenever possible and have closed FHA loans in as little as 21 days when all parties cooperate and documentation is complete.
FHA loans require just 3.5% down payment with a 580+ credit score. For a $300,000 home in Florida, that's only $10,500 down. Down payment can come from savings, gifts from family, or down payment assistance programs available in Florida. Borrowers with credit scores between 500-579 need 10% down.
Yes, you can purchase a condo with an FHA loan in Florida, but the condominium project must be FHA-approved. We can verify if a specific condo building qualifies before you make an offer. Many popular condo communities in Palm Beach, Broward, and Miami-Dade are already FHA-approved.
FHA loan limits in Miami-Dade, Broward, and Palm Beach Counties are $766,550 for single-family homes (2025 high-cost area limits). For multi-unit properties: $981,500 (duplex), $1,186,350 (triplex), and $1,474,400 (fourplex). These limits are higher than standard Florida counties due to the high-cost housing market in South Florida.
No, FHA loans are available to both first-time and repeat homebuyers in Florida. However, you must use the property as your primary residence. There's no limit on how many times you can use an FHA loan, though you can typically only have one FHA loan at a time unless you're relocating for work or outgrowing your current home.
FHA mortgage insurance has two components: (1) Upfront Mortgage Insurance Premium (UFMIP) of 1.75% of the loan amount, which can be financed into the loan, and (2) Annual Mortgage Insurance Premium (MIP) ranging from 0.45% to 1.05% depending on your loan-to-value ratio and loan term. For most 30-year loans with less than 10% down, MIP is required for the life of the loan.
Ready to get started with your FHA loan?
Take the first step toward homeownership in Florida. Contact Louis Doherty today for a free consultation and personalized FHA loan guidance.
Call (954) 394-1959 Get Pre-Qualified OnlineReady to explore your FHA loan options? Fill out this form and Louis will contact you within 24 hours.