FHA home loans remain one of the most popular mortgage programs for Florida homebuyers. Limited down payment, flexible credit guidelines, and low interest rates are just a few of the FHA advantages.
One of the biggest benefits of an FHA loan is the low down payment requirement. While most conventional loans require a minimum of 20% down, FHA only requires a minimum of 3.5% down payment. This is especially helpful for first-time buyers have a limited savings.
*Note: income eligible first-time buyers in Florida now have the Hometown Heroes Program option for down payment and closing costs assistance. This option allows qualified buyers 100% FHA financing. Buyers can learn more about Florida Hometown Heroes qualifying here.
Another advantage of FHA loans is they offer competitive interest rates compared to other loan options. This can save borrowers thousands of dollars over the life of their loan.
FHA loans also have no prepayment penalty, meaning borrowers can pay off or refinance their mortgage at any time without additional fees. This gives homeowners more flexibility and control over their finances. Furthermore, FHA loans offer various options, such as fixed-rate mortgages and adjustable-rate mortgages.
Homes in Florida are still pretty cheap when compared to many other states in the north or out west. In most cases, the cost to buy versus the cost to rent favors buying. Second, FHA mortgage rates are still manageable and purchasing often has advantages over renting.
Qualifying For FHA Loans in Florida:
Qualifying For FHA Loans in Florida: Like many other mortgage programs today, getting approved for an FHA loan in highly depending on credit, employment history and debt ratios. Of course, the biggest obstacle for many is the coming up with the required down payment. Well, there is hope thanks to the many down payment assistance programs available today.
Even though Florida FHA guidelines don’t state a minimum score requirement, most lenders require your middle score to be at least 620 for the maximum 96.5% financing. Buyers will even lower credit scores down to 580 can often be approved with a greater down payment of 5%-10%. There are also additional requirements in place for any FHA borrowers who may have had a bankruptcy, short sale, or foreclosure within the last 5 years.
Other than that, the only other thing FHA requires is two open trade lines showing that you have paid on time for at least 12 months. Open trade lines could be credit cards, car payments, student loans, etc. And speaking of student loans, you want to ensure you are current on all Federal loans to be eligible for an FHA mortgage.
Now that we got the basics out of the way, let’s talk about employment history. FHA will permit buyers to move between jobs as long as there is no unexplained extended gaps in employment.
Let’s say you work as a nurse at as hospital, and you recently switched employers to a different hospital. You also decided to take a two-week break before starting the new job. This would be permitted and considered normal.
However, if you were out of work for months, you should be prepared to explain the gap of employment. Extended gaps of employment can be the result of many things, like illness, care of a family member, etc.
Note, if you are newly self-employed, you would need at least 2 years of tax returns before eligibility.
Let’s talk about the required FHA loan down payment. If you were to use a Conventional loan, you would need around 5% minimum down payment. On a $300,000 loan, that’s $15,000 PLUS your closing costs. With a FHA loan, you only need to put 3.5% down or $10,500.
In addition, your FHA loan down payment can be gifted by a relative, or you borrow it from your 401k. The only place it can’t come from is the seller, but that’s often not an issue because FHA allows the seller to pay up to 6% for closing costs (and closing costs are rarely more than about 5%)
Florida FHA Loan Highlights Include:
- Low 3.5% down payment *Possibly 100% financing with approved down payment assistance programs in Florida
- Lower mortgage insurance costs
- Lower credit scores permitted
- Home seller permitted to pay buyer’s closing costs
- Loan limits of $524,225 (1-unit property) for most of Florida in 2025 *Some counties surrounding Jacksonville, Miami, Tampa, West Palm, Key West, etc, can be much higher. Please find the complete county by county FHA loan limit chart below.
- Low fixed interest rates, 15-yr and 30-yr terms
- Not limited to first-time home buyers, move-up buyers are welcome
- Flexible FHA streamline refinance options
Ready to start the process? Please connect with us today to get your FHA pre-approval started. Contact us 7 days a week by calling the number above, or just submit the Info Request Form on this page.
| MSA | COUNTY | 1-UNIT | 2-UNIT | 3-UNIT | 4-UNIT |
| GAINESVILLE, FL | ALACHUA | $524,225 | $671,200 | $811,275 | $1,008,300 |
| JACKSONVILLE, FL | BAKER | $580,750 | $743,450 | $898,700 | $1,116,850 |
| PANAMA CITY, FL | BAY | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | BRADFORD | $524,225 | $671,200 | $811,275 | $1,008,300 |
| PALM BAY-MELBOURNE-TITUSVILLE, FL | BREVARD | $524,225 | $671,200 | $811,275 | $1,008,300 |
| MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL | BROWARD | $654,350 | $837,700 | $1,012,550 | $1,258,400 |
| NON-METRO | CALHOUN | $524,225 | $671,200 | $811,275 | $1,008,300 |
| PUNTA GORDA, FL | CHARLOTTE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| HOMOSASSA SPRINGS, FL | CITRUS | $524,225 | $671,200 | $811,275 | $1,008,300 |
| JACKSONVILLE, FL | CLAY | $580,750 | $743,450 | $898,700 | $1,116,850 |
| NAPLES-MARCO ISLAND, FL | COLLIER | $764,750 | $979,000 | $1,183,400 | $1,470,700 |
| LAKE CITY, FL | COLUMBIA | $524,225 | $671,200 | $811,275 | $1,008,300 |
| ARCADIA, FL | DESOTO | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | DIXIE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| JACKSONVILLE, FL | DUVAL | $580,750 | $743,450 | $898,700 | $1,116,850 |
| PENSACOLA-FERRY PASS-BRENT, FL | ESCAMBIA | $524,225 | $671,200 | $811,275 | $1,008,300 |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL | FLAGLER | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | FRANKLIN | $524,225 | $671,200 | $811,275 | $1,008,300 |
| TALLAHASSEE, FL | GADSDEN | $524,225 | $671,200 | $811,275 | $1,008,300 |
| GAINESVILLE, FL | GILCHRIST | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | GLADES | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | GULF | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | HAMILTON | $524,225 | $671,200 | $811,275 | $1,008,300 |
| WAUCHULA, FL | HARDEE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| CLEWISTON, FL | HENDRY | $524,225 | $671,200 | $811,275 | $1,008,300 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | HERNANDO | $524,225 | $671,200 | $811,275 | $1,008,300 |
| SEBRING-AVON PARK, FL | HIGHLANDS | $524,225 | $671,200 | $811,275 | $1,008,300 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | HILLSBOROUGH | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | HOLMES | $524,225 | $671,200 | $811,275 | $1,008,300 |
| SEBASTIAN-VERO BEACH, FL | INDIAN RIVER | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | JACKSON | $524,225 | $671,200 | $811,275 | $1,008,300 |
| TALLAHASSEE, FL | JEFFERSON | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | LAFAYETTE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| ORLANDO-KISSIMMEE-SANFORD, FL | LAKE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| CAPE CORAL-FORT MYERS, FL | LEE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| TALLAHASSEE, FL | LEON | $524,225 | $671,200 | $811,275 | $1,008,300 |
| GAINESVILLE, FL | LEVY | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | LIBERTY | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NON-METRO | MADISON | $524,225 | $671,200 | $811,275 | $1,008,300 |
| NORTH PORT-SARASOTA-BRADENTON, FL | MANATEE | $547,400 | $700,750 | $847,050 | $1,052,700 |
| OCALA, FL | MARION | $524,225 | $671,200 | $811,275 | $1,008,300 |
| PORT ST. LUCIE, FL | MARTIN | $596,850 | $764,050 | $923,600 | $1,147,800 |
| MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL | MIAMI-DADE | $654,350 | $837,700 | $1,012,550 | $1,258,400 |
| KEY WEST, FL | MONROE | $967,150 | $1,238,150 | $1,496,600 | $1,859,950 |
| JACKSONVILLE, FL | NASSAU | $580,750 | $743,450 | $898,700 | $1,116,850 |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL | OKALOOSA | $603,750 | $772,900 | $934,250 | $1,161,050 |
| OKEECHOBEE, FL | OKEECHOBEE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| ORLANDO-KISSIMMEE-SANFORD, FL | ORANGE | $524,225 | $671,200 | $811,275 | $1,008,300 |
| ORLANDO-KISSIMMEE-SANFORD, FL | OSCEOLA | $524,225 | $671,200 | $811,275 | $1,008,300 |
| MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL | PALM BEACH | $654,350 | $837,700 | $1,012,550 | $1,258,400 |