A Smaller Down Payment. A Clear Path Home.
FHA financing can help qualified buyers move forward with a low down payment and more flexible credit guidelines. We’ll help you understand the payment, mortgage insurance, and documents before you decide.
What is an FHA loan?
An FHA loan is a mortgage made by a lender and insured by the Federal Housing Administration. It is available to eligible first-time and repeat buyers purchasing a primary residence.
Great For
Situations where this program may be worth exploring, subject to eligibility and underwriting.
A smaller down payment
Eligible buyers can put as little as 3.5% down, leaving more room for moving expenses and savings.
A credit profile that needs flexibility
FHA may accommodate a less established credit history or past credit challenges. Recent payment history and your overall financial picture still matter.
A little more room in the budget review
FHA can offer more flexible debt-to-income guidelines for qualified borrowers. This ratio compares monthly housing costs and debts with qualifying gross income; approval depends on the full application.
The basics to understand before you apply
- Primary residence: FHA is intended for a home you will occupy, including eligible one- to four-unit properties.
- Down payment and closing costs: A low down payment does not eliminate closing costs or prepaid expenses. Documented gift funds may be permitted, subject to program rules.
- Mortgage insurance: FHA generally includes an upfront mortgage insurance premium and an annual premium collected with your monthly payment. Financing the upfront premium increases the loan balance.
- Property review: The home must meet FHA appraisal and property requirements. An appraisal does not replace a home inspection.
2026 FHA loan limits in Florida
Effective for FHA case numbers assigned January 1–December 31, 2026. The applicable limit depends on the county and number of units. These are base mortgage limits, not home-price limits or an approval amount.
| Florida counties | 1 unit | 2 units | 3 units | 4 units |
|---|---|---|---|---|
| All other Florida counties (51) | $541,287 | $693,050 | $837,700 | $1,041,125 |
| Manatee, Sarasota | $547,400 | $700,750 | $847,050 | $1,052,700 |
| Baker, Clay, Duval, Nassau, St. Johns | $580,750 | $743,450 | $898,700 | $1,116,850 |
| Martin, Okaloosa, St. Lucie, Walton | $603,750 | $772,900 | $934,250 | $1,161,050 |
| Broward, Miami-Dade, Palm Beach | $667,000 | $853,900 | $1,032,150 | $1,282,700 |
| Collier | $764,750 | $979,000 | $1,183,400 | $1,470,700 |
| Monroe | $990,150 | $1,267,600 | $1,532,200 | $1,904,150 |
Source: HUD’s 2026 FHA forward mortgage limits. Verified October 7, 2026. Financed upfront mortgage insurance may be added under FHA rules. Limits are updated annually; confirm the county and case-assignment date before proceeding.
Documents we’ll usually start with
Your checklist depends on how you earn income and your individual circumstances. Common starting items include:
- Photo identification and recent address history
- Recent pay stubs, W-2s, and other applicable income records
- Bank statements documenting down payment, closing funds, and reserves
- Employment history and details of current monthly debts
- Gift documentation, self-employment records, or explanations of past credit events when applicable
We may request additional records during underwriting. Clear, complete documentation helps us give you useful answers early.
Common questions
Do I have to be a first-time buyer?
No. FHA financing is available to eligible first-time and repeat buyers.
Does FHA approve everyone with a low credit score?
No. Credit history, income, monthly obligations, available funds, and the property must meet underwriting requirements. A lower minimum guideline is not a promise of approval.
Can FHA mortgage insurance be removed later?
Its duration depends on your original loan terms. For many new loans with less than 10% down, annual mortgage insurance lasts for the loan term; qualifying loans with at least 10% down generally have an 11-year requirement. A future refinance would require a new review and is not guaranteed.
Have a question about eligibility? Ask Tom to review your scenario. Program information reviewed October 7, 2026.
Let’s see how this fits your homebuying plans.
We’ll review your interest rate, monthly payment, and closing costs together so you understand how the loan fits your goals.