Florida FHA Loans 2026: 3.5% Down for Qualified Homebuyers

Illustrative scenarios for educational purposes only. Not a quote, lock, offer, or commitment to lend. FHA Annual MIP rates; UFMIP is 1.75% of the base loan amount and is typically financed. Conventional PMI rates vary by mortgage insurer, credit score, and LTV. Property taxes and homeowner's insurance vary by location and carrier. Binding figures appear on your Loan Estimate after a complete application. Simply Approved Mortgages LLC, NMLS# 2620881. Equal Housing Opportunity.

Next steps

Emailing your FHA payment and limit calculators scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Down payment assistance

Stack a grant on top of your loan — and close with thousands less

DPA programs are grants, forgivable second mortgages, or deferred loans that cover some (or all) of your down payment and closing costs. They stack on FHA, VA, USDA, HomeReady, and Home Possible. Income and area limits apply.

Why down payment assistance matters

How DPA helps, why it can help, and why American buyers use it

The single biggest obstacle for most first-time and moderate-income buyers is not credit or income — it is the cash needed to close. Down Payment Assistance (DPA) programs are designed to bridge that gap so qualified buyers can stop renting and start building equity sooner.

How DPA helps

DPA delivers funds — as a grant, forgivable loan, deferred second mortgage, or repayable second lien — that can be applied to your down payment, closing costs, or prepaid escrows. That means less cash out of pocket at closing and, in many cases, the ability to keep savings intact for reserves, moving expenses, and emergencies.

Why it can help you

The CFPB and HUD both confirm that thousands of federal, state, county, and city DPA programs exist. Many buyers assume they will not qualify — but most DPA programs allow moderate incomes, non-first-time buyers, or workforce occupations like teachers, nurses, and first responders. Layering DPA on an FHA, VA, USDA, or Conventional loan is one of the fastest ways to shorten the "how long until I can buy" timeline.

Why Americans should use it

The Federal Reserve's Survey of Consumer Finances shows homeowners typically hold far more household wealth than renters at comparable income levels. DPA does not lower the price of a home — it lowers the barrier to entry so more American families can start building that equity sooner, using government-backed programs paid for with public and philanthropic funds already set aside for that purpose. Unused DPA dollars simply return to the program pool at year end.

Educational information only. DPA eligibility, funding availability, income limits, purchase-price caps, occupancy rules, and repayment terms vary by program and change without notice — always confirm details directly with the program administrator. Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, FHFA, the CFPB, or any state Housing Finance Agency. All loans subject to credit approval and underwriting. Equal Housing Opportunity. NMLS# 2620881.

National & federal

Verify any DPA program on these official sources

State Housing Finance Agencies

Top-volume state DPA programs

California

CalHFA

Texas

TSAHC / TDHCA

Florida

Florida Housing

New York

SONYMA

Arizona

Arizona IDA — Home Plus

Colorado

CHFA

Georgia

Georgia Dream

North Carolina

NCHFA

Illinois

IHDA

Pennsylvania

PHFA

Ohio

OHFA

Nevada

Home Is Possible

Start My Approval →See Today's Rates →

Don't see your state? Every state has at least one Housing Finance Agency — find yours through NCSHA's directory.

Simply Approved Mortgages DPA

Simply Approved Mortgages DPA — no income cap, no first-time buyer requirement

For FHA purchase borrowers, Simply Approved Mortgages offers a repayable 10-year fixed second lien covering 3.5% or 5% of the lesser of the purchase price or appraised value. Minimum 600 credit score, primary residence only. The second-lien rate is 2% higher than the first mortgage and can be used for down payment, closing costs, or prepaids.

Start My Approval →

Not available in NY, WA, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa. Program subject to investor and FHA underwriting guidelines; not a grant. The second lien is repayable over 10 years and generally may not be resubordinated for 3–10 years depending on the assistance amount. Final eligibility and terms are determined only after a full application and underwriting review.

Simply Approved Mortgages DPA

DPA amount calculator & eligibility checker

Estimate your Simply Approved Mortgages Down Payment Assistance at 3.5% or 5% of the lesser of purchase price or appraised value, and see the 10-year repayable second-lien structure layered on top of a 30-year fixed FHA first mortgage. Then check whether you meet the core program rules.

Amount calculator

Purchase priceAppraised value

Assistance tier (% of lesser of price or appraisal)

Illustrative 1st-mortgage interest rate (%)Used only to show the 2nd-lien rate (1st rate + 2%). Not a quote.

Lesser of price or appraisal: $400,000
Estimated DPA at 3.5%: $14,000
2nd-lien term: 10-year fixed, repayable
2nd-lien rate (illustrative): 8.500% (1st rate + 2%)
Estimated 2nd-lien monthly P&I: $174/mo

Illustrative only — not a quote, lock, offer, or commitment to lend. Actual assistance, rate, and payment depend on the final loan amount, your credit profile, appraisal, and program guidelines in effect at closing. Binding figures appear only on your Loan Estimate and Closing Disclosure.

Eligibility checker

Your approximate credit score600+ lowest middle score required (620 on manufactured homes). No-credit and non-traditional credit files are not eligible.How will you occupy the property?Property type

Do you have documentable, qualifying income (W-2, self-employment, retirement, etc.)?

Are you willing to complete an approved homebuyer education course before closing?

Is the property located in NY, WA, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa?

Answer each question above to see your preliminary eligibility result.

This is a preliminary self-check, not an underwriting decision or a credit decision. It does not pull your credit and is not a quote, lock, offer, or commitment to lend. Program rules, fees, costs, terms, and conditions are subject to change without notice. Simply Approved Mortgages is not affiliated with HUD, FHA, the VA, USDA, FHFA, CHFA, FHFC, metroDPA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

Next steps

Emailing your Down payment assistance calculator scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Not sure which DPA fits you?

We confirm DPA eligibility at pre-approval — free, no commitment

Tell us your zip code and income; we'll match you to every grant and second-mortgage DPA you qualify for and build the stack on your Loan Estimate.

Start My Approval →

DPA programs are administered by federal, state, and local agencies — terms, income limits, and funding availability change frequently and without notice. Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, or any state Housing Finance Agency. Verify all program details directly with the issuing agency before applying. All loans subject to credit approval and underwriting. NMLS# 2620881.

Bring this to your Florida application

Documents required for a Florida FHA loan

A complete Florida file is the single biggest driver of a fast close. Start with your income path, then select the Florida loan purpose below.

Florida income documents

What Florida income paperwork do I need?

W-2

Salaried / hourly

Florida W-2 employees

✓Most recent 30 days of Florida pay stubs (all pages, YTD)
✓Last 2 years of W-2 statements
✓Signed 4506-C for IRS transcript verification
✓Florida employer name, phone, and address
✓2 years of federal tax returns if you have Florida side income or rentals

Florida underwriters use gross base pay plus documented OT/bonus/commission for 2 years.

1099

Contractor / business owner

Florida self-employed / 1099

✓2 years of personal federal tax returns (all pages, signed)
✓2 years of Florida business returns (1120, 1120S, or 1065) + K-1s
✓YTD profit and loss statement signed by the borrower
✓Current Florida business balance sheet
✓Florida business license or CPA letter (2+ years)

Florida self-employed income is based on bottom-line net income, averaged over 2 years.

Universal Florida FHA requirements

Documents every Florida borrower must provide

Florida identity & legal status

✓Government-issued photo ID (Florida DL acceptable)
✓Social Security card or ITIN documentation
✓Permanent residents: green card
✓Foreign nationals: passport + visa

Assets & Florida bank statements

✓Last 2 months of Florida bank statements (all pages)
✓Retirement / brokerage statements
✓Documentation for large or unusual Florida deposits
✓Proof of reserve funds if required

Credit & Florida explanation letters

✓Letter of explanation for recent inquiries
✓Letter of explanation for employment gaps
✓Bankruptcy discharge or dismissal papers
✓Letters for large Florida deposits

Other Florida circumstances

✓Florida divorce decree + child-support order
✓Lease agreements for other Florida properties owned
✓Court-ordered judgments / settlements
✓Military orders or discharge papers (Duval, Escambia, Okaloosa)

Florida documents by loan purpose

What else is required — organized by your Florida goal

Buy

Florida FHA purchase

Buying a Florida home with FHA

✓Signed gift letter + donor ability proof
✓Florida Housing DPA award letter (Hometown Heroes / FL Assist)
✓Fully executed Florida purchase contract
✓Florida wind + flood insurance quotes or binder
✓Florida HOA / condo docs + dues + FHA project approval
✓4-point / wind mitigation inspection reports

100% of the 3.5% Florida down payment may come from a documented gift or approved Florida DPA.

Refi

Florida FHA refinance

Refinancing an FHA in Florida

✓Current Florida mortgage statement
✓Original Florida note or settlement statement
✓2 yrs tax returns if self-employed
✓Florida homeowners + wind + flood insurance
✓Florida HOA statement (if applicable)
✓Cash-out: letter stating purpose of funds

FHA offers rate/term, cash-out, and Streamline refinances in Florida.

HELOC

Florida HELOC

Florida HELOC — not FHA-insured

✓Current Florida mortgage statement
✓Florida homeowners + wind insurance
✓Recent Florida property tax bill
✓Pay stubs or tax returns
✓Bank statements showing Florida reserves

A Florida HELOC is a separate revolving line secured by your home. Not FHA-insured.

HECM

Florida FHA reverse mortgage

Florida HECM for homeowners 62+

✓Photo ID proving age 62+
✓HUD-approved HECM counseling certificate
✓Florida mortgage statement + property tax bill
✓Florida insurance, HOA dues, flood + wind ins.
✓Social Security / pension / retirement docs
✓Florida home repair bids if required

HECM is FHA-insured. HUD counseling is mandatory before Florida application.

Why completeness matters on Florida FHA files

A missing Florida bank statement page, unsigned gift letter, or missing wind-mitigation report is the most common cause of Florida FHA delays. Submit everything at once so your Simply Approved Mortgages Florida Loan Officer can clear conditions faster.

Start to Florida keys

How to apply for a Florida FHA loan — 7 steps

A plain-English Florida walkthrough from credit prep through closing. Many of our recent Florida FHA purchase files close in ~21 days.*

1
Pull your Florida credit report and clean it up
Pull all three bureau reports at MyITINCredit.com ($1 for 15 days), dispute errors, and bring revolving utilization below 30% (ideally under 10%). Florida FHA files use the middle of your three FICO scores.
2
Meet with a Simply Approved Mortgages Florida Loan Officer
Your Florida Loan Officer reviews income, debts, assets, and credit against FHA guidelines AND your Florida county FHA loan limit — most counties sit at or near the statewide floor while Monroe (Keys) uses special-exception limits.
3
Get your Florida FHA pre-approval letter
After document review and an AUS pass (TOTAL Scorecard via DU/LP), you receive a written pre-approval Florida listing agents and sellers accept in competitive Miami-Dade, Broward, Palm Beach, Orange, and Hillsborough submarkets.
4
Shop for a Florida home that meets FHA property standards
Tour Florida homes inside your budget. HUD Minimum Property Requirements apply — Florida condo projects must be FHA-approved (or eligible for single-unit approval). We verify the project against HUD’s list before you write an offer.
5
Go under contract, order the Florida FHA appraisal, lock your rate
Once your Florida offer is accepted, an FHA-approved Florida appraiser is ordered, title is opened, the rate is locked, and underwriting begins in parallel.
6
Clear underwriting and Florida wind / flood insurance conditions
Florida FHA files almost always require an insurance binder (windstorm, and flood if in a Special Flood Hazard Area). Getting a Florida insurance carrier locked in early keeps DTI stable.
7
Receive your Closing Disclosure and close in Florida
Per TRID, your Closing Disclosure is delivered at least 3 business days before signing. You sign at a Florida title company or attorney, funds wire, the deed records with the county, and the keys are yours.

*Typical Florida timing on recent purchase files; actual close timing varies by program, property, appraisal/title/insurance turn times, and borrower responsiveness. Not a guarantee.

The honest Florida trade-off

Florida FHA loan pros and cons

FHA is powerful in Florida but not perfect — here’s the straight read for coastal metro and inland Florida buyers.

Florida FHA pros

+
580 FICO at 3.5% down on Florida prices.
Meaningful in Miami-Dade, Broward, Palm Beach, and Monroe where conventional 20% is out of reach.
+
Hometown Heroes + FL Assist stack on FHA.
Florida workforce and eligible buyers close the down-payment gap.
+
Higher Florida DTI tolerated.
Standard 43% back-end DTI; can stretch to approximately 56.99% with compensating factors — helpful when insurance premiums are large.
+
6% Florida seller concessions.
Sellers can fund a real slice of your Florida closing costs and insurance escrow.
+
FHA-approved Florida condos + single-unit approval.
FHA reaches most of the Florida condo market.
+
Assumable in Florida.
A qualified future Florida buyer can take over your FHA at your rate.

Florida FHA cons

!
Annual MIP for life when LTV > 90%.
Standard Florida exit is refinance to conventional at ~20% equity.
!
Florida county loan limits still cap the loan.
High-price Miami-Dade / Monroe homes may need conventional or jumbo.
!
HUD property standards apply in Florida.
Wind mitigation, roof age, and 4-point issues must be resolved pre-close.
!
Wind and flood insurance hit Florida DTI.
Coastal premiums are large — plan real quotes before you commit.
!
Florida condo project approval required.
Non-approved projects need single-unit approval, which takes time.
!
Florida lender overlays add stricter FICO/DTI.
Common overlays of 600–620 despite HUD’s 580 floor.

Florida head-to-head

Florida FHA vs Conventional — which one wins?

No universal Florida winner. The breakpoint for Florida buyers is typically around 680–700 FICO with 5%+ down and stable insurance quotes.

Florida feature	Florida FHA	Florida Conventional
Minimum FICO in Florida	580 (or 500 with 10% down)	620 (best pricing 740+)
Minimum Florida down payment	3.5%	3% (HomeReady/Home Possible); 5% standard
Max Florida DTI	43% standard (up to ~56.99% with AUS + factors)	45% standard (up to 50% with AUS + factors)
Florida mortgage insurance	UFMIP + Annual MIP	PMI only when < 20% down
MI removal in Florida	After 11 yrs if 10%+ down; life of loan if < 10%	Auto at 78% LTV (HPA); request at 80%
Florida property types	Primary 1–4 unit only	Primary, 2nd home, investment (FL vacation homes)
Florida seller concessions	Up to 6%	3% / 6% / 9% by down-payment tier
Florida condo approval	FHA project or single-unit approval required	Warrantable review — often faster
Florida loan limits	FHA floor $541,287 · Monroe/high-cost up to $1,249,125	Conforming limits per FHFA
Best Florida fit	Lower FICO, higher DTI, smaller down, workforce DPA	700+ FICO with 5%+ down, FL 2nd home, investor

A Simply Approved Mortgages Florida Loan Officer will run both programs side-by-side on your actual Florida numbers.

Illustrative Florida scenarios

Florida FHA loan examples — illustrative borrower scenarios

Six Florida profiles that match common FHA approval patterns. Results are illustrative and not guaranteed.

Illustrative Florida example

Profile

Orlando first-time buyer, 605 FICO, $320K SFR

Best Florida fit

FHA 3.5% Down + FL Assist DPA

FL Assist covered a portion of Florida down payment; closed with seller-paid closing costs.

Illustrative Florida example

Profile

Tampa teacher, 660 FICO, workforce income

Best Florida fit

FHA + Hometown Heroes

Florida Housing Hometown Heroes stacked on FHA to lower cash-to-close.

Illustrative Florida example

Profile

Jacksonville buyer, 52% DTI from student loans

Best Florida fit

FHA with Compensating Factors

Approved through TOTAL Scorecard on reserves plus stable Florida employment.

Illustrative Florida example

Profile

Miami-Dade condo buyer, FHA-approved project

Best Florida fit

FHA Condo 3.5% Down

Verified FHA-approved Florida condo project on HUD’s list before writing an offer.

Illustrative Florida example

Profile

Duval County house-hack, 2-unit

Best Florida fit

FHA on 2-Unit Primary

Lives in one Florida unit, rents the other, qualifies on projected rental income per HUD.

Illustrative Florida example

Profile

Monroe County (Keys) buyer near ceiling

Best Florida fit

FHA High-Cost Limit

Monroe special-exception FHA limit extended 3.5%-down financing above the Florida floor.

Illustrative Florida borrower profiles for educational purposes only — not a quote, offer, approval, rate lock, or commitment to lend. Actual eligibility, pricing, and cash-to-close depend on full Florida underwriting.

Expert Insight

In Florida, the FHA decision is really an insurance and DTI decision. Wind and flood premiums can push a borderline conventional DTI over the top, whereas FHA’s higher DTI ceiling plus a Florida Housing DPA can rescue the same file. Plan the refinance exit into conventional the day you close so you’re not paying Annual MIP for the life of the loan.

Simply Approved Mortgages Team

Licensed Loan Officers • NMLS# 2620881

Florida FHA loan — frequently asked questions

Answers to the most common Florida FHA loan questions, written by licensed loan officers.

Yes — FHA sets limits county-by-county. Most Florida counties sit at or near the 2026 FHA 1-unit floor of $541,287, while Monroe County (Florida Keys) and some coastal high-cost counties run higher, up to the $1,249,125 ceiling. Confirm your county on the official HUD lookup.

Trusted government resources

These independent government resources can help you research mortgage programs, rates, and your rights before you apply.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.

FHA product library

Explore FHA loan products from Florida

Every FHA program is available to Florida buyers. Deep-dive on the specific product you need — purchase, renovation, refinance, or reverse mortgage.

FHA Loans — Complete Guide

Every FHA program, requirement, and current rule in one place.

FHA 203(b) Purchase

The standard 3.5%-down FHA purchase loan.

FHA 203(k) Renovation

Buy + renovate in one FHA loan.

FHA Streamline Refinance

Faster refinance for existing FHA loans.

FHA Cash-Out Refinance

Tap equity up to 80% LTV.

FHA HECM Reverse Mortgage

HUD-insured reverse mortgage for age 62+.

FHA Loan Limits

County floor, ceiling, and how limits are set.

FHA Mortgage Insurance

UFMIP, Annual MIP, and payoff timing.

FHA Appraisal Requirements

HUD MPR standards and what appraisers check.

FHA Gift Funds

Who can gift, documentation, and the paper trail.

FHA DTI Calculator

Run your ratios against FHA benchmarks.

FHA vs Conventional

Compare total cost by credit tier.

FHA Waiting Periods

BK, foreclosure, and short-sale timelines.

Mortgage pre-approval in Florida metros

City-specific pre-approval guides with local median prices, DPA programs, closing costs, and taxes for Florida's top metros.

Explore the full guide

Keep going — related Florida FHA & purchase guides

Each of these is a deep-dive on one piece of the Florida FHA and purchase-mortgage process.

Guide

National FHA Loan Guide

Complete FHA rulebook — MIP, 580 credit, 3.5% down, and every program option.

Guide

All Florida Purchase Mortgage Programs

FHA, VA, USDA, Conventional, Jumbo, DSCR compared for Florida buyers.

Guide

First-Time Home Buyer Guide

Grants, DPA, and the exact playbook for buying your first home.

Guide

2026 FHA Loan Limits by County

HUD-published floor and ceiling with a county lookup link.

Guide

2026 Conforming Loan Limits

Compare against FHA limits to see which program fits your Florida price point.

Guide

Mortgage Pre-Approval

Get a written, underwriter-reviewed letter you can hand to a Florida listing agent.

Guide

Closing Costs Explained

Every line of the Loan Estimate — plus Florida documentary stamp and intangible tax.

Start My Approval →See Today's Rates Or call 877-813-7219

Local Florida FHA guides

Florida FHA loan pages by county and city

Every Florida county and major city has its own FHA loan guide with the same MIP rules, 580-FICO 3.5%-down FHA structure, and DPA context — localized to that market.

Florida counties

Florida cities

Florida FHA loans

Ready to take the next step?

Pick your loan type and complete a short, tailored request on our secure application page. Your Simply Approved Mortgages Loan Officer follows up within one business day.

No obligation. Soft-pull options may be available.*

By state and city

FHA Home Loans by State, City, and County

County loan limits, property taxes, insurance costs, and market conditions change what this program looks like locally. Pick your market for the version written for it. Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado.

Florida

FHA Home Loans in Florida

Cities

Counties

Colorado

FHA Home Loans in Colorado

Cities

Counties

Back to the FHA home loans national guide →

Internal library

Related mortgage guides across our library

Follow the next relevant guide for your scenario.

FHA loans

FHA loan library

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By state

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Mortgage Calculator

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Mortgage Document Checklist

Down Payment Assistance

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