Buying · Florida

FHA loans

Government-insured, and the most forgiving mainstream program there is. When credit is bruised or the debt-to-income ratio is tight, FHA is usually the answer.

Get pre-qualified Price an FHA loan

What credit score do you need for an FHA loan in Florida?

FHA's own floor is 580 for 3.5% down, or 500 with 10% down. Individual lenders commonly overlay a higher minimum, and down payment assistance programs frequently require 620 or 640. As a broker we can tell you which lenders are actually writing at your score today.

What FHA is genuinely good at

Wider debt-to-income tolerance than conventional, a much lower credit floor, and comfort with gift funds and non-occupant co-borrowers. If a conventional file has been declined for ratios or score, FHA is usually where it goes next.

The trade is the mortgage insurance: a 1.75% upfront premium financed into the loan, plus an annual premium that runs for the life of the loan unless you put 10% or more down.

Minimum down3.5%At 580+ credit score

Upfront MIP1.75%Financed into the loan

Annual MIPLife of loan11 years at 10%+ down

With assistance$0 downDPA covers the 3.5%

Next step

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Five minutes, no credit pull to start, and a straight answer from a licensed loan officer.

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Straight answers

Frequently asked

How much is FHA mortgage insurance?

A 1.75% upfront premium financed into the loan, plus an annual premium of 0.55% above 95% loan-to-value or 0.50% at or below it on a 30-year term. The annual premium runs for the life of the loan unless the down payment is 10% or more, in which case it ends after 132 payments.

Can you buy with no money down using FHA?

Yes, when down payment assistance covers FHA's 3.5% minimum required investment. The FHA first mortgage stays at 96.5% loan-to-value and the assistance supplies the remaining 3.5% as a second lien.

Often compared with

Related programs

Down payment assistance

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A licensed Florida loan officer, on the phone, with a straight answer either way.