Florida FHA Loan Requirements: Low Down Payments & Affordable Options for First-Time Buyers
As an approved FHA lender in Florida, we offer low rates, flexible credit guidelines, and in-house underwriting for fast, hassle-free approvals.
FHA Loan Qualifications To get started with an FHA loan, here’s what you’ll need:
Proof of steady income – Consistent employment or reliable income source
- Credit score of 600+ – Flexible credit options available
- Primary residence only – FHA loans are for your main home
- Debt-to-income ratio at or below 50% – Keeps payments manageable
- Low down payment – Just 3.5% of the purchase price
- Funds for upfront mortgage insurance (UFMIP) – Can often be financed into the loan
With competitive rates and a strong commitment to customer satisfaction, we not only make FHA loans accessible but also ensure they remain affordable—especially for first-time home buyers in Florida who are ready to take the next step toward homeownership.
$571,550 MaX Value
Stable monthly payment with less money down
Minimum FICO Credit Score
600
Minimum Down Payment
3.5%
Maximum Loan To Value
96.5%*
Maximum Debt To Income
50%*
Except Ons To 55%
Mortgage Insurance
Yes
Years Since Bankcruptcy
2
Years Since Foreclosure
3
Years Since Short Sale
3
Special Qualification Requirements
NONE
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-
DTI – ≤50% preferred; higher possible with strong finances
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Property – Primary residence meeting FHA standards
FHA Requirements
FHA loans in Florida offer an affordable, hassle-free path to homeownership—perfect for first-time buyers and those with less-than-perfect credit.
Why 1st Florida Mortgage
Close on Time
Our goal is to close every loan in 21 days or less
Low Rates
Competitive Rates, Low Fees and Fast Closings
Service
Top-notch customer support
Eligibility Requirements for an FHA Loan in Florida
FHA Loan Eligibility in Florida
To qualify for an FHA loan in Florida, borrowers must meet the following criteria:
Credit Score & Down Payment – A score of 580+ qualifies for maximum financing with just 3.5% down. Scores between 500–579 may still qualify, but require 10% down.
Down Payment Sources – Funds can come from personal savings, a family gift, or an approved grant.
Debt-to-Income Ratio (DTI) – Generally capped at 43%, though higher ratios may be accepted with strong compensating factors, such as significant cash reserves.
Employment & Income – Steady employment and verifiable income over the past two years, confirmed with W-2s, tax returns, and recent pay stubs.
Primary Residence – The property must serve as your primary home; FHA loans cannot be used for second homes or investments.
Property Standards – The home must meet FHA safety and quality standards, with an appraisal from an FHA-approved appraiser.
Mortgage Insurance Premiums (MIP) – Includes an upfront MIP (typically 1.75% of the loan amount) plus an annual MIP paid monthly.
Loan Limits – Vary by Florida county and property type; for 2025, single-family home limits range from $524,225 to $571,550.
Legal Residency – Must have a valid Social Security number and lawful U.S. residency.
Bankruptcy & Foreclosure – At least two years since bankruptcy and three years since foreclosure, with re-established credit.
1st Florida Mortgage is an approved FHA lender in Florida. Call today to speak with a licensed loan officer about your eligibility.
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