Our FHA loans are a great option for first time home buyers in Florida. Your down payment can be as low as 3.5% of the purchase price, plus your closing costs and fees can be covered through seller allowed concessions.   But remember you don’t have to be a first time home buyer to be eligible for a FHA loan. FHA loans can be used for your primary property and Condos are OK if on the approved FHA list.  Current 2022 Requirements: 

• FICO® score at least 580 = 3.5% down payment.
• MIP (Mortgage Insurance Premium ) required.
• Debt-to-Income Ratio < 43%.
• Must be borrower’s primary residence.
• Borrower must have steady income and be employed.

It’s often easier to qualify for an FHA loan in Florida, this is because HUD which oversees FHA has less strict guidelines when it comes to a borrower with credit problems or bankruptcy or foreclosure. Because of all of these benefits a FHA loan is usually the best loan option for most first time buyers.