1st Florida Mortgage


Only 3.5% Down


Only 3.5% Down

Florida FHA Loans | Great for 1st Time Home Buyers – Only 3.5% Down

Florida FHA Lender

Requirements For FHA LoansOur 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. 

More About FHA Loans

FHA is an abbreviation for the Federal Housing Administration and is a part of U.S. Department of Housing and Urban Development . Congress created HUD and the FHA in 1934 to make it easier for home buyers to get home loans. They do this by insuring mortgages for single family and multifamily homes. FHA mortgage insurance provides lenders with protection against a loss if a FHA homeowner defaults on a loan. Loans must meet requirements established by the FHA to qualify for this insurance. FHA and HUD have insured over 34 million homes since 1934. They are the largest insurer of mortgages in the world. 1st Florida Mortgage is a FHA mortgage lender located in Florida. 

 FHA Advantages

FHA -Things to Know

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Florida FHA Loans

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