Florida FHA Loan Programs and Loan Limits

FHA Loans Florida

FHA loan mortgage lending limits in FLORIDA vary based on the different housing types and the costs of local Florida housing. FHA home loans are designed for borrowers who are unable to make large down payments. FHA loans are also typically an attractive option for first-time home buyers, first responders, and teachers.

• The maximum Florida FHA loan lending limit for a one family (and condominium) residential home is 271,050 in most Florida counties, however, there are some counties that exceed the FHA limit. The Florida counties of Baker, Broward, Clay, Collier, Duval, Lake, Manatee, Martin, Miami-Dade, Monroe, Nassau, Okaloosa, Orange, Osceola, Palm, Beach, Sarasota, Seminole, St. Johns, St. Lucie and Walton are considered high cost counties and have a higher FHA loan limit.
• The minimum down payment for a Florida FHA loan is only 3.5%.
• The FHA home loan is a very popular loan program for Florida home buyers and homeowners who are seeking an affordable refinance mortgage because of the flexible underwriting guidelines and reduced credit score requirement. Monthly mortgage insurance is required for both purchase and refinance loans, however, the monthly premium is very affordable.

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• Step 1. Mortgage details
• Step 2. Mortgage additional details
• Step 3. Personal Data

Step 1 of 3

Loan Type Purchase Refinance Home equity Reverse mortgage

Property Type Single family home Multi-family home Townhouse Condo Mobile home

Property Use Primary home Secondary home Rental property

Property Value $50,000 or less $50,001 - 75,000 $75,001 - 100,000 $100,001 - 125,000 $125,001 - 150,000 $150,001 - 175,000 $175,001 - 200,000 $200,001 - 250,000 $250,001 - 300,000 $300,001 - 350,000 $350,001 - 400,000 $400,001 - 450,000 $450,001 - 500,000 $500,001 - 750,000 $750,001 - 1,000,000 $1,000,001 - 1,500,000 $1,500,001 - 2,000,000 Over $2,000,000

Step 2 of 3

Credit Rating Excellent (720 or Above) Good (620 - 719) Fair (580 - 619) Needs Improvement (579 or lower)

Military or Veteran No Yes

Any Bankruptcy No Yes	Any Foreclosure No Yes
Bankruptcy Time Less than 1 year 1 Year 2 Years 3 Years 4 Years 5 Years More than 5 years	Foreclosure Time Less than 1 year 1 Year 2 Years 3 Years 4 Years 5 Years More than 5 years

First Time Buyer? No Yes	Purchase Time Frame 0-3 months 3-6 months 6-12 months 12+ months Not sure
DownPayment 0% 5% 10% 15% 20% 25% 30% 40% 50%

First Mortgage Balance $50,000 or less $50,001 - 75,000 $75,001 - 100,000 $100,001 - 125,000 $125,001 - 150,000 $150,001 - 175,000 $175,001 - 200,000 $200,001 - 250,000 $250,001 - 300,000 $300,001 - 350,000 $350,001 - 400,000 $400,001 - 450,000 $450,001 - 500,000 $500,001 - 750,000 $750,001 - 1,000,000 $1,000,001 - 1,500,000 $1,500,001 - 2,000,000 Over $2,000,000	CashOut Amount 0 (No cash) $1 - 25,000 $25,001 - 50,000 $50,001 - 75,000 $75,001 - 100,000 $100,001 - 125,000 $125,001 - 150,000 $150,001 - 200,000 $200,001 - 250,000 $250,001 - 300,000 $300,001 - 350,000 $350,001 - 400,000 $400,001 - 450,000 $450,001 - 700,000 $700,001 - 950,000 $950,001 - 1,450,000 $1,450,001 - 1,950,000
Second Mortgage No Yes	Second Mortgage Balance $50,000 or less $50,001 - 75,000 $75,001 - 100,000 $100,001 - 125,000 $125,001 - 150,000 $150,001 - 175,000 $175,001 - 200,000 $200,001 - 250,000 $250,001 - 300,000 $300,001 - 350,000 $350,001 - 400,000 $400,001 - 450,000 $450,001 - 500,000 $500,001 - 750,000 $750,001 - 1,000,000 $1,000,001 - 1,500,000 $1,500,001 - 2,000,000 Over $2,000,000

Purchase Price $50,000 or less $50,001 - 75,000 $75,001 - 100,000 $100,001 - 125,000 $125,001 - 150,000 $150,001 - 175,000 $175,001 - 200,000 $200,001 - 250,000 $250,001 - 300,000 $300,001 - 350,000 $350,001 - 400,000 $400,001 - 450,000 $450,001 - 500,000 $500,001 - 750,000 $750,001 - 1,000,000 $1,000,001 - 1,500,000 $1,500,001 - 2,000,000 Over $2,000,000	Any Mortgages No First Mortgage Only First and Second Mortgages
Purchase Year 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990

TotalMortgageBalance $50,000 or less $50,001 - 75,000 $75,001 - 100,000 $100,001 - 125,000 $125,001 - 150,000 $150,001 - 175,000 $175,001 - 200,000 $200,001 - 250,000 $250,001 - 300,000 $300,001 - 350,000 $350,001 - 400,000 $400,001 - 450,000 $450,001 - 500,000 $500,001 - 750,000 $750,001 - 1,000,000 $1,000,001 - 1,500,000 $1,500,001 - 2,000,000 Over $2,000,000

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First Name

Last Name

When were you born?

Month January February March April May June July August September October November December Day12345678910111213141516171819202122232425262728293031 Year2008200720062005200420032002200120001999199819971996199519941993199219911990198919881987198619851984198319821981198019791978197719761975197419731972197119701969196819671966196519641963196219611960195919581957195619551954195319521951195019491948194719461945194419431942194119401939193819371936193519341933193219311930192919281927192619251924

Phone Number	Email Address
Address	City
State AL (Alabama) AK (Alaska) AZ (Arizona) AR (Arkansas) CA (California) CO (Colorado) CT (Connecticut) DE (Delaware) DC (District of Columbia) FL (Florida) GA (Georgia) HI (Hawaii) ID (Idaho) IL (Illinois) IN (Indiana) IA (Iowa) KS (Kansas) KY (Kentucky) LA (Louisiana) ME (Maine) MD (Maryland) MA (Massachusetts) MI (Michigan) MN (Minnesota) MS (Mississippi) MO (Missouri) MT (Montana) NE (Nebraska) NV (Nevada) NH (New Hampshire) NJ (New Jersey) NM (New Mexico) NY (New York) NC (North Carolina) ND (North Dakota) OH (Ohio) OK (Oklahoma) OR (Oregon) PA (Pennsylvania) RI (Rhode Island) SC (South Carolina) SD (South Dakota) TN (Tennessee) TX (Texas) UT (Utah) VT (Vermont) VA (Virginia) WA (Washington) WV (West Virginia) WI (Wisconsin) WY (Wyoming)	ZIP Code

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What exactly is the FHA?

The Federal Housing Administration (FHA) was founded during the Great Depression to support the housing industry. It was originally designed to stabilize the housing industry. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934. The FHA remains committed to help homeowners that do not satisfy typical financing needs, have a low credit score or have an inconsistent income history. Borrowers that meet this criteria should also look into the HUD Homes program by visiting the HUDHomestore

What is the maximum loan amount/limit 2017?

Maximum loan amount vary by county for your traditional FHA loans in Florida. The current base FHA loan limit in most of Florida counties for a one-family home is set at $275,665.00.

Florida First-Time Home Buyer Loan:

The Florida FHA loan program was designed and created to help increase homeownership. The Florida FHA loan program makes buying a home easier and less expensive than any other types of real estate mortgage home loan programs.

Are there income limits with a Florida FHA loan?

No.

Do I need to be a first time home buyer?

No you absolutely do not. A Florida FHA loan is available for first time home buyers as well as seasoned homeowners

Is the the seller permitted to pay my closing costs or incentives?

Yes they can absolutely help with that. The Federal Housing Administration (FHA) will allow the home seller to pay as much as 6% of the purchase price toward the buyer’s settlement costs.

Do I need to have perfect credit for a Florida FHA loan?

The FHA credit score guidelines are the same in Florida as they are anywhere else in the United States. You can even qualify for a Florida FHA loan with less than perfect credit. Get help with your Home Loans for Bad Credit by reading our article here.

What advantages do home owners have with an FHA loan in Florida?

Firstly, FHA loans in Florida have a much smaller down payment than conventional loans. This is often the reason that home buyers choose FHA loans over other types of mortgages. Conventional home loans usually require a down payment equal to 20 percent of the total value of the loan.

You can learn more by clicking here to read about the pros and cons of FHA loans.

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