Florida FHA Loan
Florida FHA loans, including the condo stuff most lenders punt on.
3.5% down, flexible credit, and a workable program for a state where prices have climbed. The trick in Florida is the property side, especially condos.
All loans subject to credit and underwriting approval. Not all applicants will qualify. Rates, terms, and program availability are subject to change without notice. This page is for general education and is not an offer to lend or a commitment to make a loan. Travis Penny, NMLS ID #1649161, is a mortgage loan originator with Vision Mortgage, LLC, NMLS #1286953. Equal Housing Opportunity.
How do FHA loans work for buying in Florida?
FHA loans are a flexible, lower down payment way to buy in Florida, and I close them regularly. FHA is backed by the Federal Housing Administration, so lenders can accept lower credit scores and a smaller down payment than most conventional loans, which helps first time and budget conscious buyers. In Florida there is one extra wrinkle, condos must be on an FHA approved project list or qualify for single unit approval, and I handle that check up front. Mortgage insurance and county loan limits apply and update yearly, so we confirm current figures for your county. As a broker I weigh FHA against your other options so you only use it when it truly fits. Tell me what you are buying and I will show you the math.
3.5% down
Low down payment for first time and repeat buyers.
Condo savvy
FHA condo approval rules are real. I know which projects work.
Insurance aware
We factor wind and flood insurance correctly so your DTI is right the first time.
Florida FHA loan requirements
Generally a 580+ credit score for the 3.5% down option, a debt to income ratio that fits the program, and a property that meets FHA condition standards. In Florida, that condition piece is bigger than people think (roof age, four point inspection, wind mitigation).
Condos and FHA
Not every condo project is FHA approved. Some are project approved, some need a single unit approval. I check the project before you write the offer so we don't burn appraisal money on a deal that can't close.
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I'll lay out your options in plain English. No pressure, no scripts.