What is the minimum down payment for an FHA loan in Florida?

The minimum down payment is 3.5% with a credit score of 580 or higher. Borrowers with scores between 500-579 need 10% down.

What credit score do I need for an FHA loan?

FHA loans require a minimum credit score of 580 for 3.5% down payment, or 500 for 10% down payment.

Do FHA loans require mortgage insurance?

Yes. FHA loans require both an upfront mortgage insurance premium (1.75% of the loan amount) and annual MIP (0.55% for most loans) for the life of the loan if you put less than 10% down.

What are the FHA loan limits in Florida for 2025?

FHA loan limits in Florida vary by county. Most counties have a limit of $524,225 for a single-family home, while high-cost areas like Monroe County (Keys) can go up to $929,850.

Financing Options

FHA Home Loans

Lower barriers to homeownership. As little as 3.5% down with flexible credit standards — ideal for first-time buyers in Florida and Georgia.

Key Benefits

Low Down Payment

Put down as little as 3.5% of the purchase price — significantly less than the 5-20% required by most conventional loans.

Flexible Credit Standards

FHA loans accept credit scores as low as 580 with 3.5% down, or 500-579 with 10% down — making homeownership accessible to more buyers.

Gift Funds Allowed

Your entire down payment can come from a family gift, employer assistance program, or approved down payment assistance — no personal savings required.

Higher Debt-to-Income Ratios

FHA guidelines allow up to 50% DTI in some cases, compared to the typical 43% cap for conventional loans.

FHA Loan Costs to Know

FHA loans come with mortgage insurance premiums. Understanding these costs helps you plan your budget.

1.75%

Upfront MIP

of loan amount, can be financed into the loan

0.55%

Annual MIP

for most 30-year loans with <10% down

3.5%

Minimum Down

with credit score of 580+

How It Works

Check Your Credit & Budget

A credit score of 580+ qualifies you for minimum 3.5% down. We help you understand what you can afford in Florida or Georgia.

Get Pre-Approved

We connect you with FHA-approved lenders who know the Florida and Georgia markets. Pre-approval strengthens your offer.

Find Your Home

Work with a Wynnmore agent who specializes in first-time buyers and FHA transactions in your target market.

Close & Move In

FHA appraisal, inspections, and closing — we handle the details so you can focus on your new home.

Frequently Asked Questions

What is the minimum down payment for an FHA loan?

3.5% with a credit score of 580 or higher. If your score is between 500-579, you'll need 10% down.

Can I remove FHA mortgage insurance?

If you put less than 10% down, MIP stays for the life of the loan. With 10%+ down, it drops off after 11 years. Many buyers refinance into a conventional loan once they reach 20% equity to eliminate MI entirely.

Are there FHA loan limits?

Yes. In Florida, most counties have a 2025 limit of $524,225 for a single-family home. High-cost areas (Monroe County, Keys) go up to $929,850. Georgia limits are similar, with most counties at $524,225.

Can I use an FHA loan for a condo?

Yes, but the condo community must be on the FHA-approved condo list. Many Florida and Georgia communities are approved or can apply for approval.

Is FHA only for first-time buyers?

No. FHA loans are available to any qualified borrower, though they're especially popular with first-time buyers due to the low down payment and flexible credit requirements.

Ready to Explore FHA Financing?

We'll connect you with an FHA-approved lender and guide you through the process in Florida or Georgia.