FHA loans in Florida

Buying a home in Florida can be tough in hot markets like Miami, Tampa, and Orlando – especially if you're working with a lower credit score or a small down payment. FHA loans offer flexible credit guidelines and low down payment requirements. Learn who qualifies for an FHA loan, Florida loan limits, what to expect for mortgage insurance and closing costs, and where to find down payment assistance. Best of all, many lenders offer FHA loans in Florida, including Rocket Mortgage.

What are FHA loans?

FHA loans are government-backed mortgages for borrowers that offer low down payments, low closing costs, and easy credit qualification. FHA loans in Florida are insured by the Federal Housing Administration, which means the agency reimburses lenders if the borrower defaults. This backing helps lenders offer FHA loans to borrowers who may not qualify for a conventional loan.

How do FHA loans work?

FHA loans have specific rules that help make them more accessible than many conventional options. FHA loan requirements in Florida include steady income, a minimum credit score requirement, a minimum down payment, property requirements, and a maximum loan amount that varies by county. FHA loan rates are competitive and often lower than for other loan types.

FHA loan limits are set each year by the U.S. Department of Housing and Urban Development, and vary by county within each state, including Florida.

A Florida FHA loan can be used to buy various property unit types from single-family homes to multifamily properties with up to 4 units, including houses, condominiums, townhouses, and manufactured or mobile homes.

Properties must meet FHA guidelines, and borrowers must pay an up-front and an annual mortgage insurance premium (MIP). This insurance protects the lender if the borrower defaults and is part of what allows lenders to approve buyers with lower credit scores or smaller down payments.

Anyone who meets the requirements and agrees to live in the home they're buying as their primary residence can qualify for an FHA loan.

FHA also offers 203(k) rehab loans to finance home renovations and repairs. Rocket Mortgage currently does not offer FHA 203(k) loans.

FHA loans can also be used to refinance.¹ Refinancing might help you reduce your interest rate and monthly payment, or switch from an adjustable-rate to a fixed-rate mortgage.

FHA refinancing options include:

• FHA Streamline refinance.² Requires less documentation and may not need an appraisal.
• FHA rate-and-term or cash-out refinance. Provides flexibility to adjust loan terms or tap home equity.

For veterans and service members, additional refinance programs may be available through VA loan options.³

How 2026 FHA loan limits work in Florida

FHA loan limits in Florida change every year and vary by county based on local housing prices. Areas with higher home values qualify for higher limits, while lower-cost counties stay closer to the national floor.

The limits are based on median home prices in each county, up to 150% of the national conforming loan limit. Exceptions are made for homes in Alaska, Hawaii, Guam, and the U.S. Virgin Islands due to the higher construction costs.

For 2026, the FHA loan limits for a one-unit home range from $541,287 in low-cost areas to $1,249,125 in high-cost counties.

Here are the FHA loan limits by county in Florida for buying 1- to 4-unit homes.

Use the HUD lookup tool to confirm your county’s current limit, then speak with a loan officer to see what you can qualify for.

FHA loan requirements

FHA loan requirements in Florida can vary by lender, so the guidelines below reflect what you can generally expect through Rocket Mortgage. It’s always best to check with your FHA lender to confirm the exact qualifications for your situation.

The chart below outlines what you’ll usually need to qualify for an FHA mortgage in Florida, including the minimum down payment, credit score, debt-to-income ratio, income, appraisal, and inspection, and more.

FHA loan down payment assistance programs in Florida

There are several down payment assistance programs available to help Florida home buyers reduce their up-front costs when using an FHA loan. Many of these programs offer grants or low-interest second mortgages that can be used toward the down payment or closing costs. You can also explore additional resources online through HUD’s Florida homeownership assistance page.

The Florida Assist

The Florida Housing Finance Corp. (FHFC) offers the Florida Assist program, which provides up to $10,000 in down payment assistance to be applied toward your down payment or closing costs. The funds are a no-interest, deferred-payment second mortgage. To qualify, borrowers need a minimum credit score of 640, and income limits vary by county.

The Florida Homeownership Loan Program Second Mortgage

The Florida Homeownership Loan Program Second Mortgage also is an FHFC program, which offers a loan of up to $12,500. The loan is a fully-amortizing, 30-year second mortgage with a 3% interest rate. You'll need to pay this loan alongside your primary mortgage, and the payment may be considered in your DTI by lenders.

Hometown Heroes Program

The Hometown Heroes Program offers eligible Florida workers up to 5% of the first mortgage amount to use toward their down payment and closing costs. It's available for a minimum of $10,000 and a maximum of $35,000. It's open to a wide range of Florida-based employees, including teachers, health care workers, law enforcement, and many other occupations.

HFA Preferred and HFA Advantage PLUS Second Mortgage

These programs provide 3%, 4% or 5% of the purchase price as a forgivable second mortgage. The loan is forgiven at a rate of 20% per year, so it would be completely forgiven after 5 years.

Orange County Down Payment Assistance Program

The Orange County Down Payment Assistance Program offers one of the most generous local assistance programs in the state. Eligible buyers may receive:

• $70,000 for very low-income households
• $40,000 for low-income households
• $10,000 for moderate-income households

Income limits vary by household size.

Pros and cons of buying a home in Florida with an FHA loan

An FHA loan can make buying a home in Florida more affordable, but there are pros and cons to consider.

Pros

FHA loans make homeownership possible for buyers who may have difficulty qualifying for a conventional mortgage. Here are some of the most significant benefits of these loans:

• Access to down payment assistance programs. Florida offers several programs that help reduce upfront costs for FHA buyers.
• Higher FHA loan limits in some counties. Areas like Miami-Dade and Broward have elevated limits, helping buyers afford higher-priced homes with a smaller down payment.
• Assumable loans. In Florida’s competitive real estate market, FHA loans can sometimes be transferred to a new buyer at the same interest rate and terms.

Cons

While FHA loans are more accessible, they have drawbacks buyers should keep in mind:

• Stricter inspections in flood-prone areas. Many Florida neighborhoods are in FEMA flood zones, which may require additional inspections and mandatory flood insurance.
• Limited condo financing. Older condos or units within non-FHA-approved associations often don’t qualify for FHA financing, which can narrow your options.
• Mortgage insurance costs are higher in higher-priced areas. In expensive Florida counties, MIP can significantly increase monthly payments for buyers trying to afford homes in high-priced markets.

FAQ

Here are answers to some of the most common questions buyers ask when considering an FHA loan.

Is it hard to get an FHA loan right now?

FHA loans are designed to help buyers with lower credit scores, limited savings, or both. However, approval still depends on meeting requirements like income verification, DTI standards, and MIP guidelines. For some borrowers, this process may be easier than qualifying for a conventional loan, while others may find it more challenging depending on their financial situation.

What are the current FHA mortgage loan rates?

Rocket Mortgage posts its FHA loan rates online.

What is the FHA loan 75% rule?

The FHA 75% rule refers to the self-sufficiency rule, which applies when purchasing a 3- or 4-unit property with an FHA loan. It requires that at least 75% of the projected rental income from the additional units must be enough to cover the full monthly mortgage payment.

The bottom line: Using an FHA loan to buy a home in Florida

An FHA loan can make buying a home in Florida more accessible, especially for borrowers who need flexible credit requirements or a lower down payment to qualify. Florida buyers can also take advantage of down payment assistance programs and refinancing options.

If you’re exploring whether an FHA loan is the right fit, Rocket Mortgage can help you understand your options and walk you through the next steps.

¹Refinancing may increase finance charges over the life of the loan.

²The FHA Streamline program may have stricter requirements in some states. In order to qualify for the FHA Streamline program, an immediate .5% minimum reduction in interest and mortgage insurance premium is required. Some states may require an appraisal.

³Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

⁴To qualify for this offer, you must meet all standard FHA eligibility requirements. In addition, your total mortgage payment, including taxes and insurance, cannot exceed 38% of your income, your debt-to-income (DTI) ratio cannot exceed 45%, and you must have 12 months of verifiable housing history immediately prior to your application, no late payments 30 days or greater in the last 12-months, and no derogatory marks on your credit report. Not available on jumbo loans. Asset statements may be needed, no more than 1 day of non-sufficient fund fees are allowed in the most recent 2 months prior to application. Additional restrictions/conditions may apply.

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