It’s easy to understand why many people looking for a new home are turning to FHA Loan Florida insured programs. Because FHA Loans are insured by the Federal Housing Administration homebuyers have an easier time qualifying for a mortgage.  We provide you with FHA Loan Limits in Florida Counties.  Loan Trust FHA Loan Program is the premiere for first time home buyers.

How to get FHA Loan In Florida Video?

FHA Loan Limits in Florida Counties

Those who typically benefit most by an FHA loan are first-time home buyers and those who have less than perfect credit.  But anyone can apply for an FHA Loan and you don’t have to be a first time home buyer.

FHA Loan Limits 2022

Listed below are the FHA mortgage lending limits in the state of Florida.  These limits vary based on housing types for single-family, duplex, triplex and a quadraplex/4-unit.  These limits can also vary by county.  

FHA Loan Florida

Fha Loan Florida

Why an FHA Loan?

Typically an FHA loan Florida is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. An FHA down payment of 3.5%is required. Borrowers who cannot afford a traditional down payment of 20% or can’t get approved for private mortgage insurance should look into FHA loans.

ALACHUA County Get Pre-Qualified Now
GAINESVILLE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
BAKER County Get Pre-Qualified Now
JACKSONVILLE, FL
Single Duplex Tri-plex 4-Unit
$432,400 $553,550 $669,100 $831,550
BAY County Get Pre-Qualified Now
PANAMA CITY, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
BRADFORD County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
BREVARD County Get Pre-Qualified Now
PALM BAY-MELBOURNE-TITUSVILLE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
BROWARD County Get Pre-Qualified Now
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL
Single Duplex Tri-plex 4-Unit
$460,000 $588,850 $711,800 $884,600
CALHOUN County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
CHARLOTTE County Get Pre-Qualified Now
PUNTA GORDA, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
CITRUS County Get Pre-Qualified Now
HOMOSASSA SPRINGS, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
CLAY County Get Pre-Qualified Now
JACKSONVILLE, FL
Single Duplex Tri-plex 4-Unit
$432,400 $553,550 $669,100 $831,550
COLLIER County Get Pre-Qualified Now
NAPLES-MARCO ISLAND, FL
Single Duplex Tri-plex 4-Unit
$552,000 $706,650 $854,200 $1,061,550
COLUMBIA County Get Pre-Qualified Now
LAKE CITY, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
DESOTO County Get Pre-Qualified Now
ARCADIA, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
DIXIE County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
DUVAL County Get Pre-Qualified Now
JACKSONVILLE, FL
Single Duplex Tri-plex 4-Unit
$432,400 $553,550 $669,100 $831,550
ESCAMBIA County Get Pre-Qualified Now
PENSACOLA-FERRY PASS-BRENT, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
FLAGLER County Get Pre-Qualified Now
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
FRANKLIN County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
GADSDEN County Get Pre-Qualified Now
TALLAHASSEE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
GILCHRIST County Get Pre-Qualified Now
GAINESVILLE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
GLADES County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
GULF County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HAMILTON County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HARDEE County Get Pre-Qualified Now
WAUCHULA, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HENDRY County Get Pre-Qualified Now
CLEWISTON, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HERNANDO County Get Pre-Qualified Now
TAMPA-ST. PETERSBURG-CLEARWATER, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HIGHLANDS County Get Pre-Qualified Now
SEBRING-AVON PARK, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HILLSBOROUGH County Get Pre-Qualified Now
TAMPA-ST. PETERSBURG-CLEARWATER, FL Get Pre-Qualified Now
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
HOLMES County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
INDIAN RIVER County Get Pre-Qualified Now
SEBASTIAN-VERO BEACH, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
JACKSON County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
JEFFERSON County Get Pre-Qualified Now
TALLAHASSEE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
LAFAYETTE County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
LAKE County Get Pre-Qualified Now
ORLANDO-KISSIMMEE-SANFORD, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
LEE County Get Pre-Qualified Now
CAPE CORAL-FORT MYERS, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
LEON County Get Pre-Qualified Now
TALLAHASSEE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
LEVY County Get Pre-Qualified Now
GAINESVILLE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
LIBERTY County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
MADISON County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
MANATEE County Get Pre-Qualified Now
NORTH PORT-SARASOTA-BRADENTON, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
MARION County Get Pre-Qualified Now
OCALA, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
MARTIN County Get Pre-Qualified Now
PORT ST. LUCIE, FL
Single Duplex Tri-plex 4-Unit
$431,250 $552,050 $667,350 $829,350
MIAMI-DADE County Get Pre-Qualified Now
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL
Single Duplex Tri-plex 4-Unit
$460,000 $588,850 $711,800 $884,600
MONROE County Get Pre-Qualified Now
KEY WEST, FL
Single Duplex Tri-plex 4-Unit
$710,700 $909,800 $1,099,750 $1,366,750
NASSAU County Get Pre-Qualified Now
JACKSONVILLE, FL
Single Duplex Tri-plex 4-Unit
$432,400 $553,550 $669,100 $831,550
OKALOOSA County Get Pre-Qualified Now
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL
Single Duplex Tri-plex 4-Unit
$539,350 $690,450 $834,600 $1,037,200
OKEECHOBEE County Get Pre-Qualified Now
OKEECHOBEE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
ORANGE County Get Pre-Qualified Now
ORLANDO-KISSIMMEE-SANFORD, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
OSCEOLA County Get Pre-Qualified Now
ORLANDO-KISSIMMEE-SANFORD, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
PALM BEACH County Get Pre-Qualified Now
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL
Single Duplex Tri-plex 4-Unit
$460,000 $588,850 $711,800 $884,600
PASCO County Get Pre-Qualified Now
TAMPA-ST. PETERSBURG-CLEARWATER, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
PINELLAS County Get Pre-Qualified Now
TAMPA-ST. PETERSBURG-CLEARWATER, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
POLK County Get Pre-Qualified Now
LAKELAND-WINTER HAVEN, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
PUTNAM County Get Pre-Qualified Now
PALATKA, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
SANTA ROSA County Get Pre-Qualified Now
PENSACOLA-FERRY PASS-BRENT, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
SARASOTA County Get Pre-Qualified Now
NORTH PORT-SARASOTA-BRADENTON, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
SEMINOLE County Get Pre-Qualified Now
ORLANDO-KISSIMMEE-SANFORD, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
ST. JOHNS County Get Pre-Qualified Now
JACKSONVILLE, FL
Single Duplex Tri-plex 4-Unit
$432,400 $553,550 $669,100 $831,550
ST. LUCIE County Get Pre-Qualified Now
PORT ST. LUCIE, FL
Single Duplex Tri-plex 4-Unit
$431,250 $552,050 $667,350 $829,350
SUMTER County Get Pre-Qualified Now
THE VILLAGES, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
SUWANNEE County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
TAYLOR County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
UNION County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
VOLUSIA County Get Pre-Qualified Now
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
WAKULLA County Get Pre-Qualified Now
TALLAHASSEE, FL
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150
WALTON County Get Pre-Qualified Now
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL
Single Duplex Tri-plex 4-Unit
$539,350 $690,450 $834,600 $1,037,200
WASHINGTON County Get Pre-Qualified Now
NON-METRO
Single Duplex Tri-plex 4-Unit
$420,680 $538,650 $651,050 $809,150

New Changes in FHA Loans

In response to the growing housing situation in the United States the loan limits for FHA Loan Florida limits has been temporarily raised. Depending on where you live you might find it even easier to qualify for a FHA loan.

As FHA Loan Florida specialists we can help you understand any new changes to the FHA loan program. We’re here to create a customized solution that works best for you and your family. To learn more call us at 888-588-2254 or contact us via email by clicking here.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

How FHA Loans Work

At Loan Trust we want to help you understand how a FHA mortgage loan works. In all actuality the Federal Housing Administration (FHA) doesn’t loan any money, they insure it. This means that you’re considered to be a less risky borrower than someone who might not have the backing of the federal government. Our role is to make sure that you qualify for an FHA mortgage and structure our loan to reflect it.

The other pages in the FHA loan center can help you understand more about this unique program. Whether you are trying to determine if you qualify or if you are interested in finding out what kind of documentation you’ll need to ultimately get your loan, our site can provide you the information you are seeking. Additionally we’re more than happy to take your phone calls at 888-588-2254 .

An important resource for considering a FHA loan Florida is the official Housing and Urban Development website. There you can find even more answers to questions and learn more about insuring your loan through the Federal Housing Administration.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

FHA Loan Benefits

FHA Loan Florida insured mortgages are some of the best kinds of mortgages available. This is because they can help more people into the home buying market. Check out the list below to understand some of the most basic benefits of an FHA mortgage.

Easier to Qualify for – because they’re backed by the federal government lenders are more likely to give you the kind of loan that you need.

Low Down Payment – FHA insured mortgages only require a 3.5% down-payment which makes it easier for people to own homes. Additionally the 3.5% can come in the form of gifts, unlike many other loan programs.

Lower Credit Borrowers Qualify – because FHA insured loans are backed by the government those with a poor credit history have an easier time getting this kind of loan.

Better Interest Rates – with the backing of the government these loans typically have a better interest rate than most traditional mortgage loans.

Better Home Stability – the FHA has programs designed to help homeowners keep their homes during hard times. The will work with you to help your home from falling into foreclosure. Always try to work out problems with your lender before the situation becomes dire.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

FHA Loan Checklist

When you’re applying for an FHA loan Florida program, the following list of documents will help expedite the process. We can help you understand any part of the FHA loan process so don’t hesitate to contact us with any questions.

Employment Info

  • Past two years completed tax returns.
  • Past two years W-2’s, 1099’s and any other necessary tax forms.
  • One month worth of newest pay stubs.
  • Self-employed will need three years tax returns and YTD Profit & Loss Statement.

Savings Info

  • Past three months full bank statements for all accounts.
  • Any recent statements from investment accounts (retirement, 410k, mutual funds, etc.).

Personal Info

  • Driver’s License or other official State identification.
  • Social Security Card.
  • Any Divorce, Palimony, Alimony Documents.
  • Green card or work-permit (if applicable).

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

FHA Loan Common Questions

Check out our list of common questions related to FHA mortgages. Check out our list of common questions related to FHA mortgages.

What is the FHA?

  • FHA stands for the Federal Housing Administration. It was created in 1934 to help Americans get into homes.

What makes a FHA insured mortgage beneficial?

  • A FHA insured mortgage is easy to qualify for, can be obtained with less than perfect credit, costs less and requires a smaller down-payment.

Where can I find FHA forms and other literature?

  • A great source for FHA forms and information is https://www.hud.gov/topics/buying_a_home.

What is the FHA loan limit in my area?

  • The loan limit across the country is different. Click here to see limits in your area.

Can I pay an FHA loan off early?

  • Yes, however be sure to check the pre-payment section of your contract before signing.

Can a FHA insured loan help me lower energy costs?

  • Yes, through the Energy Efficient Mortgages Program you can finance 100 percent of the cost of making your home more energy efficient. Contact us to see how.

Is there a FHA program to help me refinance my loan?

  • Yes, the recently created FHA Secure is one of the ways that we can help you refinance your current home loan. Contact us now to see what we can do for you.

Can I refinance a fixed rate FHA loan?

  • Yes. Talk with one of our professionals today to see if refinancing makes sense for you.

What is the recommended debt-to-income ratio for FHA loans?

  • The recommended debt-to-income ratio for a FHA loan is 30%.

Are FHA Loans Assumable?

  • Absolutely, you can assume an existing FHA loan or allow a buyer to assume yours.

Will I have to pay mortgage insurance with an FHA loan?

  • Yes, in fact FHA mortgages often require you to carry mortgage insurance for longer than most conventional loans.

Can I get a “fixer-upper” of a home with a FHA mortgage?

  • Yes, however you might be required to fix certain problems in the home before you can get the full loan. Speak with us today for details on this.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

FHA Qualifications

Qualifying for a home mortgage loan can be difficult, near impossible without a sizable down payment and a moderate credit report. If this describes you and you financial position, an FHA loan may be for you! There are fewer restrictions for FHA loan Florida qualifications in comparison to a standard mortgage loan. Qualifications for an FHA loan are:

  • Proven employment status of at least 2 years.
  • Steady or increasing income over a 2 year period.
  • History of on-time payment. No more than two missed payments on your credit.
  • If you’ve filed for bankruptcy you must wait at least 2 years and have good credit since you filed.
  • Those with foreclosures must wait at least 3 years since the most recent foreclosure.
  • Monthly mortgage payment should be roughly 30% of your gross income.
  • You must pay a minimum of a 3.5% down-payment.
  • Agree to 2.25% in closing costs
  • Only certain properties are eligible – single-family homes, condominiums, double-wide manufactured homes, modular homes and 2-4 unit properties.
  • The property must be your primary residence.

These are the basic qualifications for an FHA loan Florida through Loan Trust, as you can see FHA loans can be easy to qualify for and get approved with low down payments. To learn more contact us or apply online to get the process started.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

FHA Streamline Refinance

What Is An FHA Streamline Refinance?

If you already have an FHA mortgage then you might qualify for a FHA Streamline Refinance. An FHA Streamline Refinance is a great way for a borrower with an existing FHA backed mortgage to reduce their interest rate, reduce their payment or possibly both.

Here are some really cool facts about an FHA Streamline Refinance:

  • No Appraisal is Required – because your loan is already guaranteed by your existing FHA loan, the FHA will allow you to use your home’s original purchase price as your home’s current value.
  • You can still refinance even if you are underwater – even if you owe more than your home is worth, you might still be able to get an FHA Streamline Refinance loan.
  • There is no FHA prepayment penalty to worry about.
  • FHA Streamline refinance rates are the same as “regular” FHA loan rates.
  • Employment verification is not required with an FHA Streamline Refinance – in other words, no paystubs, no W-2s or tax returns are required for approval.
  • Income verification is not required with an FHA Streamline Refinance
  • Credit score verification is not required with an FHA Streamline Refinance – instead of checking your credit, your payment history is used to determine fi you qualify or not. You must have no late payments in the last 90 days and only one or less late payment within the last 12 months.

The Refinance Must Have A “Purpose”

Streamline Refinance applicants must demonstrate that there’s a Net Tangible Benefit in the refinance or in other words a legitimate reason for refinancing. For Example:

  • Refinancing from an Adjustable Rate Mortgage to a Fixed Rate Loan.
  • or Reducing your principal + interest + mortgage insurance 5 percent or more.

Your Loan Balance May Not Increase To Cover The New Loan Costs

The FHA prohibits increasing a Streamline Refinance’s loan balance to cover associated loan charges. The new loan balance may increase but only by the cost of the Upfront Mortgage Insurance Premium. All other costs — origination charges, title charges, escrow — must either be paid by the borrower as cash at closing, or credited by the loan officer in full.

These materials are not from HUD or FHA and were not approved by HUD or a government agency and in some cases a refinance loan might result in higher finance charges over the life of the loan.

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Our FHA Loan Rates Are Low & Our Process is Quick & Painless

An FHA loan Florida  is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.

The FHA  loan program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable.

We’re here to make the FHA home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE FHA Loan Qualifier.

We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.

The FHA Loan Process

Here’s how our home loan process works:

  • Complete our simple FHA Loan Qualifier
  • Receive options based on your unique criteria and scenario
  • Compare mortgage interest rates and terms
  • Choose the offer that best fits your needs
  • Fixed Rates
  • Adjustable Rates (ARM)
  • 3.5% Down Payments
  • Jumbo & Super Jumbo Loans
  • Terms from 5 to 30 Years

FHA Loan Requirements

Important FHA Guidelines for Borrowers

The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.

  • FICO® score at least 580 = 3.5% down payment.
  • FICO® score between 500 and 579 = 10% down payment.
  • MIP (Mortgage Insurance Premium ) is required.
  • Debt-to-Income Ratio < 43%.
  • The home must be the borrower’s primary residence.
  • Borrower must have steady income and proof of employment.

An FHA Loan  Florida is a mortgage that’s insured by the Federal Housing Administration. They allow borrowers to finance homes with down payments as low as 3.5% and are especially popular with first-time homebuyers.

FHA loans are a good option for first-time homebuyers who may not have saved enough for a large down payment. Even borrowers who have suffered from bankruptcy or foreclosures may qualify for an FHA-backed mortgage.

FHA Loan applicants must have a minimum FICO® score of 580 to qualify for the low down payment advantage which is currently at 3.5%. If your credit score is below 580, the down payment requirement is 10%. You can see why it’s important that your credit history is in good standing.

Keep in mind that FHA credit requirements cover more than just your FICO® score; they also determine eligibility based on a borrower’s payment history, bankruptcies, foreclosures, and extenuating circumstances that keep applicants from making timely payments.

As an FHA lender we will review your past credit performance while underwriting your loan. A good track record of timely payments will likely make you eligible for an FHA loan. The following list includes items that can negatively affect your loan eligibility:

  • No Credit History
    If you don’t have an established credit history or don’t use traditional credit, your lender must obtain a non-traditional merged credit report or develop a credit history from other means.
  • Bankruptcy
    Bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage. For Chapter 7 bankruptcy, at least two years must have elapsed and the borrower has either re-established good credit or chosen not to incur new credit obligations.
  • Late Payments
    It’s best to turn in your FHA loan Florida application when you have a solid 12 months of on-time payments for all financial obligations.
  • Foreclosure
    Past foreclosures are not necessarily a roadblock to a new FHA home loan, but it depends on the circumstances.
  • Collections, Judgements, and Federal Debt
    In general, FHA loan rules require the lender to determine that judgments are resolved or paid off prior to or at closing.

Basic FHA Loan Requirements

 

What is the maximum FHA loan amount for 2022?

Maximum loan amount vary by county for traditional FHA loans. The current base FHA loan limit in most of Florida counties for a one-family home is set at $420,680. For county specific limits, view HUD FHA Mortgage Limits.

What is the minimum down payment for FHA loan?

The borrower’s minimum required investment is 3.5% of the purchase price / adjusted value of the property. The source must be from borrower’s own funds or as a gift from an acceptable donor.

What are FHA guidelines for Employment history and loan income requirements?

A two-year employment and income history is required for both employees and self-employed borrowers by way of pay stubs, tax returns and W2s or 1099s.

Borrowers with court ordered alimony and child support must document receipt of the income for a minimum of three (3) months and proof that it will continue for at least three (3) years.

What is the minimum credit score required for FHA loans and first time home buyers?

A tri-merged credit report score of 640 is preferred. Depending on overall credit, sometimes borrowers may qualify with middle scores as low as 580.

In some instances, where a co-borrower does not have any credit scores, FHA will consider approval so long as the primary borrower meets the minimum credit score requirements and has more than 50% of the qualifying income with a minimum of 3 tradelines active for last 24 months.

Regardless of credit scores, FHA still evaluates overall credit history to determine if borrower gets approved eligible findings that meet FHA approval guidelines.

What is the maximum seller contributions/concessions for FHA loans?

Seller and other third party contributions are limited to 6% of the sales price.

Get Your FREE FHA Loan Quote Now!

Fha Loan Florida