Homexa®

FHA Loan Guide for Florida Home Buyers

FHA loans are one of the most accessible paths to homeownership in Florida. Here is what buyers need to know about using FHA financing to purchase a home in the Sunshine State.

By Homexa® Team. Published May 19, 2026. Updated September 25, 2026.

FHA loans, backed by the Federal Housing Administration, are one of the most popular mortgage products for first-time and moderate-income buyers in Florida. With lower down payment requirements and more flexible credit standards than conventional loans, FHA financing opens the door to homeownership for buyers who might not qualify for conventional financing.

FHA Loan Basics FHA loans require a minimum down payment of 3.5 percent if your credit score is 580 or above. If your score is between 500 and 579, a 10 percent down payment is required. FHA loans are insured by the federal government, which allows lenders to offer them with more flexible underwriting guidelines than conventional loans.

FHA Loan Limits in Florida FHA loan limits vary by county. High-cost counties like Miami-Dade, Broward, and Palm Beach have higher limits than inland counties. For 2026, buyers in South Florida can finance more with an FHA loan than in previous years due to annual limit adjustments tied to home price appreciation. Check with your lender for the current limit in your target county.

FHA and Florida's Insurance Market One important consideration in Florida is homeowners insurance. FHA lenders require a valid homeowners insurance policy before closing, and in Florida's disrupted insurance market, finding coverage at a reasonable cost is a critical step. Start researching insurance options early in your home search to avoid surprises.

FHA Mortgage Insurance Premium (MIP) FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75 percent of the loan amount (which can be rolled into the loan) and an annual MIP paid monthly. For buyers who put less than 10 percent down, MIP lasts the life of the loan. This is a key cost difference versus conventional loans, where PMI can be removed once you reach 20 percent equity.

FHA Loans and Florida Down Payment Assistance FHA loans are compatible with Florida Housing's down payment assistance programs (Florida Assist and FL HLP). Combining an FHA loan with Florida Housing assistance can reduce or nearly eliminate the out-of-pocket down payment for qualifying buyers.

How Homexa® Helps FHA Buyers in Florida Homexa® agents in Florida are experienced in helping first-time buyers navigate the FHA process, including finding FHA-approved properties and working with lenders who understand Florida's unique market. Connect with a Homexa® agent in Florida to start your FHA home search.

Frequently Asked Questions

What credit score and down payment does an FHA loan require in Florida?

FHA loans require a minimum 3.5 percent down payment with a credit score of 580 or above, or 10 percent down with a score between 500 and 579. Because the federal government insures FHA loans, lenders can offer more flexible underwriting than conventional loans. Homexa® connects Florida buyers with experienced local agents.

How does FHA mortgage insurance work?

FHA loans require an upfront mortgage insurance premium of 1.75 percent of the loan amount, which can be rolled into the loan, plus an annual premium paid monthly. If you put less than 10 percent down, MIP lasts the life of the loan, unlike conventional PMI, which can be removed once you reach 20 percent equity. Homexa® can connect you with an experienced local agent in Florida.

Why does homeowners insurance matter for FHA buyers in Florida?

FHA lenders require a valid homeowners insurance policy before closing, and in Florida's disrupted insurance market, finding coverage at a reasonable cost is a critical step. Start researching insurance options early in your home search to avoid surprises. Homexa® helps Florida buyers find experienced local agents.

Can I use Florida down payment assistance with an FHA loan?

Yes. FHA loans are compatible with Florida Housing's down payment assistance programs, including Florida Assist and FL HLP, and combining them can reduce or nearly eliminate the out-of-pocket down payment for qualifying buyers. FHA limits are also higher in high-cost counties like Miami-Dade, Broward, and Palm Beach. Homexa® is a simple way to reach an experienced local agent.