Median Sale Price
$395,595
Florida statewide median — below the national $417,700 median
+1.7% YoYFlorida · FHA LoansFHA Loans in Florida:
FHA Loans in Florida:
Requirements, Limits & Assistance Programs
3.5%Min. down payment
580Min. credit score
$541,287FHA loan limit — most Florida counties
43%Max debt-to-income ratio
The short version
FHA in Florida at a Glance
FHA loans are government-backed mortgages that let Florida buyers put as little as 3.5% down with a credit score of 580 or higher.
3.5%
Min. down payment (580+ score)
10%
Down payment if score 500–579
1.75%
Upfront mortgage insurance premium (MIP)
FHA loans are insured by the Federal Housing Administration and originated by FHA-approved lenders like Intra-Mortgage. In Florida they're popular with first-time and workforce buyers because the credit and down payment requirements are more flexible than conventional loans — but two Florida realities matter more here than almost anywhere: homeowner's and wind insurance costs feed into your debt-to-income ratio, and a condo has to be on the FHA-approved list to finance with FHA.
Florida-specific note: Most Florida counties use the 2026 FHA floor of $541,287 for a single-family home — Hillsborough (Tampa), Orange (Orlando), Duval (Jacksonville), and Lee (Fort Myers) all fall within it. South Florida is the exception: Miami-Dade, Broward, and Monroe (the Keys) carry higher FHA limits. Always confirm the limit for the specific county before you shop.
Florida housing market
Market Snapshot
Florida's market has cooled from its frenzy — inventory is up and homes sit longer, which gives FHA buyers more room to negotiate and use assistance.
Days on Market
69 days
Statewide average — slower than 2022–23, so buyers have negotiating room
Longer than 2024Homes Sold
30,460
Statewide, May 2026 — a large, liquid market with steady inventory
StableFHA Share (National)
17%
Of U.S. purchase loans are FHA — the flexible-credit path many FL buyers use
National avgLonger days-on-market and higher inventory are the FHA buyer's friend: sellers are more willing to accept an FHA offer and to cover repairs the appraiser flags. The bigger monthly-cost variable in Florida isn't the loan — it's insurance. Getting a wind and flood insurance quote early keeps your debt-to-income ratio from surprising you at underwriting.
Down payment help
Florida First-Time Buyer Programs
These programs can be layered on top of an FHA loan to reduce your out-of-pocket costs at closing.
Florida Assist (FL Assist)
Florida Housing Finance Corporation
- Benefit
- Up to $10,000
- Structure
- 0%, non-amortizing, deferred second mortgage. Not forgivable. Due on sale, transfer, first-mortgage payoff, refinance, or if you stop occupying the home. Must be paired with a Florida Housing first mortgage. 640+ score; first-time buyer under the IRS definition.
Source: Florida Housing Finance Corporation · Verified Sep 8, 2026
Florida Homeownership Loan Program (FL HLP)
Florida Housing Finance Corporation
- Benefit
- $12,500
- Structure
- 3% fully amortizing second mortgage with a 30-year term. Remaining unpaid principal is due on sale, deed transfer, first-mortgage payoff, refinance, or if you stop occupying the home. The monthly second-mortgage payment may count in DTI. Must be paired with a Florida Housing first mortgage.
Source: Florida Housing Finance Corporation · Verified Sep 8, 2026
Florida Hometown Heroes Housing Program
Florida Housing Finance Corporation
- Benefit
- Up to 5% of the first mortgage (minimum $10,000, maximum $35,000)
- Structure
- 0%, non-amortizing, 30-year deferred second mortgage. Not forgivable. Due on sale, refinance, deed transfer, or if you stop occupying the home. Full-time workers for a Florida-based employer; first-time buyers (veterans exempt); typically under 150% of county AMI; 640+ score.
Source: Florida Housing Finance Corporation · Verified Sep 8, 2026
Stack these programs. Florida Housing down payment assistance is designed to sit on top of an FHA (or conventional) first mortgage originated by a participating lender. FL Assist offers up to $10,000; FL HLP offers $12,500 as an amortizing second. Hometown Heroes can add up to 5% (minimum $10,000, maximum $35,000) for qualifying workforce buyers. Layered with FHA, your down payment can be covered largely or entirely — you'll still owe closing costs unless the seller or a program covers them.
Real scenarios
Florida FHA Borrower Profiles
Common buyer combinations we see in Florida — and how FHA works for each.
Profile A
First-time workforce buyer, Tampa
Buying a $340,000 home in the Tampa metro. W-2 income at $68,000/year as a full-time teacher, credit score 640, minimal debt. May qualify for Hometown Heroes — up to 5% toward the down payment and closing. Pairs with a 3.5% FHA down payment, bringing cash-to-close down substantially.
3.5% downHometown Heroes candidate~40 day close
Profile B
Condo buyer, Orlando
Wants a $265,000 condo near downtown Orlando. FHA can finance it — but only if the condo project is on the FHA-approved list (or clears single-unit approval). We check the approval status before writing the offer, because an unapproved building is the most common way a Florida FHA condo deal stalls.
FHA condo approval requiredCheck building first35–45 day close
Profile C
Self-employed buyer, Cape Coral
2-year self-employed history, Schedule C income averaging $82,000/year after write-downs, credit score 668. FHA accepts a 2-year average for self-employment. Needs 2 years of complete tax returns, a year-to-date P&L, and business bank statements. Down payment: 3.5% (~$12,600 on a $360K home).
2-yr tax returns needed+7–10 day underwriting40–52 day close
Profile D
Coastal buyer weighing insurance, Fort Myers
Buying a $400,000 home near the coast. The loan qualifies easily — the swing factor is wind and flood insurance, which feeds into the FHA debt-to-income ratio. We model the full monthly payment with real insurance quotes up front, so the payment that clears underwriting is the payment you actually planned for.
Insurance drives DTIQuote insurance early35–45 day close
Run the numbers
Florida FHA Payment Estimator
Estimate your monthly payment including MIP — the piece most calculators leave out. Insurance in Florida is separate and can be significant; ask us for a full quote.
Florida median: $395,595 · FHA floor: $541,287
Rates vary by credit score and lender
Monthly P&I
$2,519
Principal & interest
Monthly MIP
$175
Mortgage insurance premium (MIP)
Total Monthly
Talk to a loan officer$2,694
Before tax & insurance
Estimates only. Does not include property tax, homeowner's / wind / flood insurance, or HOA / condo dues — which run higher in much of Florida. MIP rate assumes LTV > 90% for loans ≥ 30 years. Not a commitment to lend.
Answers to real questions
Florida FHA Loan FAQs
From the field
A Florida Loan Officer's Take on FHA
"In Florida, the loan is rarely the hard part — insurance and condo approval are. I've seen buyers get pre-approved on price and then watch a wind-insurance quote eat their debt-to-income ratio. So we quote insurance and check the condo's FHA status before we ever write an offer. Do that, and FHA is one of the smoothest ways to buy here — especially stacked with Hometown Heroes."
Katie Smith
VP of Operations & Senior Loan Officer, Intra-Mortgage — Licensed in FL, IN, OH, MIKatie relocated from Fort Wayne to Fort Myers with her family, so she knows Florida buying, relocation, and second homes firsthand. She specializes in first-time and workforce buyers where layering Florida Housing assistance with FHA can meaningfully cut cash-to-close.
What she watches for on Florida FHA files:
- Wind and flood insurance quotes that push debt-to-income over the limit
- Condo projects that are not FHA-approved — checked before the offer, not after
- Hometown Heroes / FL Assist income limits that vary county to county
Sources & references
Where these figures come from
- 2026 FHA loan limits by county (Florida floor $541,287; Miami-Dade, Broward, and Monroe are high-cost)U.S. Dept. of HUD
- 2026 conforming loan limit baseline ($832,750), which sets the FHA floorFederal Housing Finance Agency
- Florida Housing homebuyer program terms and eligibilityFlorida Housing Finance Corp.
- Florida Hometown Heroes Housing ProgramFlorida Housing Finance Corporation
FL Housing–Participating Lender
Access to Florida's DPA programs
5.0 Google Rating
Verified borrower reviews
NMLS #2620605
Equal Housing Lender
Licensed in FL, IN, OH, MI
Multi-state mortgage guidance
Ready to move forward?
Talk to a Florida FHA specialist
Get straight answers on limits, insurance, condo approval, and the assistance you actually qualify for — no obligation.