What Is an FHA Loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. Because the federal government reduces the lender’s risk, FHA loans come with more flexible credit and down-payment requirements than conventional mortgages — making them one of the most popular paths to homeownership in Florida.
Whether you’re buying your first home in Miami, upgrading in Orlando, or refinancing in Tampa, FHA financing gives more Floridians a realistic shot at homeownership.
Who Qualifies for an FHA Loan in Florida?
FHA loans are designed to be accessible. You may qualify if you:
- Have a credit score as low as 580 (3.5% down) or 500–579 (10% down)
- Have a debt-to-income ratio at or below 57% in most cases
- Are purchasing or refinancing a primary residence
- Have steady, documented employment or income history
- Are a U.S. citizen, permanent resident, or eligible non-citizen
FHA Loan Requirements in Florida
- Minimum down payment: 3.5% with a 580+ credit score
- Mortgage insurance: Upfront MIP (1.75% of loan) + annual MIP
- Loan limits (2026): $524,225 for most Florida counties; higher in high-cost areas like Miami-Dade and Monroe
- Property: Must be your primary residence; meets FHA minimum property standards
- Employment: Two-year history preferred; self-employed borrowers accepted with documentation
Florida-Specific Details
Florida is one of the busiest mortgage markets in the country. From Jacksonville in the north to Miami in the south, our team closes FHA loans across the entire state — including Tampa, Orlando, and Fort Lauderdale. Florida’s competitive housing market rewards buyers who are pre-approved and ready to move fast. At Extreme Loans, our average closing time is 14 days — far faster than the industry average.
Florida does not have a state income tax, which helps borrowers qualify at higher loan amounts. High-cost counties such as Miami-Dade and Monroe County have elevated FHA loan limits, making FHA a viable option even in premium markets.
FHA Streamline Refinance in Florida
Already have an FHA loan? An FHA Streamline Refinance lets you lower your rate or monthly payment with minimal paperwork and no new appraisal required in most cases. Florida homeowners who locked in higher rates can take advantage of today’s market with a streamlined process that closes in as little as two weeks.
- No new income verification required in most cases
- No new home appraisal typically required
- Net tangible benefit required (lower rate or lower payment)
- Must have made at least 6 on-time payments on your current FHA loan
Why Choose Extreme Loans for Your Florida FHA Loan?
- Extremely Honest — No hidden fees, no bait-and-switch. We explain every number before you sign.
- Extremely Fast — We close in an average of 14 days. Our number even says it: 844-CLOSE-FAST.
- Extremely Easy — In-house processing and underwriting mean fewer delays, fewer hoops, and a smoother path to your keys.
- 1,600+ Google reviews from real borrowers across Florida and the country
- Licensed in Florida under NMLS #MBR5056
- Access to FHA, VA, Conventional, Jumbo, and Non-QM programs — all under one roof
Compare us with our Michigan FHA loan page to see the same commitment to speed and transparency we bring to every state.
Frequently Asked Questions — FHA Loans in Florida
What is the minimum credit score for an FHA loan in Florida?
580 for a 3.5% down payment. Borrowers with scores between 500 and 579 may still qualify with a 10% down payment. Extreme Loans works with credit scores starting at 550 in many cases.
How much do I need for a down payment on a Florida FHA loan?
As little as 3.5% of the purchase price with a 580+ credit score. On a $300,000 home, that’s just $10,500 — significantly less than the 5–20% required for most conventional loans.
Are FHA loan limits higher in South Florida?
Yes. Miami-Dade, Broward, and Monroe counties have higher FHA loan limits than the standard Florida floor of $524,225, reflecting the higher cost of housing in those markets. Contact us for the exact limit in your county.
Can I use an FHA loan to buy a condo in Florida?
Yes, provided the condo complex is on the FHA-approved condo list. Many Florida condo developments are FHA-approved; your Extreme Loans Mortgage Banker can quickly check approval status for any building you’re considering.
How long does it take to close an FHA loan in Florida with Extreme Loans?
Our average is 14 days from application to closing — far faster than the industry average of 45–60 days. Your responsiveness with documents is the biggest factor; the faster you submit, the faster we close.
What is FHA mortgage insurance and how long do I pay it?
FHA loans require an upfront mortgage insurance premium (1.75% of the loan, typically rolled into the loan) plus an annual premium paid monthly. For most borrowers putting less than 10% down, MIP continues for the life of the loan — though refinancing into a conventional loan once you reach 20% equity is a common exit strategy.