Why Choose an FHA Loan in Florida
FHA loans are government-insured mortgages that make buying a home more accessible—especially for first-time buyers and moderate-income families. With easier credit qualifications, lower down payments, and flexible debt-to-income allowances, they help more Floridians achieve homeownership.
Because these loans are backed by the Federal Housing Administration, lenders can offer favorable terms that protect both borrowers and the loan itself. FHA loans are ideal for buyers who need a little extra support getting approved or want to secure a great rate without a perfect credit score.
At Select Home Loans, we simplify the FHA loan process so you can focus on finding your dream home—not the paperwork.
Apply Now
FHA loans are insured by the Federal Housing Administration and offer some of the most accessible underwriting in the market. Lower minimum credit scores, low down payments (3.5%), and flexible debt-to-income guidelines make FHA the right choice for many first-time buyers and households recovering from credit events.
Florida home prices vary widely — from coastal markets like Daytona Beach, Tampa, and Miami to inland areas with much lower price points. FHA loan limits are set by county and are generally generous enough to cover the median home price in most Florida markets.
We process FHA purchases and refinances in-house, including FHA Streamline refinances that don't require an appraisal or income documentation. If you're not sure whether FHA, conventional, or VA is the better fit, we'll run all three side by side at no cost.
FHA officially allows scores as low as 500, but most lenders require 580 for the 3.5% down option. Below 580, expect 10% down and additional overlays.
There's an upfront premium (1.75% of the loan, financed) and a monthly premium (typically 0.55% annualized). Unlike conventional MI, FHA MI generally stays for the life of the loan unless you put 10%+ down.
Yes — once your home has appreciated and you have 20%+ equity, refinancing into a conventional loan eliminates the FHA mortgage insurance. We run the math at no cost.
Many are — the project must be on the FHA-approved list (or eligible for single-unit approval). We check eligibility before you write an offer to avoid surprises.
FHA is owner-occupant only. For investment properties, we have DSCR, conventional investor, and Non-QM programs.
