FHA Loan Limits in Florida
Home loans backed by the Federal Housing Administration (FHA) can help buyers without enough cash for a large down payment and less-than-excellent credit score buy a home in most Florida counties with loan amounts of up to $472,030 for a single-family home.
However, if you’re buying a home in Monroe County – home to Key West and the Florida Keys – FHA high-cost loan limits allow you to borrow up to $874,000.
Florida FHA loan limits by county
| County name | One unit | Two unit | Three unit | Four unit | Median sale price |
|---|---|---|---|---|---|
| ALACHUA | $472,030 | $604,400 | $730,525 | $907,900 | $275,000 |
| BAKER | $526,700 | $674,250 | $815,050 | $1,012,900 | $458,000 |
| BAY | $472,030 | $604,400 | $730,525 | $907,900 | $294,000 |
| BRADFORD | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| BREVARD | $472,030 | $604,400 | $730,525 | $907,900 | $310,000 |
| BROWARD | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| CALHOUN | $472,030 | $604,400 | $730,525 | $907,900 | $94,000 |
| CHARLOTTE | $472,030 | $604,400 | $730,525 | $907,900 | $294,000 |
| CITRUS | $472,030 | $604,400 | $730,525 | $907,900 | $201,000 |
| CLAY | $526,700 | $674,250 | $815,050 | $1,012,900 | $458,000 |
| COLLIER | $672,750 | $861,250 | $1,041,050 | $1,293,750 | $585,000 |
| COLUMBIA | $472,030 | $604,400 | $730,525 | $907,900 | $150,000 |
| DESOTO | $472,030 | $604,400 | $730,525 | $907,900 | $191,000 |
| DIXIE | $472,030 | $604,400 | $730,525 | $907,900 | $90,000 |
| DUVAL | $526,700 | $674,250 | $815,050 | $1,012,900 | $458,000 |
| ESCAMBIA | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| FLAGLER | $472,030 | $604,400 | $730,525 | $907,900 | $328,000 |
| FRANKLIN | $472,030 | $604,400 | $730,525 | $907,900 | $170,000 |
| GADSDEN | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| GILCHRIST | $472,030 | $604,400 | $730,525 | $907,900 | $275,000 |
| GLADES | $472,030 | $604,400 | $730,525 | $907,900 | $165,000 |
| GULF | $472,030 | $604,400 | $730,525 | $907,900 | $255,000 |
| HAMILTON | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| HARDEE | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| HENDRY | $472,030 | $604,400 | $730,525 | $907,900 | $173,000 |
| HERNANDO | $472,030 | $604,400 | $730,525 | $907,900 | $365,000 |
| HIGHLANDS | $472,030 | $604,400 | $730,525 | $907,900 | $180,000 |
| HILLSBOROUGH | $472,030 | $604,400 | $730,525 | $907,900 | $365,000 |
| HOLMES | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| INDIAN RIVER | $472,030 | $604,400 | $730,525 | $907,900 | $335,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $123,000 |
| JEFFERSON | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| LAFAYETTE | $472,030 | $604,400 | $730,525 | $907,900 | $100,000 |
| LAKE | $472,030 | $604,400 | $730,525 | $907,900 | $390,000 |
| LEE | $472,030 | $604,400 | $730,525 | $907,900 | $345,000 |
| LEON | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| LEVY | $472,030 | $604,400 | $730,525 | $907,900 | $275,000 |
| LIBERTY | $472,030 | $604,400 | $730,525 | $907,900 | $78,000 |
| MADISON | $472,030 | $604,400 | $730,525 | $907,900 | $80,000 |
| MANATEE | $506,000 | $647,750 | $783,000 | $973,100 | $440,000 |
| MARION | $472,030 | $604,400 | $730,525 | $907,900 | $240,000 |
| MARTIN | $500,250 | $640,400 | $774,100 | $962,050 | $435,000 |
| MIAMI-DADE | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| MONROE | $874,000 | $1,118,900 | $1,352,450 | $1,680,800 | $760,000 |
| NASSAU | $526,700 | $674,250 | $815,050 | $1,012,900 | $458,000 |
| OKALOOSA | $603,750 | $772,900 | $934,250 | $1,161,050 | $525,000 |
| OKEECHOBEE | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| ORANGE | $472,030 | $604,400 | $730,525 | $907,900 | $390,000 |
| OSCEOLA | $472,030 | $604,400 | $730,525 | $907,900 | $390,000 |
| PALM BEACH | $557,750 | $714,000 | $863,100 | $1,072,600 | $485,000 |
| PASCO | $472,030 | $604,400 | $730,525 | $907,900 | $365,000 |
| PINELLAS | $472,030 | $604,400 | $730,525 | $907,900 | $365,000 |
| POLK | $472,030 | $604,400 | $730,525 | $907,900 | $295,000 |
| PUTNAM | $472,030 | $604,400 | $730,525 | $907,900 | $115,000 |
| SANTA ROSA | $472,030 | $604,400 | $730,525 | $907,900 | $320,000 |
| SARASOTA | $506,000 | $647,750 | $783,000 | $973,100 | $440,000 |
| SEMINOLE | $472,030 | $604,400 | $730,525 | $907,900 | $390,000 |
| ST. JOHNS | $526,700 | $674,250 | $815,050 | $1,012,900 | $458,000 |
| ST. LUCIE | $500,250 | $640,400 | $774,100 | $962,050 | $435,000 |
| SUMTER | $472,030 | $604,400 | $730,525 | $907,900 | $360,000 |
| SUWANNEE | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| TAYLOR | $472,030 | $604,400 | $730,525 | $907,900 | $99,000 |
| UNION | $472,030 | $604,400 | $730,525 | $907,900 | $155,000 |
| VOLUSIA | $472,030 | $604,400 | $730,525 | $907,900 | $328,000 |
| WAKULLA | $472,030 | $604,400 | $730,525 | $907,900 | $229,000 |
| WALTON | $603,750 | $772,900 | $934,250 | $1,161,050 | $525,000 |
| WASHINGTON | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
How are FHA loan limits determined?
The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits each year based on a percentage of the conforming loan limits set by the Federal Housing Financing Agency (FHFA) for conventional mortgages .
The FHA “floor” is 65% of the conforming loan limit, and the maximum “ceiling” limit is 150%. The floor limits typically apply to low-cost areas – any areas above the low-cost threshold are considered high-cost counties. Low-cost county FHA loan limits are capped at $472,030 while high-cost limits are maxed-out at $1,089,300 for one-unit homes. Higher limits are available for two- to four-unit homebuyers.
How to qualify for an FHA loan in Florida
With median home prices topping out at $485,000 for most Florida counties the past year, the $472,030 limit gives you enough borrowing power to buy a home with a minimum down payment, if you meet the basic FHA loan requirements. The high-cost limit of $874,000 gives qualified Monroe County homebuyers enough money to purchase a home at the county’s current median home price of $760,000.
Down payment and credit score: If your credit score is 580 or higher, you may qualify for a minimum down payment of 3.5%. You’ll need a 10% down payment to qualify for an FHA loan with a score of 500. You can check your credit score online.
Debt-to-income (DTI) ratio: Your debt-to-income (DTI ratio) measure shows the lender your monthly debts compared to your income. A DTI of 43% is the guideline for maximum in most cases, but exceptions may be allowed for a higher DTI if you have a high credit score or cash reserves.
Mortgage Insurance: You need two kinds of mortgage insurance for FHA loans: an annual mortgage insurance premium (MIP) and an upfront mortgage insurance premium (UFMIP). MIP costs 0.45% to 1.05% of your loan amount and UFMIP costs 1.75% of your loan amount. The UFMIP is usually rolled into your loan amount, while the annual MIP is added to your monthly payment.
Occupancy: The home you buy with an FHA home loan must be your primary residence for at least a year after purchase.
FHA home appraisal: An FHA appraisal is required if you’re buying a home with an FHA loan. The appraiser analyzes the value of the home and follows a strict set of FHA-approved guidelines to assess the condition of the home.
Buying a multifamily property with an FHA loan
You may qualify to purchase a multifamily home with up to four units using an FHA loan, as long as you live in one of them. You’ll only need a 3.5% down payment and may qualify to use rental income on the units you don’t live in to get approved for your loan. An added bonus: FHA loan limits for multi-unit homes are higher. Below is a snapshot of the low-cost lending limits for two- to four-unit homes:
| Number of units | Low-cost loan limit |
|---|---|
| Two | $604,400 |
| Three | $730,525 |
| Four | $907,900 |
FHA lenders in Florida
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Caliber Home Loans | 3 stars | 620 |
| Fairway Independent Mortgage | 3 stars | 580 |
| PennyMac Mortgage | 5 stars | 580 |
| Truist Mortgage | 4 stars | 580 |