FHA-Insured Mortgage Options

Explore FHA-insured mortgage options with a licensed broker.

Unlocking the American Dream, one home at a time. Clear, sourced FHA guidance from a licensed mortgage broker — so you can understand the current HUD rules before you decide.

Start My Approval See Today's Rates

3.5%

Min. down payment

580

Min. FICO score

$1,249,125

2026 high-cost ceiling

See how much you qualify for

No obligation. Tell us about your plans and a licensed loan officer reviews what is possible.

Your info

Loan details

Where is the property located? *

Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Full name

Phone

I want to

Are you a US citizen or a foreign national? *

I agree. By checking this box and submitting this form, I provide my express written consent to receive calls and messages from or on behalf of Simply Approved Mortgages LLC (NMLS #2620881) at the telephone number(s) and email address(es) I provide, including for marketing and telemarketing purposes. Communications may be made using live agents, an automatic telephone dialing system or other automated technology, prerecorded or artificial voice messages, AI-generated or AI-assisted voice technology, SMS/MMS text messages, and email, even if my telephone number is listed on a state or federal Do Not Call registry. This includes automated and AI-assisted follow-up about my inquiry (reminders, document requests and updates) and the Simply Approved FHA newsletter with program updates, HUD rule changes and homebuyer guidance. I confirm that I am the subscriber or customary user of the telephone number(s) provided and am authorized to provide this consent. Message and data rates may apply. Message frequency varies. Reply STOP to opt out of text messages or HELP for help, and I can unsubscribe from emails at any time. My consent to receive automated, prerecorded, artificial-voice, AI-generated, or marketing communications is not a condition of purchasing any property, good, or service, applying for a mortgage, or receiving mortgage services or information from Simply Approved Mortgages LLC. I may revoke my consent at any time. All loans are subject to applicable lender underwriting, eligibility requirements, and approval.

Step 1 of 2 — your info is saved when you continue. Step 2 takes about 60 seconds and sharpens your loan officer's review.

Simply Approved Mortgages LLC | NMLS #2620881 — a mortgage broker, not a direct lender. Submitting this form is an inquiry only; it is not an application, quote, pre-approval, approval or commitment to lend. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. See our Privacy Notice.

Quick answer

How does an FHA loan work in 2026?

An FHA loan lets you buy a home with 3.5% down at a 580 FICO score (10% down from 500–579), allows debt-to-income ratios up to 56.9% with compensating factors, and permits the seller to pay up to 6% of the price toward your closing costs. Combined with the FHA down payment assistance second lien, many buyers close with little to nothing out of pocket.

What this means for your mortgage

If you have a 580 score and about 3.5% saved — or none saved and you use the FHA DPA second lien — you are likely closer to buying than you think.

Reviewed by the licensed mortgage team at Simply Approved Mortgages · Last verified August 23, 2026 against HUD Handbook 4000.1

Estimate my FHA payment

TL;DR

FHA loans in 2026: key takeaways

3.5% minimum down payment at 580+ FICO; 10% down from 500–579
2026 FHA floor limit is $541,287 and the high-cost ceiling is $1,249,125 for one unit
Upfront MIP is 1.75% (financeable) and annual MIP is typically 0.55%
Seller can pay up to 6% of the sale price toward closing costs
FHA DPA can cover 2.5%, 3.5%, or 5% of the price as a repayable second lien
Gift funds from family, employers, and eligible agencies are allowed for the full down payment

Licensed mortgage broker

Simply Approved Mortgages LLC · NMLS #2620881

Guidance from a loan officer

We explain FHA options; lenders make all credit decisions

2026 FHA limits

$541,287 floor · $1,249,125 ceiling

Licensed in Colorado and Florida

877-813-7219

FHA Loan Rates for FHA Home Loans

Everything on this page about FHA Home Loans comes back to one question: what does the loan actually price at? There is no single FHA rate: pricing moves with your credit profile, loan size, loan-to-value, property type, term and how long you need the rate held. Price your scenario below to see the live FHA options available to us, with the provider's own APR, points or credit and payment for each.

Snapshot pricing unavailable

No current pricing snapshot — we never show sample rate figures.

Sample scenario: Florida primary residence, 30-year fixed FHA. Pricing is refreshed once every day and can change between refreshes.

Loading the most recent FHA pricing snapshot…

Snapshot pricing is an example for the sample scenario described above. It is not a quote, an application, a pre-approval, a rate lock, an offer of credit or a commitment to lend, and it is not personalized to you.

APR is supplied by our pricing provider for the exact scenario priced. Other lender or third-party charges listed separately may not be reflected, and the final APR can change. Your final mortgage disclosures control.

A lender credit reduces eligible closing costs only. It cannot exceed those costs and is never cash back to the borrower.

Simply Approved Mortgages LLC · NMLS #2620881 · 877-813-7219 · Equal Housing Opportunity

Rates and payments shown are illustrations based on the assumptions stated with them, are not an offer, quote, rate lock or commitment to lend, and change with market conditions and your own credit, loan amount, loan-to-value, occupancy, property type, points and lock period. Interest rate and Annual Percentage Rate (APR) are different figures and are labeled separately. Availability is subject to lender underwriting and approval.

Simply Approved Mortgages LLC is not a government agency and is not affiliated with, approved by, or acting on behalf of HUD, FHA, the VA, USDA, or the federal government.

Get my own FHA pricing

The three cards above are examples from the latest daily snapshot. Enter your own purchase price, down payment, credit score and location to see every eligible FHA option for your scenario, priced right now.

FHA Loan Programs

Every FHA program. One lender.

The FHA insures five core mortgage programs through HUD. We originate all of them in-house — from the standard 203(b) purchase loan to the 203(k) renovation, Streamline refinance, Cash-Out refinance, and HECM reverse mortgage for borrowers 62+.

FHA 203(b)

FHA 203(b) Standard Home Loan

The standard FHA mortgage — 3.5% down, flexible credit, owner-occupied homes

3.5% minimum down payment (FICO 580+)
Fixed 15-, 20-, 25-, or 30-year terms (or ARM)
1-to-4-unit primary residences

Learn more

FHA 203(k)

FHA 203(k) Renovation Loan

Buy a fixer-upper and roll renovation costs into one mortgage

Combines purchase + renovation in one loan
3.5% down on the total project cost
Limited 203(k): up to $75,000 in repairs, non-structural

Learn more

FHA Streamline

FHA Streamline Refinance

Refinance your existing FHA loan with no appraisal and minimal paperwork

No appraisal required
No income or employment verification (in most cases)
Closing costs can be rolled into the loan or paid via a 'no-cost' refinance

Learn more

FHA Cash-Out

FHA Cash-Out Refinance

Tap your home equity with an FHA refinance — up to 80% LTV

Borrow up to 80% of your home's appraised value
Cash out any amount above what you owe + closing costs
Available even if your current loan isn't FHA

Learn more

HECM

FHA HECM Reverse Mortgage

Convert home equity to cash without a monthly mortgage payment — for homeowners 62 and older

No monthly mortgage payment (you still pay taxes, insurance, and upkeep)
Choose lump sum, monthly payments, line of credit, or a combination
Non-recourse loan — you (or your heirs) never owe more than the home is worth

Learn more

Why FHA Loans Work

Designed for real-world borrowers.

FHA loans exist because conventional mortgages don't. The Federal Housing Administration insures lenders against loss — so we can approve borrowers with lower credit, smaller down payments, and tighter budgets at rates the rest of the market can't match.

Lower down payment

3.5% with a 580 FICO. 10% with a 500–579 FICO. Down payment can be 100% gifted from family.

Flexible credit rules

Past bankruptcy or foreclosure? You can re-qualify in as little as 1–3 years with re-established credit.

Assumable mortgage

When you sell, a qualified buyer can take over your existing FHA rate. That's a major advantage when rates rise.

FHA Calculators

Run your real numbers before you apply.

Seven calculators built on published HUD formulas and the 2026 county limits — not generic mortgage math. Every input updates instantly, and nothing is gated behind a form.

FHA Payment Calculator

Full PITI including upfront and annual MIP.

MIP Calculator

What mortgage insurance costs and when it drops off.

Affordability & DTI

The price range your income actually supports.

Closing Cost Estimator

Line-by-line cash to close, seller credits included.

FHA vs Conventional

Side-by-side payments over the life of the loan.

Credit Score by Program

Minimum scores for FHA, VA, USDA and conventional.

See all calculators

Down Payment Assistance

You may not need the 3.5% at all.

Down payment assistance can be structured four different ways, and the right one depends on your credit, your income, and how long you plan to stay. Here is how each works — including the version that is a true grant you never repay.

Repayable second — 10-year term

A second mortgage that funds your down payment and closing costs, repaid alongside your first mortgage over 10 years.

Amounts: 2.5%, 3.5%, or 5% of the lesser of purchase price or appraised value
Repayment: Monthly payments for 10 years at your first-mortgage rate plus 2%.
Min. FICO: 580
Income cap: None

Repayable second — 15-year term

The same idea stretched over 15 years, which lowers the monthly cost of the assistance and allows a temporary rate buydown.

Amounts: 3.5% (standard or high balance) or 5% (standard limits, FHA only)
Repayment: Monthly payments for 15 years at your first-mortgage rate plus 2%.
Min. FICO: 640
Income cap: None

Forgivable second — 0%, no payment

A silent second mortgage with no interest and no monthly payment, forgiven entirely once you have made your first-mortgage payments on time.

Amounts: 3.5% of the lesser of purchase price or appraised value
Repayment: No monthly payment and 0% interest. Forgiven at your request after 36 or 60 consecutive on-time first-mortgage payments, depending on the program.
Min. FICO: 640
Income cap: Qualifying income at or below 160% of the area or state median income

Grant — never repaid

A true grant toward down payment and closing costs. There is no second lien and no repayment.

Amounts: 2% or 3.5% on FHA
Repayment: None. There is no lien and nothing to pay back, unless the loan is paid off within the first six months of payments.
Min. FICO: 640
Income cap: At or below 160% of the state or county median income, regardless of family size

Check your DPA eligibility

FHA Loans By State

2026 FHA loan limits by state.

FHA loan limits are set county-by-county by HUD. We track every limit and update them annually. Pick a featured state below, or see the full directory.

See all states Look up any of the 3,235 counties How HUD sets the limits

In-Depth FHA Guides

The rules nobody explains until you're already under contract.

Appraisal repairs, condo approval, gift-fund paperwork, self-employed income, waiting periods after a bankruptcy — each guide walks one topic all the way to the HUD handbook rule behind it.

FHA Appraisal Requirements 2026 — Rules, Repairs & Timeline

What an FHA appraiser inspects, the minimum property requirements that trigger repairs, how long an FHA appraisal is valid, and how to challenge a low value.

FHA Condo Approval 2026 — Rules & Single-Unit Loans

How to check whether a condo is FHA-approved, what a project must satisfy to qualify, and how Single-Unit Approval lets you buy in an unapproved building.

FHA 203(k) Consultant — When You Need One, Fees & Process

What a HUD 203(k) consultant does, when one is required, the customary fee schedule, and how the work write-up and draw inspections actually run.

FHA Loan After Bankruptcy — Waiting Periods 2026

Exact FHA seasoning requirements after Chapter 7, Chapter 13, foreclosure, deed-in-lieu, and short sale — plus the extenuating-circumstances exceptions.

FHA Gift Funds Rules 2026 — Donors & Documents

FHA allows 100% of the down payment to be gifted. Here are the acceptable donors, the prohibited ones, the gift-letter requirements, and the paper trail underwriting demands.

FHA Loan With 1099, Gig & Contract Income — 2026 Rules

How FHA underwriting treats 1099 contractor, rideshare, delivery, freelance and platform income — the history required, how the average is calculated, and the documents that get a gig file approved.

Browse all guides

FHA Knowledge Hub

The latest FHA articles.

Plain-English, fact-checked guides written by licensed loan officers. Every number ties back to a HUD source.

Eligibility & Qualification5 min read

FHA Debt-to-Income Limits and What Counts as Income

Learn how HUD evaluates debt-to-income ratios and which sources of stable income qualify for an FHA purchase loan in Florida or Colorado.

Costs & Fees5 min read

FHA Mortgage Insurance Explained: Upfront and Annual MIP

Explore how FHA mortgage insurance premiums are calculated under HUD rules, how upfront and annual MIP operate, and how to evaluate overall borrowing costs.

Credit & Qualifying4 min read

FHA Down Payment at 580 vs 500 Credit Scores

Learn how credit scores of 580 and 500 determine whether you need 3.5% or 10% down on an FHA loan under HUD rules in Florida and Colorado.

FHA Basics6 min read

What an FHA Loan Actually Costs in Florida and Colorado

Review complete FHA loan costs in Florida and Colorado, from the 3.5% down payment and MIP to title fees, state taxes, and monthly escrow requirements.

Costs & Fees5 min read

FHA Loan Limits and Mortgage Insurance Costs

Understand how FHA loan limits and mortgage insurance premiums (UFMIP and annual MIP) interact to define your total FHA loan costs, helping you budget for your home purchase. Get started.

Rates & Limits4 min read

How Florida County FHA Loan Limits Are Set

Discover how Florida FHA loan limits are set for each county and where to reliably find the specific limits for your area to plan your home purchase or refinance. Understand the impact on your eligibility.

Read all FHA articles

Common Questions

FHA loan questions, answered.

The most common questions about FHA loans — answered with HUD-sourced facts.

What is an FHA loan?+

An FHA loan is a mortgage insured by the Federal Housing Administration. The FHA does not lend money — it insures loans made by FHA-approved lenders. This insurance lets lenders offer lower down payments (as little as 3.5%) and more flexible credit requirements than conventional mortgages.

What credit score do I need for an FHA loan in 2026?+

FHA's official minimum is 500 with 10% down, or 580 with 3.5% down. In practice, most lenders require a 580 FICO at minimum, and many require 620. Simply Approved Mortgages can work with scores as low as 580 with strong compensating factors.

How much down payment do I need for an FHA loan?+

3.5% of the purchase price with a FICO of 580 or higher. 10% down if your FICO is between 500 and 579. The full down payment can come from a gift, a grant, or a down payment assistance program.

What are the 2026 FHA loan limits?+

The 2026 FHA loan limit for a one-unit home ranges from $541,287 (low-cost counties) to $1,249,125 (high-cost counties). Hawaii, Alaska, Guam, and the U.S. Virgin Islands have a special exception ceiling of $1,873,625. Multi-unit limits are higher.

Do FHA loans have mortgage insurance?+

Yes. There's a 1.75% upfront MIP (financed into the loan) plus an annual MIP that's paid monthly. On a loan with less than 10% down, MIP lasts the life of the loan. To remove it, you refinance into a conventional loan once you have 20% equity.

Can I use an FHA loan for an investment property?+

No — FHA loans are for owner-occupied primary residences only. However, you can use an FHA loan for a 2-to-4-unit property as long as you live in one of the units. This is one of the most common ways to get started in real estate investing.

What is the maximum debt-to-income ratio for an FHA loan?+

FHA's standard cap is 43% DTI. With compensating factors — strong credit, cash reserves, larger down payment — borrowers can sometimes go up to 50% or 57% DTI with manual underwriting.

Can I get an FHA loan after a bankruptcy or foreclosure?+

Yes. The waiting periods are: 2 years after a Chapter 7 discharge, 1 year into a Chapter 13 (with court approval and on-time payments), 3 years after a foreclosure, and 3 years after a short sale. Re-established credit is required.

See all FHA FAQs

Ready to see what you qualify for?

Talk with a licensed FHA broker about your scenario. Licensed in Florida and Colorado.

Start My Approval Call 877-813-7219

Purchase price	$425,000
FHA down payment at 3.5%	$14,875
Base loan amount	$410,125
Upfront MIP at 1.75%, financed	$7,177
Total FHA loan amount	$417,302
Conventional 20% down for comparison	$85,000

Item	W-2 employed	Self-employed
History required	Two-year employment history, with gaps explained. A job change inside the same field is usually fine.	Generally two years of self-employment. A shorter history can sometimes be considered when there is documented prior experience in the same line of work.
How income is calculated	Base pay from pay stubs and W-2s. Bonus, overtime and commission generally need a two-year history to be averaged in.	Net income from tax returns, averaged and adjusted for allowable add-backs such as depreciation. Write-offs that reduce taxable income also reduce qualifying income.
Documents that open the file	30 days of pay stubs, two years of W-2s, and a verification of employment.	Two years of personal and business returns, year-to-date P&L and balance sheet, and evidence the business is still operating.
Verification at closing	The employer is re-verified shortly before closing; do not change jobs mid-process without telling your loan officer.	Continued existence of the business is re-verified close to closing, typically through a third-party or licensing check.
Most common delay	Unexplained gaps, a new job with variable pay, or a VOE the employer never returns.	A declining year over year, or a large deduction that removes the very income needed to qualify.
What we suggest	Get the VOE moving on day one — it is the item most often outstanding at the end.	Have your accountant produce the year-to-date P&L before you shop, so qualifying income is known before you write an offer.

Cost	Estimate	How it works here
Property tax	$311 / mo	About 0.90% effective on $415,000 — roughly $3,735 a year. Millage is set locally, so verify the parcel's actual bill.
Homeowners insurance	$192 / mo	Directional $2,300 a year for a single-family owner policy in the U.S.. Wind, hail and flood may be separate policies.
FHA annual mortgage insurance	$184 / mo	0.55% of the $400,475 base loan at 3.5% down, 30-year term, per HUD Mortgagee Letter 2023-05.
FHA upfront MIP	$7,008	1.75% of the base loan, normally financed into the $407,483 total loan amount rather than paid in cash.
State transfer / documentary tax	Varies	Transfer, deed, recordation and mortgage taxes are set state by state — several states charge none at all.
Settlement convention	Title/escrow state	A title or escrow company customarily conducts the closing and issues the policy.

Loan Amount	Simply Approved Mortgages (1.50%)	Other lending options (2.75%)	Difference
$250,000	$3,750	$6,875	$3,125
$350,000	$5,250	$9,625	$4,375
$500,000	$7,500	$13,750	$6,250
$750,000	$11,250	$20,625	$9,375
$1,000,000	$15,000	$27,500	$12,500

Explore FHA-insured mortgage options with a licensed broker.

See how much you qualify for

How does an FHA loan work in 2026?

FHA loans in 2026: key takeaways

FHA Loan Rates for FHA Home Loans

Get my own FHA pricing

Every FHA program. One lender.

FHA 203(b) Standard Home Loan

FHA 203(k) Renovation Loan

FHA Streamline Refinance

FHA Cash-Out Refinance

FHA HECM Reverse Mortgage

Designed for real-world borrowers.

Lower down payment

Flexible credit rules

Assumable mortgage

Run your real numbers before you apply.

You may not need the 3.5% at all.

Repayable second — 10-year term

Repayable second — 15-year term

Forgivable second — 0%, no payment

Grant — never repaid

2026 FHA loan limits by state.

The rules nobody explains until you're already under contract.

FHA Appraisal Requirements 2026 — Rules, Repairs & Timeline

FHA Condo Approval 2026 — Rules & Single-Unit Loans

FHA 203(k) Consultant — When You Need One, Fees & Process

FHA Loan After Bankruptcy — Waiting Periods 2026

FHA Gift Funds Rules 2026 — Donors & Documents

FHA Loan With 1099, Gig & Contract Income — 2026 Rules

The latest FHA articles.

FHA Debt-to-Income Limits and What Counts as Income

FHA Mortgage Insurance Explained: Upfront and Annual MIP

FHA Down Payment at 580 vs 500 Credit Scores

What an FHA Loan Actually Costs in Florida and Colorado

FHA Loan Limits and Mortgage Insurance Costs

How Florida County FHA Loan Limits Are Set

FHA loan questions, answered.

Ready to see what you qualify for?

How to get an FHA loan, step by step

Get pre-approved

Check your county limit

Line up your down payment

Go under contract

Appraisal and underwriting

Close

Documents you need for an FHA loan

What we need on day one

Before the pre-approval letter goes out

Once you're under contract

Only if it applies to you

Quick answers

Get your FHA Pre-Approval Summary.

Pros and cons of an FHA loan

What works in your favor

What to plan around

A 3.5%-down FHA purchase, start to finish

Self-employed vs. W-2 employed: what it means for your FHA loan

If you are W-2 employed

If you are self-employed

FHA payment, affordability, closing cost and refinance calculators for the United States

What owning actually costs in the United States

The expense buyers here miss most

How this affects the FHA file

Cash-out, HELOC, debt consolidation and investment equity in the United States

Cash-out refinance

Why it can work

What it costs you

HELOC or second lien instead

Why it can work

What it costs you

Consolidating higher-cost debt

Why it can work

What it costs you

Using equity toward an investment property

Why it can work

What it costs you

Start with the pre-approval, not the property

Ask SAM anything about FHA loans in the United States

Popular on this page