Limits & Costs
2026 FHA Loan Limits: How High Can You Go in Your County?
FHA loan limits rose for 2026, with a floor of $541,287 and a ceiling of $1,249,125. Here's how to find your limit and why it matters.
December 12, 2025 · 6 min read
First-time home buyer guide for Florida
Quick answer — First-time home buyer in Florida
A first-time buyer in Florida can use an FHA loan with 3.5% down and a 580 minimum score. The 2026 one-unit limit here is $990,150, which supports a purchase price of roughly $1,026,062 — and against a HUD reference median value of $395,000, most of this market is within FHA reach.
Max purchase price at 3.5% down
$1,026,062
Minimum down payment
$35,912
HUD median value
$395,000
Monthly escrow (directional)
$709
Pre-qualify in Florida
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Loan detailsFirst-time home buyer in Florida at a glance
- 3.5% down with a 580 score; 10% down at 500-579
- 2026 one-unit limit: $990,150 (max price about $1,026,062)
- HUD reference median value here: $395,000
- Directional escrow at that value: about $709 a month
- Upfront MIP of 1.75% ($17,328 at the limit) is normally financed
- Florida Housing and local county programs may cover part of the down payment
Last reviewed August 23, 2026 against current FHA (HUD 4000.1) guidelines.
Reviewed by the licensed mortgage team at Simply Approved Mortgages (NMLS #2620881) on August 23, 2026 against HUD Handbook 4000.1 and the program administrator’s published guidelines. See our editorial policy.
What first-time buyers can realistically buy in Florida
The FHA limit caps the loan, not the price. At the $990,150 one-unit limit, 3.5% down supports about $1,026,062 in price with roughly $35,912 down. Limits across Florida range from $541,287 to $990,150, so your buying power changes by county.
You do not have to be a literal first-time buyer to use FHA — the program is open to repeat buyers too. "First-time buyer" matters for assistance programs and for some tax treatment, not for FHA eligibility.
Pros and cons of FHA for a Florida first-time buyer
Pros: 3.5% down, a 580 score floor, more flexible debt-to-income treatment than most conventional programs, gift funds allowed for the entire down payment, assumable by a future qualified buyer, and the ability to layer Florida Housing and local county programs.
Cons: upfront MIP of 1.75% financed into the loan and annual MIP that, at 3.5% down, stays for the life of the loan; the property must meet FHA minimum property standards; and in competitive situations some sellers still prefer conventional offers. In Florida, condo project approval narrows the eligible inventory further.
Employed vs self-employed in Florida
W-2 borrowers document income with 30 days of pay stubs and two years of W-2s. Underwriting generally uses base pay plus a two-year average of variable pay.
Self-employed borrowers are underwritten on two years of filed returns, averaged after expenses. Gross deposits are not income for underwriting. If the second year is lower than the first, the lower figure is usually used. Plan for the extra documentation time — it is the most common reason a self-employed file closes late.
Local costs a first-time buyer should budget in Florida
On a $395,000 home, directional escrow runs about $234 a month in property tax and $475 a month in insurance — roughly $709 before mortgage insurance. Wind/hurricane and flood are usually separate policies, and the Save Our Homes cap resets on sale — budget the post-closing tax bill, not the seller's.
Florida charges documentary stamp tax on the deed and on the note plus an intangible tax on the mortgage, so the recording line on a Florida Loan Estimate is larger than in most states, and Miami-Dade uses its own stamp and surtax convention.
Documents to gather before you shop
Thirty days of pay stubs, two years of W-2s or full tax returns, two months of statements for every account used, photo ID, and explanations for any credit or employment gaps. Have the gift letter ready if a family member is helping.
Getting these in early is what turns a pre-qualification into a credible pre-approval letter that a Florida listing agent will take seriously.
2026 FHA figures for Florida
Every figure below is HUD data for this exact place, or arithmetic on it.
One-unit FHA limit
$990,150
Max price at 3.5% down
$1,026,062
Minimum down payment
$35,912
HUD reference median value
$395,000
Source: HUD CHUMS 2026 forward limit file. Tax and insurance figures are directional values derived from U.S. Census Bureau ACS and NAIC published data. Illustrations only — not a rate quote, an approval, or a commitment to lend.
FHA First-time home buyer Rates in Florida
Simply Approved Mortgages arranges FHA loans on Florida primary residences, and the pricing below is live wholesale FHA pricing available to us for Florida scenarios. FHA pricing is set per scenario, so your credit profile, base loan amount, loan-to-value, property type, term and lock period all move the number you actually get. Use the pricing form below to see live FHA options for your file, including provider APR and whether each option costs points or returns a lender credit. The options below are the same live wholesale FHA pricing referenced throughout this First-time home buyer guide.
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 business 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.
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.
First-time home buyer in Florida — quick answers
- What is the 2026 FHA loan limit in Florida?
- Florida one-unit limits run from $541,287 to $990,150 for 2026. The limit that applies is the one for the county the property sits in, not a statewide figure.
- How much do I need to buy a home in Florida?
- Plan on 3.5% of the price as the minimum down payment — about $13,825 at the HUD reference median value of $395,000 — plus closing costs and prepaid escrow. Seller credits up to 6%, lender credits and eligible gift funds can offset the closing cost side.
- What credit score does a first-time buyer need in Florida?
- FHA sets 580 for 3.5% down and allows 500-579 with 10% down. FHA publishes no Florida-specific score requirement, but individual lenders apply overlays, and a higher score generally improves pricing.
- Do I have to be a first-time buyer to use an FHA loan?
- No. FHA is available to repeat buyers as well. The "first-time buyer" label matters for down payment assistance and some state programs, not for FHA eligibility itself.
First-time home buyer in Florida — frequently asked questions
What is the 2026 FHA loan limit in Florida?
Florida one-unit limits run from $541,287 to $990,150 for 2026. The limit that applies is the one for the county the property sits in, not a statewide figure.
How much do I need to buy a home in Florida?
Plan on 3.5% of the price as the minimum down payment — about $13,825 at the HUD reference median value of $395,000 — plus closing costs and prepaid escrow. Seller credits up to 6%, lender credits and eligible gift funds can offset the closing cost side.
What credit score does a first-time buyer need in Florida?
FHA sets 580 for 3.5% down and allows 500-579 with 10% down. FHA publishes no Florida-specific score requirement, but individual lenders apply overlays, and a higher score generally improves pricing.
Do I have to be a first-time buyer to use an FHA loan?
No. FHA is available to repeat buyers as well. The "first-time buyer" label matters for down payment assistance and some state programs, not for FHA eligibility itself.
What assistance can a first-time buyer in Florida use?
First-time buyers in Florida generally start with Florida Housing and local county programs, layered behind an FHA first mortgage as a subordinate lien. The agency — not the lender and not us — sets the income and price caps, the repayment or forgiveness terms and the homebuyer-education requirement, and funding can run out mid-year.
How much will the monthly payment be in Florida?
Principal and interest depend on the rate you are actually offered, so we do not publish a payment here. What is local is the escrow: on a $395,000 home in Florida, taxes and insurance run about $709 a month directionally, and FHA annual mortgage insurance is added on top.
Can I buy a condo as a first-time buyer here?
Only if the project is on HUD's approved list or the unit qualifies for single-unit approval. Florida's attached inventory makes this the single most common obstacle for entry-level FHA buyers.
What is FHA mortgage insurance and does it ever come off?
FHA charges 1.75% upfront (normally financed) plus an annual premium collected monthly. At the 3.5% minimum down payment on a 30-year loan, the annual premium remains for the life of the loan; the usual way to remove it is to refinance out of FHA once you have enough equity.
How long does it take to close in Florida?
A clean file commonly runs a 30-45 day contract timeline. Appraisal scheduling, binding insurance and — for attached homes — condominium documentation are the items that most often move the date.
Does the home have to be my primary residence?
Yes. Every FHA forward program requires owner occupancy — you must occupy the home as your primary residence, generally within 60 days of closing. Second homes and investment properties are not eligible for FHA financing.
What documents will a Florida borrower need?
Thirty days of pay stubs, two years of W-2s (or two years of full tax returns if you are self-employed), two months of statements for every account used for funds, photo ID, and a written explanation for any employment gap. Self-employed income is underwritten on net income after expenses, which is usually lower than gross deposits.
How is self-employed income treated compared to W-2 income?
W-2 income is documented with pay stubs and W-2s and is usually taken at face value. Self-employed income is averaged from two years of filed returns after business expenses and depreciation adjustments, and a declining trend is generally used at the lower figure. Two borrowers with the same deposits can qualify very differently for this reason.
Is Simply Approved Mortgages licensed in Florida?
Yes. Simply Approved Mortgages LLC (NMLS #2620881) is licensed to arrange residential mortgage loans in Florida and Colorado, including Florida. We are a mortgage broker, not a direct lender, and all loans are subject to lender underwriting and approval.
Where do the Florida figures on this page come from?
County loan limits come from HUD's official CHUMS 2026 forward-limit file. Median values are the HUD dataset's reference figures; property tax and insurance figures are directional values derived from U.S. Census Bureau ACS and NAIC published data. Nothing here is a rate quote, a loan offer, or a commitment to lend.
Florida markets we serve
First-time home buyer in MiamiFirst-time home buyer in Fort LauderdaleFirst-time home buyer in West Palm BeachFirst-time home buyer in TampaFirst-time home buyer in St. PetersburgFirst-time home buyer in OrlandoFirst-time home buyer in JacksonvilleFirst-time home buyer in Cape Coral & Fort MyersFirst-time home buyer in NaplesFirst-time home buyer in SarasotaFirst-time home buyer in LakelandFirst-time home buyer in Melbourne & Palm Bay
FHA programs available in Florida
Who you are working with
Simply Approved Mortgages LLC | NMLS #2620881
Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration
Florida advertising disclosure (Chapter 494, Florida Statutes): Simply Approved Mortgages LLC, Florida Mortgage Broker License #MBR7685, NMLS #2620881, is a licensed Florida mortgage broker regulated by the Florida Office of Financial Regulation and is not a lender. Any rate, payment, down payment or down payment assistance figure shown on this page is an illustrative estimate for educational purposes only — it is not a quote, rate lock, offer or commitment to lend, and it is not an advertisement of specific credit terms available to any particular borrower. Down payment assistance is a third-party program subject to its own eligibility, income, property and availability requirements. All loans are subject to lender underwriting and approval. Simply Approved Mortgages LLC is not affiliated with, approved by or endorsed by HUD, FHA or any government agency. Equal Housing Opportunity.
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