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UpdatedAugust 22, 2026ReviewedAugust 23, 2026Where our FHA figures come from
FHA 203(k) Renovation Loan for Florida homebuyers — 2026 FHA limits and requirements in Florida

FHA 203(k) loans in Florida (2026)

An FHA 203(k) renovation loan in Florida finances the purchase and the repairs in one mortgage, which is how buyers take on Florida's older block homes, storm-damaged properties and dated condos that would not pass a standard FHA appraisal.

Lowest county limit
$541,287
Highest county limit
$990,150
Counties covered
67
Minimum down
3.5%

FHA 203(k) quote in Florida

A licensed loan officer reviews your scenario. Approval decisions are made by the lender.

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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.

Step 1 of 2 — takes about 30 seconds. Step 2 is optional detail you can skip anytime by calling us.

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.

FHA 203(k) in Florida at a glance

  • 2026 Florida one-unit FHA limits run $541,287 to $990,150
  • At the top Florida limit, 3.5% down supports about $1,026,062 with roughly $35,912 down
  • 580 FICO for 3.5% down; 500-579 requires 10% down
  • Florida escrow runs near $709 a month on a $395,000 home (directional)
  • Florida Housing and local county programs can layer behind the FHA first mortgage
  • Licensed: Simply Approved Mortgages LLC arranges residential mortgage loans in Florida

Last reviewed August 23, 2026 against current FHA (HUD 4000.1) guidelines.

FHA 203(k) 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. What you are quoted depends on the file — credit profile, base loan amount, down payment, property type, term and lock period each shift FHA pricing. Run your scenario below and compare real FHA options side by side: note rate, provider APR, points or lender credit, and the payment that goes with each one. The options below are the same live wholesale FHA pricing referenced throughout this FHA 203(k) state page.

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.

How the FHA 203(k) works in Florida

Florida has a deep supply of 1960s-80s housing and a meaningful number of homes with deferred or partly finished storm repairs. Those homes fail a standard FHA appraisal on condition, but they are exactly what the 203(k) exists for: the loan is sized on the after-improved value, and the repair funds are held and released by the lender.

The most valuable Florida use of a 203(k) is a roof. A roof at the end of its life makes a home uninsurable, and an uninsurable home cannot close on any mortgage. Financing the replacement into the loan solves the insurance problem and the appraisal condition at the same time.

Permitting is the discipline that decides whether a Florida 203(k) runs on schedule. Coastal and hurricane-code jurisdictions review roofing, windows, and structural work closely, and unpermitted prior work discovered during the process must be resolved before funds are released.

FHA 203(k) pros and cons for Florida borrowers

Why it works here

  • Roof, HVAC, window and structural work can be financed instead of paid in cash
  • Solves the insurability problem that stops many Florida contracts
  • Still only 3.5% down, calculated on the after-improved value
  • Opens the inventory other FHA buyers have to walk away from

What slows files down

  • Permitting in hurricane-code jurisdictions adds time to the schedule
  • Contractor availability after a storm season can delay draws
  • Unpermitted prior work must be corrected before funds release

What Florida ownership costs add to the payment

FHA sets the loan rules nationally; these are the local costs that decide the real monthly payment and the debt-to-income ratio.

Effective property tax rate
0.71%
Typical annual insurance
$5,700
Monthly escrow (state median home)
$709
Closing convention
Title/escrow state

Transfer / documentary tax: Documentary stamp tax $0.70 per $100 of price ($0.60 in Miami-Dade plus surtax), plus $0.35 per $100 on the note and 0.2% intangible tax on the mortgage.

Most-missed local cost: 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.

Tax and insurance figures are directional reference values derived from U.S. Census Bureau ACS and NAIC published data — not quotes. Loan limits: HUD CHUMS 2026 forward limit file.

FHA 203(k) down payment assistance in Florida

Florida Housing and local county programs

Florida Housing Finance Corporation runs statewide first-mortgage and down payment assistance products that pair with FHA financing, and several counties add their own bond or SHIP-funded assistance. Eligibility, funding availability and terms are set by the administering agency, not by us.

See all DPA options Official program information

FHA 203(k) by Florida market

Each market page carries that county's own 2026 HUD limits, purchase-power math and local underwriting notes.

Miami
FHA 203(k) in Miami-Dade County
2026 one-unit limit $667,000
View market page
Fort Lauderdale
FHA 203(k) in Broward County
2026 one-unit limit $667,000
View market page
West Palm Beach
FHA 203(k) in Palm Beach County
2026 one-unit limit $667,000
View market page
Tampa
FHA 203(k) in Hillsborough County
2026 one-unit limit $541,287
View market page
St. Petersburg
FHA 203(k) in Pinellas County
2026 one-unit limit $541,287
View market page
Orlando
FHA 203(k) in Orange County
2026 one-unit limit $541,287
View market page
Jacksonville
FHA 203(k) in Duval County
2026 one-unit limit $580,750
View market page
Cape Coral & Fort Myers
FHA 203(k) in Lee County
2026 one-unit limit $541,287
View market page
Naples
FHA 203(k) in Collier County
2026 one-unit limit $764,750
View market page
Sarasota
FHA 203(k) in Sarasota County
2026 one-unit limit $547,400
View market page
Lakeland
FHA 203(k) in Polk County
2026 one-unit limit $541,287
View market page
Melbourne & Palm Bay
FHA 203(k) in Brevard County
2026 one-unit limit $541,287
View market page
All Florida FHA loan limitsCounty limit lookupFHA 203(k) program overview

FHA 203(k) in Florida — quick answers

What is the FHA 203(k) loan limit in Florida for 2026?
Florida county limits run from $541,287 to $990,150 for a one-unit home in 2026. The FHA 203(k) program uses the HUD limit for the county the property sits in, not a statewide number.
How much home can I buy with an FHA 203(k) loan in Florida?
At the $990,150 limit, 3.5% down supports a purchase price of roughly $1,026,062 with about $35,912 down. Upfront mortgage insurance of 1.75% ($17,328 at the limit) is normally financed on top of the base loan. These are illustrations, not a quote or an approval.
What credit score do I need for an FHA 203(k) loan in Florida?
FHA sets 580 as the minimum score for 3.5% down and allows 500-579 with 10% down. FHA does not publish a different score requirement for Florida — but lenders apply their own overlays, and a stronger score usually improves the rate you are offered.
What will taxes and insurance add to the payment in Florida?
Using Florida's directional effective property tax rate of 0.71% and a typical annual homeowners premium near $5,700, escrow on a $395,000 home runs roughly $234 a month in taxes plus $475 in insurance — about $709 before mortgage insurance. Actual figures depend on the exact parcel, carrier and exemptions.

FHA 203(k) Florida frequently asked questions

What is the FHA 203(k) loan limit in Florida for 2026?

Florida county limits run from $541,287 to $990,150 for a one-unit home in 2026. The FHA 203(k) program uses the HUD limit for the county the property sits in, not a statewide number.

How much home can I buy with an FHA 203(k) loan in Florida?

At the $990,150 limit, 3.5% down supports a purchase price of roughly $1,026,062 with about $35,912 down. Upfront mortgage insurance of 1.75% ($17,328 at the limit) is normally financed on top of the base loan. These are illustrations, not a quote or an approval.

What credit score do I need for an FHA 203(k) loan in Florida?

FHA sets 580 as the minimum score for 3.5% down and allows 500-579 with 10% down. FHA does not publish a different score requirement for Florida — but lenders apply their own overlays, and a stronger score usually improves the rate you are offered.

What will taxes and insurance add to the payment in Florida?

Using Florida's directional effective property tax rate of 0.71% and a typical annual homeowners premium near $5,700, escrow on a $395,000 home runs roughly $234 a month in taxes plus $475 in insurance — about $709 before mortgage insurance. Actual figures depend on the exact parcel, carrier and exemptions.

Can I use down payment assistance with an FHA 203(k) loan in Florida?

Florida Housing Finance Corporation runs statewide first-mortgage and down payment assistance products that pair with FHA financing, and several counties add their own bond or SHIP-funded assistance. Eligibility, funding availability and terms are set by the administering agency, not by us. Assistance is layered behind the FHA first mortgage and does not change FHA's own underwriting requirements.

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.

What most often complicates an FHA file in Florida?

Insurance availability, roof age, flood zone and condominium project approval are the four items that most often stall a Florida FHA file.

Does the property have to be my primary residence?

Yes. Every FHA forward program, including the FHA 203(k), requires owner occupancy — you must occupy the home as your primary residence, generally within 60 days of closing. Second homes and rentals are not eligible.

Can I buy a condo in Florida with an FHA 203(k) loan?

Only if the project is on HUD's approved condominium list or the unit qualifies for single-unit approval. This matters more in Florida than almost anywhere else because so much reachable inventory is attached. You can search the current list on HUD's condominium lookup.

How long does an FHA 203(k) loan take to close in Florida?

Renovation files run longer than a standard purchase because the scope, bids and any consultant review happen before closing and the repair draws happen after. Build a longer contract timeline than you would on a 203(b).

What documents will I need?

Expect 30 days of pay stubs, two years of W-2s or full tax returns if self-employed, two months of bank statements for every account used, photo ID, and a written explanation for any employment gap. Self-employed borrowers are underwritten on net income after expenses, which is often lower than gross deposits.

Where do these Florida numbers come from?

County loan limits come from HUD's official CHUMS 2026 forward-limit file. Median values are the HUD dataset's reference figures, and the tax and insurance ranges are directional figures derived from Census ACS and NAIC published data. Nothing on this page is a rate quote, a loan offer, or a commitment to lend.

Other FHA programs in Florida

FHA 203(b) in Florida
The standard FHA mortgage — 3.5% down, flexible credit, owne…
FHA Streamline in Florida
Refinance your existing FHA loan with no appraisal and minim…
FHA Cash-Out in Florida
Tap your home equity with an FHA refinance — up to 80% LTV…
HECM in Florida
Convert home equity to cash without a monthly mortgage payme…

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.

Verify our license on NMLS Consumer Access · Full licensing & disclosures

Ready to see what you qualify for?

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

Start My ApprovalCall 877-813-7219

Sources for this page

Program rules and figures on this page are taken from the primary government sources below, not from third-party summaries.

Simply Approved Mortgages is not affiliated with or endorsed by HUD, FHA, or any government agency.

Included with your FHA estimate

Get your FHA Pre-Approval Summary.

Complete the short form and we send back a full FHA breakdown: your county loan limit, the minimum FHA down payment, financed upfront MIP, monthly mortgage insurance, and an estimated payment — plus whether down payment assistance can cover your cash to close.

  • Maximum FHA loan amount for your county
  • Minimum FHA down payment and cash-to-close estimate
  • Upfront and annual MIP included
  • Estimated monthly payment with taxes and insurance
Get my FHA estimate

Takes about 3 minutes · No obligation · Summary emailed and shown on screen

Illustration only, generated from the information you enter. Not a Loan Estimate, pre-qualification, commitment to lend, or approval. Subject to appraisal, credit and income review, FHA guidelines, and final lender approval. Equal Housing Opportunity.

FHA Estimate Summary
Purchase price
$385,000
Down payment (3.5%)
$13,475
Base loan amount
$371,525
Financed UFMIP (1.75%)
$6,502
Est. monthly payment
Shown in your summary

Sample figures for illustration only — not a quote, rate lock, offer of credit or commitment to lend. Simply Approved Mortgages · NMLS #2620881 · Equal Housing Opportunity

Document checklist

What documents you need for this FHA program

This is the set an FHA underwriter typically asks for. Having it ready before you write an offer is the single biggest difference between a two-week and a six-week file.

Identity and residency

  • Government-issued photo ID and Social Security number
  • Two-year residence history with landlord contact where you rented

Assets

  • Two months of statements for every account used for down payment or reserves
  • A signed gift letter plus the donor's source of funds for any gifted money
  • Retirement statements when reserves are drawn from those accounts

Property and credit

  • Fully executed purchase contract with all addenda
  • Homeowners insurance quote, plus flood coverage where required
  • Written explanation for credit events, plus bankruptcy or foreclosure paperwork if applicable

Specific to this scenario

  • Any program-specific documentation, such as a contractor bid on a renovation file
Income documentation

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

The program you choose does not change how your income is documented — how you are paid does. FHA does not apply a different credit score, down payment or county limit to self-employed borrowers — it applies a different documentation standard.

FHA documentation differences between W-2 employed and self-employed borrowers
ItemW-2 employedSelf-employed
History requiredTwo-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 calculatedBase 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 file30 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 closingThe 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 delayUnexplained 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 suggestGet 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.

If you are W-2 employed

  • Pay stubs covering the most recent 30 days
  • W-2 forms for the last two years
  • A verification of employment; HUD Handbook 4000.1 Update 18 tightened the written and electronic VOE rules, so expect the employer record to be verified directly
  • Documentation of bonus, overtime or commission income if you want it counted

If you are self-employed

  • Two years of personal federal tax returns, all schedules
  • Two years of business returns for a partnership, S-corp or C-corp, plus K-1s
  • A year-to-date profit and loss statement and balance sheet
  • Business license, CPA letter or equivalent evidence the business is active

General FHA documentation guidance per HUD Handbook 4000.1, including Update 18 changes to written and electronic verification of employment. Requirements vary by borrower, property, lender and program, and all loans are subject to lender underwriting and approval. Sources: HUD Handbook 4000.1

Run the numbers for Florida

FHA payment, affordability, closing cost and refinance calculators for Florida

Prefilled with the 2026 HUD reference median of $330,000 for Florida, a 0.71% effective property tax rate and a directional $5,700 annual homeowners premium. Change any input — the interest rate is your own assumption, not an offer.

$
%

FHA minimum is 3.5% at 580+ credit.

%

Your assumption — not a quoted rate.

yrs
%
$
Estimated total monthly payment
$2,864
Principal & interest
$2,048
FHA annual MIP
$146
Property tax
$195
Homeowners insurance
$475
Down payment
$11,550
Loan amount incl. financed UFMIP
$324,023
See Today's Rates

Figures are illustrations based on the values you entered — not an offer, rate lock, or commitment to lend. Emailing your scenario sends it to a licensed loan officer in Florida or Colorado.

Estimates for general educational purposes only. Interest rates shown are assumptions you enter, not quoted rates, and nothing here is a rate lock, APR, payment quote, pre-approval, offer or commitment to lend. Results exclude HOA dues, flood or wind policies, mortgage insurance changes, points and lender-specific fees. FHA upfront MIP of 1.75% and annual MIP of 0.55% follow HUD Mortgagee Letter 2023-05 for a 30-year term at 3.5% down. Property tax and insurance inputs are directional state references, not a parcel-level bill. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. Sources: HUD Mortgagee Letter 2023-05 (MIP) · HUD Mortgagee Letter 2025-23 (2026 loan limits) · U.S. Census Bureau ACS · NAIC homeowners insurance · CFPB Closing Disclosure

Taxes, insurance and local expenses

What owning actually costs in Florida

Mortgage pricing moves the payment a little. Property tax and insurance move it a lot, and they are entirely local. These figures are built from the 2026 HUD county dataset for Florida and Florida tax and settlement conventions, reviewed August 23, 2026.

Estimated ownership costs in Florida on a $330,000 home
CostEstimateHow it works here
Property tax$195 / moAbout 0.71% effective on $330,000 — roughly $2,343 a year. Millage is set locally, so verify the parcel's actual bill.
Homeowners insurance$475 / moDirectional $5,700 a year for a single-family owner policy in Florida. Wind, hail and flood may be separate policies.
FHA annual mortgage insurance$146 / mo0.55% of the $318,450 base loan at 3.5% down, 30-year term, per HUD Mortgagee Letter 2023-05.
FHA upfront MIP$5,5731.75% of the base loan, normally financed into the $324,023 total loan amount rather than paid in cash.
State transfer / documentary taxFLDocumentary stamp tax $0.70 per $100 of price ($0.60 in Miami-Dade plus surtax), plus $0.35 per $100 on the note and 0.2% intangible tax on the mortgage.
Settlement conventionTitle/escrow stateA title or escrow company customarily conducts the closing and issues the policy.

The expense buyers here miss most

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.

How this affects the FHA file

Taxes and insurance are part of the qualifying payment, so a $670 escrow in Florida consumes debt-to-income capacity before a single dollar of principal and interest is counted. Underwriting uses the post-closing figures, not the seller's current bill.

Estimates for general education only — not a quote, rate, APR, pre-approval, offer or commitment to lend. Property tax rates are effective rates derived from U.S. Census Bureau ACS data; actual millage is set by county, city, school and special districts. Insurance figures are directional annual premiums, not quotes. Transfer, deed, recordation and mortgage taxes summarise state-level statutes; counties and municipalities frequently add their own. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Sources: U.S. Census Bureau — ACS property tax data · NAIC Homeowners Insurance Report · CFPB — understanding closing costs

Local FHA & housing market updates

Local FHA and housing market updates for Florida

Dated changes from the official sources that actually govern an FHA file here, each one linked to the primary source it came from. Nothing below is a rate quote, an offer of credit, a prediction or advice about when to buy.

  1. Local cost pressureVerified January 1, 2026

    What is moving the payment in Florida: taxes, insurance and settlement costs

    Reported by U.S. Census Bureau: Effective property tax in Florida runs about 0.71% of owner-occupied value, and a directional single-family homeowners premium is around $5,700 a year.

    What it means in Florida (our analysis): In Florida, 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 is customarily a title/escrow state, and documentary stamp tax $0.70 per $100 of price ($0.60 in Miami-Dade plus surtax), plus $0.35 per $100 on the note and 0.2% intangible tax on the mortgage. On this program page it matters because the program requirements above are applied to the local limit and local property costs shown here.

    American Community Survey (ACS) housing cost tables
  2. Down payment assistanceVerified August 12, 2026

    Florida Housing keeps its assistance seconds paired with FHA first mortgages

    Reported by Florida Housing Finance Corporation: Florida Housing Finance Corporation publishes the current terms of its homebuyer assistance seconds, including Florida Assist, the Florida Homeownership Loan Program and Hometown Heroes.

    What it means in Florida (our analysis): Florida buyers pair these seconds with an FHA first mortgage, so the assistance amount, lien position and repayment terms change the FHA qualifying picture here. Program terms are set by the agency and change without notice — confirm current terms on the agency page before relying on them. On this program page it matters because the program requirements above are applied to the local limit and local property costs shown here.

    Florida Housing Finance Corporation — homebuyer programs
  3. Program rulesVerified August 12, 2026

    HUD published HUD Handbook 4000.1 Update 18

    Reported by U.S. Department of Housing and Urban Development: The update changed how lenders handle written and electronic verification of employment, restructured Federal Home Loan Bank set-aside treatment for down payment assistance, and revised HECM life expectancy set-aside requirements.

    What it means in Florida (our analysis): These are national underwriting rules, not local ones: a file on a Florida property is underwritten to the same handbook, so the practical local effect is on how quickly employment can be re-verified before closing here. On this program page it matters because the program requirements above are applied to the local limit and local property costs shown here.

    HUD Single Family Housing Policy Handbook 4000.1
  4. Conforming limitsVerified January 1, 2026

    FHFA's 2026 conforming limits reset the FHA-versus-conventional line

    Reported by Federal Housing Finance Agency: FHFA publishes conforming loan limits each year alongside HUD's FHA limits.

    What it means in Florida (our analysis): In Florida the two limits do not match, so above $990,150 a conventional loan can finance a larger amount than FHA — which is why both programs are worth pricing side by side on a purchase here. On this program page it matters because the program requirements above are applied to the local limit and local property costs shown here.

    FHFA conforming loan limits
  5. FHA loan limitsVerified January 1, 2026

    2026 FHA limits took effect across Florida

    Reported by U.S. Department of Housing and Urban Development: HUD reissued its county-by-county limits for 2026. The highest one-unit limit in Florida is $990,150; lower-cost counties sit at or near the national floor.

    What it means in Florida (our analysis): Check the exact county limit in Florida before writing an offer; the statewide maximum is not the number most counties use. On this program page it matters because the program requirements above are applied to the local limit and local property costs shown here.

    HUD county loan limit file (CHUMS)
Simply Approved Mortgages Expert Insight
Renovation commentary · Last reviewed August 23, 2026

Choose Limited or Standard by scope, not by preference

Limited 203(k) suits cosmetic and non-structural work under the program cap with no consultant required. Structural work, additions, or larger budgets belong on Standard with a HUD consultant. Scoping this correctly at the start prevents a mid-process restart.

Our recommendation

Get the contractor scope in writing before choosing Limited or Standard.

Simply Approved Mortgages · licensed mortgage broker · NMLS #2620881 · Equal Housing Opportunity
Ask Simply AI

Ask SAM anything about FHA loans in Florida

SAM is the Simply Approved Mortgages AI assistant, grounded in HUD Handbook 4000.1 and the 2026 HUD county limit file. It answers general FHA questions instantly. A licensed loan officer reviews every scenario before any terms are confirmed.

Hi — I'm SAM. Ask me about FHA loan limits, credit, mortgage insurance, down payment assistance or what an underwriter will need from you. General education only: I don't quote rates, and nothing I say is an offer or commitment to lend.

General information only — not advice, a quote, or an offer of credit.

Popular on this page

Talk to a licensed loan officer 877-813-7219

Ask Simply AI provides general educational information about FHA loan programs. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

Where to go next

Continue with the FHA topic that matches where you are, or talk to a licensed loan officer about your own numbers.

How FHA loans work

What FHA insurance is and who it fits.

FHA requirements

Credit, income, DTI and property rules.

FHA credit score rules

580 vs 500–579 and what they change.

Down payment & assistance

3.5% minimum, gift funds and DPA options.

Mortgage insurance (MIP)

Upfront and annual MIP, and how long it lasts.

FHA loan limits

County-by-county HUD maximums.

FHA closing costs

What you pay and what a seller can cover.

FHA loan programs

203(b), 203(k), streamline, cash-out and more.

FHA calculators

Payment, affordability, MIP and break-even tools.

First-time buyer guide

Step-by-step from budget to closing.

Start My Approval Contact a licensed loan officer Submitting a request is not an application, approval or commitment to lend.
Down Payment Assistance

The FHA DPA Program

Short on cash to close? Ask about the FHA DPA, offered through Simply Approved Mortgages: 2.5%, 3.5%, or 5% of your loan amount toward your down payment and closing costs, structured as a 10-year repayable second lien at your first-mortgage rate + 2%. FICO 580+, primary residence only — it's an option on every loan program on this site.

How it works

Three tiers. Real money toward your home.

  • 2.5% / 3.5% / 5% of the lesser of purchase price or appraised value
  • Pairs with FHA, Conventional, VA, and USDA first mortgages
  • 10-year repayable second lien — no silent forgivable strings
  • Available to FICO 580+ primary-residence buyers
Full DPA program details
Not available in: New York, Washington, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa. All loans subject to underwriting approval and program guidelines.
Amount calculator & eligibility checker

See how much assistance you may qualify for

Enter a purchase price, pick an assistance tier, and confirm property and residency. Results are illustrative — not a quote or commitment.

Simply Approved Mortgages DPA

DPA amount calculator & eligibility checker

Estimate 3.5% assistance on the lesser of price or appraisal, layered over a 30-year fixed FHA first mortgage.

Estimated DPA
$14,000
3.5% of $400,000
2nd-lien P&I
$174
10-yr · 8.500%

Amount calculator

Assistance tier
Lesser of price or appraisal
$400,000
DPA at 3.5%
$14,000
2nd-lien term
10-year fixed, repayable
2nd-lien rate
8.500%
Monthly P&I
$174/mo

Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear only on your Loan Estimate and Closing Disclosure.

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Figures are illustrations based on the values you entered — not an offer, rate lock, or commitment to lend. Emailing your scenario sends it to a licensed loan officer in Florida or Colorado.

Preliminary self-check only — no credit pulled. Not a quote, lock, offer, or commitment to lend. Simply Approved Mortgages is not affiliated with HUD, FHA, VA, USDA, FHFA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

Our pricing philosophy

Transparency. Simplicity. Consumer Choice.

At Simply Approved Mortgages, we believe borrowers deserve clear information, professional guidance, and access to competitive mortgage solutions.

Our company is built around a straightforward philosophy: provide transparent mortgage guidance, maintain a consistent compensation structure on most transactions, and help borrowers make informed financing decisions based on their individual needs and goals.

For many mortgage transactions, Simply Approved Mortgages typically operates using a lender-paid compensation structure of approximately 1.50%. Actual compensation may vary based on lender requirements, loan program, state regulations, loan amount, and other transaction-specific factors.

We believe transparency helps consumers better understand the mortgage process and make informed decisions when comparing financing options.

Our promise

Mortgage financing should be understandable, transparent, and focused on helping consumers make informed decisions.

Our goal isn't to maximize compensation per transaction. Our goal is to build lifelong client relationships through transparency, service, and competitive mortgage solutions.

Why compensation transparency matters

Understanding all aspects of the financing process

Many borrowers spend significant time comparing interest rates, but may be less familiar with how mortgage companies and loan originators are compensated.

Compensation structures can vary among lenders, mortgage brokers, banks, credit unions, and other mortgage providers. Compensation is only one component of a mortgage transaction and should be evaluated alongside interest rates, APR, lender fees, discount points, closing costs, loan features, and overall loan suitability.

At Simply Approved Mortgages, we believe consumers benefit from understanding all aspects of the financing process before making a decision.

Interactive illustration

See how compensation scales by loan amount

Move the slider to compare a hypothetical 1.50% Simply Approved Mortgages compensation structure with a hypothetical 2.75% used by some other lending options. For educational purposes only.

$400,000
$50,000$2,000,000
Typical market comp at 2.75%$11,000
Simply Approved Mortgages at 1.50%$6,000
Potential closing cost difference
Hypothetical impact on lender compensation only
~$5,000

For illustration only. Figures are hypothetical and not a quote, offer, rate lock, or guarantee of savings. Lender compensation is one component of closing costs; actual loan terms, interest rates, fees, APR, and total costs vary by program, loan amount, credit qualifications, property, occupancy, state, and market conditions.

Illustrative compensation comparison

Comparing a hypothetical 1.50% to a hypothetical 2.75%

The example below compares a hypothetical 1.50% compensation structure used by Simply Approved Mortgages to a hypothetical 2.75% structure used by some other lending options, solely for educational purposes.

Loan AmountSimply 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

These examples are illustrative only and are intended to demonstrate how different compensation percentages may produce different compensation amounts based on loan size.

These examples do not represent borrower fees, interest rates, APR, closing costs, loan terms, pricing, or savings, and should not be interpreted as a guarantee that any borrower will receive lower costs or better loan terms.

Our commitment to borrowers

Our goal is to provide

  • Professional mortgage guidance
  • Transparent communication throughout the loan process
  • Access to a broad range of mortgage programs
  • Competitive financing options based on borrower qualifications
  • A streamlined application and approval experience
  • Support for homebuyers, homeowners, and real estate investors
A team-focused approach

Support for every type of borrower

Whether you're purchasing a home, refinancing an existing mortgage, consolidating debt, or financing an investment property, our team is committed to helping you evaluate available options and make informed decisions.

Compare more than just the interest rate

When evaluating mortgage options, borrowers should consider the complete financing package

  • •Interest Rate
  • •Annual Percentage Rate (APR)
  • •Lender Fees
  • •Discount Points
  • •Closing Costs
  • •Loan Features and Flexibility
  • •Prepayment Terms
  • •Product Eligibility Requirements
  • •Customer Service and Support

The most appropriate mortgage solution depends on each borrower's individual financial circumstances, objectives, qualifications, and preferences.

Important Disclosure: Simply Approved Mortgages LLC typically utilizes a lender-paid compensation structure of approximately 1.50% on many mortgage transactions; however, compensation may vary based on lender requirements, loan program, state law, loan amount, borrower qualifications, and other transaction-specific factors. Compensation is only one component of mortgage pricing and does not, by itself, determine interest rates, APR, lender fees, closing costs, loan terms, or overall borrower costs. The information provided on this page is for general educational and informational purposes only and should not be construed as mortgage advice, a commitment to lend, an offer to extend credit, a rate quote, a loan approval, or a guarantee of savings. All mortgage loans are subject to credit approval, underwriting requirements, property approval, and program eligibility guidelines. Borrowers should carefully review all disclosures, including the Loan Estimate and Closing Disclosure, before proceeding with any mortgage transaction. Simply Approved Mortgages LLC • NMLS #2620881 • Equal Housing Opportunity.

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Simply Approved Mortgages • NMLS #2620881 • Licensed in Colorado and Florida

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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.

Step 1 of 2 — takes about 30 seconds. Step 2 is optional detail you can skip anytime by calling us.

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.

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