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2023 Florida FHA Loan Requirements

Florida FHA Loan | Requirements | 2023 FHA Loan Limits

FHA loans in Florida brings to you an amazing opportunity to buy your dream home in Florida.  The FHA (Federal Housing Administration) is created with prime objective to make home buying easier for an average American. These loans have gained quite high popularity due to their nature, lower down payments, and lenient eligibility criterion , making it easily qualifiable.

Florida FHA Loan Requirements

Below mentioned is a list of the most crucial yet basic requirements to be eligible for an FHA loan in Florida.  If you need any help in this regard or wish to check your eligibility, we can help. Request a call back from a reliable FHA lender under our request a free consultation scheme.

  • Credit Score– Borrowers with credit score of 580 and higher qualify for the 3.5% down payment under the FHA loan scheme. While, those with a credit score range of 500-579, qualify for a 10% downpayment under the FHA loan.
  • Job History – Borrowers need to provide the proof of employment of consistent 2 years to gain eligibility of FHA loans. However, for those who have changed their jobs, a consistent employment and income record needs to be produced.
  • Financial Statements– Borrowers need to produce valid financial statements (2 most recent) along with the pay stubs, and their tax returns for the lenders to validate their eligibility.
  • Debt-to-Income– Borrowers with debt-to-income ratio higher than 43% are not eligible to qualify under the FHA loan system.  However, under special “compensating factors” only, borrowers might qualify even with higher debt levels. These include- substantial money in savings, consistent job history, or good credit scores.
  • Primary Residence– Borrowers willing to qualify under FHA loans must intend to buy their primary residence, only failing which their eligibility might get detained. None of the FHA loans substantiate for purchase of an investment property, second home, or vacation home.
  • Mortgage Insurance– As a borrower, one must be aware of the two types of mortgage insurances associated with FHA loans, i.e., the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium). It is important to back your FHA loans under any of these. Use this FHA loan calculator to get an estimate of your financial obligations right from the monthly payments to the mortgage insurance costs.
  • FHA Loan Limits– FHA loans hold maximum lending limits, based on the county level and region. Before applying, one needs to take a look at the FHA loan limits for all counties in Florida as given below.

Would you like to check your eligibility for an FHA loan?  Our experts can help you with the same and add to getting the most reliable mortgage lender, offering best rated FHA loans in Florida.  To get a call back in this regard, request a free consultation.

2023 Florida FHA Loan Limits

Below are the 2023 FHA loan limits for every county in Florida:

County Single Family 2 Family 3 Family 4 Family
ALACHUA  $472,030  $604,400  $730,525  $907,900
BAKER  $526,700  $674,250  $815,050  $1,012,900
BAY  $472,030  $604,400  $730,525  $907,900
BRADFORD  $472,030  $604,400  $730,525  $907,900
BREVARD  $472,030  $604,400  $730,525  $907,900
BROWARD  $557,750  $714,000  $863,100  $1,072,600
CALHOUN  $472,030  $604,400  $730,525  $907,900
CHARLOTTE  $472,030  $604,400  $730,525  $907,900
CITRUS  $472,030  $604,400  $730,525  $907,900
CLAY  $526,700  $674,250  $815,050  $1,012,900
COLLIER  $672,750  $861,250  $1,041,050  $1,293,750
COLUMBIA  $472,030  $604,400  $730,525  $907,900
DESOTO  $472,030  $604,400  $730,525  $907,900
DIXIE  $472,030  $604,400  $730,525  $907,900
DUVAL  $526,700  $674,250  $815,050  $1,012,900
ESCAMBIA  $472,030  $604,400  $730,525  $907,900
FLAGLER  $472,030  $604,400  $730,525  $907,900
FRANKLIN  $472,030  $604,400  $730,525  $907,900
GADSDEN  $472,030  $604,400  $730,525  $907,900
GILCHRIST  $472,030  $604,400  $730,525  $907,900
GLADES  $472,030  $604,400  $730,525  $907,900
GULF  $472,030  $604,400  $730,525  $907,900
HAMILTON  $472,030  $604,400  $730,525  $907,900
HARDEE  $472,030  $604,400  $730,525  $907,900
HENDRY  $472,030  $604,400  $730,525  $907,900
HERNANDO  $472,030  $604,400  $730,525  $907,900
HIGHLANDS  $472,030  $604,400  $730,525  $907,900
HILLSBOROUGH  $472,030  $604,400  $730,525  $907,900
HOLMES  $472,030  $604,400  $730,525  $907,900
INDIAN RIVER  $472,030  $604,400  $730,525  $907,900
JACKSON  $472,030  $604,400  $730,525  $907,900
JEFFERSON  $472,030  $604,400  $730,525  $907,900
LAFAYETTE  $472,030  $604,400  $730,525  $907,900
LAKE  $472,030  $604,400  $730,525  $907,900
LEE  $472,030  $604,400  $730,525  $907,900
LEON  $472,030  $604,400  $730,525  $907,900
LEVY  $472,030  $604,400  $730,525  $907,900
LIBERTY  $472,030  $604,400  $730,525  $907,900
MADISON  $472,030  $604,400  $730,525  $907,900
MANATEE  $506,000  $647,750  $783,000  $973,100
MARION  $472,030  $604,400  $730,525  $907,900
MARTIN  $500,250  $640,400  $774,100  $962,050
MIAMI-DADE  $557,750  $714,000  $863,100  $1,072,600
MONROE  $874,000  $1,118,900  $1,352,450  $1,680,800
NASSAU  $526,700  $674,250  $815,050  $1,012,900
OKALOOSA  $603,750  $772,900  $934,250  $1,161,050
OKEECHOBEE  $472,030  $604,400  $730,525  $907,900
ORANGE  $472,030  $604,400  $730,525  $907,900
OSCEOLA  $472,030  $604,400  $730,525  $907,900
PALM BEACH  $557,750  $714,000  $863,100  $1,072,600
PASCO  $472,030  $604,400  $730,525  $907,900
PINELLAS  $472,030  $604,400  $730,525  $907,900
POLK  $472,030  $604,400  $730,525  $907,900
PUTNAM  $472,030  $604,400  $730,525  $907,900
ST. JOHNS  $526,700  $674,250  $815,050  $1,012,900
ST. LUCIE  $500,250  $640,400  $774,100  $962,050
SANTA ROSA  $472,030  $604,400  $730,525  $907,900
SARASOTA  $506,000  $647,750  $783,000  $973,100
SEMINOLE  $472,030  $604,400  $730,525  $907,900
SUMTER  $472,030  $604,400  $730,525  $907,900
SUWANNEE  $472,030  $604,400  $730,525  $907,900
TAYLOR  $472,030  $604,400  $730,525  $907,900
UNION  $472,030  $604,400  $730,525  $907,900
VOLUSIA  $472,030  $604,400  $730,525  $907,900
WAKULLA  $472,030  $604,400  $730,525  $907,900
WALTON  $603,750  $772,900  $934,250  $1,161,050
WASHINGTON  $472,030  $604,400  $730,525  $907,900

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