FHA Loans
Government-backed loans designed to make homeownership accessible to more Florida families.
Apply for an FHA Loan →FHA loans are insured by the Federal Housing Administration. They were created to help first-time buyers and those with limited credit history or smaller savings get into a home. Because the FHA backs the loan, lenders can offer easier qualification requirements and lower down payments than conventional loans.
Key Benefits
Just 3.5% down
With a 580+ credit score, you only need 3.5% down. With 500–579, you can still qualify with 10% down.
Flexible credit requirements
FHA accepts lower credit scores than conventional loans — even borrowers recovering from bankruptcy or foreclosure can qualify.
Gift funds allowed
Your entire down payment and closing costs can come from family gifts. No minimum personal contribution required.
203(k) renovation loans
FHA 203(k) lets you finance home purchase AND renovation in one loan — perfect for fixer-uppers.
Assumable loans
Unlike conventional, FHA loans are assumable. When you sell, your buyer can take over your low rate (huge selling point if rates rise).
Florida-friendly
Lots of Florida properties qualify, including condos in FHA-approved buildings — we have the list.
Is This Right for You?
FHA is best for first-time buyers, buyers with credit scores 580–680, anyone with limited savings, or those recovering from past credit issues. The trade-off: FHA mortgage insurance lasts for the life of the loan (you can refinance to conventional once you hit 20% equity to drop it).
Every situation is unique. The fastest way to know if this is the right loan for you is to talk to a licensed Divito Lending advisor — we will look at your full picture and recommend the loan type that actually fits.
Common Questions
Do I have to be a first-time buyer for an FHA loan?
No. FHA is open to repeat buyers too. But you can only have ONE FHA loan at a time (with rare exceptions for job relocation, etc.).
Can I use an FHA loan for a condo?
Yes — if the condo is in an FHA-approved building. We maintain an updated list of FHA-approved Florida condos. Many beachfront and gated communities qualify.
How long does FHA mortgage insurance last?
For loans originated after June 2013 with less than 10% down, MIP is for the life of the loan. With 10%+ down, MIP drops off after 11 years. To remove it sooner, refinance to a conventional loan once you reach 20% equity.
What is the difference between FHA upfront and annual MIP?
Upfront MIP is 1.75% of loan amount (added to loan at closing). Annual MIP is 0.45%–1.05% paid monthly. Both are required on FHA loans.
Ready to See What You Qualify For?
Get pre-approved in minutes with no credit pull, or schedule a no-pressure conversation with a licensed Florida mortgage advisor.