FHA Loan Limits Florida 2022 | Loan Limits by County and Home Type

Florida is one of the most sought-after states for retirement, having a vacation home, and a top destination for tourists and snowbirds. With warm weather year-round and plenty of coastal towns for easygoing living, Florida is one of the most popular states in America.

Editorial Note:
All data regarding loan limits is pulled directly from the FHA and is current as of 2022. These numbers are subject to change and evaluated by the FHA each year.

Florida FHA Loan Limits by County and Home Type

In 2022, the FHA loan limits in Florida for a single-family home range from $420,680 in lower-priced areas to $710,700 in higher-priced areas. The higher FHA loan limits hover around coastal bound counties such as Monroe County in the Florida Keys. There is generally a higher cost of living associated with some of the more coastal counties and a desire for homes closer to the water.

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One great benefit to living in Florida is the fact that they don’t have a state individual income tax. This is one of the many reasons why it has a strong popularity among retirees and real estate investors.

Making Sense of the Numbers

One fact that is hard to ignore about Florida as a whole is how affordable it is to live there. Whether you’re a retiree or in the early stages of your career, the cost of living in Florida is on the lower end compared to other states. Counties such as Holmes, Putnam, Lafayette, and Suwannee have a median home sales price of under $100,000.

These are areas that are extremely affordable and allow people to enjoy a comfortable retirement with sunshine year round. In addition to this, Florida has property taxes that are well below the national average. The lower cost of living combined with lower property taxes can help more people in Florida qualify for an FHA loan.

How to Qualify for an FHA Loan in Florida

Florida borrowers who are interested in getting an FHA loan will have to pass the standard FHA loan requirements. Individuals who may not have the cash for a down payment may qualify for Florida’s first-time homebuyer assistance programs. 

If you’re a first-time homebuyer or have purchased a home in the past, below are the FHA requirements you need to meet to qualify for an FHA loan in Florida.

  • FICO score at least 580 = 3.5% down payment
  • FICO score between 500 and 579 = 10% down payment
  • Mortgage insurance is required
  • DTI of less than 43%
  • The home must be the borrower’s primary residence
  • The borrower must be employed and have a steady income

How Are FHA loan Limits Determined in Florida

The FHA loan limits in Florida are subject to change each year. The loan limits are based on a set percentage of the conforming loan limits set by FHFA for conventional mortgages. Conventional loan limits reflect changes in the average U.S. home prices over the past year. The conventional loan limits are composed of county-level limits for both high-cost and low-cost areas.

FHA loan limit calculation example:

The 2022 low-cost FHA limit in Florida or commonly referred to as the “floor” is $420,680 for a single-family home. The FHA “floor” is 65% of the conforming loan limit for conventional mortgages which was $647,200 in 2022. Keep in mind that this is for a single-family home. The low-cost loan limit goes up with each additional unit:

  • $538,650 – two-unit property
  • $651,050 – three-unit property
  • $809,150 – four-unit property

Higher FHA loan limits apply to higher-cost areas that tend to have higher median home prices. This is also a natural reflection of the varying home prices across different counties in Florida.

Florida FHA Lenders

Below are some of the most popular FHA lenders in Florida along with their minimum FHA credit score requirements in order to qualify.


How much is a down payment on an FHA loan in Florida?

The down payment requirement for an FHA loan in Florida is 3.5%. It’s important to note that this down payment requirement varies from lender to lender and can be higher depending on your credit score.