Low-Down-Payment Financing. Review the Requirements for Your Home.
FHA loans are government-backed mortgages insured by the Federal Housing Administration, designed to make homeownership accessible for buyers with lower credit scores or limited savings. With just 3.5% down and flexible qualifying guidelines, FHA loans are one of the most popular paths to a first home in Florida.
For a home in Florida, confirm the property's county, unit count, occupancy and current FHA eligibility with your lender. FHA county limits and transaction requirements are not a single statewide approval standard.
Check HUD's mortgage-limit lookup using Florida and the actual county. Skyline Mortgage's disclosed service states include Florida; this information is not an approval or a commitment to lend.
For a home in Texas, confirm the property's county, unit count, occupancy and current FHA eligibility with your lender. FHA county limits and transaction requirements are not a single statewide approval standard.
Check HUD's mortgage-limit lookup using Texas and the actual county. Skyline Mortgage's disclosed service states include Texas; this information is not an approval or a commitment to lend.
For a home in Georgia, confirm the property's county, unit count, occupancy and current FHA eligibility with your lender. FHA county limits and transaction requirements are not a single statewide approval standard.
Check HUD's mortgage-limit lookup using Georgia and the actual county. Skyline Mortgage's disclosed service states include Georgia; this information is not an approval or a commitment to lend.
For a home in Tennessee, confirm the property's county, unit count, occupancy and current FHA eligibility with your lender. FHA county limits and transaction requirements are not a single statewide approval standard.
Check HUD's mortgage-limit lookup using Tennessee and the actual county. Skyline Mortgage's disclosed service states include Tennessee; this information is not an approval or a commitment to lend.
For a home in Colorado, confirm the property's county, unit count, occupancy and current FHA eligibility with your lender. FHA county limits and transaction requirements are not a single statewide approval standard.
Check HUD's mortgage-limit lookup using Colorado and the actual county. Skyline Mortgage's disclosed service states include Colorado; this information is not an approval or a commitment to lend.
No application. No credit pull. Just answers. · NMLS #2386002
Minimum Down Payment
3.5% (580+) / 10% (500–579)
Minimum Credit Score
500+ (see note)
Debt-to-Income Review
Program and lender requirements apply
Mortgage Insurance
Required
County Loan Limits
Check current HUD lookup
Property Types
SFR, 2-4 Unit, Condo, Manufactured (post-1976)
Loan Terms
15, 20, 25, 30 Yr Fixed; ARM
States Licensed
FL, GA, TN, TX, CO
Text us your scenario — no application, no credit pull, no pressure. Our team will walk you through your options and help you understand the next steps and transaction-specific requirements.
The minimum credit score for an FHA loan with 3.5% down is 580. Borrowers with scores between 500 and 579 may still qualify but will be required to put 10% down. Skyline Mortgage works with borrowers across the credit spectrum and can advise on credit improvement strategies if needed.
Yes. FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount (typically rolled into the loan) and an annual mortgage insurance premium (MIP) paid monthly. Unlike conventional PMI, FHA MIP is required for the life of the loan if your down payment is less than 10%. If you put 10% or more down, MIP can be removed after 11 years.
FHA loan limits depend on the calendar year, county and number of units. Use HUD’s mortgage-limit lookup for the actual property and confirm the current result with your lender rather than relying on one statewide amount.
Yes. FHA loans can be used to purchase 2, 3, or 4-unit properties as long as you occupy one of the units as your primary residence. This is a popular strategy for first-time buyers who want to offset their mortgage payment with rental income from the other units.
Yes. FHA loans are compatible with most down payment assistance programs, including Florida Housing Finance Corporation programs. Skyline Mortgage can help you identify and combine DPA programs with your FHA loan to minimize your out-of-pocket costs at closing.
Closing timing depends on the application, property, documents and outstanding conditions. Ask your loan officer to review the current checklist and expected timeline for your transaction; no closing date is guaranteed.
From your first call to your closing day, and thereafter. Skyline Mortgage is with you every step of the way.
Related Reading
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