FHA loans aren't just for first-time buyers. Here's everything you actually need to know before applying.
FHA is the loan that gets more first-time buyers into a home than any other, and it's also the loan most people misunderstand. It isn't only for first-timers, it isn't only for people with credit problems, and the mortgage insurance isn't a life sentence if you know the rules. These guides cover who it's for, what it costs, and how to use it in Florida without getting surprised.
New to FHA? Read FHA Loans 101 first, then the five mistakes to avoid before you apply. Deciding between FHA and conventional? That decision comes down to your credit, your down payment and how long you plan to stay, and this guide on paying off debt first is the one buyers wish they'd read earlier.
Buying in Florida? FHA Loans in Tampa covers condo approvals, four-point inspections and the local wrinkles, and the 2026 Florida loan limits changed more than most buyers noticed. Fixer-upper? The FHA 203k finances the repairs in the same loan. And if a family member has a low-rate FHA loan, you may be able to take it over.
The appraiser is grading the house on safety, security, and soundness, not just value. In Florida the roof is usually what ends the conversation.
On an FHA condo purchase the building gets underwritten too, and Florida's older coastal projects fail that review constantly. Here's how to check a building before you write the offer, and the single-unit route most buyers never hear about.
Loan limits, mortgage insurance, condo approvals, four-point inspections, and the Tampa neighborhoods where FHA appraisals get picky. A local guide to the loan most first-timers use.
A standard mortgage doesn't cover what it costs to fix a home. Florida buyers have another option most lenders never mention.
Florida's FHA loan limits rose again in 2026, and the gap between what buyers think they can borrow and what they actually can is wider than ever.
FHA mortgage insurance doesn't work like conventional PMI. The rules on how long you pay it will catch most buyers off guard.
FHA MIP gets charged at closing and every month after. Most buyers don't realize it never goes away unless they refinance, and that changes the math on FHA for a lot of files.
Five FHA refinance paths exist. The one that saves you the most depends on when you bought, what you owe, and one factor most borrowers overlook.
A 3% rate locked in 2021 is transferable. Most families don't know this is even an option, let alone how to pull it off.
Paying off the wrong debt before a mortgage can actually hurt your approval odds. Here's what to pay down and what to leave alone.
FHA loans come with mortgage insurance, but most buyers don't know when it ends or if it can ever be removed.
Ranked #35 nationally in FHA volume, Jordan closed $41.8M in FHA loans in 2024. Here's what that kind of track record means for your application.
The 10 FHA questions buyers ask most often, including the ones that usually come up after an application is already in progress.
Most first-time buyers don't spot these FHA loan mistakes until they've already slowed down their closing. Here's what to avoid.
Low down payment, flexible credit requirements, and an FHA-backed approval. Here's the full picture, including the mortgage insurance cost most buyers overlook.
Buyers with a smaller down payment, buyers whose credit has a few bruises, buyers coming back after a bankruptcy or a foreclosure once the waiting period has passed, and plenty of buyers who could qualify for conventional but come out ahead on FHA anyway. The loan is insured by the Federal Housing Administration, which is why lenders can say yes to files a bank would wave off.
Two things conventional buyers don't pay: an upfront mortgage insurance premium at closing, which is usually rolled into the loan, and a monthly premium on top of the payment. How long the monthly premium lasts depends on how much you put down, and the rules are different from conventional PMI. FHA MIP explained and how long you pay it cover the details, and the FHA refinance options cover how buyers get out of it later.
The FHA appraisal checks the home against minimum property standards, so peeling paint, a failing roof or a missing handrail can hold things up until it's fixed. Condos need FHA approval, either for the building or for the single unit. Florida adds a four-point inspection for insurance on older homes and county-by-county loan limits that move every year. None of it is a dealbreaker when your loan officer sees it coming.
FHA has a reputation for being slow. It isn't the loan that's slow, it's the lender. Most of our files run in-house through PRMG, so the underwriter who clears your conditions is down the hall, and we hold NMLS broker authority for the rare file that fits better elsewhere. If you're under contract with a date to hit, see how fast we move.
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No. Anyone who meets the credit, income and property rules can use it, including repeat buyers and buyers who've owned before. The one real limit is that the home has to be your primary residence.
Less than most conventional loans, and the exact minimum depends on your credit score. Gift funds from family and seller-paid closing costs are both allowed, which is how a lot of FHA buyers get to the table with less cash than they expected. Your loan officer gives you the real number for your file. Start your FHA pre-approval to find out.
Sometimes on its own, after a set number of years if you put enough down, and otherwise by refinancing into a conventional loan once you have the equity and the credit to qualify. The full rules are here, and they surprise most buyers.
Usually yes, once the waiting period for your situation has passed and your credit has re-established. The waiting periods are shorter than conventional loans require, which is one reason FHA is the comeback loan. Talk to a loan officer about your dates before you assume the answer is no.
14 Days To Close is a licensed mortgage broker (NMLS #75243), powered by PRMG. FHA loans are insured by the Federal Housing Administration; program rules, limits and premiums are set by HUD and change over time. All loans are subject to credit approval and underwriting review. Nothing on this page is a commitment to lend.
We'll look at your credit, income, and goals and tell you which loan makes the most sense for your file. No pressure, no runaround.
