Loan programs · Florida, Ohio & Texas
Down payments as low as 3.5%
Available in Fort Myers, Cape Coral, Naples and across Florida · Dallas, Fort Worth, Houston, Austin, El Paso and across Texas · Columbus, Cleveland, Cincinnati and across Ohio
FHA loans are insured by the Federal Housing Administration, which is why lenders can offer them with a smaller down payment and more forgiving credit standards than a conventional loan. They are the workhorse program for first-time buyers, for buyers whose credit has a wrinkle in it, and for anyone whose savings are real but not deep.
I broker FHA loans in Florida, Texas and Ohio. Because I shop the loan across several wholesale lenders rather than one bank, an FHA file that one lender turns down for its own house rules can still close somewhere else.
FHA sets a maximum loan amount for every county and updates it each year, so a house that fits FHA in Lehigh Acres may sit above the limit in Naples. I will tell you the current number for the county you are shopping in before you fall in love with a listing.
The property matters as much as the borrower. An FHA appraisal checks safety and livability, not just value, so peeling paint, a missing handrail or a roof at the end of its life can hold up a closing. In Southwest Florida the other common snag is condominiums: the building itself has to be FHA approved or eligible for a single unit review before the loan can be made. I check that on day one.
Mortgage insurance is the honest trade. FHA charges an upfront premium that is usually rolled into the loan and an annual premium paid monthly. On most FHA loans with less than ten percent down that monthly premium stays for the life of the loan unless you refinance. Many buyers start with FHA and move to a conventional loan later once they have equity and a stronger credit profile. That is a normal path, not a failure.
As low as 3.5% for eligible borrowers, which is often the difference between buying this year and waiting.
Mortgage insurance is required on FHA loans. It buys the flexibility that makes the program work, and it is a real monthly cost you should see in writing before you commit.
First-time buyers, and borrowers whose credit history has a wrinkle in it that a conventional loan will not forgive.
When a buyer qualifies for both, I run the numbers on both. The lower down payment does not always win once mortgage insurance is counted.
Whether this is the right program depends on your situation, the property and current guidelines, which change. That is the conversation to have before you start looking, not after you have found the house.
Good fit
Look elsewhere
I’m a broker. If your loan doesn’t fit one lender’s box, I’m not out of options. I shop it. And when it fits everywhere, they compete for it.
Questions
No. FHA loans are open to repeat buyers too. The requirement is that you live in the home as your primary residence. Investors and second-home buyers use other programs.
FHA allows as little as 3.5% down for eligible borrowers. The exact amount you need depends on your credit profile and the price of the home, and gift funds from family are allowed. We go through the real number together before you shop.
Yes. FHA loans carry an upfront premium, usually financed into the loan, and an annual premium paid monthly. On most FHA loans with less than ten percent down the monthly premium lasts for the life of the loan unless you refinance later.
Sometimes. The condominium project has to be FHA approved or eligible for a single unit approval. I check the building before we write an offer so you are not surprised at underwriting.
A standard FHA loan expects the home to be safe and livable at closing. If the house needs real work, the FHA 203(k) renovation loan finances the purchase and the repairs together. See the renovation loan page.
Not a commitment to lend. All loans subject to credit approval and underwriting on a complete file. Program availability and guidelines change, so confirm current terms before relying on them. Equal Housing Opportunity.
