100% Florida FHA Mortgage Lenders
Yes, a 100% no-down-payment Florida mortgage is possible. 96.5% 1st mortgage 3.5% 2nd mortgage = 100% Florida FHA mortgage lenders with 3.5% downpayment assistance or 3.5% 2nd mortgage, and Sellers can pay 6% to cover your closing costs. 100% FHA NO Down Payment Florida mortgage is a great program designed to help Florida homebuyers who are qualified FHA borrowers purchase a home without having to worry about making a down payment. This program makes homeownership more accessible for borrowers who do not have a down payment. Broward, Miami, Palm Beach FL FHA limits 654,350, Jacksonville 580,750, Tampa, Clearwater 524,225, the rest are listed below.
100% Financing Florida FHA-Mortgage-Lenders-
FHA 100% Mortgage Qualifying Requirements
•580 Minimum FICO Score Per Borrower with AUS approval
•**Manual Underwrites Allowed – 600 Minimum FICO Required**
•No First-Time Homebuyer Requirement
•FHA – Non-Occupant Co-Borrowers Allowed
•FHA 1st Lien + 96.5% LTV
•DPA 2nd Lien = 3.5% of Purchase Price or Appraised Value, lesser of the two
•Funds Can Be Used for Down Payment
•Funds Can Be Used for Closing Costs
•Follow the Agency Guidelines for UW
No Income Limits – •No cap on qualifying income
Program Fees
•Any Customary Fees are allowed (i.e., Appraisal, Credit Reporting, Survey, Title Insurance, etc.)
•Maximum Seller Paid closing cost up to 6% needed for no down payment.
• Appraisal $600 and home inspection estimate $400 = $1000
Eligible Borrowers
•US Citizens
•Permanent resident
•Inter Vivo Revocable Trusts
•Non-Occupant Co-Borrower
Eligible Properties
•Single Family Detached – 1 Unit
•Single Family Attached – 1 Unit
•Duplexes – 2 Units
•Planned Unit Developments (PUDs)
•Townhouses
•Condos: Agency Approved/No Litigation
•Manufactured Homes: Double-Wide Only
•Owner Occupied Only
Terms
•Interest Rate = 1st TD Note Rate + 2% **Check Daily Rate Sheet for Changes**
•Fully Amortizing Loan for 120 Months
•Include Payment in DTI Calculation
•Cannot be Subordinated
•3.5% of the Sales Price of Appraised Value, the lesser of the two.
FHA Florida Mortgage Limits
| Florida Counties | Florida FHA Mortgage Loan Limits |
| Alachua | $524,225 |
| Baker | $580,750 |
| Bay | $524,225 |
| Bradford | $524,225 |
| Brevard | $524,225 |
| Broward | $654,350 |
| Calhoun | $524,225 |
| Charlotte | $524,225 |
| Citrus | $524,225 |
| Clay | $580,750 |
| Collier | $764,750 |
| Columbia | $524,225 |
| Desoto | $524,225 |
| Dixie | $524,225 |
| Duval | $580,750 |
| Escambia | $524,225 |
| Flagler | $524,225 |
| Franklin | $524,225 |
| Gadsden | $524,225 |
| Gilchrist | $524,225 |
| Glades | $524,225 |
| Gulf | $524,225 |
| Hamilton | $524,225 |
| Hardee | $524,225 |
| Hendry | $524,225 |
| Hernando | $524,225 |
| Highlands | $524,225 |
| Hillsborough | $524,225 |
| Holmes | $524,225 |
| Indian River | $524,225 |
| Jackson | $524,225 |
| Jefferson | $524,225 |
| Lafayette | $524,225 |
| Lake | $524,225 |
| Lee | $524,225 |
| Leon | $524,225 |
| Levy | $524,225 |
| Liberty | $524,225 |
| Madison | $524,225 |
| Manatee | $547,400 |
| Marion | $524,225 |
| Martin | $596,850 |
| Miami-Dade | $654,350 |
| Monroe | $967,150 |
| Nassau | $580,750 |
| Okaloosa | $603,750 |
| Okeechobee | $524,225 |
| Orange | $524,225 |
| Osceola | $524,225 |
| Palm Beach | $654,350 |
| Pasco | $524,225 |
| Pinellas | $524,225 |
| Polk | $524,225 |
| Putnam | $524,225 |
| Santa Rosa | $524,225 |
| Sarasota | $547,400 |
| Seminole | $524,225 |
| St. Johns | $580,750 |
| St. Lucie | $596,850 |
| Sumter | $524,225 |
| Suwannee | $524,225 |
| Taylor | $524,225 |
| Union | $524,225 |
| Volusia | $524,225 |
| Wakulla | $524,225 |
| Walton | $603,750 |
| Washington | $524,225 |
