FHA Home Loans in Coral Gables, FL
Coral Gables is a suburban market built around newer single-family stock and school-district demand. Miami-Dade County uses the $832,750 national baseline conforming limit for 2026. HUD set the county's one-unit FHA limit at $667,000 — $125,713 above the $541,287 national floor. With a median around $985,000, the typical Coral Gables purchase already sits above the conforming limit, so jumbo or high-balance financing is the normal path here. Because the $667,000 FHA ceiling lands below the $985,000 median, FHA buyers in Coral Gables are generally shopping the lower half of the market, buying a condo or townhome, or bringing more than the 3.5% minimum to close the gap. On 2–4 units, the FHA limits step up to $853,760 (duplex), $1,032,116 (triplex), and $1,282,708 (fourplex) — the route Florida buyers use to house-hack with 3.5% down while tenants carry part of the payment.
The 2026 FHA loan limit in Miami-Dade County is $667,000. The Coral Gables median home price is $985,000, which is above the FHA limit. Buyers may need to cover the gap with a larger down payment or explore jumbo financing.
Down Payment Comparison
Monthly Payment Breakdown
| Loan Type | P&I | MIP / PMI | Monthly Total |
|---|---|---|---|
| FHA 3.5% down | $4,086 | $295 | $4,381 |
| Conventional 5% down | — | $328 | $6,319 |
Upfront MIP of $11,264 (1.75%) is typically rolled into the loan balance.
Down Payment Assistance
Florida buyers in Miami-Dade County can layer FHA with Florida Housing's Hometown Heroes and the FL Assist second mortgage for down payment and closing cost help. Both are income-limited by county and require a first-time buyer status in most cases — Coral Gables's $985,000 median usually keeps the assistance math workable.
FAQs
Get pre-approved for an FHA loan in Coral Gables
Low down payment, flexible credit requirements, and DPA stackable programs.