FHA Home Loans in Fort Myers, FL

How an FHA loan works in Fort Myers

FHA loans are insured by the Federal Housing Administration and made by FHA-approved lenders. As a mortgage broker, Tayton Capital compares those lenders for you. The 2026 one-unit FHA limit in Lee County is $541,287, and the Fort Myers median home price of about $362,000 is 67% of the limit, leaving room for homes up to about $560,919 with 3.5% down.

On a $362,000 purchase with 3.5% down ($12,670), the base loan is about $349,314. FHA adds an upfront mortgage insurance premium of 1.75% ($6,113), usually financed into the loan, plus an annual premium paid monthly — about $160 a month here. With principal and interest near $2,246, the modeled payment is $2,406 a month before property taxes, homeowners insurance and any HOA dues.

Our model puts the household income needed for a median-priced Fort Myers home at about $88,074 a year. Lenders count your other monthly debts too, so car, student-loan and credit card payments raise that number.

FHA vs conventional in Fort Myers

With 5% down, a conventional loan on the same $362,000 home takes $18,100 at closing versus $12,670 for FHA. In our model the conventional payment is about $2,430 a month against $2,406 for FHA — FHA comes out about $24 a month lower at this price.

FHA usually fits Fort Myers buyers with credit scores under about 680, higher debt-to-income ratios or very little saved for a down payment. Conventional mortgage insurance can be removed once you reach 20% equity; FHA's usually takes a refinance if you put less than 10% down.