FHA loans — low down payment, flexible credit.
Buy a home in Colorado or Florida with as little as 3.5% down. Government-backed financing for first-time buyers, repeat buyers, and those rebuilding credit.
Program guidelines at a glance
Rough guidelines only — actual qualification depends on the full loan file (credit depth, reserves, property type, occupancy, and investor overlays). We'll confirm your exact numbers in writing.
| Guideline | FHA 203(b) Standard Owner-occupied purchase or rate/term refi | FHA Streamline Refi Existing FHA loan → lower rate, minimal docs |
|---|---|---|
| Min FICO | 580 (3.5% down) · 500–579 with 10% down Manual underwrite available below 580 | No score required (non-credit qualifying option) |
| Min down payment | 3.5% 100% gift funds allowed from family | N/A (refi only) |
| Max DTI | Up to 56.9% With AUS approval & compensating factors | Not calculated (non-credit qualifying) |
| Reserves | 0 months (1-2 units) · 3 months (3-4 units) | Generally not required |
| Loan limits (2026) | $541,287 baseline · up to $1,149,825 in high-cost CO/FL counties | Same as standard FHA limits |
| Occupancy | Primary residence only 1-4 units; you must live in one | Primary residence |
| Mortgage insurance | Upfront 1.75% + monthly MIP for life of loan (most cases) | New MIP applies, but may be lower than old loan |
| Cash-out refi | Up to 80% LTV | Not allowed — rate/term only |
| Doc type | Full doc (W-2 / tax returns) | No income, no appraisal, no asset verification (non-credit qualifying) |
FHA 203(b) Standard
Owner-occupied purchase or rate/term refi
- Min FICO
- 580 (3.5% down) · 500–579 with 10% downManual underwrite available below 580
- Min down payment
- 3.5%100% gift funds allowed from family
- Max DTI
- Up to 56.9%With AUS approval & compensating factors
- Reserves
- 0 months (1-2 units) · 3 months (3-4 units)
- Loan limits (2026)
- $541,287 baseline · up to $1,149,825 in high-cost CO/FL counties
- Occupancy
- Primary residence only1-4 units; you must live in one
- Mortgage insurance
- Upfront 1.75% + monthly MIP for life of loan (most cases)
- Cash-out refi
- Up to 80% LTV
- Doc type
- Full doc (W-2 / tax returns)
FHA Streamline Refi
Existing FHA loan → lower rate, minimal docs
- Min FICO
- No score required (non-credit qualifying option)
- Min down payment
- N/A (refi only)
- Max DTI
- Not calculated (non-credit qualifying)
- Reserves
- Generally not required
- Loan limits (2026)
- Same as standard FHA limits
- Occupancy
- Primary residence
- Mortgage insurance
- New MIP applies, but may be lower than old loan
- Cash-out refi
- Not allowed — rate/term only
- Doc type
- No income, no appraisal, no asset verification (non-credit qualifying)
3.5% down payment
Buy sooner without waiting years to save 20%. Gift funds and down payment assistance are allowed.
Flexible credit
Qualify with credit scores as low as 580. More forgiving debt-to-income ratios than conventional.
Local FHA expertise
We know Colorado and Florida county limits, approved condo lists, and appraisal requirements.
How FHA loans work
An FHA loan is insured by the Federal Housing Administration, which means lenders can offer more flexible terms than they typically would with a conventional mortgage. The borrower pays mortgage insurance premiums (MIP) — an upfront premium at closing and an annual premium rolled into the monthly payment.
Down payment: 3.5% minimum for borrowers with credit scores of 580+. Scores of 500–579 require 10% down.
Debt-to-income ratio: Up to 50% in many cases, though some lenders cap at 43–45%.
Mortgage insurance: Required for the life of the loan on most FHA purchases. You can refinance to conventional later to remove it.
Property requirements: The home must be your primary residence and meet FHA minimum property standards during appraisal.
Who FHA loans are best for
- First-time buyers with limited savings
- Buyers rebuilding credit after a setback
- Families using gift funds for the down payment
- Borrowers with higher debt-to-income ratios
- Multi-family buyers planning to owner-occupy
FHA loans by city
We originate FHA loans across Colorado and Florida. Here are the markets where FHA financing is especially popular.
FHA loans in Montrose
Median: $465K
View guideFHA loans in Grand Junction
Median: $425K
View guideFHA loans in Denver
Median: $575K
View guideFHA loans in Fort Collins
Median: $555K
View guideFHA loans in Colorado Springs
Median: $465K
View guideFHA loans in Pueblo
Median: $285K
View guideFHA loans in Gunnison
Median: $565K
View guideFHA loans in Salida
Median: $595K
View guideFHA loans in Cortez
Median: $345K
View guideFHA loans in Delta
Median: $365K
View guideFHA loans in Glenwood Springs
Median: $745K
View guideFHA loans in Leadville
Median: $465K
View guideFHA loans in Tampa
Median: $415K
View guideFHA loans in Fort Myers
Median: $365K
View guideFHA loans in Jacksonville
Median: $315K
View guideFHA loans in Orlando
Median: $385K
View guideFHA loans in Pensacola
Median: $295K
View guideFHA loan FAQs
What is an FHA loan?+
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It allows buyers to purchase a home with a down payment as low as 3.5% and more flexible credit requirements than conventional loans.
What credit score do I need for an FHA loan?+
Most FHA lenders require a minimum credit score of 580 to qualify for the 3.5% down payment option. Borrowers with scores between 500–579 may still qualify with 10% down, though fewer lenders offer this.
What are the FHA loan limits in Colorado and Florida?+
FHA loan limits vary by county. In most Colorado counties, the 2026 FHA limit is $541,287 for single-family homes. High-cost counties like Denver, Boulder, and Eagle go up to $1,149,825. Florida limits range from $541,287 to $1,149,825 depending on the county.
Can I use an FHA loan for an investment property?+
No — FHA loans are strictly for primary residences. However, you can use an FHA loan to buy a multi-family property (up to 4 units) as long as you live in one of the units.
How does FHA compare to conventional?+
FHA loans have lower down payment requirements and more forgiving credit standards, but they require mortgage insurance premiums (MIP) for the life of the loan in most cases. Conventional loans typically require 3–5% down, but PMI can be removed once you reach 20% equity.
How long does it take to close an FHA loan?+
Most FHA loans close in 30–45 days, similar to conventional loans. The timeline depends on how quickly you can provide documentation, the lender's workload, and any property condition issues flagged during the FHA appraisal.
Can I refinance into or out of an FHA loan?+
Yes. FHA Streamline Refinance allows you to lower your rate with minimal paperwork if you already have an FHA loan. You can also refinance from FHA to conventional to eliminate mortgage insurance once you have enough equity.
Get pre-approved for an FHA loan
See if you qualify for 3.5% down — fast, free, no obligation. Local expertise for Colorado and Florida buyers.
Related loan programs
Not sure this is the right fit? Explore other programs we originate.
FHA comparisons & limits
FHA vs Conventional
Down payment, MIP, credit score thresholds.
Read moreVA vs FHA
0% down with VA vs 3.5% down with FHA.
Read moreDenver County FHA limits
FHA up to $862,500 — high-balance MSA.
Read moreEl Paso County FHA limits
Colorado Springs FHA and conforming limits.
Read moreMiami-Dade FHA limits
Florida FHA limits and condo approval notes.
Read moreFirst-time homebuyer (CO)
Programs that pair well with FHA.
Read more