LOAN PROGRAMS · FHA
FHA loans.Flexible guidelines.
FHA loans are insured by the Federal Housing Administration. They have flexible credit guidelines and low down payment options, which makes them popular with first-time buyers. They are for homes you will live in.
By Abdallah H. Fragomeno, Mortgage Advisor, NMLS ID 366447 (opens in a new tab) · PREMIER Financial Group of Florida, LLC, NMLS ID 1318440 · Updated
Have questions? No problem.
FHA loans in Miami: the short answer
- What it is
- A mortgage insured by the Federal Housing Administration, for homes you will live in.
- Loan limit in 2026
- Up to $667,000 for a one-unit home in Miami-Dade County.
- Credit
- FHA guidelines allow scores in the 500s, though most lenders set a higher minimum.
- Condos
- The building must be FHA-approved, or the unit must qualify on its own.
Who itfits best.
First-time buyers
Low down payment options and flexible credit guidelines.
Rebuilding credit
FHA can work for borrowers whose credit is still recovering.
Primary homes only
You must live in the home. One to four units.
How itworks.
Mortgage insurance
FHA loans have an upfront mortgage insurance premium and an annual premium paid monthly.
Loan limits by county
FHA sets maximum loan amounts for each county, updated every year.
Property standards
The home must meet FHA standards, checked by an FHA appraiser.
Condos
The building must be FHA-approved, or the unit must qualify for a single-unit approval. We check this first.
Good to know.Before you decide.
Mortgage insurance can last
Depending on your down payment, FHA mortgage insurance can last for the life of the loan. Many borrowers later refinance to remove it.
Gift funds
Gifts from family can often be used toward the down payment, with proper documentation.
Questions,answered.
Is FHA only for first-time buyers?
No. Anyone who will live in the home can use FHA, though it is popular with first-time buyers.
Can I buy a condo with an FHA loan?
Yes, if the building is FHA-approved or the unit qualifies for a single-unit approval. Many Miami buildings are not approved, so we check before you make an offer.
Can I remove FHA mortgage insurance?
It depends on your down payment when you took the loan. In many cases the only way to remove it is to refinance into a conventional loan.
What is the FHA loan limit in Miami-Dade for 2026?
For a one-unit home in Miami-Dade County, the 2026 FHA loan limit is $667,000. Limits are higher for two- to four-unit properties and are updated every year. You can look up any county on HUD's loan limit site (opens in a new tab).
What credit score do I need for an FHA loan?
FHA's own guidelines allow scores in the 500s, but most lenders set a higher minimum. Because we compare several wholesale lenders, we can look for one whose requirements fit your score.
How do I know if a condo is FHA-approved?
Search the building on HUD's FHA condo approval list (opens in a new tab). If it is not approved, some units can qualify for a single-unit approval. Many Miami buildings are not on the list, so check before you make an offer.
Can I get an FHA loan after bankruptcy or foreclosure?
Often, yes, after a waiting period. It is generally two years after a Chapter 7 bankruptcy discharge and three years after a foreclosure, with exceptions for documented circumstances beyond your control.
Can I buy a duplex or fourplex with FHA?
Yes, if you live in one of the units. Rental income from the other units can help you qualify.
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YOUR MORTGAGE ADVISOR
Nice to meet you.I'm Abdallah.
Your trusted Miami mortgage advisor. I'm here to make your home financing simple and stress-free.
Abdallah H. Fragomeno · Mortgage Advisor · NMLS ID 366447
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