Florida FHA Mortgage Loan Limits for Home Lending by County

First time home buyers and homeowners learned that FHA loan limits in Florida would be Federally insured on mortgages up to $448,500 for single family homes located in high cost counties in 2014. Once again Americans rushed to the Sunshine state as they led the nation with first time home buying. More people relocated to Florida to retire or to raise a family with a new home. Ask about our programs for first time home buyers in Florida with competitive rates, low income financing and down-payment assistance opportunities.

Florida homeowners have been riding a real estate roller coaster as properties values across the state have been rising and falling. Mortgage rates in Florida remain competitive with low interest rates for purchasing and refinancing residential real estate. Buying a home in Florida with bad credit just got a little easier because FHA takes chances on borrowers that have redeemable factors.

Get Up to Speed on Today's Rules for Florida Home Buying Loans

When applying for a FHA insured mortgage in the state of Florida, a person must first make sure that their desired home is priced within the FHA limits in place across the Atlantic and Gulf Coast. The Federal Housing Administration will have different limits in place depending on the prices of homes in each area, with lower income areas having lower rates and higher income areas having higher rates. Typically, these limits are created using the median housing prices within a specific Florida region, and they are subject to change from year to year.

Due to the ever changing nature of the housing market, these FHA home loan limits across the state of Florida may change from one year to another, making it important that these loan limits are researched for a specific area before a prospective home buyer applies for the loan of their choice. Because these loan limits are based on median housing prices found across various regions within the state, they will often cover many homes within a given region.

The higher income areas of Florida will have higher loan limits than those found in the lower income regions. In more expensive regions such as Key West or Palm Beach, loan limits will range from around $200,000 to $332,000 to reflect the prices of homes within the area. These loan limits will allow prospective home buyers to have their choice of many homes throughout these counties as the loan limit covers the price of the average home sold.

In lower income areas across Florida, such as Sebring or Clewiston, FHA home loan limits may be set more in the $48,000-$65,000 range. Although this amount may seem small when compared to the limits in place in more expensive counties, the designated limit will often cover many of the standard residences found within the specific region.

FHA extends great options for first time home buyers, experienced home buyers, and those looking to buy a home with poor credit or no credit, but loan limits should always be recognized when looking to buy a home using one of these loans. When researching first time home buyer loans in Florida, it is always recommended that a prospective home buyer take note of the specific FHA home loan limits that are put in place within their desired region to ensure that they will be able to cover the home they want using one of these often beneficial loans.

Maximum FHA Loan Amounts in Florida