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5% Down · FHA

5% Down FHA Loan

5% Down FHA Loan — how it works, what it costs, and who qualifies.

Down Payment %
5%
On a $400K Home
$20,000
Loan Amount
$380,000
Sample Price
$400,000
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NMLS# 1859012 · Equal Housing Lender
5% Down · FHA

5% Down FHA Loan in Florida

On an FHA loan, 5% down works within FHA's 3.5% minimum and flexible 580-score guidelines. FHA carries an upfront and monthly mortgage insurance premium, but it forgives thinner credit and higher debt than conventional — and it pairs cleanly with Florida assistance to cover the cash.

Five percent down is the comfortable conventional middle ground. You put a bit more in, your PMI runs lower than at 3% down, and your monthly payment drops. It is also the typical minimum on a second home.

On a $400,000 home, 5% down is $20,000. The extra two percent over the 3% floor meaningfully lowers your monthly PMI and shrinks the loan balance, so your payment is easier to carry. For buyers who have saved a little more, it is often the sweet spot between cash out of pocket and monthly cost.

Five percent is also the entry point for second homes and works on most conventional loan sizes. We model 3% versus 5% versus 10% so you can see exactly what each extra dollar down saves you each month.

5% Down at a Glance

✓Lower monthly PMI than a 3% down conventional loan.
✓Standard minimum down payment on a second home.
✓Smaller loan balance means a lower monthly payment.
✓Works across most conventional loan amounts.

Read the full 5% down guide, or compare other loan types: Conventional · First-Time Buyers · Florida.

5% Down Snapshot
5%Down Payment %
$20,000On a $400K Home
$380,000Loan Amount
$400,000Sample Price
How It Works
01
Apply Online
5 min · soft credit pull only
02
Match Program
We shop lenders + assistance
03
Processing
Our team handles paperwork
04
Close
Typically 14–21 days
FAQ

5% Down FHA Loan Questions

Does 5% down work with an FHA loan in Florida?

Yes. FHA's 3.5% minimum and forgiving credit rules make it a natural fit, and 5% down stacks with Florida Hometown Heroes to lower your cash to close. We confirm the FHA numbers against your file before you apply.

Is 5% down worth it over 3% down?

For many buyers, yes. The extra 2% lowers your PMI rate and your loan balance, which can save a noticeable amount each month. If saving the larger down payment delays your purchase in a rising market, 3% down may still win. We run both.

Can I buy a second home with 5% down?

Often yes. Five percent is the common conventional minimum for a second home that you will occupy part of the year, as long as it is not a rental. Investment properties need more. We confirm the occupancy rules for your situation.

Official resources

Verify the details for your own situation against these government and agency sources: HUD FHA loan program and HUD Handbook 4000.1 (FHA rules).

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5% Down FHA Loan?

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Figures are illustrative only and based on a sample purchase price. APR, payments, and assistance amounts vary by credit score, loan amount, income, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.