Mortgage Glossary
FHA Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
An FHA loan is a mortgage insured by the Federal Housing Administration, built for borrowers with lower credit scores or smaller down payments.
What FHA Loan means
It allows as little as 3.5% down with a 580 score and is more forgiving on credit history. The trade-off is mortgage insurance: 1.75% upfront plus an annual premium that often lasts the life of the loan.
Florida example
A Florida buyer with a 600 score and $13,000 saved uses FHA to buy a $360,000 home with 3.5% down. The 2025 FHA limit in most Florida counties is $524,225, covering the bulk of the state's inventory.
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