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100% Florida FHA Mortgage Lenders

Florida 100% No Money Down Florida Mortgage Lenders

Florida FHA 100% No Down Payment Mortgage

To Learn About Florida Downpayment Assistance Options, Please Click Here

FHA Mortgage Lenders’ Minimum Requirements

1. Cash	Min 600 credit score with AUS approval qualifies you for 100% FHA financing.
2. Credit	Minimum 600+ credit score – based on payment history, not credit score driven.
3. Capacity/DTI	Gernally 31/43 but with AUA approval, Max DTI 46.9/56.9%.
4. Collateral	Single Family, multi-2-4 units, townhomes, villas, FHA condos, manufactured, modular.
Summary	FHA mortgage loans are the easiest loans to qualify for. Must fully document all income and assets.

No Money Down Payment Mortgage Overview

FHA 100% FHA mortgage lenders with no down payment needed. With this program, the seller needs to pay the closing costs up to 6% of the closing cost. Credit scores 600+ Scores can qualify; Repayable 2^nd mortgage;- max DTI 47/57% ratios acceptable = as long as the AUS is Approved/Eligible. Increase homeownership opportunities for borrowers with low income with the FHA 100% CLTV Combo loan program from Florida FHA mortgage lenders. This program offers 100% financing by combining a standard FHA mortgage first lien at 96.5% and a concurrent second mortgage lien of up to 3.5% to assist with down payment. You will also need to pay the FHA allowable 6% seller-paid closing costs negotiated in your purchase and sale contract.

What Are the No-Money-Down Payment Specifics?

FHA first lien 96.5% + concurrent second lien 3.5% = 100% CLTV
Minimum 600 FICO
Standard 30-year fixed-rate FHA first lien
No First-Time Home Buyer requirement
No Income Limits
AUS approval required (660+ for manual underwriting)
No prepayment penalty
May be combined with up to 6% seller concession for closing costs.
No resale restrictions

Who Is Eligible For No Down Payment Mortgage?

Any Borrower on the loan application is a first-home buyer who meets the following criteria:

Is purchasing the Subject Property;
Will reside in the Subject Property as their principal residence;
Has had no ownership interest during the three years preceding the date of the application.
Primary FHA first-time home buyers are equal to or less than 140% of the state or county median income search tool.
• What if the Borrower’s paystub reflects overtime income? Is this required to be counted towards the 140%?
• If the overtime income is not used to qualify the Borrower, then the overtime income does not have to count towards the 140%.
• The income that the underwriter will use to qualify the Borrower is what will be compared to the 140%.
• Any Borrower on the loan application is a current, retired, volunteer, or unpaid:
• First responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT), or similar
• Educator (Sunday school teacher, tutor, daycare provider)
• Medical personnel (nurse, doctor, phlebotomist, health ambassador, hospital, American Red Cross worker, or similar)
• Civil servant in a Federal, state, or local municipality
• 30-year fixed

What are the benefits of a no-money-down mortgage?

Home buyers can use FHA-approved gift funds to help with the down payment and closing costs.
FHA Closing costs can also be paid by the seller of the home, up to 6% of the home’s sale price.
FHA loans offer secure 30-year fixed interest rates set by Florida FHA mortgage lenders, banks, and mortgage companies. FHA mortgage interest rates are often lower than conventional loans that require a larger down payment.
No minimum or maximum income restrictions.
The FHA mortgage can be used for any new & existing single-family residence, townhome, or FHA-approved condo list. The property being purchased can be a regular sale, short sale, foreclosure home, etc, that meets FHA maximum property standards.
FHA allows co-borrowers and Co-signers and non-occupying home buyers to help qualify for an FHA mortgage.
Most FHA programs do not have a first-time buyer class, and FHA Mortgage applicants can apply and get pre-approved all day.
The Newly increased Florida FHA loan limit for 2025 to $524,225. Monroe County Florida holds the highest FHA loan limit of $967,150.
The FHA Good Neighbor Next Door is great for public service workers like FHA Teachers, Firefighters, and Police Officers.
Qualifying for an FHA Mortgage loan with bad credit or even no credit score is possible. Note that the current minimum FHA mortgage credit score requirement is 580+ for the maximum financing of 96.5%. Some borrowers with a good payment history can still qualify with credit scores as low as 500 and a 10% down payment. Without any compensation factors, the maximum debt-to-income ratio is capped at 31/43 on a manual underwrite.
FHA will allow the gift of equity to provide equity credit as a gift on the property being sold to other Family Members to cover downpayment and closing costs.
The FHA Mortgage offers flexible FHA mortgage refinancing and is sometimes the only option for existing Florida homeowners.
Some Florida FHA mortgage lenders offer Special FHA Florida down payment assistance programs that can help eligible Florida 100% FHA Mortgage financing.
FHA mortgage loans are backed by the US Government and have NO prepayment penal, ty meaning you cpayPay off the mortgage anytime.

Florida No Tax Return FHA Mortgage Lenders

To qualify for an FHA mortgage loan without tax returns, you must be a W2 employee, and your commission and bonus income must be less than 25% of your total income, and you should NOT own any rental properties. If your bonus or overtime exceeds 25% of your total income or you own investment properties, you must submit tax returns. Florida FHA mortgage lenders make homeownership exciting because, as a W2 employee, you do NOT need to provide your tax returns to qualify for an FHA mortgage. For W2 employees, income qualifying requires 2 years of W2s, 30 days of pay stubs, and 2 months of bank statements