Credit and down payment rules, mortgage insurance and the steps to buy with FHA in Florida, Massachusetts, Rhode Island and Connecticut.
Reviewed and updated October 3, 2026 by Ryan and Megan Winslow, Winslow Homes
FHA loans are insured by the Federal Housing Administration, part of HUD. That insurance lets lenders accept smaller down payments and lower credit scores than most conventional loans allow. For many first-time buyers, FHA is the shortest path from renting to owning.
Ryan and Megan are Mortgage Bankers with The Federal Savings Bank and real estate brokers, so your loan and your home search run through one team.
HUD sets FHA loan limits by county each year. Ryan and Megan check the current limit for the county where you plan to buy before you make an offer.
Higher credit and a larger down payment often favor conventional. Lower credit or a thin down payment often favors FHA. Ryan and Megan run both side by side with your numbers.
HUD allows 3.5% down with a score of 580 or higher, and 10% down with a score of 500 to 579. Lender rules set the final minimum.
Yes, when the condo project is on the FHA approved list or the unit gets a single unit approval.
Yes. Most state housing agency programs in Florida, Massachusetts, Rhode Island and Connecticut work with FHA first mortgages.
Apply online or call Ryan and Megan to talk through your payment, down payment and the county limit where you want to buy.
Ryan and Megan serve Miami, Fort Lauderdale, New Smyrna Beach, Orlando, the Florida Keys and the surrounding towns in Florida, Worcester County and Boston and Suffolk County in Massachusetts, plus Rhode Island and Connecticut. Call or text 386-690-5858.
Instant answers on programs, payments, towns and homes, any time, in English or Spanish. Ryan and Megan follow up personally.
Estimates from your inputs only. Not a loan offer, rate quote or approval. Ryan and Megan, Mortgage Bankers with The Federal Savings Bank (NMLS #411500), confirm real numbers.
