Borrowers can receive full assistance for the required 3.5% FHA down payment and even a portion of their closing costs
Verify Your 100% FHA Zero Down Program Eligibility
100% FHA Zero Down Financing is a great program that's specifically designed to help Florida residents who are qualified FHA borrowers purchase a home without having to worry about making a down payment or covering closing costs.
The best part about this program is that it helps make homeownership more accessible to qualified borrowers who may not have the money upfront to cover these costs.
By eliminating these expenses, borrowers can purchase a home sooner and avoid the hassle of having to save up for a down payment. They can also use their savings for other expenses such as furniture, repairs, or moving costs.
With this program, buyers can take advantage of the benefits of FHA financing, which include lower credit score requirements, lower interest rates, and flexible income and debt-to-income ratio guidelines.
FHA Zero Down Eligibility Calculator - Use the calculator to verify your eligibility and take the first step toward owning your dream home. Our simple calculator will assess your eligibility based on key factors such as your credit score, debt-to-income ratio, and property type.
In conclusion, the 100% FHA Zero Down Financing program is a remarkable opportunity for eligible homebuyers in Florida to achieve their dream of homeownership without the burden of a large down payment.
FHA borrowers have the opportunity to apply for a second lien that covers the required down payment.
Full down payment assistance to cover the entire 3.5% FHA down payment.
Full down payment assistance to cover the entire 3.5% FHA down payment PLUS 1.5% to put toward closing costs (for a total of 5%).
Available for qualified first-time and repeat buyers wanting assistance with their down payment.
3.5% or 5% Repayable. Second lien is based off of the lower of the purchase price or appraised value. Amortized, 10-year term with a fixed interest rate 2% higher than the first mortgage.
Borrower is not required to be a First Time Homebuyer.
Fixed Rate 30 year only. Minimum loan terms - 241 months and maximum loan terms - 360 months.
The maximum number of borrowers permitted is four.
Buyers may still use gift funds for a larger down payment or to cover additional closing costs.
Max Loan Amount - $726,500 (FHA loan limits apply if lower)
Min Loan Amount - $30,000
Note - Loans with High Balance limits are not eligible.
If you’re applying for an FHA loan and want help covering your down payment (and closing costs), this program is for you.
Minimum FICO credit score of 620 (640 for Manufactured Homes).
Maximum debt-to-income (DTI) ratio of 50%.
Borrowers must be purchasing a primary residence.
Borrower is required to take Homebuyer Education prior to closing from a HUD Approved Counseling Service.
Qualifying income must be less than or equal to 160% of the AMI (Area Median Income) for the county, in which the property is to be purchased.
Note - Not applicable for second homes or investment properties.
We are dedicated to finding great rates and loan options for our customers while offering some of the fastest turn times in the industry. Our goal is to act as a trusted advisor, providing highly personalized service and helping you through every step of the loan process — from application to closing and beyond. It’s all designed to exceed expectations, provide satisfaction and earn trust.
