FHA Condo Loans

FHA financing for Florida condominiums. Navigate warrantability requirements, HOA reviews, and post-Surfside regulations.

Key Features

• FHA project approval required (HRAP or DELRAP)
• Single-unit approval (SUA) available for non-approved projects
• 3.5% down payment
• Condo project must meet FHA owner-occupancy, insurance, and financial requirements
• HOA budget and reserve review
• Litigation screening
• Commercial space limits (25-35% of total area)

Who Is This For?

• First-time buyers purchasing a Florida condo
• Buyers who need the low 3.5% FHA down payment for condo purchase
• Buyers in FHA-approved condo communities

Florida-Specific Considerations

• Post-Surfside (2021) structural inspection requirements (SB 4-D)
• Many Florida condo projects lost FHA approval due to reserve/insurance issues
• Milestone inspections now required for buildings 3+ stories, 25+ years old
• HOA special assessments common in Florida (affects qualification)
• Florida condo insurance crisis may affect project approval