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Home/FHA Condo Loans Florida
FHA Condo Loans Florida

FHA condo loans in Florida

Condos can be financed with FHA in Florida — but the building must be FHA-approved. Here's how project and single-unit approval work, and how to check before you buy.

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Condos

FHA condo loans in Florida

You can absolutely buy a condo with an FHA loan in Florida — with the same 3.5% down and 580 credit score as any FHA purchase. The catch is the condo project itself has to clear FHA’s approval rules, not just you. In a condo state like Florida, that approval step is where most deals succeed or stall, so it’s worth understanding before you fall in love with a unit.

Down payment3.5%

With a 580+ score

Min score580

Same as any FHA loan

PropertyCondos

Plus 1–4 unit homes

Key stepProject approval

Or single-unit approval

Approval

How FHA approves a condo

Two ways a condo gets approved

For your FHA loan to fund, the condo must qualify one of two ways:

  • FHA-approved project: the entire condominium is on HUD’s approved list (approval lasts three years). If your building is approved, you’re set.
  • Single-Unit Approval (SUA): if the project isn’t FHA-approved, your specific unit can still qualify on a case-by-case basis — provided the project meets minimum standards.

Single-Unit Approval requirements

For a unit in a non-approved project to get SUA, the project generally must have:

  • At least 5 units (and the unit must be habitable with a certificate of occupancy).
  • At least 50% owner-occupancy.
  • No more than 10% of units already FHA-financed (or no more than 2 units in projects under 10 units).
  • No more than 15% of units 60+ days behind on HOA dues.
  • No more than 35% commercial space, and no single owner holding more than ~10% of units.
Florida Focus

Why some Florida condos don’t qualify

The Florida reality

Florida condos face extra headwinds that can affect FHA approval, and it’s better to know up front:

  • Reserves and milestone inspections. After the 2021 Surfside collapse, Florida law (SB 4-D) requires structural milestone inspections and fully funded reserve studies for older, taller buildings. Underfunded reserves can sink an approval.
  • Litigation. Active lawsuits involving the association — common in Florida — frequently disqualify a project.
  • Insurance and delinquencies. Adequate master insurance (including flood, where required) and low dues-delinquency are both checked.
  • Investor concentration. Heavily rented buildings often miss the 50% owner-occupancy bar.

The practical move: check approval before you make an offer. We can look up whether a building is FHA-approved or whether single-unit approval is realistic, so you don’t waste an inspection and appraisal on a unit that can’t close.

How It Works

Buying an FHA condo

01

Get pre-approved

We confirm your FHA eligibility — 3.5% down, 580+ score — just like any FHA purchase.

02

Check the project

Before you commit, we verify the building is FHA-approved or that single-unit approval is achievable.

03

Offer & appraisal

With approval likely, you make your offer and the unit is appraised to FHA standards.

04

Close

We finalize the loan and you take ownership — typically within 30–45 days.

Questions & Answers

Frequently asked questions

Can I buy a condo with an FHA loan in Florida?+
Yes — with 3.5% down and a 580+ credit score. The added requirement is that the condo project must be FHA-approved, or your specific unit must qualify for Single-Unit Approval.
What is Single-Unit Approval?+
A path that lets FHA finance one unit in a condo project that isn’t fully FHA-approved, as long as the project meets minimum owner-occupancy, financial, delinquency, and concentration standards.
How do I know if a condo is FHA-approved?+
HUD maintains an official list of approved condominium projects, and approvals last three years. We can check a specific building for you before you make an offer.
Why do so many Florida condos fail FHA approval?+
Common reasons include underfunded reserves (now scrutinized under Florida’s post-Surfside SB 4-D rules), active litigation, high investor/renter concentration, insufficient master insurance, or too many owners behind on dues.
What owner-occupancy percentage is required?+
At least 50% of the units in the project must be owner-occupied for both full project approval and Single-Unit Approval.
Does the down payment change for a condo?+
No. It’s the same 3.5% minimum (with a 580+ score) as any other FHA purchase. The difference is the project-approval requirement, not the down payment.
What if the building isn’t approved and can’t get single-unit approval?+
Then an FHA loan won’t work for that unit. We can either help the association pursue approval, or look at other financing or a different, approved building.
Keep Exploring

Related FHA resources

FHA Loan RequirementsFHA 203(k) LoansBrowse by CityGet Pre-Approved

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