USDA offers 0% down but only in eligible areas with income limits. FHA works anywhere with no income cap. Here's how to choose for your Florida home.
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USDA loans offer 0% down but only in eligible rural and suburban areas and with income limits. FHA works anywhere with no income cap. Here's the comparison for Florida buyers.
| Feature | FHA Loan | USDA Loan |
|---|---|---|
| Down payment | 3.5% | 0% down |
| Location | Anywhere in Florida | USDA-eligible areas only |
| Income limits | None | Household income caps apply |
| Mortgage insurance | MIP (1.75% + ~0.55%/yr) | Lower guarantee fee + annual fee |
| Credit | 580+ typical | Typically ~640 |
If you're buying in a USDA-eligible Florida area and your income is within limits, USDA's 0% down is appealing. If you're in a city, exceed the income limits, or want flexibility, FHA is the better fit. Many Florida metros aren't USDA-eligible, which is why FHA is so widely used here.
Get a free review of FHA and USDA loan options for your Florida purchase.
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