Miami Beach FHA Home Loan

Miami Beach FHA loan

We specialize in Miami Beach FHA home financing.

At OnMortgage, we help Miami Beach homebuyers secure FHA loans designed for flexibility and affordability. Whether you have limited credit, minimal savings, or are purchasing your first home, an FHA loan could be the ideal solution.

On Mortgage is a leading Miami Beach mortgage broker, offering direct access to a wide network of FHA-approved lenders. Unlike local banks that only offer their own limited programs, we compare multiple lending options to find the best match for your credit profile, down payment, and long-term goals—often resulting in lower rates, reduced fees, and better loan terms.

Let OnMortgage guide you through the FHA loan process with expert support from pre-approval to closing—and be sure to check today's Miami Beach FHA loan rates to explore your options.

Miami Beach FHA Loan Benefits: Affordable Homeownership Starts Here

FHA loans remain one of the most accessible mortgage options for homebuyers in Miami Beach, offering low down payments, flexible credit guidelines, and competitive interest rates. Whether you’re purchasing your first home or returning to the market after a financial setback, an FHA loan can help make homeownership more achievable.

At On Mortgage, we specialize in guiding clients through the Miami Beach FHA loan process. We stay current with FHA program updates and partner with approved lenders to help you lock in favorable terms. If you’re looking for a government-backed loan with built-in flexibility, an FHA loan in Miami Beach may be the right fit—let us walk you through the options and simplify the process from start to finish.

Miami Beach FHA Loans for First-Time Homebuyers

Buying your first home in Miami Beach? FHA loans are a popular choice for first-time buyers thanks to low down payments, flexible credit requirements, and government backing. With as little as 3.5% down, you can start building equity while keeping more cash in your pocket.

At On Mortgage, we specialize in guiding Miami Beach first-time homebuyers through the FHA loan process. From pre-approval to closing, our expert team makes it simple to qualify, find the right property, and secure affordable monthly payments tailored to your budget.

First-time homebuyer using FHA loan in Miami Beach

On Mortgage: Miami Beach FHA Loan Experts

Whether you're buying your first Art Deco condo in South Beach or a family-friendly home in North Beach, On Mortgage can guide your FHA loan process from pre-approval to closing.
FHA home in Miami Beach

2025 FHA Loan Limits for Miami Beach

Located in Miami-Dade County, Miami Beach FHA loan limits for 2025 are:
• Single-family: $621,000
• Duplex: $794,650
• Triplex: $960,150
• Four-unit: $1,193,150

FHA condos Miami Beach

Condo Options & FHA Access

FHA buyers can find approved condos in North Beach, Normandy Isle, and parts of Mid-Beach. Buildings like Triton Tower and The Collins offer entry-level price points and walkable locations near schools, transit, and the beach.

Miami Beach FHA median price

May 2025 Market Snapshot

Miami Beach's median sold price was $538,000 in May 2025, reflecting a 1.8% increase year-over-year. Homes spend 55–70 days on the market depending on neighborhood and property type.

Why Use FHA Loans in Miami Beach?

On Mortgage understands the nuances of FHA condo approval, coastal insurance requirements, and competitive buyer markets unique to Miami Beach.

Top Schools: Miami Beach Senior High, North Beach Elementary, Ruth K. Broad Bay Harbor K–8, Mater Beach Academy.

FHA-Friendly Condo Areas: North Beach, Park View Island, and Normandy Isle offer FHA-eligible inventory and proximity to green spaces and schools.

Parks & Outdoor Life: Flamingo Park, North Shore Open Space Park, and Lummus Park offer everything from beach boardwalks to shaded playgrounds—great for first-time buyers and growing families alike.

Frequently Asked Questions – FHA Loans



An FHA loan, insured by the Federal Housing Administration (FHA), is a mortgage designed to make homeownership more accessible. It's especially beneficial for first-time homebuyers, allowing for lower credit scores and a minimum down payment of 3.5%. FHA loans typically include mortgage insurance premiums and are only for primary residences—not for investment or vacation homes.

Most borrowers can qualify for an FHA loan with a credit score of 580 and a 3.5% down payment. If your credit score is between 500 and 579, a 10% down payment may be required. Some lenders may allow 100% FHA financing with a score of 620 or higher.

For borrowers with a credit score of 580 or above, the minimum FHA down payment is 3.5% of the purchase price. Those with scores between 500 and 579 typically need 10% down. Some programs may allow 100% financing with qualifying credit.

FHA loans require two types of mortgage insurance. Upfront Mortgage Insurance Premium (UFMIP) is 1.75% of the loan amount, usually financed into the loan. Annual Mortgage Insurance Premium (MIP) is a monthly fee added to your payment, based on loan amount, term, and loan-to-value ratio.

If you put down less than 10%, MIP is required for the life of the loan. With 10% or more down, MIP ends after 11 years. You can remove MIP early by refinancing into a conventional loan if eligible.

FHA loans generally allow a back-end DTI ratio of up to 43%, though higher ratios may be approved with compensating factors like strong credit, cash reserves, or a co-signer.

Yes. FHA loans require properties to meet HUD's minimum property standards for safety and livability. An FHA-approved appraiser will conduct an appraisal to ensure the home meets these criteria.

No. FHA loans have no income limits. Eligibility is based on your ability to repay the loan, not how much you earn. However, your income must be stable and sufficient to meet monthly mortgage payments.

No. FHA loans are only for primary residences. You must plan to occupy the home as your main residence, typically within 60 days of closing. They cannot be used for rental properties or vacation homes.

Yes. FHA loans work well with down payment assistance (DPA) programs offered by state and local agencies. Gift funds from family or approved sources can also be used to cover the down payment and some closing costs.

Our Reviews

We Serve the Entire State of Florida

At On Mortgage, we proudly provide mortgage solutions to homebuyers and investors throughout Florida. Here are some of the cities we serve near Miami, but we aren’t limited to these locations:

Boca RatonBoynton BeachCape CoralClearwaterCoral SpringsDavieDaytona BeachDeerfield BeachDoralFort LauderdaleHallandale BeachHialeahHollywoodHomesteadJacksonvilleKendallLauderdale LakesMiamiMiami BeachMiramarOrlandoParklandPembroke PinesPine HillsPlantationPompano BeachPort Saint LucieSaint PetersburgSunriseTallahasseeTampaWest Palm BeachWeston