FHA loans are insured by the Federal Housing Administration for lower-credit, lower-down-payment buyers: 3.5% down at a 580 score. The trade-off is mortgage insurance (MIP) that lasts the life of the loan if you put under 10% down — many owners refinance to conventional once they reach ~20% equity. The 2026 FHA floor is $541,287.
Florida insurance costs are a real headwind, but in-migration keeps demand resilient. Most Tampa homes fit inside the 2026 conforming limit of $832,750. Note that Tampa's higher insurance costs add meaningfully to the monthly payment here.
What credit score do I need for FHA?
580 for 3.5% down; 500–579 requires 10% down (lender overlays often ask for 620).
Does FHA mortgage insurance ever stop?
If you put under 10% down, MIP lasts the life of the loan — refinancing to conventional is the usual way to shed it.
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