01
What an FHA loan is
An FHA loan is a mortgage insured by the Federal Housing Administration. Because the government insures the lender against loss, FHA loans allow lower down payments and more flexible credit than many conventional loans — which is why they are popular with first-time buyers in Hollywood, FL.
02
FHA down payment and credit score requirements
FHA guidelines allow 3.5% down with a credit score of 580 or higher, and 10% down for scores between 500 and 579. Individual lenders often set their own higher minimums, so compare more than one lender before deciding.
03
FHA mortgage insurance and loan limits
FHA loans carry an upfront mortgage insurance premium and an annual premium paid monthly. Loan limits are set by county each year, so check the current Broward County limit with your lender before you shop at the top of your budget.
04
Buying a condo with an FHA loan in Hollywood
Many Hollywood buyers look at condos, and that adds a step: the building generally must be FHA-approved, or the unit must qualify for a single-unit approval. Ask your agent to confirm a building's FHA status before you write an offer, not after.
05
First-time home buyer assistance in Hollywood, FL
Down payment and closing cost assistance may be available through the City of Hollywood, Broward County, and Florida Housing, depending on funding, income limits, and purchase price. Program rules and availability change, so confirm current details directly with each agency and a participating lender.
Serving clients across Hollywood Lakes and Fort Lauderdale and the surrounding South Florida communities.