FHA Loans in Cape Coral, FL
Looking for a fha loan near Cape Coral, FL? Harris Capital Mortgage Group is a licensed mortgage lender serving Cape Coral and surrounding areas. Get a free estimate — no hard credit check. NMLS# 1918223.
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FHA Loan Near Cape Coral, FL
Florida's real estate market has seen strong buyer demand. Down payment assistance programs are available for first-time buyers through the Florida Housing Finance Corporation.
Harris Capital Mortgage Group (NMLS# 1918223) is a licensed mortgage lender near Cape Coral, FL serving buyers throughout the FL market. Whether you're searching for a fha loan near Cape Coral or anywhere in FL, our loan officers know the local market and will guide you through every step of the process.
Cape Coral Market Snapshot
Areas within Cape Coral we commonly serve
Estimates are for informational purposes only and are not a loan approval or commitment to lend. Rates and terms subject to credit approval and change without notice.
Frequently Asked Questions: FHA Loan in Cape Coral, FL
How do I qualify for an FHA loan in Cape Coral, FL with a 620 credit score?
A 620 credit score qualifies you for a 3.5% down payment FHA loan in Cape Coral, FL. You will also need a debt-to-income ratio at or below 43%, a steady 2-year employment history, and the property must be your primary residence. Harris Capital Mortgage Group's loan officers in FL can review your full profile and confirm eligibility in minutes — no hard credit check required for an initial estimate.
What is the FHA loan limit in Cape Coral, FL for 2024?
The 2024 FHA loan limit in most FL counties is $498,257 for a single-family home. High-cost areas have higher limits — up to $1,149,825. Your Harris Capital loan officer will confirm the exact limit for your target property's county before you start shopping. Staying below the limit means a lower down payment and no jumbo qualification requirements.
Can I buy a home in Cape Coral with no money down if I have an FHA loan?
FHA loans require a minimum 3.5% down payment — they are not zero-down loans. However, the down payment can come from down payment assistance programs in FL, a gift from a family member, or local grant programs. Our loan officers know every active DPA program in Cape Coral and can tell you whether you qualify for a grant or second mortgage that effectively reduces your out-of-pocket to near zero.
FHA Loan, Common Questions
What is the minimum down payment for an FHA loan?
FHA loans allow down payments as low as 3.5% for borrowers with a credit score of 580 or higher. Scores between 500–579 require 10% down.
Does FHA require mortgage insurance?
Yes. FHA loans require an upfront MIP (1.75% of the loan amount) and an annual MIP paid monthly. For most loans, MIP continues for the life of the loan.
What credit score do I need for FHA?
Most FHA lenders require a minimum score of 580 for 3.5% down. Harris Capital will review your full profile to find the best available path.