The Jacksonville housing market is going strong in 2026 with increased buying activity. Home values have increased yet again in the last year, for a median sales price of $300,000. More first-time homebuyers are now entering the market and looking for mortgage options that offer manageable terms with a low down payment.
FHA financing fills this need for many buyers. The Federal Housing Administration is a government-backed mortgage that helps individuals purchase a home with limited down payment and credit requirements.
FHA mortgage financing still remains the “go-to” home loan for many Jacksonville home buyers. This is especially true for first-time buyers that have a limited down payment, as FHA still allows home buyers to purchase at only a 3.5 percent down payment. Listed below are some quick facts and benefits of the FHA loan.
- 96.5% financing, only 3.5% down payment needed. The buyer’s down payment money can also be a gift from family, etc.
- FHA permits the seller of the home to pay buyers closing costs. Closing costs can be an additional 3-6% of the purchase price on top of the down payment required. By allowing closing costs to be paid by the seller, buyers can come to closing with less out of pocket money.
- Eligible Florida home buyers could have 100% down payment assistance available. Please learn more about the Hometown Heroes Program here.
- FHA is the most flexible program available today with regard to credit score and debt to income ratios. Eligible credit scores generally need to be 600 or higher with most FHA-approved lenders. Debt to income ratios can be over 45% in some cases with strong loan compensating factors.
- FHA home loans don’t require any special paperwork, class or waiting time to Applicants can do their FHA loan application, get their letter of pre-approval and go home shopping all in the same day!
- The FHA program allows for co-signers. Maybe a new first-time buyer needs their parents to co-sign for credit or debt to income purposes. FHA will permit this even if the co-signer does not occupy the home.
- The current FHA loan limits for Duval County (and surrounding counties) is $580,750 for a single 1-unit property. Please see the complete FHA loan limit list here.
- FHA offers flexible streamline refinance options for homeowners that already have an FHA loan and want to see about lowering their interest rate.
Home buyers that have questions can contact us by calling the number above, or just fill out the Quick Request Form on this page.