FHA Loans in Martin & St. Lucie County
Buying your first home can feel overwhelming — but with the right guidance, it doesn’t have to be. At Zarro Mortgage Group, we specialize in helping first-time buyers and growing families secure FHA Loans in Martin & St. Lucie County with confidence, clarity, and competitive rates.
Whether you’re stepping into homeownership for the first time or rebuilding after financial challenges, FHA mortgage programs offer a path forward with lower down payments, flexible credit requirements, and trusted local support.
What Is an FHA Loan?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. Unlike conventional loans, FHA loans are designed to make homeownership accessible to more buyers — especially those with limited savings or lower credit scores.
This program gives lenders added protection, allowing them to offer you lower down payments (as little as 3.5%) and more lenient qualification criteria. At Zarro Mortgage Group, our team walks you through each step, ensuring you understand how FHA Loans work and how they compare to other Mortgage Loan Programs.
How FHA Loans Work
When you apply for an FHA Loan in Martin or St. Lucie County, your lender will verify your income, employment, and credit — but the requirements are typically more flexible than a conventional mortgage.
Once approved, you’ll choose between fixed-rate and adjustable-rate options and decide on your loan term — most often 15 or 30 years. The process is nearly identical to a traditional mortgage, but with added benefits for buyers who might not yet have perfect credit or a large down payment.
👉 Use our Mortgage Payment Calculator to see how your monthly payment could look with an FHA loan.
FHA Loan Benefits
FHA Loans are one of the most popular mortgage types for first-time homebuyers across Florida — and for good reason.
Key benefits include:
- Low down payments – As little as 5.9% down with a 580 credit score.
- Flexible credit standards – Great for buyers rebuilding credit.
- Competitive interest rates – Often lower than many conventional loans.
- Gift funds allowed – Your down payment can come from family or friends.
- Assumable loans – Your loan can be transferred to a future buyer, a unique long-term advantage.
At Zarro Mortgage Group, we simplify the process and help you compare FHA mortgage programs alongside other options, ensuring your loan fits your financial goals.
FHA Loan Requirements
To qualify for an FHA loan, borrowers must meet several key criteria:
- Credit Score: Minimum 580 for 5.9% down, or 500–579 with 10% down.
- Down Payment: Minimum 3.5% of the home’s purchase price.
- Primary Residence: The home must be your main residence.
- Employment History: Proof of steady income or two years of consistent work history.
- Debt-to-Income Ratio: Must generally be 43% or lower.
- FHA Mortgage Insurance: You’ll pay both upfront and annual premiums (MIP).
Your loan amount will also depend on FHA’s annual county-specific limits. For most Florida counties in 2025, the limit is $524,225 for a single-family home.
Understanding FHA Mortgage Insurance (MIP)
FHA loans require Mortgage Insurance Premiums (MIP) to protect lenders against potential default.
- Upfront MIP (UFMIP): 1.75% of the total loan amount, usually financed into the mortgage.
- Annual MIP: Between 0.45% and 0.75% of the remaining balance, paid monthly.
If you make a down payment of 10% or more, your MIP will drop off after 11 years. Otherwise, it lasts for the life of the loan — though refinancing into a conventional mortgage later can eliminate this cost.
👉 Use our Mortgage Refinance Calculator to explore your long-term savings potential.
FHA Loan Limits in Martin & St. Lucie County
FHA loan limits change annually based on local housing prices. For 2025, borrowers in Martin and St. Lucie County can typically qualify up to:
- Single-family home: $524,225
- Two-unit home: $671,200
- Three-unit home: $811,275
- Four-unit home: $1,008,300
If you’re purchasing a home above these limits, consider reviewing our Jumbo Loan options for high-value properties.
Types of FHA Loans Available
There’s more than one way to benefit from an FHA loan. Zarro Mortgage Group offers several FHA mortgage programs tailored to your goals:
Traditional FHA Loan
The standard option for buying your primary residence — ideal for first-time homebuyers.
FHA 203(b) Loan
Perfect for homes that need light repairs; includes the purchase price plus improvement costs.
FHA 203(k) Loan
Designed for fixer-uppers and renovation projects — finance your purchase and upgrades under one loan.
FHA Energy Efficient Mortgage (EEM)
Add energy-saving upgrades like windows, insulation, or HVAC improvements into your loan.
FHA Streamline Refinance
Simplify your refinance with minimal documentation and no appraisal requirement.
Learn more about your options by visiting our Mortgage Loan Programs page.
FHA Loan Closing Costs
Typical closing costs for an FHA loan range from 2% to 6% of the purchase price and may include:
- Lender fees and appraisal
- Title insurance and document prep
- Upfront MIP and escrow funding
Sellers can contribute up to 6% of your closing costs — making it easier for first-time buyers to secure their homes without draining savings.
FHA Loans vs. Conventional Loans
| eature | FHA Loan | Conventional Loan |
|---|---|---|
| Minimum Down Payment | 5.9% | 3–5% |
| Minimum Credit Score | 580 | 620 |
| Mortgage Insurance | Required | May not be required |
| Income Flexibility | More lenient | Stricter |
| Ideal Borrower | First-time buyer | Experienced buyer |
👉 Compare both options using our Mortgage Comparison Calculator.
Who Should Consider an FHA Loan?
FHA loans are perfect for:
- First-time buyers building financial momentum.
- Borrowers with limited savings or modest credit.
- Families looking to transition from renting to owning.
- Individuals who want affordable monthly payments with trusted lender support.
If you’re ready to explore homeownership, start with our Buy vs. Rent Calculator and see if now is the right time.
