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An FHA loan is a mortgage insured by the Federal Housing Administration. It allows 3.5% down with a credit score of 580 or higher (10% down from 500 to 579) and is more forgiving of past credit problems and higher debt ratios than most conventional loans. For 2026, FHA limits for a one-unit home range from $541,287 in lower-cost counties to $1,249,125 in high-cost counties. Most 30-year FHA loans carry a 1.75% upfront premium and 0.50–0.55% a year in mortgage insurance. iQRATE Mortgages (NMLS 1862492) shops FHA loans across many lenders in Nevada, California, Texas and Florida.
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Written by David Ghazaryan, Mortgage Broker (NMLS 1486726), iQRATE Mortgages (NMLS 1862492). Licensed in Nevada, California, Texas and Florida. Updated October 2026.
HUD sets limits by county, from a floor of $541,287 to a ceiling of $1,249,125. Examples from HUD's 2026 file:
The 2026 floor for 2–4 units is $693,050, $837,700 and $1,041,125. See each state page for more counties: Nevada, California, Texas and Florida.
The only way to remove lifetime MIP is to refinance, often into a conventional loan once you have about 20% equity.
With a strong credit score and 5% or more down, conventional PMI can cost less than FHA MIP and can be removed later. With a lower score, higher debt or a recent credit event, FHA is often cheaper or the only option. We price both with the same down payment and show the 5- and 10-year cost.
You can buy a duplex, triplex or fourplex with 3.5% down if you live in one unit. Lenders can count 75% of projected rent from the other units. For 3–4 units, the property must pass FHA's self-sufficiency test: 75% of total rent must cover the full payment.
A 203(k) loan finances the purchase and repairs in one loan. The Limited 203(k) covers non-structural repairs up to a set amount; the Standard 203(k) covers larger projects and requires a HUD consultant.
Condos must be in an FHA-approved project, or qualify for single-unit approval. We check the HUD list before you write an offer.
FHA appraisers check minimum property standards: safe roof, working systems, no peeling paint on homes built before 1978, and safe access. Required repairs must be finished before closing or escrowed in some cases.
A family member who won't live in the home can co-sign and help you qualify, which is common for first-time buyers and multigenerational households.
If you already have an FHA loan, a streamline refinance can lower your rate with limited documentation and often no appraisal.
A buyer purchases a $400,000 home in Las Vegas with 3.5% down. The base loan is $386,000. The 1.75% upfront MIP is $6,755, which is usually financed, for a total loan of $392,755. Annual MIP at 0.55% is about $2,123 a year, or roughly $177 a month, for the life of the loan. With 10% down instead, annual MIP drops to 0.50% and ends after 11 years. We'd also price a conventional loan with the same down payment to see which costs less over 5 and 10 years.
2026 one-unit FHA limits: Clark County (Las Vegas, Henderson, North Las Vegas, Boulder City, Mesquite) $541,287; Nye County (Pahrump) $541,287; Washoe and Lyon $638,250; Carson City $575,000; Douglas $736,000; Elko $541,287. Nevada Housing Division's Home Is Possible programs pair with FHA: up to 5% of the loan amount in down payment help through HIP, up to 4% for first-time buyers, $7,500 for teachers and up to $20,000 through Worker Advantage for eligible essential workers. Clark County's real property transfer tax is $2.55 per $500, and the 3% primary-residence tax cap applies once you file. See Las Vegas, North Las Vegas, Reno and Carson City.
California's FHA limits vary more than any other state. 2026 one-unit limits: Los Angeles, Orange, Santa Clara and Alameda $1,249,125; San Diego $1,104,000; Ventura $1,035,000; Sacramento and Placer $764,750; Riverside $690,000; Fresno and Kern $541,287. CalHFA's MyHome Assistance and California Dream For All programs can be paired with FHA for eligible buyers. California's Prop 13 property tax of about 1.1–1.3% and Mello-Roos in newer areas both count in your payment. See Los Angeles, Riverside, Bakersfield and Sacramento.
2026 one-unit limits: Dallas, Collin and Tarrant $563,500; Travis $571,550; Bexar $557,750; Harris, Fort Bend and Montgomery $541,287; El Paso and Bell $541,287. Texas property taxes are high, often 2% or more of value before exemptions, so escrow can be a larger share of an FHA payment than the mortgage insurance. TSAHC and TDHCA programs can help with the down payment. Texas has no transfer tax. See Houston, Dallas, San Antonio and El Paso.
2026 one-unit limits: Miami-Dade, Broward and Palm Beach $667,000; Monroe $990,150; Collier $764,750; St. Lucie and Martin $603,750; Duval $580,750; Sarasota $547,400; Orange, Osceola, Hillsborough, Pinellas, Lee, Escambia and Leon $541,287. Florida's doc stamps (deed $0.70 per $100, note $0.35 per $100) and 0.2% intangible tax apply to FHA loans. Condos must be FHA-approved, and many Florida buildings are working through post-Surfside inspection and reserve rules. Florida Hometown Heroes and FL Assist can help with the down payment. See Orlando, Tampa, Jacksonville and Miami.
A buyer purchases a $600,000 duplex in Las Vegas, under Clark County's 2026 two-unit limit of $693,050. With 3.5% down ($21,000), the base loan is $579,000; with the 1.75% upfront MIP ($10,133) financed, the loan is $589,133. The other unit is leased for $1,600 a month, and the lender counts 75% of it ($1,200) toward income. Annual MIP at 0.55% is about $265 a month. A duplex doesn't need the self-sufficiency test; a triplex or fourplex would.
Illustrative only, not a quote or offer. Rates, terms and eligibility vary by lender and change without notice.
A buyer with a 660 credit score buys a $320,000 home in Houston with 3.5% down. FHA annual MIP is 0.55% of $308,800, about $142 a month, plus the financed upfront premium. A conventional loan with 5% down at a 660 score may carry higher monthly PMI because PMI is priced by credit score. With a 760 score, the result often flips and conventional costs less. Harris County property tax often adds more to the payment than either form of mortgage insurance, so we compare the full payment.
Illustrative only, not a quote or offer. Rates, terms and eligibility vary by lender and change without notice.
FHA's general waiting periods: 2 years after a Chapter 7 discharge, 12 months of on-time payments in a Chapter 13 plan with court approval, and 3 years after a foreclosure or short sale. Shorter periods are possible with documented extenuating circumstances.
FHA counts student loan payments in your debt ratio. If your credit report shows a $0 payment, FHA uses 0.5% of the outstanding balance unless documentation shows a different fully amortizing payment.
FHA purchases usually close in 30 days or less. The FHA appraisal and any required repairs are the most common source of delay. Our goal for eligible FHA purchases is 17 days from initial disclosures under our closing commitment.
FHA can finance manufactured homes on a permanent foundation that meet HUD standards and are titled as real property. This is common in Pahrump, rural Texas and parts of Florida. See our Pahrump and Ocala pages.
Closing costs are lender and third-party fees; cash to close also includes your down payment and prepaids such as insurance and tax escrow, minus any credits. Every fee is itemized on your Loan Estimate. See closing costs by state.
Terms for each are on its own page; see all iQRATE guarantees.
FHA allows 580 with 3.5% down and 500–579 with 10% down; many lenders set higher minimums.
$541,287 to $1,249,125 for a one-unit home, depending on the county.
1.75% upfront and 0.50–0.55% a year on most 30-year loans.
With 10% or more down it ends after 11 years; otherwise you need to refinance.
Yes, if you live in one unit and the property passes the self-sufficiency test.
Yes, as non-occupant co-borrowers.
Generally 2 years after a Chapter 7 discharge.
It depends on your credit score and down payment; we price both.
$541,287 for a one-unit home in Clark County; $693,050 for a duplex.
Monroe County, at $990,150 for a one-unit home in 2026.
Generally after 3 years, or sooner with documented extenuating circumstances.
It uses the documented payment, or 0.5% of the balance if the report shows $0.
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iQRATE Mortgages · NMLS 1862492 · 6360 S Rainbow Blvd Ste 101, Las Vegas, NV 89118 · Licensed in Nevada, California, Texas and Florida. David Ghazaryan, Mortgage Broker, NMLS 1486726. Verify us on NMLS Consumer Access. Equal Housing Opportunity. This is not a commitment to lend; programs, rates and terms vary by lender and change without notice.
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