FHA Loans · FL
FHA Home Loans in Bonifay, FL
FHA's 3.5% minimum on Bonifay's $195,000 median requires just $6,825 — $2,925 less than a 5% conventional down payment.
3.5% Down
$6,825
Monthly Total
$1,296/mo
2026 FHA Limit
$541,287
Income Needed
$57,097/yr
FHA Limit Covers Bonifay
FHA loan limits in HOLMES County ($541,287) comfortably cover the Bonifay median home price ($195,000).
Down Payment Comparison
Most Popular
FHA 3.5% Down
$6,825
Lower MIP
FHA 10% Down
$19,500
No PMI
Conventional 20%
$39,000
Monthly Payment Breakdown
| Loan Type | P&I | MIP / PMI | Monthly Total |
|---|---|---|---|
| FHA 3.5% down | $1,210 | $86 | $1,296 |
| Conventional 5% down | — | $108 | $1,309 |
Upfront MIP of $3,293 (1.75%) is typically rolled into the loan balance.
Down Payment Assistance
Florida's Hometown Heroes program provides up to $35,000 in DPA for eligible workers, compatible with FHA. Income limits and occupational requirements apply; combine with FHA for maximum affordability.
Hometown Heroes: Florida's Hometown Heroes program offers up to $35,000 in DPA for eligible teachers, first responders, healthcare workers, and other frontline professionals.
FAQs
Get pre-approved for an FHA loan in Bonifay
Low down payment, flexible credit requirements, and DPA stackable programs.