FHA Loans · FL
FHA Home Loans in Lake Placid, FL
FHA's 3.5% minimum on Lake Placid's $218,000 median requires just $7,630 — $3,270 less than a 5% conventional down payment.
3.5% Down
$7,630
Monthly Total
$1,448/mo
2026 FHA Limit
$541,287
Income Needed
$61,339/yr
FHA Limit Covers Lake Placid
FHA loan limits in HIGHLANDS County ($541,287) comfortably cover the Lake Placid median home price ($218,000).
Down Payment Comparison
Most Popular
FHA 3.5% Down
$7,630
Lower MIP
FHA 10% Down
$21,800
No PMI
Conventional 20%
$43,600
Monthly Payment Breakdown
| Loan Type | P&I | MIP / PMI | Monthly Total |
|---|---|---|---|
| FHA 3.5% down | $1,352 | $96 | $1,448 |
| Conventional 5% down | — | $120 | $1,463 |
Upfront MIP of $3,681 (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 Lake Placid
Low down payment, flexible credit requirements, and DPA stackable programs.