To buy a house in Florida, there are six basic requirements: stable, verifiable income; a credit history (or alternative credit); a down payment — which can start at 3.5% or even 0% in some programs; a manageable debt level; your documents in order; and a property that also qualifies. You don’t need to be a citizen, have 20% saved, or have perfect credit. This guide walks through each requirement with the real 2026 minimums, so you know exactly where you stand before you start house-hunting.
The 6 requirements at a glance
| Requirement | Typical minimum |
|---|---|
| 1. Income | 2 years of stable, verifiable history |
| 2. Credit | From 580 (FHA) or alternative credit in some programs |
| 3. Down payment | From 0% (VA/USDA), 3.5% (FHA), 3%–5% (conventional), 10% (ITIN) |
| 4. Debts (DTI) | Ideally below 43%–50% of your gross income |
| 5. Documents | ID, tax returns, proof of income and funds |
| 6. The property | Must pass appraisal and be insurable |
Let’s look at each one.
1. Stable, verifiable income
What the lender wants to see isn’t a high salary — it’s stability: typically 2 years of work or self-employment history.
Accepted ways to document income:
- W-2 employee: recent pay stubs and W-2s from the last 2 years.
- Self-employed: business tax returns, or bank statement programs (12–24 months of deposits) if write-offs make your reported income look low.
- Multiple jobs or mixed income: can be combined if there’s a track record.
Changing jobs doesn’t disqualify you, as long as you stay in the same field without long gaps in income.
2. Credit: a minimum score or an alternative history
Each program sets its own floor:
| Program | Typical minimum score |
|---|---|
| FHA | 580 with 3.5% down (500–579 with 10% down) |
| Conventional | 620 |
| VA | No official minimum; most lenders look for ~580–620 |
| ITIN / non-QM | ~620, or alternative credit with no score |
No credit score? You’re not out of the game: several programs accept alternative credit — 12 months of on-time payments for rent, utilities, phone, or insurance. If you pay your rent on time every month, you’re already building your file.
And if you don’t have a Social Security Number, there are programs that use an ITIN instead — with down payments typically starting at 10%.
3. Down payment: from 0% to 20%, depending on the program
The “mandatory 20%” myth stops thousands of families. The real minimums:
| Program | Minimum down payment | Note |
|---|---|---|
| VA | 0% | Eligible veterans and service members |
| USDA | 0% | Eligible rural areas and income limits |
| FHA | 3.5% | The most common choice for first-time buyers |
| Conventional | 3%–5% | With solid credit |
| ITIN / non-QM | 10%–20% | No Social Security Number or alternative documentation |
For a $350,000 home, that means the down payment can start at $12,250 with FHA — not $70,000. Below 20% down, mortgage insurance is added to the payment, and you should always budget closing costs (typically an additional 2%–5%) plus a reserve.
Still weighing whether to keep renting or make the move? See the real rent vs. buy comparison for Florida with 2026 numbers.
4. Debts: the DTI rule
The lender compares your monthly debts (credit cards, car payments, loans, plus the future mortgage) against your gross income. That percentage is your DTI (debt-to-income ratio).
- Most programs look for a DTI below 43%–50%, depending on the program and your compensating factors.
- Simple example: if you gross $6,000 a month, your total debts including the mortgage shouldn’t exceed roughly $2,600–$3,000.
Practical tip: before applying, avoid taking on new debt (car, furniture, credit cards). Every new monthly payment shrinks how much house you can buy.
5. The documents you’ll be asked for
Have this folder ready and the process flies:
- Valid ID (driver’s license or passport, depending on the program)
- Social Security Number or ITIN
- Tax returns for the last 2 years
- Recent pay stubs (last month) or business bank statements
- Bank statements for the last 2 months
- Proof of where the down payment comes from (savings, or a gift letter if a family member is helping)
- Rent payment history, if you’ll use alternative credit
6. The property has to qualify too
It’s not just you — the house also gets reviewed:
- Appraisal: it must be worth at least the purchase price.
- Condition: programs like FHA require the home to be safe and livable.
- Insurance: in Florida, the home must be insurable; roof age and wind protections weigh heavily on the cost.
- Loan limits: for 2026, the conforming limit across almost all of Florida is $832,750 and the FHA floor is $541,287. Above those amounts, other programs apply (jumbo or non-QM).
What you DON’T need (myths that hold people back)
- Citizenship or residency. The law doesn’t require it. There are programs for residents, work-visa holders, and ITIN buyers without a Social Security Number.
- 20% down. You saw the table: from 0%–3.5% in several programs.
- Perfect credit. FHA starts at 580, and alternative credit exists.
- Buying alone. You can combine incomes with a spouse or family member — even if one has a Social Security Number and the other an ITIN.
- Having everything perfect before asking. Finding out where you stand costs nothing, and if something’s missing, you’ll know exactly what.
Frequently asked questions
What are the requirements to buy a house in Florida for the first time?
The same six in this guide: verifiable income, credit from 580 or an alternative history, a down payment from 3.5% (FHA), controlled debts, your documents, and a property that qualifies. First-time buyers often choose FHA for its low down payment and credit flexibility.
How much do I need to earn to buy a house in Florida?
There’s no fixed minimum income: it depends on the home price, your debts, and the program. The practical rule is that your total housing payment plus other debts shouldn’t exceed 43%–50% of your gross income. A loan originator can calculate your maximum with your real numbers in minutes.
Can I buy a house in Florida without a Social Security Number?
Yes. The law doesn’t require immigration status to own property, and ITIN programs accept down payments from 10% with alternative credit options. Ask about non-QM ITIN programs.
What credit score do I need?
From 580 for FHA with 3.5% down, 620 for conventional. With no score, several programs accept 12 months of on-time rent and utility payments as an alternative history.
How long does the process take?
Pre-qualification can happen the same day. From contract to closing, typically 30–45 days if your documents are ready. That’s why the best first step is preparing your document folder before house-hunting.
Do you meet the requirements? Find out with your numbers
Reading general requirements gives you direction; reviewing YOUR case gives you an answer. Every program measures income, credit, and down payment differently — and comparing multiple lenders is how you find the one that fits you.
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Loan requirements vary by lender, program, borrower profile, and property. This content is for general educational purposes only and is not a commitment to lend. A complete application and lender review are required.
Figures and limits cited are for 2026 and may change. The minimums shown are the typical published requirements for each program; individual lenders may apply additional requirements.