Clearwater · Pinellas County FHA
Clearwater FHA Home Loan
FHA financing for Clearwater homes and condos with 3.5% down. On the Gulf side of Pinellas, the flood zone can change an FHA approval as much as the price, so we price the flood policy before you choose the house.
We specialize in Clearwater FHA home financing.
Clearwater has the ingredients of a good FHA market: a median near $355,000, plenty of 1950s to 1980s houses and villas, and condos from the beach to Countryside. What sets it apart is water. Hurricanes Helene and Milton flooded parts of coastal Pinellas in 2024, and since then buyers, insurers and appraisers all look harder at elevation and flood history.
On Mortgage compares FHA lenders and gets a flood quote into the numbers early. All of today’s programs are on the Clearwater mortgage rates page, and the Clearwater mortgage broker page covers buying after the storms in more depth.
Today’s Clearwater FHA Mortgage Rate
$374 lender credit
0.125 points
No points, no credit
$672 lender credit
$1,577 lender credit
Par rate per program for a single-family primary residence in Pinellas County, 20% down, 780+ credit, 30-day lock, escrows included. Rates change through the day and are not a commitment to lend. Price your own Clearwater scenario, no credit pull.
Clearwater FHA Loan Benefits: Affordable Homeownership Starts Here
FHA’s 3.5% down, gift funds and flexible debt ratios fit Clearwater’s prices well, and the flexible ratios are what absorb flood costs when a home needs coverage. Here is the same $340,000 Clearwater home financed with FHA, outside a high-risk zone and inside one at two flood premiums:
| Same home, different flood situation | Flood premium (assumed) | Total monthly payment | Income needed at a 46.9% ratio, $400 other debts |
|---|---|---|---|
| Outside a high-risk zone, no policy | None | $2,787 | $82,000/yr |
| High-risk zone, elevated or newer home | $1,100/yr | $2,878 | $84,000/yr |
| High-risk zone, older low-lying home | $4,200/yr | $3,137 | $90,000/yr |
Today’s FHA rate of 6.250%, the 1.75% upfront premium rolled into the loan, the 0.55% yearly premium, Pinellas homestead taxes and a homeowners policy at the county average for this price. Flood premiums are assumptions; FEMA’s current rating method prices each home individually.
Ask for the seller’s elevation certificate and current flood policy declarations page before you make an offer. Those two documents tell you more about the true cost of a Clearwater home than almost anything else.
Clearwater FHA Loans for First-Time Homebuyers
For first-time buyers, the higher ground inland is often the easiest FHA path: villas and single-family homes in Coachman Ridge, Greenbriar, Skycrest and Countryside, many outside the highest-risk flood zones. FHA’s 3.5% down payment can come from family gifts, and sellers can contribute up to 6% of the price toward closing costs.
If you are considering a home that flooded in 2024, understand two things. FHA’s appraiser must find the home safe and sound, so incomplete repairs will need to be finished before closing or financed with a renovation loan. And if repairs exceeded half the building’s value, local floodplain rules may have required elevation or other upgrades; ask whether the city made a substantial damage determination.
On Mortgage: Your Clearwater FHA Loan Expert
We provide FHA solutions for first-time buyers and families across Clearwater, from the Gulf coast to the neighborhoods near downtown, with an understanding of the market, school zones and lending details that matter in Pinellas County. We know which FHA lenders are comfortable with older homes and recently repaired properties, and which will not touch them.
FHA mortgage insurance at the Clearwater median:
| $355,000 purchase | Base loan | Upfront MIP (1.75%, financed) | Monthly MIP | How long MIP lasts |
|---|---|---|---|---|
| 3.5% down | $342,575 | $5,995 | $157 (0.55% a year) | Life of the loan |
| 5% down | $337,250 | $5,902 | $141 (0.50% a year) | Life of the loan |
| 10% down | $319,500 | $5,591 | $133 (0.50% a year) | 11 years |
Monthly and upfront FHA premiums at the Clearwater median, 30-year term.
2026 Clearwater FHA Loan Limits
Clearwater is in Pinellas County, which uses the national FHA floor in 2026, lower than South Florida’s limits but well above Clearwater’s median. It keeps neighborhoods like Coachman Ridge, Greenbriar and Skycrest within FHA’s reach:
| Pinellas County, 2026 | FHA loan limit | Highest price at 3.5% down |
|---|---|---|
| Single-family, condo or townhome | $541,287 | $560,900 |
| Two-unit | $693,050 | $718,100 |
| Three-unit | $837,700 | $868,000 |
| Four-unit | $1,041,125 | $1,078,800 |
Pinellas County FHA base loan limits for 2026 (the national floor).
FHA Condos and Single-Family Homes
FHA loans can be used in approved condos near Clearwater Beach, downtown and on Island Estates, and in condo and villa communities inland. Beach buildings with heavy short-term rental activity often fall short of FHA’s owner-occupancy requirements, and buildings repaired after the 2024 storms may have special assessments or pending inspections; we check status and finances before you commit. Single-family homes need no project approval, only an FHA appraisal.
Clearwater Market Snapshot
Clearwater’s median sale was about $355,000 in mid-2026, with homes typically going under contract in around 63 days. For FHA buyers, that combination of moderate prices and a balanced pace leaves time for flood quotes, inspections and negotiation. FHA is weighed against conventional on every Clearwater purchase we handle.
Why Choose On Mortgage for Your Clearwater FHA Loan
We help families and new buyers navigate Clearwater’s market with confidence, and with the flood picture in view.
Flood priced early
Before you commit to a house or a price.
Storm-aware lenders
For older and recently repaired homes.
Condo diligence
Approval, assessments and master policies checked.
Frequently Asked Questions: FHA Loans
Will my Clearwater FHA lender require a flood policy?
Yes whenever the property sits inside a FEMA special flood hazard area, and the premium is included in your qualifying payment. Outside those zones it is optional but often worth carrying near the coast.
Can I buy a Clearwater home that flooded in 2024 with FHA?
Yes, if repairs are complete and the home passes the FHA appraisal, or with an FHA 203(k) that finances the remaining work. Ask about prior claims and any substantial damage determination.
What is the FHA loan limit in Clearwater for 2026?
Pinellas County uses the national floor: $541,287 for one unit and $693,050 for two.
Are Clearwater Beach condos FHA approved?
Some are. Buildings with heavy vacation rental use or unresolved storm repairs often are not. We check each building.
Is FHA a good choice for Clearwater first-time buyers?
Often, especially with credit scores in the 600s or limited savings. With stronger credit, conventional can cost less, so we compare both.
Our Reviews
What Florida borrowers say after closing with On Mortgage. Five stars on Google (130 reviews) and Zillow (92 reviews).
“We cannot say enough amazing things about Caroline! As a first-time homebuyer, this was such a huge and exciting milestone for us, and we’re so grateful that we had her by our side throughout the entire process. Caroline was incredibly knowledgeable, patient, responsive, and supportive from beginning to end.”
“I had an amazing experience working with Ms. Caroline Da Silva throughout my entire home-buying process. From day one, she was professional, knowledgeable, responsive, and always there whenever I had questions. She kept me updated every step of the way and made everything easy to understand.”
“Caroline was great. Always responsive and available whenever I needed assistance or had questions. 10/10 would recommend to any veteran or anyone for that matter.”
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