Hollywood, FL · FHA and 203(k)
Hollywood FHA Home Loan
FHA purchase and renovation loans for Hollywood’s mid-century homes, beach condos and inland townhomes. Buy the house that needs a roof or a kitchen, and finance the work with the mortgage, with 3.5% down.
We specialize in Hollywood FHA home financing.
Hollywood was largely built out in the 1950s and 1960s, and many of its houses still have original bathrooms, older roofs and aging electrical panels. Those homes are often the best values in the city, and the reason many first-time buyers pass on them is not the price but the work. FHA has an answer for that: renovation financing that rolls repairs into the same 3.5%-down loan.
On Mortgage compares FHA lenders on standard and renovation loans, since not every lender offers 203(k) financing and those that do price it differently. Compare all programs on the Hollywood mortgage rates page, or reach our Hollywood mortgage broker team.
Today’s Hollywood FHA Mortgage Rate
0.162 points
No points, no credit
0.125 points
$672 lender credit
$713 lender credit
Par rate per program for a single-family primary residence in Broward 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 Hollywood scenario, no credit pull.
Hollywood FHA Loan Benefits: Affordable Homeownership Starts Here
FHA’s basics fit Hollywood’s entry-level market well: 3.5% down at a 580 score, gifts from family for the whole down payment, and flexible ratios that leave room for Broward’s insurance costs. What sets Hollywood apart is the condition of much of the housing, and that is where FHA’s two renovation programs come in:
- Limited 203(k): up to $75,000 in non-structural repairs, such as a roof, windows, kitchen, bathrooms, flooring, an electrical panel or a new air conditioner, with a simpler process.
- Standard 203(k): for larger or structural work, including additions, with a HUD consultant overseeing the plan and draws.
Both finance the repairs inside the mortgage, based on the home’s value after the work is done.
Hollywood FHA Loans for First-Time Homebuyers
Here is how a 203(k) purchase works on a typical first-time buyer’s Hollywood house: a $410,000 three-bedroom in Driftwood that needs a new roof, impact windows and an updated electrical panel, about $48,000 of work, with an appraised after-repair value of $480,000.
| Limited 203(k) example | Amount |
|---|---|
| Purchase price | $410,000 |
| Repairs, with contingency and permits | $48,000 |
| Price plus repairs | $458,000 |
| Appraised value after repairs | $480,000 |
| FHA’s basis: price plus repairs, or 110% of the after-repair value, whichever is less | $458,000 |
| Your 3.5% down payment | $16,030 |
| Base loan, plus the 1.75% upfront premium | $441,970 + $7,734 = $449,704 |
| Principal and interest at today’s FHA rate (6.375%) | $2,806/mo |
Illustration only. Renovation loans often price slightly above standard FHA loans, and lenders set their own contractor and documentation requirements. Repair funds are held in escrow and paid to the contractor as work is completed.
The buyer moves into a home with a new roof and impact windows for a 3.5% down payment, rather than spending savings or taking a second loan for repairs, and often pays less for insurance than the previous owner did.
On Mortgage: Your Hollywood FHA Loan Expert
From beachfront condos to suburban streets, we bring FHA experience to Hollywood’s varied market. Beach condos along the Broadwalk need FHA project approval or single-unit approval, and many buildings there have high rental activity that rules them out. Inland, the questions shift to the house itself: its age, its permits and whether a renovation loan would make it a better buy.
Mortgage insurance applies to every FHA loan, renovation or not. On a $410,000 purchase:
| $410,000 purchase | Base loan | Upfront MIP (1.75%, financed) | Monthly MIP | How long MIP lasts |
|---|---|---|---|---|
| 3.5% down | $395,650 | $6,924 | $181 (0.55% a year) | Life of the loan |
| 5% down | $389,500 | $6,816 | $162 (0.50% a year) | Life of the loan |
| 10% down | $369,000 | $6,458 | $154 (0.50% a year) | 11 years |
FHA’s current premiums on a 30-year loan of this amount. With a 203(k), premiums are based on the total loan including repairs.
2026 Hollywood FHA Loan Limits
As part of Broward County, Hollywood shares the metro area’s higher FHA limits for 2026. On a 203(k), the limit applies to the total base loan, repairs included.
| Broward County, 2026 | FHA loan limit | Highest price at 3.5% down |
|---|---|---|
| Single-family, condo or townhome | $667,000 | $691,100 |
| Two-unit | $853,900 | $884,800 |
| Three-unit | $1,032,150 | $1,069,500 |
| Four-unit | $1,282,700 | $1,329,200 |
Broward FHA base loan limits for 2026. The highest price shown assumes 3.5% down and no renovation budget.
FHA Financing in Hollywood
With a 3.5% down payment, FHA loans reach condos on Hollywood Beach, single-family homes in Emerald Hills and Hollywood Lakes, and townhomes and villas inland. Hollywood Hills and Driftwood offer the city’s classic 1950s ranch houses; West Hollywood adds newer subdivisions. Downtown, near Young Circle and the arts district, has a mix of older homes and condos.
East of US-1, check flood zones carefully. Hollywood Lakes and the beach sit low, and flood insurance there can add meaningfully to the payment FHA qualifies you on.
Market Snapshot
Hollywood sales averaged around $485,000 at the middle of the market in mid-2026, and homes stayed listed about 116 days before selling. That is one of the slower paces in Broward, good news for FHA buyers who need seller help or who are taking on a renovation. We compare FHA, renovation and conventional options so you pick the right one for the house.
Why Choose On Mortgage for Your Hollywood FHA Loan
Local expertise, fast approvals and FHA guidance suited to Hollywood’s neighborhoods, from the beach to the western subdivisions.
Renovation loans
Limited and standard 203(k) from lenders that close them regularly.
Beach condo screening
Project approval and rental activity checked before you offer.
Seller credits used well
We show sellers’ agents how a credit can close a gap that a price cut cannot.
Frequently Asked Questions: FHA Loans
What is a Limited 203(k) loan?
An FHA loan that adds up to $75,000 of non-structural repairs to your purchase or refinance, such as a roof, windows, kitchen, bathrooms or systems. It has a simpler process than the standard 203(k), which handles larger and structural projects.
Can I buy an older Hollywood home that needs a new roof with FHA?
Yes. A roof near the end of its life can be replaced before closing at the seller’s expense, or financed with a 203(k). Either way, a new roof usually helps with insurance.
Are Hollywood Beach condos FHA approved?
Some are. Many beach buildings have heavy rental use that keeps them off HUD’s list or out of single-unit approval. We check each building before you make an offer.
What are Hollywood’s 2026 FHA limits?
Broward’s 2026 single-family FHA limit is $667,000. Duplexes go up to $853,900 and fourplexes to $1,282,700, with the owner living in one unit. On a 203(k), repairs count inside the limit.
Is a 203(k) rate higher than a regular FHA rate?
Often slightly, because the loan takes more work to manage. The difference is usually small compared with the cost of financing repairs separately.
Our Reviews
What Florida borrowers say after closing with On Mortgage. Five stars on Google (130 reviews) and Zillow (92 reviews).
“Highly recommend working with her! She was professional, courteous, and always on time. She is soft-spoken, extremely knowledgeable, and took the time to answer all of my questions with patience and care. She made the entire mortgage process smooth and stress-free.”
“Damarys Aguilar is a true professional. She defines trust and dependability. Damarys is phenomenal to work with and I will not work with any other lender. Thank you.”
“Nos sentimos felices con Carolina por la total ayuda que hizo posible para la compra de nuestra primera casa. En todo momento demostró profesionalismo y entrega en conseguir los mejores costos y beneficios para nosotros. Quedamos totalmente agradecidos.”
More for Hollywood borrowers
Nearby in Broward
Price your Hollywood FHA or 203(k) loan
Found a Hollywood home that needs work, or one that is ready to move in? On Mortgage will compare standard and renovation FHA options with several lenders. Call or start online today.