Tampa · Hillsborough County FHA
Tampa FHA Home Loan
FHA loans for Tampa buyers who need to compete. Homes here sell in about six weeks, so we prepare FHA offers that sellers take seriously, and tell you honestly when conventional would serve you better.
We specialize in Tampa FHA home financing.
Tampa’s growing neighborhoods, varied housing and a median near $440,000 make it a strong FHA market. It is also a quick one: homes typically sell in about 41 days, and well-priced homes in neighborhoods like Seminole Heights often draw several offers. Some listing agents still steer sellers away from FHA offers out of habit, usually over appraisal worries. A well-prepared FHA buyer can overcome that.
On Mortgage compares FHA lenders, underwrites your file before you shop and backs your offer with a call to the listing agent when it helps. See every program, including VA for the MacDill community, on our Tampa mortgage rates page, or speak with our Tampa mortgage broker team.
Today’s Tampa FHA Mortgage Rate
$544 lender credit
$531 lender credit
$531 lender credit
$829 lender credit
$1,482 lender credit
Par rate per program for a single-family primary residence in Hillsborough 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 Tampa scenario, no credit pull.
Tampa FHA Loan Benefits: Affordable Homeownership Starts Here
FHA’s advantages, 3.5% down at 580, gift funds and flexible debt ratios, are strongest for buyers with credit in the 600s or a high debt load. With a strong score, conventional often costs less. For a buyer with a 720 score on a $400,000 Tampa home today:
| $400,000 purchase, 720 credit | Conventional, 5% down | FHA, 3.5% down |
|---|---|---|
| Down payment | $20,000 | $14,000 |
| Loan amount | $380,000 | $392,755 (includes 1.75% upfront MIP) |
| Today’s rate | 7.000% | 6.250% |
| Principal and interest | $2,528/mo | $2,418/mo |
| Mortgage insurance | $209/mo PMI | $177/mo MIP |
| Total before taxes and insurance | $2,737/mo | $2,595/mo |
| Mortgage insurance ends | When you reach 20% equity (cancellable) | Usually lasts the life of the loan with under 10% down |
Hillsborough owner-occupied pricing at a 720 score; mortgage insurance from current premium tables. Taxes, insurance and any HOA dues are added on top.
If conventional comes out ahead for you, it also has a competitive edge in a fast market, since some sellers prefer it. If FHA comes out ahead, the steps below make your FHA offer just as strong.
Tampa FHA Loans for First-Time Homebuyers
Most first-time buyers who use FHA in Tampa do so for good reason, and they can still win. What makes an FHA offer competitive here:
Full underwriting first
Your file reviewed before you make offers, with a letter that says so.
A clean property
Homes without obvious safety items, like peeling paint or a failing roof, appraise smoothly under FHA.
Fewer asks
In a quick market, asking for less seller credit can matter more than the loan type.
Appraisal plan
Know your plan if value comes in short: extra cash, renegotiation or a reconsideration request.
Lender to agent call
We explain your approval directly to the listing agent when that helps.
Fast closing
FHA closings typically take about 30 days, the same as conventional.
On Mortgage: Tampa FHA Loan Experts
With energized urban neighborhoods, good schools and diverse housing, Tampa is a prime FHA market. Part of our job is demystifying the FHA appraisal for buyers and sellers alike. The appraiser checks value and also confirms the home is safe, sound and secure. Once an FHA appraisal is done, it is tied to the property’s FHA case number and generally stays valid for a set period, even if that buyer’s deal falls through, so a seller who has already been through one knows what to expect.
If the appraisal comes in low and you have evidence of better comparable sales, you can request a reconsideration of value through your lender. HUD formalized that process in recent years, and we help assemble the request.
2026 FHA Loan Limits for Tampa
Hillsborough County uses FHA’s national floor in 2026. That covers the Tampa median with room to spare:
| Hillsborough 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 |
Hillsborough County FHA base loan limits for 2026.
FHA mortgage insurance at the Tampa median:
| $440,000 purchase | Base loan | Upfront MIP (1.75%, financed) | Monthly MIP | How long MIP lasts |
|---|---|---|---|---|
| 3.5% down | $424,600 | $7,431 | $195 (0.55% a year) | Life of the loan |
| 5% down | $418,000 | $7,315 | $174 (0.50% a year) | Life of the loan |
| 10% down | $396,000 | $6,930 | $165 (0.50% a year) | 11 years |
Current FHA premiums on a 30-year loan at Tampa’s median price.
Neighborhood Access & Value
FHA-accessible areas include Seminole Heights, with its bungalows north of downtown, the University Area near USF, and West Tampa. Palma Ceia’s smaller homes and condos sometimes fit too, though much of South Tampa runs above the FHA limit. Downtown and the area around Hyde Park offer condos, and Brandon to the east adds single-family homes and townhomes at lower prices.
Market Snapshot
Tampa homes sold for about $440,000 at the median in mid-2026, typically within 41 days. That pace rewards buyers who are fully prepared. For each Tampa buyer we price both loans, then make the chosen one as strong an offer as it can be.
Why FHA Loans Work for Tampa Buyers
Lively neighborhoods, prices within FHA’s reach and FHA-friendly lending make Tampa a strong market for first-time owners and families.
Competitive offers
Underwritten approvals that hold up.
Honest comparisons
FHA or conventional, whichever costs less.
Appraisal support
Including reconsideration requests.
Frequently Asked Questions: FHA Loans
Do Tampa sellers accept FHA offers?
Most do, especially when the buyer is fully underwritten and the offer is otherwise clean. A short call from your lender to the listing agent explaining the approval often settles any concern.
What if my Tampa FHA appraisal comes in low?
You can renegotiate the price, cover the difference in cash or request a reconsideration of value with better comparable sales. We help prepare that request.
Is FHA or conventional better at a 720 credit score?
Often conventional, because its mortgage insurance is cheaper at higher scores and can be cancelled later. The comparison above shows today’s numbers; we run them on your actual file.
What is the 2026 FHA limit in Tampa?
Hillsborough County uses the national floor of $541,287 for one unit.
Can I use FHA for a downtown Tampa condo?
Yes, in an FHA-approved building or with single-unit approval if the building qualifies. We check the building first.
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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Make your Tampa FHA offer count
On Mortgage will underwrite your FHA file before you shop, compare it with conventional and support your offer with the listing agent. Call or start online today.