3.5% FHA LOANS UP TO $314,827: FHA loans have more flexible qualification requirements and lower down payment options compared to conventional loans. If you are looking to reduce the amount of cash you bring to closing, you might consider a 3.5% down FHA loan. For 2020, the maximum FHA loan in the Tampa Bay area is $314,827. Hence, the highest priced home you can buy at 3.5% down would be $326,245. At that price, your 3.5% downpayment would be $11,019. You can still use an FHA loan to buy a higher priced home, but the loan limit would remain $314,827 and you would need to make up the difference by having a higher down payment. Sound complicated? Don't worry, I've done the math for you. Just find the home you want and click on the Estimates Tab.