Puerto Rico FHA Loan Requirements 2026
This guide covers Puerto Rico FHA loan requirements for 2026 — FHA loan limits for all 78 municipios, credit score and down payment minimums, FHA mortgage insurance, how FHA compares with conventional financing, and how FHA pairs with AFV’s Pronto pa’ tu casa grant.
FHA Loan Limits by Puerto Rico Municipio (2026)
HUD sets two FHA limit levels in Puerto Rico for 2026. The 40 municipios of the San Juan-Bayamón-Caguas metro area carry a one-unit limit of $690,000; the other 38 municipios sit at the national floor of $541,287.
| Area | 1-Unit FHA Limit | 2 / 3 / 4 Units |
|---|---|---|
| San Juan-Bayamón-Caguas metro (40 municipios) | $690,000 | $883,300 / $1,067,750 / $1,326,950 |
| All other municipios (38) | $541,287 | $693,050 / $837,700 / $1,041,125 |
Metro municipios at $690,000: Aguas Buenas, Aibonito, Barceloneta, Barranquitas, Bayamón, Caguas, Canóvanas, Carolina, Cataño, Cayey, Ceiba, Ciales, Cidra, Comerío, Corozal, Dorado, Fajardo, Florida, Guaynabo, Gurabo, Humacao, Juncos, Las Piedras, Loíza, Luquillo, Manatí, Maunabo, Morovis, Naguabo, Naranjito, Orocovis, Río Grande, San Juan, San Lorenzo, Toa Alta, Toa Baja, Trujillo Alto, Vega Alta, Vega Baja and Yabucoa. Source: HUD’s 2026 forward mortgage limits file.
Puerto Rico FHA Loan Requirements Overview
| Requirement | Standard FHA | Notes |
|---|---|---|
| Credit score | 580 (3.5% down); 500–579 (10% down) | Below 500 is not eligible; lenders may set higher minimums |
| Down payment | 3.5% | Pronto pa’ tu casa can cover it for eligible buyers |
| DTI ratio | Set by FHA underwriting and your lender | Lender overlays may apply |
| Primary residence | Required | Owner-occupied only |
| Property condition | Must meet FHA Minimum Property Standards | FHA appraisal required |
FHA Mortgage Insurance Premiums (MIP)
| MIP Type | Rate | On a $250,000 Loan |
|---|---|---|
| Upfront MIP (UFMIP) | 1.75% of base loan amount | $4,375 (typically financed) |
| Annual MIP (monthly) | 0.55%/yr (LTV above 95%); 0.50%/yr (95% or below) | ~$115/mo at 0.55% |
How long MIP lasts: for FHA case numbers assigned on or after June 3, 2013, annual MIP runs for 11 years if your original loan-to-value was 90% or less, and for the life of the loan (up to 30 years) if it was above 90%, per HUD Mortgagee Letter 2013-04. Rates shown are for terms over 15 years and base loans of $726,200 or less, which covers every one-unit FHA loan in Puerto Rico (HUD FHA premium structure).
FHA vs. Conventional in Puerto Rico
| Factor | FHA | Conventional |
|---|---|---|
| Min credit score | 580 | 620 |
| Down payment | 3.5% | 3–20% |
| Mortgage insurance | MIP (life of loan above 90% LTV) | PMI (cancels at 80% LTV) |
| Max loan limit (one-unit) | $541,287 or $690,000, by municipio | Conforming limit applies ($832,750) |
| Pronto pa’ tu casa pairing | Yes — grant can cover the down payment and closing costs | Yes — with a participating institution |
Pronto pa’ tu casa + FHA Combination
Pronto pa’ tu casa can pay up to 100% of the required down payment plus reasonable closing costs, up to its grant maximum. The purchase price can’t exceed the FHA limit for the municipio or the appraised value. AFV also offers FHA Boricua (Ley 87) mortgages for loans from $190,001 to $330,000 under its Vivienda Joven program.
Here’s how it works on a $250,000 purchase:
| Item | Amount |
|---|---|
| Purchase price | $250,000 |
| FHA minimum down payment (3.5%) | $8,750 |
| Pronto pa’ tu casa grant (base maximum) | Up to $45,000 |
| Down payment from buyer | $0 if eligible — the remaining grant can go toward closing costs |
The grant requires you to live in the home for 5 years. Confirm current terms at afv.pr.gov.
