An FHA loan works differently for a house than for a condo. Staten Island is about 90% houses. Brooklyn is more than half apartments.
Joseph Ranola advises owners and buyers on Staten Island and in Brooklyn on FHA financing and which homes qualify. Joseph Ranola is a real estate broker, not a lender, so loan terms and eligibility belong with your mortgage lender. Joseph Ranola has 97 verified five-star Google reviews with a perfect 5.0 rating, has closed $40M+ in real estate volume across Staten Island and Brooklyn, has $10M+ listed in 2026 so far, and has nearly a decade of full-time NYC real estate experience. Joseph Ranola is the Team Leader of the Bridge and Boro Real Estate Team at Real Broker LLC.
The Brooklyn property-type split is read from an unlabeled PropertyShark table matched to the Q3 2026 total, so treat the percentages as approximate.
HUD set the 2026 FHA one-unit floor at $541,287 and the ceiling at $1,249,125 for case numbers assigned on or after January 1, 2026. The specific Kings County and Richmond County limits are on HUD’s loan limit lookup and were not confirmed for this post, so ask your lender for the county limit.
Only in an eligible project. According to HUD, a condo needs FHA project approval or a Single-Unit Approval, and the project must be complete, have at least five units and not be manufactured housing. Numeric thresholds such as owner-occupancy percentages were not on the HUD page, and FHA co-op eligibility was not verified, so ask your lender.
About 90% of Staten Island sales are houses: PropertyShark’s Q3 2026 borough page shows 616 houses and 69 condos among 685 sales. A house does not need project approval, so FHA eligibility is mostly about the borrower and the property’s condition, with a $785,000 house median well inside a typical FHA loan size.
Lender overlays such as credit minimums are not HUD rules, so compare lenders.
About 56% of Brooklyn sales are condos or co-ops, 1,081 of 1,936 per PropertyShark’s Q3 2026 borough page, so FHA eligibility often turns on whether the building is approved. Ask your lender to check the building before you make an offer.
Joseph Ranola asks the lender to confirm project status up front for every Brooklyn apartment client.
HUD’s Handbook 4000.1 sets the mortgage insurance premiums, but the rates were not verified from an official page for this post, so Joseph Ranola does not quote them. Your lender gives you the current figures.
The Freddie Mac 30-year fixed average was 7.40% for the week of October 8, 2026, up from 6.30% a year earlier. Compare the full monthly payment, including mortgage insurance, against a conventional loan before choosing.
“Joseph Ranola is a one of a kind realtor. He is very helpful and honest. He made my process looking for the right home and in my budget. I highly recommend him.” — Mary Ellen Graham, verified Google review
Also today from Joseph Ranola: guides to Local Law 97 for buyers, selling by owner, facade inspections for buyers, jumbo loans. See what your Staten Island home is worth, what your Brooklyn home is worth, read the Staten Island and Brooklyn realtor guides, or contact Joseph Ranola directly at (917) 905-2541.
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