Financing & Mortgage
The money side, plain English.
Pre-approval to closing. Loan types, current rates, what you'll actually pay monthly, and the lenders I trust to get you to the closing table fast.
Pre-approval to closing. Loan types, current rates, what you'll actually pay monthly, and the lenders I trust to get you to the closing table fast.
Most "buying a home" articles online are either AI slop or junior-loan-officer fluff. Here's the real version, in the order it happens.
Pre-qualification is a guess based on what you tell a lender. Pre-approval is a hard underwriting check, they actually pull credit, verify income, and tell sellers you can close. In Florida, sellers don't take offers seriously without one.
Conventional, FHA, VA, USDA, jumbo. Each has different down payment minimums, mortgage insurance rules, and Florida-specific quirks (especially with HOA-heavy condos). I'll tell you which actually fits your situation.
Once you have an executed contract, you have ~30–45 days to lock a rate. If rates are dropping, float. If rising, lock. I'll show you the rate sheet from multiple lenders so you're not just trusting one bank.
Lender orders an appraisal (~$500), runs your full file through underwriting. They'll ask for documents you swore you already sent. This is normal. Send them within 24 hours and you stay on track.
Underwriter signs off. Title company schedules closing. You bring your cash-to-close (wire transfer, ID, and a pen). Sign 80 pages. Get keys. Done.
3–20% down. No upfront mortgage insurance. PMI drops off at 20% equity. Best for buyers with ~680+ credit and stable income. Up to $766k loan in most Florida counties.
3.5% down with 580+ credit. More forgiving on credit issues. Has upfront + monthly mortgage insurance for the life of the loan (until you refi). Great entry path.
0% down. No mortgage insurance ever. Funding fee can be financed. The single best loan product available, if you've served, use it. Active duty + honorable discharge qualify.
0% down for designated rural areas, most of Loxahatchee, parts of unincorporated St. Lucie. Income limits apply. Cheap monthly mortgage insurance.
For loan amounts above the conforming limit ($766k in most FL counties). 10–20% down, stricter credit (~720+), more reserves required. Used for Hutchinson Island, Sailfish Point, Palm Beach.
For investors. Qualifies based on the property's rent income, not your W-2. 20%+ down, slightly higher rate. Game-changer for buying multi-family or rentals through an LLC.
Most calculators just give you P&I. Florida's monthly is bigger, taxes, insurance, HOA, sometimes flood. Here's the real number.
Approximate rates I'm seeing from preferred lenders for borrowers with strong credit (~740+) and standard 20% down. Yours will vary, get a real quote, not a webpage.
Estimates only. Get a hard quote before making decisions.
I work with these folks regularly. They actually return calls, close on time, and don't surprise you at the closing table. Tell them I sent you.
Drop your contact and I'll match you to the right lender for your situation (first-time, jumbo, VA, investment) and make a warm intro within a few hours.
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