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Florida Mortgage Loans: Your Guide to Smart Financing

Florida’s vibrant housing market offers opportunities for homebuyers, investors, and refinancers alike but navigating the Sunshine State’s unique landscape requires local expertise.

4.6 from 700+ reviews

Group 1171274740

4.6 from 700+ reviews

Group 1171274741

4.6 from 700+ reviews

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At Truss Financial Group, we specialize in Florida mortgage loans, guiding clients through state-specific regulations, seasonal market fluctuations, and regional nuances.

Whether you’re purchasing a beachfront condo in Miami, refinancing a family home in Tampa, or securing investment property in Orlando, our Senior Loan Officers provide tailored financing solutions that reflect Florida’s diverse communities and property types.

Areas We Serve

Truss Financial Group proudly supports borrowers across Florida’s most dynamic regions:

  • Miami-Dade County: From Miami Beach to Coral Gables, we finance coastal condos, single-family homes, and luxury estates grazed by ocean breezes.
  • Broward County: Including Fort Lauderdale and Hollywood, we specialize in financing waterfront properties, townhomes, and mixed-use developments.
  • Palm Beach County: Serving Boca Raton to West Palm Beach, we offer jumbo loan expertise for high-value homes and estates.
  • Hillsborough County (Tampa Bay): From downtown Tampa to suburban Wesley Chapel, we finance first-time buyers, refinancers, and rental investors.
  • Orange County (Orlando): Supporting buyers near theme parks, university districts, and growing suburbia with competitive purchase and refinance options.
  • Duval County (Jacksonville): Financing coastal communities like Ponte Vedra and inland neighborhoods, with programs for retirees and active military.
  • Lee County (Fort Myers & Cape Coral): Offering investment and primary residence loans for canal-front homes and river-view properties.
  • Sarasota County: Specializing in loans for gulf-front condos, historic bungalows, and family estates in Sarasota and Venice.

Each region presents unique considerations: hurricane zones, property insurance requirements, flood zones and our experts ensure your mortgage navigates these complexities confidently.

areas we serve in florida

How Do Home Loans Work in Florida?

Home loans in Florida operate under federal mortgage guidelines but also require adherence to specific state regulations specially concerning escrow requirements for property taxes and homeowner’s insurance. At a high level, the process includes:

  1. Loan Application & Pre-Approval: You submit personal, income, and asset information. Florida lenders often perform a soft credit pull to issue a pre-approval letter, which strengthens your purchase offers.
  2. Property Appraisal & Inspection: A state-licensed appraiser assesses the home’s market value, while an independent inspector reviews the property’s condition. This step is crucial in coastal or flood-prone areas where salt air and hurricanes can impact structural integrity.
  3. Underwriting & Document Verification: Underwriters verify income, assets, credit, and property title. In Florida, they also confirm flood-zone status and ensure adequate flood insurance is included in escrow calculations.
  4. Rate Lock & Closing Disclosure: Once underwriting approves, you lock in your interest rate usually for 45–60 days and receive a Closing Disclosure at least three business days before closing, detailing all costs.
  5. Closing & Funding: You sign documents at a closing agent’s office or via a mobile notary. Funds are wired to the title company, the deed is recorded with the county clerk, and you receive the keys.

Because Florida property taxes and insurance can vary widely by county, lenders include these items in your monthly payment escrow. This ensures timely payments and protects both borrower and lender from large lump-sum obligations.

Florida home loan qualifications

Home Loan Qualifications

Qualifying for a home loan in Florida involves meeting both general mortgage standards and state-specific benchmarks. Key qualification factors include:

  • Credit Score: Lenders typically require a minimum FICO score of 620 for conventional loans; FHA programs may allow scores as low as 580 with a 3.5% down payment, and VA/USDA loans often waive minimum score requirements entirely.
  • Income Verification: Florida borrowers must prove stable income through W‑2s, tax returns, bank statements, or alternative documents (e.g., 1099s, asset statements) depending on the loan program.
  • Debt-to-Income (DTI) Ratio: Most lenders cap DTI at 43%–50%, calculated by dividing total monthly debt payments by gross monthly income. Higher DTI may be allowed with compensating factors (reserves, high credit score).
  • Down Payment & Reserves: Conventional loans often require 3%–5% down (first-time buyers may qualify for lower down payment grants), while Non-QM and jumbo products can allow as little as 10% down. Lenders may also require 2–12 months of mortgage reserves in savings or investments.
  • Property Eligibility: The home must meet safe-habitable standards. Condominiums must be on approved association lists, and properties in flood zones require proof of adequate flood insurance.
  • Escrow Requirements: Florida law typically mandates escrow accounts for property taxes and homeowner’s insurance, which are factored into the monthly payment.

By understanding these criteria in advance and preparing documentation accordingly, Florida homebuyers can streamline approval and locking in favorable rates.

Florida Mortgage Programs

At Truss Financial Group, we offer a full spectrum of mortgage programs tailored to Florida’s diverse borrower needs:

  • Conventional Loans: Fixed- and adjustable-rate mortgages (ARMs) for primary residences, second homes, and investment properties.
  • FHA Loans: Low down payment and flexible credit requirements, backed by the Federal Housing Administration.
  • VA Loans: No-down-payment options for eligible veterans and active-duty service members.
  • USDA Rural Development Loans: Zero-down-payment mortgages for qualified rural and suburban areas.
  • Jumbo Loans: Financing above conforming limits, with down payments as low as 10% for qualified borrowers.
  • Non-QM Programs: Bank Statement, DSCR, Asset-Based, and 1099-based products to serve self-employed, investor, and high-net-worth clients.
  • Renovation Loans: One-time-close financing for home purchase and renovations (FHA 203(k) and Fannie Mae Homestyle).
  • Reverse Mortgages (HECM): Helping homeowners aged 62+ convert home equity into tax-free income.

Our Loan Officers will assess your goals and financial profile to recommend the ideal program for your Florida property purchase or refinance.

Types of Loans We Offer

At Truss Financial Group, we tailor home financing to fit your needs. Our Florida loan products include:

  • Non-QM Programs: Bank Statement, DSCR, Asset-Based, and 1099 DSCR products for self-employed entrepreneurs, real-estate investors, and high-net-worth borrowers.
  • 30-Year Fixed-Rate Mortgages: Lock in a stable interest rate for three decades. Ideal for buyers who value predictability and plan to stay in their home long-term.
  • 15-Year Fixed-Rate Mortgages: Shorter amortization means faster equity build-up and lower total interest; best for homeowners aiming to pay off their mortgage sooner.
  • Adjustable-Rate Mortgages (ARMs): Enjoy lower initial rates for 5/1, 7/1, or 10/1 ARMs. These products work well if you plan to move or refinance before the rate adjusts.
  • Federal Housing Administration (FHA) Loans: With down payments as low as 3.5% and more lenient credit requirements, FHA loans open doors for first-time and moderate-income buyers.
  • Veterans Affairs (VA) Loans: Eligible veterans and active-duty service members can access 0% down financing, no PMI, and competitive rates.
  • USDA Rural Development Loans: Qualify for zero down payment in designated rural areas: perfect for buyers near Florida’s agricultural or less-dense communities.
  • Jumbo Loans: Finance high-value homes above conforming limits with down payments starting at 10%.
  • Renovation Loans: Combine purchase and rehab costs in one FHA 203(k) or Fannie Mae HomeStyle loan ideal for fixer-uppers.

Each loan type carries specific eligibility, credit, and down payment requirements. Our experts help you compare options, calculate payment estimates, and choose the best fit for your financial goals.

First-Time Buyer Programs in Florida

lorida offers several state and local first-time homebuyer initiatives designed to reduce upfront costs and expand access:

  • Florida HFA Preferred™: A program through the Florida Housing Finance Corporation offering down payment assistance up to 3% coupled with competitive mortgage rates for credit scores ≥ 640.
  • Florida HFA Advantage™: Enhanced subsidy option providing up to 4% in down payment and closing cost assistance on top of an affordable loan.
  • HFA Preferred Freddie Mac Option: For credit scores ≥ 620, this option includes reduced mortgage insurance costs and flexible debt-to-income ratios.
  • Local Housing Initiatives: Many counties (Miami-Dade, Broward, Hillsborough) partner with TFG to deliver grants, forgivable second mortgages, and closing-cost subsidies often tailored for income-qualified families.
  • Employer-Assisted Housing (EAH): Some Florida employers offer down payment matching programs. We help coordinate employer contributions with your mortgage.
  • HomeReady® & Home Possible®: Freddie Mac and Fannie Mae programs that accept non-borrower household income and offer low down payments (3%).

Our team navigates program qualification criteria: income limits, purchase price caps, and required homebuyer education courses, so you capitalize on every available benefit.

qualifying for loans in Florida

Buying a House in Florida

Purchasing a home in the Sunshine State involves both standard steps and Florida-specific considerations:

  1. Assess Your Budget: Factor in property taxes (ranging 0.7%–2.5% of assessed value), homeowners’ insurance (especially in hurricane zones), and HOA fees if applicable.
  2. Get Pre-Approved: Secure a pre-approval letter from TFG using your income, credit, and asset documentation, this strengthens your offer and clarifies how much you can afford.
  3. Search Florida Listings: Work with a licensed real estate agent to target neighborhoods that fit your lifestyle: waterfront communities, urban centers, or suburban developments.
  4. Conduct Inspections & Appraisals: Hire qualified inspectors to check for issues common in Florida homes: mold, wood rot, hurricane damage, alongside a licensed appraiser to confirm market value.
  5. Finalize Your Loan: Submit all required documents for underwriting, lock in your interest rate, and attend the closing appointment, often with a mobile notary for convenience.
  6. Close & Move In: After deed recording and fund disbursement, you receive keys and officially take possession.

Pro tip: Monitor weather advisories and hurricane season timelines to plan inspections and closings with minimal disruption.

What Are the Steps to Buying a House in Florida?

A clear roadmap ensures a smoother transaction. Here’s the step-by-step process:

  1. Financial Preparation: Review credit reports, reduce outstanding debts, and save for down payment + closing costs (typically 2%–5% of loan amount).
  2. Pre-Qualification vs. Pre-Approval: Pre-qual gives a ballpark estimate; pre-approval provides a firm loan amount after document review.
  3. Home Search Strategy: Define must-haves (location, size, amenities) and attend open houses or virtual tours.
  4. Offer & Negotiation: Collaborate with your agent to submit a competitive offer, including contingencies for appraisal and inspection.
  5. Contract Execution: Once accepted, deposit earnest money into escrow. This demonstrates good faith and holds the property.
  6. Due Diligence Period: Conduct inspections (general, termite, wind mitigation), review HOA documents, and verify insurance quotes.
  7. Underwriting & Appraisal: Lender’s underwriters review documentation; appraiser confirms property value against comparables.
  8. Rate Lock & Closing Disclosure: Lock your rate; review CD detailing loan terms and costs; ensure a 3-day waiting period is observed.
  9. Final Walkthrough: Confirm property condition meets contractual obligations, no major damage or required repairs.
  10. Closing: Sign documents, pay closing costs, and receive keys. Closing can occur at a title office or via mobile notary.

Following these steps diligently and working closely with TFG’s experts reduces surprises and positions you to close on your Florida home confidently.

steps to buying a house in Florida

How Much Do Houses in Florida Cost?

As of Q2 2025, Florida’s median home price sits around $375,000, though prices vary significantly by metro area and property type. According to the Florida Realtors® quarterly report, regional medians include:

  • Miami-Fort Lauderdale-West Palm Beach: $520,000
  • Tampa-St. Petersburg-Clearwater: $340,000
  • Orlando-Kissimmee-Sanford: $330,000
  • Jacksonville: $310,000
  • North Port-Sarasota-Bradenton: $400,000

Luxury coastal markets (e.g., Palm Beach Island) can exceed $2 million, while inland rural counties often fall below $250,000.

How Much Is a Down Payment on a House in Florida?

Down payment requirements depend on loan type:

  • Conventional Loans: Typically 3%–5% of purchase price. First-Time Home Buyer programs may reduce this further.
  • FHA Loans: 3.5% minimum down with a FICO score of 580+.
  • VA Loans: 0% down for eligible veterans and service members.
  • USDA Loans: 0% down for designated rural areas.
  • Jumbo Loans: Often require 10%–20% down, depending on lender and borrower profile.

Closing cost assistance programs, offered by the Florida Housing Finance Corporation can cover part of the down payment or fees

What Credit Score Is Needed to Buy a House in Florida?

Minimum credit requirements vary by program:

  • Conventional Loans: 620 minimum FICO.
  • FHA Loans: 580 for 3.5% down; 500 for 10% down.
  • VA Loans: No set minimum; lenders typically look for 620+.
  • USDA Loans: No federal minimum; common threshold 640.
  • Non-QM Programs: 580–700 depending on documentation and reserves.

Improving your credit score, even by 20–30 points can reduce your interest rate substantially.

Apply for a Florida Home Loan Today

Want to secure your Florida dream home? At Truss Financial Group, our local experts will match you with the best mortgage solution.

Find the best loan for you. Reach out today!

Experience fast pre-approvals, competitive rates, and personalized guidance, from Miami to Jacksonville and beyond.

best home loans in florida

Frequently Asked Questions

How can I get the best mortgage rate in Florida?

To secure the lowest rate:

  • Improve your credit: Aim for scores above 740 to access top-tier pricing.
  • Reduce DTI: Pay down high-interest debt to lower your debt-to-income ratio.
  • Shop multiple lenders: We encourage comparing quotes, TFG provides custom rate quotes within 24 hours.
  • Consider points: Buying mortgage points can lower your rate if you plan to stay long-term.
  • Lock early: Rates can change daily; locking your rate soon after pre-approval protects against increases.

What’s the first step in getting a mortgage in Florida?

Start by gathering documentation:

  • Recent pay stubs or bank statements
  • Two years of W-2s/tax returns (or alternative docs for Non-QM)
  • Photo ID and Social Security number
  • List of monthly debts and assets
    Once you have these ready, request a pre-approval from TFG to determine your budget.

What is the current mortgage rate in Florida?

A: Mortgage rates vary daily based on market conditions and borrower profiles. As of July 2025, the average 30-year fixed rate in Florida is 6.67% for conforming loans. Contact TFG for a personalized rate quote, which considers your credit, loan type, and down payment.

How does a mortgage work in Florida?

A mortgage is a loan secured by real estate. You borrow funds to purchase a home and repay principal plus interest over a set term (e.g., 30 years). Florida mortgages often include escrow for property taxes and insurance, ensuring timely payments and protection against large annual bills.

How much does a mortgage cost in Florida?

Total cost includes:

  • Principal & interest: Based on loan amount, term, and rate.
  • Property taxes: Range from 0.7%–2.5% of home value annually.
  • Homeowners insurance: Varies by location; coastal zones can be higher.
  • PMI: If down payment <20% on conventional loans.
  • HOA fees: Applicable for condo or planned communities.
    Use our mortgage calculator on the TFG website for precise breakdowns.

Who is the best lender for mortgages in Florida?

The best lender combines local expertise, diverse loan programs, transparent pricing, and responsive service. Truss Financial Group offers all this, plus a dedicated Senior Loan Officer for every borrower, fast pre-approvals, and deep Florida market knowledge.

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