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Florida Pre-Approval

Florida Mortgage Pre-Approval, Done Right

A verified, underwriter-reviewed Florida mortgage pre-approval letter — factoring doc stamps, intangible tax, condo Statute 718 rules, flood zones, and wind-mit realities — typically issued within ~24 hours of a complete file* by a licensed Simply Approved Mortgages Loan Officer.

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Quick answerSummary
  • ✓Florida median home price: $410,000 (Florida REALTORS® 2025 statewide median (illustrative — verify at time of application)).
  • ✓Florida closing costs typically 3.0%–5.0% of purchase price (typical*).
  • ✓Local DPA available in Florida: Florida Hometown Heroes · Florida Assist · HFA Preferred / HFA Advantage.
  • ✓Verified, underwriter-reviewed Florida pre-approval — typically ~24 hours from a complete file*.
  • ✓Top Florida metros served: Miami, Orlando, Tampa, Jacksonville, Fort Lauderdale.
SA

Written by

Simply Approved Mortgages Team

Licensed Loan Officers · NMLS# 2620881

10 min read·Independently researched · No paid product placement

Rate Context

Today's mortgage rate snapshot for Florida

Rates change daily and vary by credit, loan size, LTV, occupancy, and program. Illustrative only — not a quote, lock, offer, or commitment to lend.

See Today's Rates →

Start your Florida mortgage pre-approval — typically ~24 hours*

A Simply Approved Mortgages Loan Officer verifies income, assets, and credit and runs your Florida file through Fannie Mae DU / Freddie Mac LPA. Not a quote, lock, offer, or commitment to lend.

Start My ApprovalSee Today's Rates

Florida mortgage pre-approval, in plain English

Buying in Florida adds a well-known set of local variables to the standard pre-approval process — documentary stamp and intangible taxes, condo Statute 718 structural-integrity reserves, FEMA flood zones, wind-mitigation and 4-point inspections on older homes, and homestead / Save-Our-Homes property-tax mechanics. A Simply Approved Mortgages Loan Officer accounts for these Florida-specific factors from day one so your pre-approval letter reflects what you can actually close on here — not a generic national estimate.

Getting a verified mortgage pre-approval in Florida still follows the national playbook — we pull credit, verify income and assets, and run your file through Fannie Mae's Desktop Underwriter or Freddie Mac's Loan Product Advisor. What differs is the Florida-specific overlay stack below.

What the Florida market looks like right now

  • South Florida (Miami-Dade, Broward, Palm Beach) frequently pushes into high-balance conforming and jumbo territory; condo eligibility is a bigger gating factor here than in most states.
  • Central Florida (Orlando, Tampa) has strong first-time-buyer volume — Hometown Heroes and Florida Assist are the most-used DPA overlays.
  • Coastal counties statewide face rising homeowners insurance premiums and Citizens Property Insurance eligibility rules — bound coverage before close is required and affects DTI.

Florida-specific down payment assistance

Florida closing costs, taxes & recording fees

Florida closing costs typically run 3.0%–5.0% of purchase price (typical*). The specific line items that move the needle here:

  • Deed documentary stamps: 0.7% of purchase price (0.6% in Miami-Dade, plus a 0.45% surtax on non-single-family).
  • Note documentary stamps: 0.35% of the loan amount, plus a 0.2% intangible tax on the mortgage.
  • Florida is a title-company / attorney-optional closing state — title insurance is promulgated by rule but many fees are negotiable.

Your binding figures appear on the Loan Estimate you receive within 3 business days of a complete application on a specific Florida property.

Florida-specific quirks a Simply Approved Mortgages Loan Officer will catch

  • Documentary stamp tax on the deed (0.7% outside Miami-Dade / 0.6% + surtax inside Miami-Dade), documentary stamps on the note (0.35%), and a 0.2% intangible tax on the mortgage are unique to Florida.
  • Florida Statute 718 structural-integrity reserve rules affect condo warrantability — always verify the reserve study, milestone inspection, and Fannie Mae/Freddie Mac condo eligibility before writing a condo offer.
  • FEMA flood zones A/AE/V/VE require flood insurance; homes 30+ years old typically require 4-point and wind-mitigation inspections for hazard insurance to bind.
  • Homestead Exemption and "Save Our Homes" 3% assessment cap materially change year-2+ property tax — use current-year taxes for pre-approval math, not the seller's capped bill.

Florida contract timeline & why pre-approval comes first

Florida "As-Is" Far/Bar contracts run tight inspection and financing periods — a verified pre-approval before offer keeps you inside the loan-approval and appraisal contingencies.

Loan options available in Florida

FHA, VA, USDA (rural Florida), Conventional, Jumbo, ITIN, Bank Statement, Non-QM, Foreign National, and Doctor loans are all available on Florida properties (subject to program guidelines and property eligibility, especially for condos and manufactured homes).

Top Florida metros we pre-approve in

Miami, Orlando, Tampa, Jacksonville, Fort Lauderdale — plus every other city and county in Florida. Simply Approved Mortgages LLC (NMLS# 2620881) is licensed and equipped to originate on any eligible address in the state.

City-level guides

Mortgage pre-approval in Florida metros

St. Petersburg Pre-Approval

Median: $395,000 · Closing: 2.0%–4.0% of purchase price (typical*)

Miami Pre-Approval

Median: $620,000 · Closing: 3.0%–5.0% of purchase price (typical*)

Orlando Pre-Approval

Median: $430,000 · Closing: 3.0%–5.0% of purchase price (typical*)

Tampa Pre-Approval

Median: $420,000 · Closing: 3.0%–5.0% of purchase price (typical*)

Jacksonville Pre-Approval

Median: $380,000 · Closing: 3.0%–5.0% of purchase price (typical*)

Fort Lauderdale Pre-Approval

Median: $560,000 · Closing: 3.0%–5.0% of purchase price (typical*)

Florida Payment Estimator

Estimate your Florida monthly payment

Illustrative principal & interest, taxes, and insurance for a Florida purchase. Not a quote, lock, offer, or commitment to lend — binding figures appear on your Loan Estimate.

Estimate your payment
Home price$450,000
$
Down payment$45,000 (10.0%)
$
Interest rate6.25%
%
Loan term30 years
Credit tier (FICO)740-759
Property taxes (annual %)1.20%
%
Homeowner's insurance (annual)$1,650
$
HOA (monthly)$0
$
Principal & interest
$2,494
Taxes + insurance
$588
Loan amount
$405,000
Estimated monthly payment (PITI)
Illustrative — binding figures on your Loan Estimate
$3,082

Monthly payment breakdown

Principal & interest$2,494 · 81%
Property taxes (1.20%/yr)$450 · 15%
Homeowner's insurance$138 · 4%

Loan amortization summary (30-year term)

Total interest paid
$492,716
Total paid over term
$897,716
Year 1 · to interest
$25,178
Year 1 · to principal
$4,746

Assumes a fixed-rate 30-year loan held to maturity with no prepayments. Actual amortization varies with extra principal payments, escrow adjustments, PMI/MIP, and any rate resets on an ARM.

Free • No obligation

Use my estimate — see today's rates

We'll pre-fill your calculator numbers into the quote form below. A Simply Approved Mortgages Loan Officer will personally connect with you to walk through your scenario.

Home price$450,000
Down payment$45,000 (10.0%)
Loan amount$405,000
Rate / term6.25% · 30y
Credit tier740-759
Est. total PITI$3,082
See Today's Rates

Pre-approval is a soft check with no SSN and no hard credit pull. Not a loan approval or commitment to lend — binding figures appear on your federally required Loan Estimate.

Ready to move forward?

Turn these numbers into a real pre-approval

Continue on our secure application page. Your Simply Approved Mortgages Loan Officer will review your numbers and follow up within one business day.

Start My Approval →See Today's RatesOr call 877-813-7219

No obligation. Soft-pull options may be available.*

Credit Documentation & Monitoring

Credit Reports and Credit Monitoring for Florida mortgage pre-approval

Credit is one of the four underwriting buckets every lender reviews — and one of the few you can actively improve before you apply. Monitoring your credit throughout the process helps you catch errors, fraud, and score changes early, which protects your approval timeline and your rate.

Step 1 · Lender Pull

Ordering Credit for Your Pre-Approval File

Once you sign your loan application (Form 1003) and disclosures, your Simply Approved Mortgages Loan Officer orders a tri-merge residential mortgage credit report (RMCR) from Equifax, Experian, and TransUnion. This is a hard inquiry, but FICO's model treats mortgage inquiries within a 45-day window as a single event, so shopping lenders during that window will not stack on your score.

  • What we need from you: signed borrower authorization, government-issued photo ID, Social Security number (or ITIN), and current address.
  • What the report shows underwriters: middle FICO score, open tradelines, minimum payments, late history, collections, public records, and recent inquiries.
  • How long it's valid: 120 days for conventional loans and for FHA/VA/USDA (HUD guidelines, VA Lender's Handbook Ch. 4). Older reports must be re-pulled before closing.
  • Rapid rescore: if a legitimate error is on your report, we can request a rapid rescore in 3–7 business days after you supply documentation from the creditor.
Pay for Your Credit Report →

This link redirects to our third-party credit vendor's payment portal. You pay the report fee directly so we can pull your tri-merge credit report for your pre-approval file. A credit pull is required for underwriting; this is not a commitment to lend.

Step 2 · Self-Check

Review and Monitor Your Credit at MyITINCredit.com

Before we pull your file, review and monitor your credit at MyITINCredit.com. Their $1 promotional trial gives you tri-bureau visibility plus ongoing credit monitoring so you can catch changes, disputes, or new accounts as they appear — not after they've already delayed your loan.

  • Verify accuracy: confirm names, addresses, SSN/ITIN, and every open account belong to you.
  • Dispute errors: the Fair Credit Reporting Act gives you the right to dispute inaccurate items directly with the bureau — no charge.
  • Address collections and charge-offs: a settled or paid collection can be documented in advance so it does not stall underwriting.
  • Pay down utilization: credit-card balances reported below 30% of the limit typically produce the strongest scores.
  • Avoid new credit: do not open new cards, finance a car, or co-sign for anyone from now through closing.
  • Monitor continuously: credit monitoring alerts you to new inquiries, balance changes, and potential identity theft while your loan is in process.
Check & Monitor Your Credit at MyITINCredit.com →

MyITINCredit.com is a service operated by Simply Approved Corporation (a DBA of that entity), which is the parent company of Simply Approved Mortgages LLC. Simply Approved Mortgages may receive subscription revenue if you choose to enroll. Credit monitoring through MyITINCredit.com is optional and is not required to apply for or obtain a mortgage with us. Promotional pricing, trial terms, and monitoring features are set by MyITINCredit.com and subject to change.

Why credit monitoring matters during a mortgage — A single new collection, missed payment, or unauthorized inquiry can change your qualifying score or trigger additional underwriting conditions. Typical minimum scores* — Conventional 620, FHA 580 (3.5% down) or 500 (10% down), VA no HUD minimum (most lenders 580–620), USDA typically 640, Jumbo 680–740, Doctor Mortgage 680–700+, Non-QM/DSCR varies by program, ITIN 620–680 alternative credit. Investor and lender overlays apply; individual results vary. Not a commitment to lend.

How Florida mortgage pre-approval works — typically ~24 hours*

  1. 1

    1. Apply online (~15 min)

    Complete the secure Florida application. Autosave keeps your progress; you'll get a resume link if you step away.
  2. 2

    2. Upload documents

    W-2s, most recent pay stubs, 2 months of bank statements, ID. Self-employed: 2 years of personal and business returns + YTD P&L.
  3. 3

    3. Authorize a credit pull

    Choose a soft pull for early shopping or a hard pull for a binding, underwriter-reviewed letter.
  4. 4

    4. Underwriter review + AUS

    A Simply Approved Mortgages Loan Officer and underwriter review your file and run Fannie Mae DU or Freddie Mac LPA.
  5. 5

    5. Receive your Florida letter

    Emailed to you and your Florida agent — updated to match your accepted purchase price when applicable.*
Expert Insight

What a Simply Approved Mortgages Loan Officer watches for in Florida: Documentary stamp tax on the deed (0.7% outside Miami-Dade / 0.6% + surtax inside Miami-Dade), documentary stamps on the note (0.35%), and a 0.2% intangible tax on the mortgage are unique to Florida. We surface these before you write an offer, not after inspection.

Simply Approved Mortgages Team
Licensed Loan Officers • NMLS# 2620881

Florida pre-approval document checklist

✓

Income

Two most recent pay stubs, W-2s (2 years). Self-employed: 2 years personal + business tax returns and a YTD P&L.

✓

Assets

Two months of statements for every account used for down payment, closing costs, and reserves — all pages.

✓

Identity

Government-issued photo ID; Social Security card or ITIN letter if applicable.

✓

Florida property

Purchase contract once you have one, HOA/condo docs if applicable, and any Florida-specific DPA paperwork.

✓

Credit

Authorization for a tri-merge credit pull — soft first, hard when you're ready for a binding letter.

✓

Explanations

Letters of explanation for any large deposits, credit inquiries, gaps in employment, or derogatory items.

Florida pre-approval: pros & cons

Pros

  • ✓ Listing agents in Miami and across Florida take verified offers seriously.
  • ✓ Locks in your DTI, credit, and asset picture before you write on a Florida home.
  • ✓ Unlocks Florida-specific DPA programs like Florida Hometown Heroes.
  • ✓ Underwriter-reviewed — not just an auto-generated letter.
  • ✓ Multi-lender inquiries within 45 days count as one for FICO scoring.

Cons / Watch-outs

  • • Hard credit pull typically drops your FICO by fewer than 5 points.
  • • Letter is typically valid 60–90 days — refresh needed if you shop longer.
  • • Does not guarantee final loan approval — appraisal, title, and insurance still apply.
  • • New debt, job changes, or large unsourced deposits between now and closing can void it.
  • • Florida-specific overlays (insurance, HOA, condo) may narrow eligibility on some properties.
Wholesale advantage

Compare loan officer compensation on your mortgage quote

Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.

Simply Approved Mortgages compensation (1.5%)$4,500
Quote you entered (2.75%)$8,250

Compensation difference on this illustration: $3,750.

How lower compensation can help you

Room for a lower rate

When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.

Possible credits toward closing

Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.

More purchasing power

A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.

Wholesale, not retail

As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.

Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.

Get a second opinion on your Loan Estimate

Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.

Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.

Florida Mortgage Pre-Approval — Frequently Asked Questions

Answers to the most common Florida mortgage pre-approval questions, written by licensed loan officers.

A Simply Approved Mortgages Loan Officer typically issues a verified Florida mortgage pre-approval within ~24 hours of a complete online file*. Timing varies by program, documentation, and investor overlays.
Florida Pre-Approval Request

Ready to take the next step?

Pick your loan type and complete a short, tailored request on our secure application page. Your Simply Approved Mortgages Loan Officer follows up within one business day.

Start My Approval →See Today's RatesOr call 877-813-7219

No obligation. Soft-pull options may be available.*

Trusted government resources

These independent government resources can help you research mortgage programs, rates, and your rights before you apply.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.

Explore the full guide

Keep reading — the rest of the Florida buying playbook

Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.

Guide

Mortgage Pre-Approval (National Guide)

The full national pre-approval playbook — process, documents, timelines.

Read the guide →

Guide

Pre-Qualification vs Pre-Approval

Why sellers only trust one — and which one you actually need.

Read the guide →

Guide

How Much Home Can I Afford?

Real DTI, taxes, insurance, and reserves against your income.

Read the guide →

Guide

First-Time Home Buyer Guide

Programs, grants, and the exact playbook for buying your first home.

Read the guide →

Guide

Purchase Mortgage Programs

FHA, VA, USDA, Conventional, Jumbo, Doctor — compared.

Read the guide →

Guide

Closing Costs Explained

Every closing-cost line item and how to lower it.

Read the guide →

Guide

Document Checklist

Everything an underwriter will ask for — pulled into one list.

Read the guide →

Other State Guides

Mortgage pre-approval in other states we serve

Colorado Pre-Approval

Median: $585,000 · Closing: 2.0%–3.5% of purchase price (typical*)

From the Blog

Florida mortgage insights & guides

Plain-language articles to help you understand the home loan process, save on closing costs, and make confident decisions.

View all articles→
First-Time Buyers

7 things every first-time homebuyer should know before applying

From credit prep to down payment assistance, here’s how to walk into your first mortgage application with confidence.

May 28, 20266 min read
Veterans

Using your VA loan benefit: a step-by-step guide

Eligibility, the Certificate of Eligibility, funding fees, and how to maximize zero-down purchasing power.

May 14, 20268 min read
Closing Costs

Where your closing costs actually go (and where you can save)

A line-by-line breakdown of the Loan Estimate and the fees that are negotiable versus fixed.

Apr 30, 20265 min read

Simplify Your Mortgage Journey with These Resources

Home Value Report
Check Your Credit
Mortgage Calculator
Home Affordability Calculator
Pay for my Credit Report
Mortgage Document Checklist
Down Payment Assistance
Native American Home Loans
FHA Loan Limits
See Today's Rates
Refinance Guide
Pre-Approval Request

Start My Approval

Complete this short request and a Simply Approved Mortgages Loan Officer will personally review your scenario. The form only asks what your program actually needs. Submitting it is not an application for credit and is not a commitment to lend.

What are you looking to do?

Pick one — the form adapts.

Pick a loan type

Programs for buying a home.
Government & conventional
Specialty credit
Build & renovate

Conventional loan — 3–20% down · 620+ FICO

Tell us about your scenario

The form below is tailored to Conventional loan — only the questions and documents your program needs.

Step 1 of 2 · about 90 seconds
See your options — one short screen
Encrypted connection (HTTPS) NMLS# 2620881 Equal Housing Opportunity

Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Purchase price and down payment help us size the conforming loan.

What's your goal?
Purchase price$450,000
$
Down payment (10.0%)$45,000
$

A range is enough here — no credit report is pulled and your credit is not affected.

Estimated monthly payment at these numbers
$3,431

Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.

Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.

No obligation to apply Encrypted connection Verify NMLS# 2620881
Equal Housing OpportunityEqual Housing OpportunityMortgage Broker — Not a LenderNMLS ID# 2620881NMLS Consumer AccessFlorida Mortgage Broker License #MBR7685Colorado Mortgage Company Registration

Licensing & Disclosures

Simply Approved Mortgages LLC | NMLS #2620881

Florida Branch Office (Miami, FL) | Branch NMLS #2688012

Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration

Business Phone: (877) 813-7219

Equal Housing Opportunity

Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.

Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.

Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.

Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.

Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.

Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.

Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.

Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.

Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.

No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, investment, estate-planning, or individualized government-benefits advice. Consumers should consult appropriate qualified professionals regarding their individual circumstances.

Third-party content. References or links to government agencies, lenders, assistance programs, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.

NMLS Consumer Access: Verify Simply Approved Mortgages LLC, NMLS #2620881.

Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.

How this page connects

Where this fits in the buying a home library

This is the Florida page for mortgage pre approval.

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Ask Sam AI

Ask SAM anything about mortgages

SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.

Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.

SAM is an AI assistant — not a licensed loan officer, attorney, CPA or financial adviser. Answers are educational only, are not a quote, lock, offer or commitment to lend, and material loan terms must be reviewed by a Simply Approved Mortgages Loan Officer. Never share SSN/ITIN, date of birth, account numbers or passwords in chat. Residential mortgage loans are arranged in Florida and Colorado. Start My Approval.

Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

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Purchase market update

What buyers should know this month

November 2026

30-Yr Fixed · national avg

—

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15-Yr Fixed · national avg

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2026 buying power

Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125

What it means for purchase buyers in November 2026: Conventional fixed rates move weekly with the bond market, so the number you see today is the national average — not your locked rate. Federal loan limits for 2026 are published by FHFA and HUD; high-cost counties carry higher caps. Page reviewed November 2026 (2026 program year). Sources: Freddie Mac PMMS, FHFA, HUD. Individual results vary.
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