What credit score do I need to buy a home in Florida?

Minimums vary by program: FHA generally allows 580 with 3.5% down (or 500 with 10% down under HUD rules), Conventional usually requires 620, VA and USDA are subject to lender overlays, and Jumbo often starts higher. Florida Housing programs typically add their own credit and income requirements, so we confirm both the loan program and assistance-program rules before issuing a pre-approval.

Can I qualify for a Florida mortgage if I am self-employed?

Yes. Self-employed Florida buyers usually document income with two years of federal tax returns, year-to-date profit-and-loss statements, and business bank statements. Bank-statement, 1099-only, DSCR, and other Non-QM options may be available when tax returns do not reflect qualifying income, subject to Ability-to-Repay and program rules.

Can I use gift funds for a Florida down payment?

Yes. FHA, VA, USDA, and Conventional programs generally allow eligible gift funds with a signed gift letter and transfer documentation. Florida Housing or local SHIP programs may have additional source-of-funds and homebuyer-education rules that must be followed.

Are FHA loan limits different in Florida?

FHA limits are set county-by-county by HUD. Most Florida counties sit at or near the FHA floor, but Monroe County (Florida Keys) and some coastal high-cost counties have higher limits. We confirm your county limit on the official HUD lookup before issuing a pre-approval.

Does Florida have a first-time home buyer program?

Yes — the Florida Housing Finance Corporation runs first-time-buyer first-mortgage products (HFA Preferred, FHA-financed FL programs) paired with DPA seconds like FL Assist. Florida Hometown Heroes specifically targets Florida workforce occupations and offers significant down-payment and closing-cost help for eligible buyers.

How does Florida’s lack of a state income tax affect my mortgage qualification?

It does not change qualification — lenders use gross income, not after-tax income. It may, however, change how much home you can afford on the same paycheck because more of your gross income remains in your budget for housing and reserves.

Do I need flood and wind insurance in Florida?

It depends on the property. Lenders require flood insurance if your home is in a FEMA-designated Special Flood Hazard Area, and many Florida coastal counties effectively require separate wind/hurricane coverage. We factor real insurance quotes into your DTI and Loan Estimate so there are no payment surprises.

Can I buy a condo in Florida with an FHA or VA loan?

Yes, if the condo project is FHA- or VA-approved or eligible for single-unit approval. Florida has thousands of approved projects; we check the official HUD/VA approved-condo lists before going under contract.

Can I use a USDA loan in Florida?

Yes. USDA $0-down financing can work in many eligible rural and smaller-town Florida areas when the exact property address passes the official USDA eligibility map and household income fits USDA limits. USDA eligibility is address-specific, so we verify the property before recommending the program.

Can I use a VA loan in Florida?

Yes. Eligible veterans, active-duty servicemembers, and qualifying surviving spouses can buy with $0 down and no monthly mortgage insurance, subject to VA eligibility, residual-income rules, and the VA funding fee unless exempt. Florida has major military markets near NAS Jacksonville, MacDill AFB, NAS Pensacola, Eglin AFB, Hurlburt Field, Tyndall AFB, and Patrick SFB.

How much are closing costs in Florida?

Florida closing costs commonly include lender fees, title charges, recording fees, prepaid taxes and insurance, escrow setup, documentary stamp tax, and intangible tax. Final cash to close depends on county, title company, insurance premium, negotiated seller credits, lender credits, and any Florida Housing or SHIP assistance.

How long does it take to close on a Florida home?

Industry average is around 43 days. Many of our recent Florida purchase files close in roughly 21 days when appraisal, title, and insurance binders cooperate. Coastal/condo files sometimes take longer because of HOA documentation and wind-mitigation reports.

Does Simply Approved Mortgages charge an origination fee on Florida loans?

Yes. On eligible residential transactions our compensation is generally a 1.50% lender-paid structure — the lender pays our broker compensation, so you don’t pay us a separate broker fee — disclosed on your Loan Estimate. Loan-level pricing, third-party fees (appraisal, title, recording), prepaid escrows, discount points, seller credits, and lender credits are itemized so you can compare line-by-line.

What is the median home listing price in Florida?

The Federal Reserve Bank of St. Louis (FRED) publishes a monthly Florida median listing price. The live tile on this page refreshes from FRED; actual prices vary widely between South Florida, Tampa Bay, Orlando, Jacksonville, Southwest Florida, the Panhandle, and inland counties.

What is the homeownership rate in Florida?

The U.S. Census Bureau publishes an annual Florida homeownership rate through FRED (series FLHOWN). The live tile above shows the most recent published value with its as-of period; individual qualification still depends on your income, debts, assets, credit, property, and program.

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Published November 14, 2026Last updated November 14, 2026

Florida · 2026 Buyer's Guide

Purchase Mortgages in Florida, Built for the Florida Market

Every federal loan program, paired with Florida Housing DPA (Hometown Heroes, FL Assist, SHIP), real Florida property-tax and insurance reality, and a Simply Approved Mortgages Loan Officer licensed to originate in Florida.

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A coastal Florida home with palm trees, tile roof, and tropical landscaping at golden hour

Quick answerSummary

✓Every federal program (FHA, VA, USDA, Conventional, Jumbo, Doctor, DSCR) available in Florida
✓Florida Hometown Heroes and FL Assist DPA stackable with most programs*
✓County-level FHA and conforming limits confirmed before pre-approval
✓1.5% lender-paid compensation model on many loans — compensation may vary by program, lender, and state requirements
✓Flood, wind, and condo-approval realities priced into your Loan Estimate
✓Licensed in Florida — NMLS# 2620881

Written by

Simply Approved Mortgages Team

Licensed Loan Officers · NMLS# 2620881

12 min read·Independently researched · No paid product placement

Sources & .gov links verified liveVerified against 11 official .gov / agency sources

Buying a home in Florida

Purchase mortgages built around what Florida buyers actually deal with.

Every state runs the same federal loan programs — FHA, VA, USDA, Conventional, Jumbo — but the county loan limits, property tax rates, insurance picture, and down-payment-assistance options are different in Florida. We work with Florida buyers every week and structure files around those local realities, not a one-size-fits-all template from another state.

Florida has no state income tax, but property taxes — millage rates set by counties, school boards, and special districts — and homeowners insurance (especially wind/flood coverage near the coast) are a meaningful part of the monthly payment. The Florida Department of Revenue publishes county-level millage data; coastal counties typically run higher on insurance, while inland counties run lower. Source: Florida Department of Revenue (floridarevenue.com).

Our team is licensed to originate purchase mortgages in Florida (NMLS# 2620881). We are not affiliated with HUD, the VA, USDA, or the Florida Housing Finance Corporation — government program details should always be verified on the official agency websites linked below.

Florida buying snapshot · 2026

Conforming baseline (1-unit): $832,750
FHA range (1-unit): $541,287 – $1,249,125
High-volume counties we close in: Miami-Dade · Broward · Palm Beach · Orange · Hillsborough · Pinellas · Duval · Lee · Collier · Monroe

Sources: FHFA · HUD FHA limits · FL county lookup.

Next step

Start My Approval for a Florida purchase mortgage

A written pre-approval from a Simply Approved Mortgages Loan Officer tells you exactly how much you can spend in Florida — with real local taxes, wind, flood, and HOA costs built into your DTI — before you tour homes or make an offer.

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What · Florida

What is a purchase mortgage in Florida?

A purchase mortgage in Florida is a home loan used to buy a primary residence, second home, or investment property anywhere in the state — from a single-family in Jacksonville to a beachfront condo in Miami-Dade, a Tampa Bay townhome, or a Naples or Sarasota new-construction home. The federal loan products (FHA, VA, USDA, Conventional, Jumbo) are the same nationwide, but the way they get underwritten in Florida is shaped by Florida-specific realities: county FHA loan limits, hurricane and flood insurance requirements, condo-project approval rules, and the property-tax-and-insurance escrow line that drives your real monthly payment.

For most Florida buyers the choice comes down to FHA (3.5% down, flexible credit), Conventional 97 or HomeReady/Home Possible (3% down for first-time Florida buyers), VA (0% down for eligible Florida veterans and active-duty servicemembers stationed at bases like NAS Jacksonville, MacDill AFB, NAS Pensacola, or Eglin AFB), or USDA (0% down in USDA-eligible rural Florida ZIP codes outside the major metros). Jumbo financing kicks in above the county conforming limit, which matters in Monroe County (Florida Keys) and parts of coastal South Florida.

How · Florida

How the Florida home-buying process works step by step

Florida purchase mortgages follow the standard federal timeline, but a few Florida-only steps get added in. We coordinate them up front so the file does not stall in underwriting.

Pre-approval — full income, asset, and credit review against FHA, VA, Conventional, USDA, and Jumbo guidelines using your real Florida county loan limit.
Florida-specific insurance quotes — homeowners, separate wind/hurricane, and (if applicable) FEMA flood are quoted early so escrow numbers on the Loan Estimate are realistic.
Condo or HOA review — for Florida condos we confirm FHA/VA project approval or single-unit approval and review the HOA budget, reserves, and structural-integrity-reserve-study compliance under Florida statute 718.
Appraisal with wind-mitigation and 4-point context — older Florida homes typically need these inspections for insurance binding.
Title and survey — Florida is an attorney-or-title-agent closing state; we work with your chosen Florida title company to clear title, prorate taxes, and finalize closing disclosure.
Closing — typical Florida purchase files close in roughly 21 days on a complete file; the industry average is closer to 43 days.*

Why · Florida

Why Florida buyers work with a Florida lender, not a national call center

Florida real estate has quirks national lenders routinely miss: coastal insurance markets that have tightened since 2023, condo lending overlays after the Surfside reforms, and county-level millage rates that vary by tens of thousands of dollars in annual escrow between, say, Miami-Dade and Pasco County. A Florida loan officer who actually closes Florida files every week prices those into your Loan Estimate from day one instead of surprising you with a payment change at clear-to-close.

At Simply Approved Mortgages, transparency is one of our core values. For most residential mortgage loans, we use a 1.50% lender-paid compensation model, including many Conventional, FHA, VA, USDA, Jumbo, Non-QM, ITIN, and DSCR programs. Certain specialty products such as Construction Loans, Reverse Mortgages, HELOCs, and other specialized financing may use a different compensation structure based on lender, product, and legal/regulatory requirements. In Florida, where wind insurance, flood insurance, HOA dues, and CDD assessments may also affect the monthly budget, we encourage every client to compare the complete financing package—interest rate, APR, lender fees, discount points, closing costs, monthly payment, loan features, and overall suitability—before choosing a mortgage. Compensation is disclosed in accordance with applicable federal and state laws.

Florida buyer question

Are Florida condos harder to finance than single-family homes?

Often, yes. Florida condo loans require either project-level approval (FHA, VA, Fannie Mae, Freddie Mac) or, in some cases, a one-time single-unit approval. After the 2021 Surfside collapse, Fannie Mae and Freddie Mac issued stricter condo-eligibility rules around deferred maintenance, special assessments, and structural-integrity reserve studies — and Florida statute 718 added milestone-inspection and reserve-funding requirements for buildings three stories or taller. We check project status on the official HUD, VA, and Fannie Mae condo lists before you go under contract so you do not lose your earnest money on a non-warrantable building.

Florida buyer question

How do Florida property taxes and insurance affect what I can afford?

Florida has no state income tax, but property tax (set by county, school board, and special districts via millage rates) and insurance (homeowners + wind + flood when applicable) typically make Florida escrow lines larger than the national median. Lenders qualify you on the full PITIA payment, so a $400,000 home in a coastal Florida ZIP with $6,000+ wind-and-flood insurance qualifies very differently than the same $400,000 home inland. We pull real Florida tax and insurance numbers — not generic estimates — into your debt-to-income calculation before issuing a pre-approval letter.

Florida · Down Payment Assistance

Down payment assistance (DPA) programs for Florida buyers

Most buyers in Florida qualify for some form of down-payment or closing-cost assistance — the right stack depends on your income, the property address, your loan program, and (for some programs) your occupation. Below is the full DPA landscape available to Florida buyers in 2026, including our own Simply Approved Mortgages Homebuyer Assistance approach.

Why down payment assistance matters

How DPA helps, why it can help, and why American buyers in Florida use it

The single biggest obstacle for most first-time and moderate-income buyers is not credit or income — it is the cash needed to close. Down Payment Assistance (DPA) programs are designed to bridge that gap so qualified buyers can stop renting and start building equity sooner.

How DPA helps

DPA delivers funds — as a grant, forgivable loan, deferred second mortgage, or repayable second lien — that can be applied to your down payment, closing costs, or prepaid escrows. That means less cash out of pocket at closing and, in many cases, the ability to keep savings intact for reserves, moving expenses, and emergencies.

Why it can help you

The CFPB and HUD both confirm that thousands of federal, state, county, and city DPA programs exist. Many buyers assume they will not qualify — but most DPA programs allow moderate incomes, non-first-time buyers, or workforce occupations like teachers, nurses, and first responders. Layering DPA on an FHA, VA, USDA, or Conventional loan is one of the fastest ways to shorten the "how long until I can buy" timeline.

Why Americans should use it

The Federal Reserve's Survey of Consumer Finances shows homeowners typically hold far more household wealth than renters at comparable income levels. DPA does not lower the price of a home — it lowers the barrier to entry so more American families can start building that equity sooner, using government-backed programs paid for with public and philanthropic funds already set aside for that purpose. Unused DPA dollars simply return to the program pool at year end.

Educational information only. DPA eligibility, funding availability, income limits, purchase-price caps, occupancy rules, and repayment terms vary by program and change without notice — always confirm details directly with the program administrator. Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, FHFA, the CFPB, or any state Housing Finance Agency. All loans subject to credit approval and underwriting. Equal Housing Opportunity. NMLS# 2620881.

Simply Approved Mortgages — Our DPA Program

Simply Approved Mortgages Down Payment Assistance

Simply Approved Mortgages offers a repayable second-lien down-payment and closing-cost assistance option for FHA purchase borrowers in Florida. It is not a grant — it is a 10-year fixed second mortgage that layers on top of a 30-year fixed FHA first mortgage, and it can be used to cover your down payment, closing costs, or prepaids.

• 580 minimum credit score — Non-Traditional Credit is allowed if you do not have a traditional FICO score, subject to FHA underwriting guidelines.
• No income cap & no first-time buyer requirement — You may own other property at closing and there is no maximum income limit, unlike many state or local DPA grants.
• Assistance of 2.5%, 3.5%, or 5% — calculated as a percentage of the lesser of the purchase price or appraised value, and applied to down payment, closing costs, or prepaids.
• 30-year fixed FHA 1st lien + 10-year fixed 2nd lien — the second-lien DPA is repayable over 10 years at a rate 2% higher than the first mortgage.
• Eligible properties — 1-unit residences, PUDs, 2-4 unit properties, FHA-approved condominiums, and manufactured homes (single-wide and double-wide). Primary residence only.
• Manual underwriting permitted — DTI is determined by the AUS or manual underwriting according to FHA guidelines, plus program-specific payment-shock review.
• 1.50% lender-paid compensation — on eligible residential transactions the lender generally pays our broker compensation, so you don't pay us a separate broker fee; disclosed on your Loan Estimate. Actual compensation may vary by lender, loan program, and state requirements.

Program eligibility is subject to investor and FHA underwriting guidelines. Not available in NY, WA, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa. The second lien is repayable over 10 years with a rate 2% above the first mortgage; it generally cannot be resubordinated for the first 3 years (2.5% / 3.5% assistance) or 10 years (5% assistance), and the balance becomes due on sale or transfer. Homebuyer education from an approved provider is required within six months of closing. This is a summary, not a complete program description; rates, prices, guidelines, fees, costs, terms, and conditions are subject to change without notice. Loan approval is subject to credit, income, asset, appraisal, and property review; binding figures appear only on your Loan Estimate and Closing Disclosure. Simply Approved Mortgages is not affiliated with HUD, FHA, the VA, USDA, FHFA, CHFA, FHFC, metroDPA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

Simply Approved Mortgages DPA

DPA amount calculator & eligibility checker

Estimate your Simply Approved Mortgages Down Payment Assistance at 3.5% or 5% of the lesser of purchase price or appraised value, and see the 10-year repayable second-lien structure layered on top of a 30-year fixed FHA first mortgage. Then check whether you meet the core program rules.

Amount calculator

Purchase priceAppraised value

Assistance tier (% of lesser of price or appraisal)

Illustrative 1st-mortgage interest rate (%)Used only to show the 2nd-lien rate (1st rate + 2%). Not a quote.

Lesser of price or appraisal: $400,000
Estimated DPA at 3.5%: $14,000
2nd-lien term: 10-year fixed, repayable
2nd-lien rate (illustrative): 8.500% (1st rate + 2%)
Estimated 2nd-lien monthly P&I: $174/mo

Illustrative only — not a quote, lock, offer, or commitment to lend. Actual assistance, rate, and payment depend on the final loan amount, your credit profile, appraisal, and program guidelines in effect at closing. Binding figures appear only on your Loan Estimate and Closing Disclosure.

Eligibility checker

Your approximate credit score600+ lowest middle score required (620 on manufactured homes). No-credit and non-traditional credit files are not eligible.How will you occupy the property?Property type

Do you have documentable, qualifying income (W-2, self-employment, retirement, etc.)?

Are you willing to complete an approved homebuyer education course before closing?

Is the property located in NY, WA, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa?

Answer each question above to see your preliminary eligibility result.

This is a preliminary self-check, not an underwriting decision or a credit decision. It does not pull your credit and is not a quote, lock, offer, or commitment to lend. Program rules, fees, costs, terms, and conditions are subject to change without notice. Simply Approved Mortgages is not affiliated with HUD, FHA, the VA, USDA, FHFA, CHFA, FHFC, metroDPA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

Start My Approval →See Today's Rates →

Next steps

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Emailing your Down payment assistance calculator scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Statewide Florida DPA programs

Florida Housing Finance Corporation — Homebuyer Programs →

FL Hometown Heroes, HFA Preferred, Florida Assist, and the Florida Homeownership Loan Program (FL HLP) down-payment and closing-cost options.

Hometown Heroes Housing Program (Florida) →

Florida’s statewide DPA program for income-qualified, full-time Florida workers (eligible occupations updated by FHFC).

Local SHIP (State Housing Initiatives Partnership) programs →

SHIP funds flow to every Florida county and many cities; check your county’s SHIP office for local DPA, rehab, and first-time-buyer assistance.

National DPA & counseling resources

HUD-Approved Housing Counseling Agencies →

Free or low-cost pre-purchase counseling — required by most DPA programs and FHA buyers can use it to satisfy first-time-buyer education requirements.

HUD: Local Homebuying Programs (State Lookup) →

Official HUD directory of state, county, and city homebuyer programs.

Native American Direct Loan (NADL) / Section 184 →

For enrolled members of federally recognized tribes — separate eligibility rules and low down-payment options.

Every external DPA program above is administered by an independent agency or nonprofit. Eligibility, funding availability, income limits, purchase-price caps, property-eligibility maps, repayment terms, and program rules change without notice — confirm details directly with the program administrator. Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by any of the agencies, nonprofits, or programs listed. Listing a program does not guarantee approval. Information current to the best of our knowledge as of 2026.

Live Florida housing data

Florida housing market — live data & official statistics

We don't republish stale numbers. Every figure below links to the official source so you're always looking at the most recent Florida data the agency itself has published. Live tiles refresh daily from the Federal Reserve Bank of St. Louis (FRED). Your Simply Approved Mortgages Loan Officer will pull the current snapshot when we structure your pre-approval.

Last verifiedPending FRED refresh

Florida All-Transactions House Price Index

—

FHFA All-Transactions House Price Index for single-family homes statewide (FHFA via FRED). Used to gauge YoY appreciation in Florida.

Federal Reserve Bank of St. Louis (FRED) →

Last verifiedPending FRED refresh

Florida homeownership rate

—

Share of occupied Florida housing units owned by the occupant (U.S. Census via FRED).

Federal Reserve Bank of St. Louis (FRED) →

Last verifiedPending FRED refresh

Florida median household income

—

U.S. Census ACS median household income for Florida (U.S. Census via FRED) — drives DTI thresholds and DPA eligibility.

Federal Reserve Bank of St. Louis (FRED) →

Last verifiedPending FRED refresh

Florida median listing price

—

Median active-listing price across Florida — housing market series distributed by the Federal Reserve Bank of St. Louis (FRED).

Federal Reserve Bank of St. Louis (FRED) →

Reviewed quarterlyJuly 2024

Florida population

23.0M+

Latest Census Bureau population estimate for Florida.

U.S. Census QuickFacts →

Reviewed quarterlyAnnual

Florida single-family building permits

See annual

Annual single-family residential building permits authorized statewide.

U.S. Census Building Permits Survey →

Reviewed quarterlyAnnual

Florida Housing — production summary

See report

FHFC annual report — single-family loans funded under FL Assist, Hometown Heroes, and HFA Preferred.

Florida Housing Finance Corporation →

Reviewed quarterlyAnnual

Florida HMDA data — CFPB explorer

Browse loans

Public Home Mortgage Disclosure Act dataset — drill into Florida and county-level originations.

CFPB HMDA Data Browser →

Figures shown are the most recent values published by the cited federal or state agency. Live tiles refresh from the Federal Reserve Bank of St. Louis (FRED) API; agency publication cadence is monthly, quarterly, or annual. Loan-level pricing, eligibility, and final terms are determined at underwriting — numbers here are educational and not a quote, lock, offer, or commitment to lend. Your Simply Approved Mortgages Loan Officer will pull the current snapshot when we structure your pre-approval.

Population, income & housing demographics

U.S. Census Bureau — QuickFacts →

Median household income, owner-occupancy rate, median home value, and population for Florida, updated by the Census Bureau.

Home price index (HPI)

FHFA House Price Index →

Official quarterly purchase-only and all-transactions HPI for Florida and most MSAs.

Local unemployment rate

BLS Local Area Unemployment Statistics (LAUS) →

County- and MSA-level unemployment data, updated monthly by the U.S. Bureau of Labor Statistics.

Mortgage lending activity (HMDA)

CFPB HMDA Data Browser →

Loan-application volume, denial rates, average loan amounts, and lender mix for Florida.

Property tax & mill levies

Florida Department of Revenue →

Official millage rates, assessed values, and exemption rules for Florida.

Current conforming & FHA loan limits

FHFA + HUD →

Florida conforming loan limits set annually by FHFA.

Linked figures are published by the named agency, not Simply Approved Mortgages. We do not republish or guarantee third-party statistics. Past market performance is not indicative of future results. All loan figures shown anywhere on this page are illustrative and not a quote, lock, offer, or commitment to lend; binding figures appear only on your Loan Estimate.

Florida Housing Market

Buying a home in Miami, Orlando, Tampa, Jacksonville, Fort Lauderdale, West Palm Beach, Naples, Sarasota, or the Panhandle

Florida buyers need more than a rate quote. The real payment depends on the county, property type, tax bill, homeowners insurance, wind or hurricane coverage, FEMA flood-zone status, condo or HOA rules, CDD assessments, and whether Florida Housing or local SHIP assistance can be layered into the file. South Florida condos, Tampa Bay and Orlando new construction, Jacksonville and Panhandle VA purchases, Southwest Florida second-home markets, and inland USDA-eligible towns each require a different mortgage structure.

Most Florida counties use the standard county-level HUD FHA and FHFA conforming limits, while Monroe County and some coastal/high-cost areas require closer review. We confirm your county-level limit on the official HUD and FHFA lookups before issuing a pre-approval, then layer Florida Housing, Hometown Heroes, FL Assist, or local SHIP programs only where you meet the published requirements and funding is available.

Market context above is general information for Florida home buyers and is not an offer to lend, a rate lock, or a commitment to lend. Loan approval is subject to credit, income, asset, appraisal, and property review. Simply Approved Mortgages is licensed to originate mortgages in Florida (NMLS# 2620881) and is not affiliated with HUD, the VA, USDA, Florida Housing Finance Corporation, SHIP, or any municipal program.

2026 HUD Fair Market Rents · Florida

What renters in Florida could buy at payment parity

We pulled HUD's published 2026 2-bedroom Fair Market Rents for Floridacounties and calculated the loan amount whose full PITI payment would roughly match today's median rent. It's a quick way to see if buying makes sense in your area.

*Illustrative only for the Florida areas listed above — not a quote, lock, offer, or commitment to lend. Assumes 6.75% 30-year rate, ~22% of payment going to taxes/insurance/HOA, and 3.5% down. Binding figures appear on your Loan Estimate. Individual results vary. Florida rent figures: HUD User FMR 2026 .

Next steps

See Today's Rates

Emailing your Florida rent vs buy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Florida context

Florida housing market overview

Florida is not one mortgage market. South Florida condos, Tampa Bay single-family homes, Orlando new construction, Jacksonville VA-heavy neighborhoods, Southwest Florida retirement and second-home purchases, Panhandle military markets, and inland USDA-eligible towns all price differently. A Florida purchase mortgage has to be structured at the county, ZIP-code, property-type, and insurance level — not with a generic statewide payment estimate.

South Florida condos and jumbo files

Miami-Dade, Broward, Palm Beach, and Monroe counties often require extra attention to condo warrantability, reserves, special assessments, wind coverage, flood zones, jumbo overlays, foreign-national documentation, and ITIN program rules.

Tampa Bay, Orlando, and Central Florida

Hillsborough, Pinellas, Pasco, Polk, Orange, Osceola, Seminole, and Lake counties commonly involve FHA, Conventional, VA, and Florida Housing assistance layered with fast-moving insurance quotes and HOA or CDD fee review.

North Florida and Panhandle military markets

Duval, Clay, Escambia, Okaloosa, Santa Rosa, Bay, and surrounding counties see strong VA activity tied to NAS Jacksonville, NS Mayport, NAS Pensacola, Eglin AFB, Hurlburt Field, Tyndall AFB, and nearby installations.

Inland and rural Florida

Many Heartland, North Central, and smaller inland communities may qualify for USDA Single-Family Housing if the exact address passes the official Rural Development eligibility map and household income fits USDA limits.

Sources: FHFA conforming limits, HUD FHA limits, USDA Rural Development eligibility. Individual pricing depends on credit, income, property, occupancy, LTV, DTI, and program. See our live conforming limits and live FHA limits pages.

Florida taxes

Property taxes in Florida

Florida property taxes are set locally through county, school-board, municipal, and special-district millage rates. The county Property Appraiser sets assessed value, the Tax Collector bills the taxes, and owner-occupied buyers may file for the Florida Homestead Exemption by March 1 of the year after purchase.

For mortgage qualification, the important point is simple: the escrow line has to reflect the actual county tax bill and likely reassessment after sale. Two Florida homes with the same price can produce very different PITIA payments because homestead status, CDD fees, municipal millage, and special assessments vary by address.

Homestead Exemption

Eligible primary-residence owners may reduce taxable value by up to $50,000 and receive Save Our Homes assessment-cap protection after approval. The county Property Appraiser confirms eligibility and filing requirements.

Millage and special districts

Counties, cities, schools, and special districts each set millage. Newer master-planned communities may also include CDD assessments that affect the full monthly housing payment.

Reassessment after purchase

Florida taxable value can change after a property sells. We review the current tax bill and estimate the post-purchase escrow impact before you rely on a pre-approval number.

Sources: Florida Department of Revenue — Property Tax Oversight. Tax figures are property-specific. Consult the county Property Appraiser and Tax Collector for the property you are considering.

Florida cash to close

Closing costs in Florida

Florida buyers typically need closing costs in addition to the down payment. The final number depends on the county, title company, property type, insurance premiums, prepaid escrows, seller credits, lender credits, and whether state or local DPA is layered into the file.

Lender charges

Includes our 1.5% lender-paid compensation, credit report, and any discount points or lender-paid costs. Compare the A + B + C + J sections on your Loan Estimate.

Florida taxes and recording

Florida commonly includes documentary stamp tax, intangible tax on the mortgage, recording fees, and title-related charges. Miami-Dade uses a different deed documentary-stamp rate than most other counties.

Prepaids and escrow

Homeowners, wind/hurricane, and flood insurance premiums can materially affect cash to close and DTI. We quote these early so your Loan Estimate does not rely on a generic insurance placeholder.

Sources: CFPB Closing Disclosure guide, Florida documentary stamp tax. Figures are illustrative; your actual closing costs depend on the lender, title company, property, program, and negotiated credits.

Florida assistance

Florida first-time buyer programs

Florida Housing Finance Corporation offers first-mortgage products and down-payment assistance options that may be layered with FHA, VA, USDA, or Conventional financing when the borrower, property, income, and purchase price meet program rules. Local SHIP funding is administered by counties and participating cities, so availability can change by location and fiscal year.

Florida Hometown Heroes

Statewide assistance administered by Florida Housing for eligible Florida workforce borrowers. Eligibility, funding availability, income limits, and program terms must be confirmed directly with FHFC.

FL Assist and HFA Preferred

Florida Housing first-mortgage products can pair with deferred-payment second mortgages or reduced-MI conventional options for eligible buyers.

Local SHIP programs

SHIP funds flow to every Florida county and many cities. Local administrators set income limits, funding windows, and assistance terms.

HUD-approved housing counseling

Many DPA programs require homebuyer education or counseling. Find an approved agency at HUD.gov/findacounselor.

Program availability, income limits, purchase-price limits, and rules change. Simply Approved Mortgages is not affiliated with FHFC, HUD, or any SHIP administrator. Verify current terms with the program before relying on assistance in your offer.

Florida underwriting

In large metros such as Orlando, Tampa Bay, Jacksonville, and South Florida, comparable sales are usually available, but fast-moving ZIPs can still create appraisal-gap risk.

Condos and waterfront homes

Florida condos, waterfront properties, and coastal homes require appraisers to account for view, building condition, reserves, assessments, flood exposure, and insurance marketability.

FHA / VA appraisal requirements

FHA and VA appraisals include minimum property standards. Safety, soundness, habitability, roof, electrical, or water-intrusion issues may need correction before closing.

New construction

Florida new-construction files require contract, plans/specs, builder documentation, final inspection, and sometimes certificate-of-occupancy timing to line up with rate-lock and closing dates.

Florida risk

Insurance considerations in Florida: wind, flood, condos, and hurricanes

Florida homeowners insurance is a mortgage qualifier. Premiums, deductible structure, roof age, wind-mitigation credits, flood-zone status, and condo master-policy coverage can determine whether a buyer still qualifies after the real escrow number is added to the Loan Estimate.

Wind / hurricane

Coastal and many inland Florida homes require careful wind coverage review. Roof age, mitigation features, and carrier appetite affect premium and binding.

Flood

Lenders require flood insurance when the property sits in a FEMA Special Flood Hazard Area. Standard homeowners insurance does not cover flood.

Condo master policy

Condo files require review of the association's master policy, deductible, reserves, budget, litigation, and special-assessment risk.

Insurance is arranged through independent licensed agents. Premiums are not final until a carrier quotes and binds the specific property. Simply Approved Mortgages does not sell insurance and is not responsible for carrier underwriting decisions.

Florida lender

Why Florida buyers choose Simply Approved Mortgages

Simply Approved Mortgages (NMLS# 2620881) works with state-licensed mortgage loan officers serving buyers across Florida. Our goal is not to maximize compensation per transaction — it is to build long-term client relationships through transparency, service, and competitive mortgage solutions.

Competitive mortgage options

We compare FHA, VA, USDA, Conventional, Jumbo, Doctor, 1%-Down, DSCR, ITIN, and Non-QM structures so you can see the actual payment and cash-to-close trade-offs.

Florida insurance awareness

We treat homeowners, wind, flood, and condo master-policy costs as mortgage qualifiers from the start of the file.

Florida Housing and SHIP navigation

When you qualify, we help layer Florida Housing programs or local SHIP assistance with the first mortgage and disclosures.

Condo and HOA review

We pre-screen project approvals, reserves, dues, assessments, and insurance so financing problems surface before contract deadlines.

Military and VA experience

We understand VA COE, entitlement, residual-income, and funding-fee rules for Florida military and veteran buyers.

Personalized guidance through closing

A Simply Approved Mortgages Loan Officer stays with you from pre-approval through closing instead of handing you to a call center.

Pre-approval letters are issued subject to underwriting review and do not guarantee final loan approval. Simply Approved Mortgages LLC is licensed in Florida (NMLS# 2620881). All programs, rates, and terms are subject to borrower and property qualification. This is not an offer to lend or a commitment to extend credit. Equal Housing Opportunity.

See the difference

See how your Florida mortgage payment compares across programs

Use our closing-cost calculator and schedule a review with a Simply Approved Mortgages Loan Officer to see how your real monthly payment and cash to close compare across FHA, VA, Conventional, and Florida Hometown Heroes.

Start My Approval →See Today's Rates

Every program, side-by-side · Florida

Find your fit in Florida in 30 seconds

Each card shows the down payment, credit minimum, who it fits in Florida, plus the honest perks and trade-offs.

Verify current terms at HUD, VA.gov, USDA RD, and FHFA. Simply Approved Mortgages is not affiliated with any government agency.

Government-insured · Florida

FHA Loan — Florida

Down

3.5%

Min FICO

580+

Rate

Market FHA pricing

Best for in Florida

First-time buyers, lower credit, higher DTI

Perks

+Down to 580 FICO (500 with 10% down)
+43% standard DTI (up to ~56.99% with AUS + compensating factors)
+Gift funds allowed for full down payment
+3.5% down on a 1–4 unit primary

Watch-outs

!MIP for life of loan when LTV > 90% (11 yrs if 10%+ down)
!County loan limits apply
!Property must meet FHA condition standards

FHA Loan details and requirements →Start a FHA Loan pre-approval in Florida →

Veterans & active duty · Florida

VA Loan — Florida

Down

Min FICO

580+ (most lenders)

Rate

Competitive market pricing

Best for in Florida

Veterans, active duty, eligible surviving spouses

Perks

+$0 down with full entitlement (no VA loan limit since 2020 Blue Water Navy Act)
+No monthly PMI ever
+Seller can pay all closing costs, plus up to 4% in concessions
+Assumable by qualified buyers later

Watch-outs

!One-time VA funding fee (waived for disabled vets)
!Primary residence only
!Property must meet VA MPRs

VA Loan details and requirements →Start a VA Loan pre-approval in Florida →

Rural & suburban · Florida

USDA Loan — Florida

Down

Min FICO

620+

Rate

Below conventional

Best for in Florida

Moderate-income buyers in eligible areas

Perks

+$0 down up to 100% LTV
+Reduced mortgage insurance vs FHA
+No loan limits — based on what you can afford

Watch-outs

!Property must be in USDA-eligible area
!Income capped at 115% of area median
!Primary residence only

USDA Loan details and requirements →Start a USDA Loan pre-approval in Florida →

Fannie & Freddie · Florida

Conventional — Florida

Down

3–20%

Min FICO

620+

Rate

Best at 740+

Best for in Florida

Buyers with 680+ credit and stable income

Perks

+PMI drops automatically at 78% LTV
+Wide property eligibility
+Available on 2nd homes & investment
+HomeReady/Home Possible discount for moderate income

Watch-outs

!Stricter credit and DTI standards
!PMI required under 20% down
!Loan limits apply (conforming)

Conventional details and requirements →Start a Conventional pre-approval in Florida →

High-balance · Florida

Jumbo Loan — Florida

Down

10–20%

Min FICO

700+

Rate

Tightly priced for strong borrowers

Best for in Florida

Loan amounts above the conforming limit

Perks

+Finance high-value homes in one loan
+Competitive rates for 720+ buyers
+Interest-only options on select programs
+Available on 2nd homes & investment

Watch-outs

!Heavier reserves required (often 6–12 months)
!Tighter appraisal review
!Higher down payment than conforming

Jumbo Loan details and requirements →Start a Jumbo Loan pre-approval in Florida →

White-coat program · Florida

Doctor / Professional — Florida

Down

0–10%

Min FICO

700+

Rate

Conventional-grade

Best for in Florida

MDs, DOs, DDS, DVMs, attorneys, CPAs, PharmDs

Perks

+Up to 100% financing on select programs
+Student loan debt treated favorably (IBR payment or, in some programs, excluded)
+Reduced or no PMI even with low down
+Future income / employment contracts may be used to qualify

Watch-outs

!Eligible degree required
!Loan limits vary by investor
!Primary residence only (most programs)

Doctor / Professional details and requirements →Start a Doctor / Professional pre-approval in Florida →

HomeReady boost · Florida

1% Down Conventional — Florida

Down

1% (we add 2%)

Min FICO

620+

Rate

HomeReady pricing

Best for in Florida

First-time buyers under 80% AMI

Perks

+You put 1%, the lender contributes 2% (up to program cap, commonly $4,000) — 3% equity at close
+Grant is not repaid
+PMI drops at 78% LTV per HPA

Watch-outs

!Income limit (80% AMI)
!Primary residence only
!Education course required

1% Down Conventional details and requirements →Start a 1% Down Conventional pre-approval in Florida →

Alt documentation · Florida

Non-QM — Florida

Down

10–25%

Min FICO

620+

Rate

Risk-based

Best for in Florida

Self-employed, 1099, asset-rich, or recent credit event

Perks

+Bank statement & P&L qualification
+Asset depletion / DSCR options
+1-year tax return programs
+Post-bankruptcy / foreclosure paths

Watch-outs

!Higher rates and reserves than QM
!Program-specific overlays
!Prepay penalties on some investor programs

Non-QM details and requirements →Start a Non-QM pre-approval in Florida →

Investor cash-flow · Florida

DSCR — Florida

Down

20–25%

Min FICO

660+

Rate

Investor pricing

Best for in Florida

Real-estate investors qualifying on rent, not personal income

Perks

+No tax returns or W-2s
+Qualify on property cash flow (DSCR ≥ 1.0 typical)
+LLC vesting allowed
+Short-term rental programs available

Watch-outs

!Investment property only
!Reserves required
!Prepay penalty common

DSCR details and requirements →Start a DSCR pre-approval in Florida →

HECM · 62+ · Florida

Reverse Mortgage — Florida

Min Age

62+

Counseling

HUD-approved

Product

FHA-insured

Best for in Florida

Homeowners 62+ who want to access equity without monthly payments

Perks

+No monthly mortgage payments required while living in the home and paying taxes/insurance
+Proceeds can be lump sum, line of credit, or monthly payments
+FHA-insured HECM with non-recourse feature
+Borrower keeps title to the home

Watch-outs

!Must be 62+ and use the home as your primary residence
!Loan balance grows over time; equity may decrease
!Upfront and ongoing mortgage insurance premiums
!HUD-approved counseling is required before application

Reverse Mortgage details and requirements →Start My Approval →

Find your program

Not sure which loan actually fits you?

Tell us your income, down payment, and credit profile — a licensed loan officer will match you to the right program and walk through the trade-offs in plain English.

Start My Approval →See Today's Rates

Apples to apples

Purchase mortgage comparison table in Florida

Real numbers, current to 2026. Loan limits update annually; we confirm your county at pre-approval. See HUD FHA limits, FHFA conforming limits, and VA home loan benefits.

Program	Min Down	Min FICO	Max DTI	PMI / MI	Loan Limit (2026)	Property Use
FHA	3.5%	580	43% (up to ~56.99% w/ AUS)	MIP for life if LTV > 90% (11 yrs if 10%+ down)	$541,287 (most counties)	Primary 1–4 unit
VA	$0	580*	50%+	None — ever	No limit if full entitlement	Primary only
USDA	$0	620	46%	Reduced MI	No fixed cap (income-based)	Primary in eligible area
Conventional	3%	620	50%	Drops at 78% LTV	$832,750 (most counties)	Primary, 2nd, investment
Jumbo	10–20%	700	43%	Varies	Above conforming	Primary, 2nd, investment
Doctor	0–10%	700	50%	None	$2M+ (varies)	Primary
1% Down Conv.	1% (+ 2% from us)	620	50%	Standard PMI	Conforming	Primary
DSCR	20–25%	660	N/A (rent-based)	Varies	$3M+ available	Investment only

*VA has no statutory FICO minimum; most investors set 580–620. High-cost counties have higher caps. Sources: FHFA, HUD, VA, USDA. Individual results vary.

Head-to-head

Conventional vs FHA, VA, and USDA — which one fits?

The four loan types most U.S. buyers actually choose between, compared on the things that move your monthly payment and cash to close.

Conventional vs FHA

FHA loans are insured by the FHA and accept lower credit (down to 580 with 3.5% down, or 500 with 10% down) and higher DTI than conventional. The trade-off is mortgage insurance: FHA charges an upfront MIP plus monthly MIP that stays for the life of the loan when LTV is greater than 90%, while conventional PMI drops automatically at 78% LTV per the Homeowners Protection Act. Below ~680 FICO, FHA almost always beats conventional on total cost; at 700+ with 5%+ down, conventional usually wins.

Source: HUD FHA. Individual results vary.

Conventional vs VA

VA loans are guaranteed by the VA for eligible service members, veterans, and certain surviving spouses. Advantages: $0 down with full entitlement, no monthly mortgage insurance ever, flexible credit. Trade-off is a one-time VA funding fee (waived for disabled vets) and primary-residence only. If you qualify, VA usually beats conventional unless you can put 20%+ down on a high-credit conventional file.

Source: VA. Individual results vary.

Conventional vs USDA

USDA Rural Development loans are guaranteed by the USDA for moderate-income buyers in eligible rural and many suburban areas. $0 down and a lower annual fee than FHA MIP, but income is capped at roughly 115% of area median and the property must sit in a USDA-eligible census tract. USDA wins on cash-to-close and monthly payment when you qualify; conventional wins on property/area flexibility and removable mortgage insurance.

Source: USDA RD. Individual results vary.

The honest trade-off

Pros and cons of buying a home in Florida with a purchase mortgage

A mortgage is a 15-to-30-year commitment. Here is the straight read on both sides before you sign.

Pros

+
Large mix of Florida loan programs.
FHA, VA, USDA, Conventional, Jumbo, DSCR, Doctor, ITIN, and Non-QM options can cover many Florida buyer profiles when the property and borrower meet program rules.
+
State and local assistance options.
Florida Housing programs, Hometown Heroes, FL Assist, and county or city SHIP funds can reduce cash to close for eligible buyers when funding is available.
+
No state income tax.
Florida does not levy a state income tax, which can help some buyers manage the overall household budget even though mortgage qualification still uses gross income.
+
Strong metro and lifestyle demand.
Miami, Orlando, Tampa Bay, Jacksonville, Sarasota, Naples, and many coastal and inland markets attract primary-home, retirement, military, and relocation buyers.
+
$0-down options for military and rural buyers.
VA supports eligible Florida veterans and servicemembers, while USDA may work in eligible rural and smaller-town Florida areas.
+
Fixed-rate protection against rent changes.
A fixed-rate mortgage locks principal and interest while rents, HOA dues, insurance, and taxes can move over time.

Cons

!
Wind, hurricane, and flood insurance can change the payment.
Insurance premiums can materially affect DTI and cash to close, especially in coastal, flood-zone, and older-home markets.
!
Florida condo reviews can be strict.
Condo financing may require project approval, reserve review, insurance confirmation, and special-assessment documentation.
!
Property taxes can reset after purchase.
Homestead status, reassessment, millage, CDD fees, and special districts can change the escrow line after sale.
!
Competitive coastal and metro markets.
Desirable Florida neighborhoods can move quickly, requiring a strong pre-approval and realistic cash-to-close planning.
!
CDD and HOA fees add to qualification.
Newer master-planned communities and condos often include HOA, CDD, or assessment costs that count in the housing payment.
!
Appraisal and insurance timing can delay closing.
Waterfront, condo, rural, older-home, and high-value properties may need extra time for appraisal, inspection, title, and insurance review.

Educational summary only — not personalized financial, legal, or tax advice. Consult a licensed loan officer and a qualified tax professional for your specific situation.

Start to keys

How to apply for a purchase mortgage in Florida, step by step

A complete, plain-English walkthrough — from cleaning up credit to wiring funds at closing. Most files move through these seven steps in ~21 days.*

1
Check your credit and pay down balances
Pull your credit reports from all three bureaus at MyITINCredit.com, dispute errors, and bring revolving-card utilization below 30% (ideally under 10%) before applying. Every 20-point jump typically improves pricing.
2
Save for down payment, closing costs, and reserves
Plan for 0%–20% down depending on program, plus roughly 2%–5% of the purchase price in closing costs and 2–6 months of housing-payment reserves. Document large deposits as you save.
3
Choose the right loan program for your scenario
Compare FHA, VA, USDA, Conventional, Jumbo, Doctor, 1%-Down, and Non-QM programs against your credit, income, property type, and timeline. The program decision moves your monthly payment more than chasing a 0.125% rate difference.
4
Start My Approval with a Simply Approved Mortgages Loan Officer
Submit a complete application with income, asset, and ID documentation. A Simply Approved Mortgages Loan Officer and underwriter review the file and issue a written pre-approval letter that sellers and listing agents will take seriously.
5
Shop for a home and make a competitive offer
Tour homes inside your verified budget. Your loan officer can re-issue the pre-approval letter at any price the same day so your offer looks strong to the seller.
6
Lock your rate and submit the contract to underwriting
Once you go under contract, lock the rate, order the appraisal, open title, and the underwriter begins working through conditions in parallel.
7
Clear conditions, get the Closing Disclosure, and close
Provide any remaining conditions the underwriter requests. The Closing Disclosure is delivered at least 3 business days before signing per TRID. You sign, funds wire, the deed records, and you get the keys.

*Typical timing on recent purchase files; actual close timing varies. Not a guarantee of approval, rate, or close date.

The real cash to close

What it actually costs to buy a $400,000 home in Florida

Three scenarios. Same house. Wildly different out-of-pocket. Your binding numbers appear on the Loan Estimate and Closing Disclosure.

FHA + 4% DPA grant

Illustrative example only · assumes a 7.125% rate, 30-yr fixed · not current pricing

Monthly

$2,847/mo

Cash to close

$2,400

Purchase price: $400,000
Down payment (3.5%): $14,000
DPA grant covers: –$14,000
Closing costs (3%): $12,000
Seller credit: –$8,000
Lender credit: –$1,600
Cash to close: $2,400

Conventional 5% Down

Illustrative example only · assumes a 7.125% rate, 30-yr fixed · not current pricing

Monthly

$2,712/mo

Cash to close

$28,000

Purchase price: $400,000
Down payment (5%): $20,000
Closing costs (2.5%): $10,000
Prepaids escrow: $4,000
Seller credit: –$6,000
Cash to close: $28,000

VA $0 Down

Illustrative example only · assumes a 7.125% rate, 30-yr fixed · not current pricing

Monthly

$2,628/mo

Cash to close

Purchase price: $400,000
Down payment: $0
VA funding fee (financed): $0 out-of-pocket
Closing costs (3%): $12,000
Seller credit (full): –$12,000
Cash to close: $0

Illustrative scenarios — actual rates, fees, taxes, insurance, and credits vary. Your Loan Estimate is the binding document.

Start to keys

Our typical 21-day purchase timeline*

Many recent purchase files close in roughly three weeks when appraisal and title cooperate; actual timing varies. Federal rules require your Closing Disclosure at least three business days before signing.

Day 1–2

Application & Pre-Approval

✓Secure online application (15 min)
✓Upload income & asset docs
✓Soft or hard credit pull
✓Underwriter-reviewed pre-approval letter

Day 1–30+

Shop & Offer

✓Tour homes with confidence
✓We re-issue letters at any price
✓Negotiate seller credits
✓Go under contract

Contract Day 1

Lock & Order

✓Lock your rate that same day
✓Order appraisal within 24 hours
✓Submit complete file to underwriting
✓Title work kicks off in parallel

Day 5–18

Underwriting & Appraisal

✓UW typically issues initial conditions within ~48 hrs
✓Appraisals typically returned in ~5–10 business days
✓We chase conditions on your behalf
✓Most conditions cleared in ~24–48 hrs once received

Day 18–21

Clear to Close

✓Final underwriting approval
✓Closing Disclosure sent (3-day rule)
✓Final walk-through with your agent
✓Wire instructions to title

Day 21

Sign & Fund

✓Sign at title (or mobile notary)
✓Funds wire same day
✓Deed records, you get the keys
✓Welcome home

Lock in your timeline

See where you'd land on our typical 21-day purchase timeline.*

Start your pre-approval today and a licensed loan officer will map your file to a realistic close date based on your program, market, and contract.

Start My Approval →See Today's Rates

Avoid these

7 mistakes that cost first-time buyers thousands

1
Shopping homes before pre-approval.
You don't know your real budget — and listing agents won't take your offer seriously.
2
Opening new credit during the process.
A new credit card or car loan can drop your score 20+ points and re-trigger underwriting.
3
Switching jobs before closing.
Lenders re-verify employment days before close. New job = pause until 30 days of pay stubs.
4
Making large undocumented deposits.
Any non-payroll deposit over ~50% of monthly income gets flagged. Source every dollar.
5
Skipping the rate lock.
Floating in a rising market can add $200+/month for the life of the loan.
6
Maxing out the pre-approval amount.
Just because you're approved for $500k doesn't mean you should spend it. Leave breathing room.
7
Choosing on rate alone.
A lender quoting 0.125% lower with $4,000 more in fees is a bad deal. Compare APR and total cost.

Bring this to your pre-approval

The complete document checklist

Income — if employed (W-2)

✓Last 2 years of W-2s
✓Most recent 30 days of pay stubs
✓Most recent 2 years of federal tax returns (all pages, all schedules)
✓Employer contact info (verification of employment)
✓Documentation of bonus, overtime, or commission income

Income — if self-employed (1099 / business owner)

✓Last 2 years of personal federal tax returns (all pages, all schedules)
✓Last 2 years of business tax returns (1120, 1120S, or 1065) + K-1s
✓Year-to-date profit & loss statement
✓Last 2 years of 1099s (for 1099 contractors)
✓Business license or CPA letter confirming 2+ years of self-employment
✓For bank-statement Non-QM: 12–24 months of business bank statements

Assets

✓Last 2 months of all bank, brokerage, retirement statements
✓All pages — even blanks. No screenshots.
✓Documentation for any large deposits
✓Signed gift letter + donor ability proof (if gifted)

Identity

✓Government-issued photo ID
✓Social Security number or ITIN
✓Permanent residents: green card
✓Foreign nationals: passport + visa

Property (when known)

✓Fully executed purchase contract
✓HOA contact + monthly dues
✓Homeowners insurance quote
✓Survey if available

Ready to make it real?

Get a pre-approval letter — typically within ~24 hours of a complete file.

One short application, then a licensed loan officer reviews your file and issues a real underwriter-backed pre-approval letter you can shop with.

Start My Approval →See Today's Rates

Expert Insight

In Florida, the published interest rate is usually less important than whether the loan is built for Florida's real costs: homeowners and wind insurance on a coastal property, flood-zone requirements, condo project approval after the Surfside reforms, and county-by-county millage that can swing your escrow by hundreds of dollars a month. A buyer in a Tampa Bay suburb may qualify very differently than a buyer in a Miami-Dade condo or a Panhandle flood zone, even at the same price. The only way to know which program, down-payment structure, and insurance strategy actually fits you is to walk through it with a Simply Approved Mortgages Loan Officer who can compare the real numbers side-by-side on a Florida Loan Estimate.

Simply Approved Mortgages Team

Licensed Loan Officers • NMLS# 2620881

Cash-to-close levers

Florida seller credits, lender credits, and DPA — explained

Three of the most common tools buyers use to reduce the money needed at the closing table.

From the seller

Seller credit

A negotiated contribution from the home seller toward your closing costs, prepaids, or (in some cases) a rate buydown. Each loan program caps how much a seller can contribute (commonly 3% on conventional with low down, up to 6% on conventional with 10%+ down, up to 6% on FHA, up to 4% on VA). Cannot exceed your actual closing costs.

Appears on the Closing Disclosure as "Seller Credits."

From the lender

Lender credit

Money the lender contributes toward your closing costs in exchange for a slightly higher rate. Opposite of paying discount points. Useful when you want to keep more cash in hand, especially if you may refinance within a few years.

Appears on the Loan Estimate / Closing Disclosure as a "Lender Credit" in Section J.

From a program

Down Payment Assistance (DPA)

A program — typically run by a state housing finance agency, county, city, or nonprofit — that helps cover part or all of your down payment and sometimes closing costs. Can be a grant (no repayment), forgivable second mortgage, or deferred / repayable second loan. Eligibility usually depends on income limits, property location, first-time buyer status, and homebuyer education.

Stacks with most FHA, VA, USDA, and Conventional programs in many states.*

Credit caps, DPA availability, and program rules vary by loan program, state, county, property type, occupancy, and borrower qualifications. Examples are educational only.

Speak mortgage

The 12 terms every buyer should know

No jargon, no fluff — just the words that decide your monthly payment.

APR

Annual Percentage Rate — the rate plus most fees expressed as a yearly cost. Use this to compare lender quotes apples-to-apples.

LTV

Loan-to-Value — your loan amount divided by the home value. Lower LTV usually means better pricing.

DTI

Debt-to-Income — monthly debt payments divided by gross monthly income. Standard caps are 43–45%, with stretches up to ~50–56.99% possible via AUS and compensating factors.

Points

Upfront fee paid to lower your interest rate. One point = 1% of the loan. Worth it only if you stay long enough to break even.

PMI / MIP

Mortgage insurance protects the lender when you put less than 20% down. PMI on conventional drops at 78% LTV (per the Homeowners Protection Act). FHA MIP stays for the life of the loan when LTV is greater than 90%; with 10%+ down, MIP is removed after 11 years per current HUD rules.

Escrow

A holding account at your lender that collects 1/12 of your annual property tax and insurance every month, then pays the bills when due.

Rate Lock

A guarantee that your rate won't change for a set window (30/45/60/90 days) while you finish the file.

Conforming Limit

The maximum loan amount Fannie Mae and Freddie Mac will buy. Above this is jumbo territory.

Cash to Close

The total dollars you need to wire on closing day — down payment plus closing costs minus credits.

Pre-Approval

A written, underwriter-reviewed commitment based on verified income, credit, and assets. Required for competitive offers.

Appraisal

An independent licensed appraiser's opinion of the home's value. Protects you and the lender from overpaying.

Closing Disclosure

The 5-page form sent to you at least 3 business days before signing that lists every final number. See the CFPB Closing Disclosure guide.

The honest answer

Is a purchase mortgage right for you in Florida?

Use this short framework to pressure-test whether buying — and which program — actually fits your life right now.

A purchase mortgage likely fits if…

✓You plan to stay in the home at least 3–5 years.
✓Your job and income have been stable for 2+ years.
✓You have 3–6 months of housing-payment reserves after closing.
✓Your total monthly debts sit under ~43–50% of your gross income.
✓Your credit score is at least 580 (FHA / VA) or 620+ (conventional / USDA).
✓You have program-minimum cash for down + closing, or a DPA / gift / seller-credit plan.

It may be worth waiting if…

!You expect to move within the next 2 years.
!Your income just changed (new job in a new field, gap in employment, big drop in 1099 deposits).
!You have recent late payments, a collection in the last 12 months, or an unresolved bankruptcy / foreclosure waiting period.
!You have less than 1 month of reserves after the down payment and closing costs.
!Your DTI would exceed program caps even at the lowest realistic payment.
!You are buying purely for short-term appreciation in an uncertain market.

Key West · Marathon · Key Largo

State capital; FSU and FAMU anchor demand; mix of single-family and condo / townhome.

Treasure Coast & Space Coast purchase mortgages — Brevard, Indian River, St. Lucie & Martin

Brevard (Space Coast / Patrick SFB / Kennedy Space Center area), Indian River (Vero Beach), St. Lucie, and Martin counties anchor the Treasure Coast and Space Coast. Mix of coastal single-family, condos, and inland new-construction subdivisions.

Brevard County

Cities & communities

Melbourne · Palm Bay · Titusville · Cocoa · Cocoa Beach · Viera · Merritt Island

Patrick SFB and Kennedy Space Center area drive significant aerospace and VA-loan demand.

Indian River County

Cities & communities

Vero Beach · Sebastian

Coastal Treasure Coast market.

St. Lucie County

Cities & communities

Port St. Lucie · Fort Pierce

One of the fastest-growing Florida metros; broad conforming and FHA volume.

Martin County

Cities & communities

Stuart · Palm City · Jensen Beach · Hobe Sound

Each Florida county has its own dedicated purchase-mortgage page with the local FHA / conforming loan limit context, Florida Hometown Heroes and FL Assist notes, and the cities we serve inside that county.

67 counties

Alachua County Baker County Bay County Bradford County Brevard County Broward County Calhoun County Charlotte County Citrus County Clay County Collier County Columbia County DeSoto County Dixie County Duval County Escambia County Flagler County Franklin County Gadsden County Gilchrist County Glades County Gulf County Hamilton County Hardee County Hendry County Hernando County Highlands County Hillsborough County Holmes County Indian River County Jackson County Jefferson County Lafayette County Lake County Lee County Leon County Levy County Liberty County Madison County Manatee County Marion County Martin County Miami-Dade County Monroe County Nassau County Okaloosa County Okeechobee County Orange County Osceola County Palm Beach County Pasco County Pinellas County Polk County Putnam County Santa Rosa County Sarasota County Seminole County St. Johns County St. Lucie County Sumter County Suwannee County Taylor County Union County Volusia County Wakulla County Walton County Washington County

Browse every Florida city we lend in

We originate purchase mortgages across Florida. Choose your city for a dedicated guide with local FHA, VA, USDA, Conventional, Jumbo, and Florida Hometown Heroes / FL Assist / SHIP options, plus today's pricing context and a Simply Approved Mortgages Loan Officer.

153 cities

Alachua Altamonte Springs Apalachicola Apopka Arcadia Atlantic Beach Avon Park Bartow Boca Raton Bonifay Bonita Springs Boynton Beach Bradenton Brandon Brooksville Cantonment Cape Coral Celebration Chiefland Chipley Clearwater Clermont Clewiston Cocoa Cocoa Beach Coral Gables Coral Springs Crawfordville Crestview Crystal River Davenport Davie Daytona Beach DeFuniak Springs DeLand Delray Beach Deltona Destin Doral Estero Eustis Fernandina Beach Fleming Island Fort Lauderdale Fort Myers Fort Pierce Fort Walton Beach Freeport Gainesville Gulf Breeze Haines City Hialeah Hobe Sound Hollywood Homestead Inverness Jacksonville Jacksonville Beach Jensen Beach Jupiter Kendall Key Largo Key West Kissimmee LaBelle Lake City Lake Mary Lake Placid Lakeland Lakewood Ranch Land O' Lakes Largo Leesburg Lehigh Acres Live Oak Lynn Haven Madison Marathon Marco Island Marianna Melbourne Merritt Island Miami Miami Beach Middleburg Milton Mount Dora Naples Navarre New Port Richey New Smyrna Beach Newberry Niceville Nocatee North Port Ocala Ocoee Okeechobee Orange Park Orlando Oviedo Pace Palatka Palm Bay Palm City Palm Coast Panama City Panama City Beach Pembroke Pines Pensacola Pensacola Beach Perry Plant City Plantation Pompano Beach Ponte Vedra Beach Port Charlotte Port Orange Port St. Joe Port St. Lucie Punta Gorda Quincy Riverview Sanford Santa Rosa Beach Sarasota Sebastian Sebring Spring Hill St. Augustine St. Cloud St. Petersburg Starke Stuart Tallahassee Tampa Tavares The Villages Titusville Venice Vero Beach Viera Wauchula Wellington Wesley Chapel West Palm Beach Wildwood Williston Winter Garden Winter Haven Winter Park Yulee Zephyrhills

County and city descriptions reflect publicly available geographic, demographic, and program-eligibility context (Florida Department of State, U.S. Census Bureau, HUD FHA Mortgage Limits, USDA Rural Development eligibility map, Florida Housing Finance Corporation). They are not a guarantee of program eligibility, pricing, or value for any specific property. All loans subject to underwriting approval. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Purchase market update

What Florida buyers should know this month

November 2026

30-Yr Fixed · national avg

—

Loading PMMS…

15-Yr Fixed · national avg

—

Loading PMMS…

2026 buying power

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

What it means for purchase buyers in Florida 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.

Today's rates

Live rates

Real rates — your scenario, not a guess

Today's rate options below refresh twice each business day from our wholesale pricing engine; run your own scenario in the pricing tool. National survey averages below give you market context — they're not Simply Approved's pricing.

Our live pricing engine

See your real rate — for your scenario, in our pricing tool

Pull live, scenario-specific pricing from our wholesale pricing engine. Your binding rate and APR are confirmed on your Loan Estimate after a quick file review.

See My Live Rate →

Pricing snapshot

Live rates

Today's Mortgage Rate Options at a Glance

Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.

National market context

Freddie Mac PMMS — weekly U.S. averages

Source: Freddie Mac PMMS (PMMS_history.csv)

Loading latest PMMS averages…

PMMS figures shown above are Freddie Mac's national survey averages, published weekly by Freddie Mac (PMMS_history.csv) — they are not Simply Approved Mortgages' rates, not a quote, not a lock, and not an offer or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Compare loan programs

Our pricing vs the national market — by program

Switch between 30-Year, 15-Year, FHA, VA, and Jumbo to see how each program works and where it sits against Freddie Mac's weekly national averages. Conventional fixed-rate programs use real PMMS data; FHA, VA, and Jumbo aren't tracked in PMMS — pull your scenario in our live pricing engine.

30-Yr Fixed

30-Year Fixed (Conventional)

The U.S. standard: lowest monthly payment, fully amortizing over 30 years, predictable principal & interest.

National market context

Loading PMMS…

Our pricing — for your scenario

We don't post a single “our rate” here because your real number depends on credit, LTV, DTI, occupancy, property type, and lock period.

Pull a real, scenario-specific 30-Yr Fixed quote from our live pricing engine — backed by our 1.5% lender-paid compensation on Section A of your Loan Estimate.

Get my 30-Yr Fixed rate →

Best for

Most primary-residence buyers who want payment stability and maximum monthly cash flow.

Comparison is for educational purposes only. PMMS figures are Freddie Mac's national survey averages published weekly — not Simply Approved Mortgages' pricing, not a quote, lock, offer, or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock; binding figures appear on your Loan Estimate. FHA, VA, and USDA loans are insured or guaranteed by the U.S. government with their own eligibility, occupancy, and fee requirements; Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by HUD, the VA, or the USDA. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Next steps

See Today's Rates

Emailing your Loan program comparison tool scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Florida Purchase Mortgage FAQ

Answers to the most common Florida purchase mortgage questions, written by licensed loan officers.

Same federal minimums as the rest of the country: VA and USDA $0 down, FHA 3.5% with 580+ FICO, Conventional 3% for first-time buyers / 5% standard, Jumbo typically 10–20%. Florida-specific DPA (Hometown Heroes, FL Assist) can cover most or all of an FHA or Conventional down payment for eligible buyers.

Live mortgage market data

The U.S. mortgage market at a glance

Real published numbers from Freddie Mac, the Federal Reserve (FRED), FHFA, HUD, and the VA — refreshed quarterly so the math you run here matches the math your loan officer runs. Hover any data point for the exact value.

Data last reviewed: November 2026

30-Year Fixed Rate (annual avg)

Mortgage rates, 2019 → 2026

% APR

Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Current-year figure is the year-to-date average; PMMS is updated weekly.

Median U.S. home sales price

Home prices, 2019 → 2025

$ thousands

Source: U.S. Census Bureau & HUD via FRED — Median Sales Price of Houses Sold (MSPUS). Quarterly, seasonally adjusted.

2026 Loan Limits

Maximum loan amounts by program

All limits are the 2026 federally published figures for a one-unit primary residence in most counties. High-cost counties (Honolulu, Bay Area, NYC metro, FL Keys, ski-resort CO, etc.) have higher caps.

Program	2026 Limit	Official Source
Conforming (Fannie/Freddie)	$832,750	FHFA 2026 baseline →
FHA (most counties)	$541,287	HUD 2026 floor →
FHA (high-cost counties)	$1,249,125	HUD 2026 ceiling →
VA (full entitlement)	No statutory limit	VA Lender Handbook →
USDA Guaranteed	Based on borrower income	USDA Rural Development →

Verify everything

Estimate your monthly payment, then have a Simply Approved Mortgages Loan Officer return a personalized quote backed by our 1.5% lender-paid compensation. No obligation, no hard credit pull required for a soft quote.

Estimate your payment

Mortgage payment calculator

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 Rates Or call 877-813-7219

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

Estimates are for educational purposes only and are not a loan offer, commitment to lend, rate lock, or APR disclosure. Actual rate, APR, payment, and fees depend on credit qualifications, loan program, property, occupancy, LTV, DTI, and current market pricing. Property taxes, homeowners insurance, mortgage insurance, HOA dues, and flood insurance — where applicable — are estimated and may vary. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC, NMLS# 2620881. Equal Housing Opportunity.

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.

Loan amountCompensation % on another quoteExample only, change to your quote2.75% is a sample starting number, not a claim about any lender. Enter the figure from your own Loan Estimate.

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.

First nameLast nameEmailPhoneProperty stateLoan purposeEstimated purchase priceEstimated credit scoreTimeframeUpload your Loan EstimatePDF or photo, up to 10 MB (optional)Choose fileI agree. By checking this box and submitting this form, I provide my express written consent to receive calls and messages from or on behalf of Simply Approved Mortgages LLC (NMLS #2620881) at the telephone number(s) and email address(es) I provide, including for marketing and telemarketing purposes. Communications may be made using live agents, an automatic telephone dialing system or other automated technology, prerecorded or artificial voice messages, AI-generated or AI-assisted voice technology, SMS/MMS text messages, and email, even if my telephone number is listed on a state or federal Do Not Call registry.I confirm that I am the subscriber or customary user of the telephone number(s) provided and am authorized to provide this consent. Message and data rates may apply. Message frequency varies. Reply STOP to opt out of text messages or HELP for help.My consent to receive automated, prerecorded, artificial-voice, AI-generated, or marketing communications is not a condition of purchasing any property, good, or service, applying for a mortgage, or receiving mortgage services or information from Simply Approved Mortgages LLC. I may revoke my consent at any time.All loans are subject to applicable lender underwriting, eligibility requirements, and approval.

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.

Ballpark lender, title, escrow, and prepaid costs before your Loan Estimate.

Open calculator →

Calculator results are illustrative only and are not a loan offer, commitment to lend, rate quote, or APR disclosure. Actual loan terms depend on credit qualifications, program guidelines, property type, and current market pricing. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Credit score matters

Know your mortgage credit score before you apply

Your FICO score is the single biggest lever on your mortgage rate. Pull your tri-bureau credit report through MyITINCredit.com, or order the same tri-merge mortgage credit report we'll actually underwrite from.

MyITINCredit.com · ITIN & SSN friendly · Tri-bureau · $1 for 15 days

Pull your credit at MyITINCredit.com

Our recommended credit-pull partner for U.S. mortgage borrowers — including ITIN buyers historically underserved by free-credit apps. Start for $1 for 15 days and get credit monitoring included while you see all three bureaus and the factors moving your score before you apply.

✓Tri-bureau view (Experian · Equifax · TransUnion)
✓Works for both SSN and ITIN borrowers
✓Credit monitoring included
✓Score factors and dispute tips before you apply

Visit 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. $1 trial for 15 days applies; ongoing subscription and report fees are set by MyITINCredit.com and may apply. Simply Approved Mortgages may receive subscription revenue if you choose to enroll. Credit monitoring is optional and is not required to apply for or obtain a mortgage with us. MyITINCredit.com does not share your underlying credit data with our mortgage operations unless you separately authorize it.

Mortgage-grade · Tri-merge · Hard pull

Order your tri-merge mortgage credit report

The full tri-merge mortgage credit report (Experian + Equifax + TransUnion) underwriters actually use. Order it yourself via our secure MeridianLink SmartPay portal.

✓True tri-merge mortgage credit report
✓Identical to what underwriters review
✓Secured by MeridianLink — bank-grade encryption

Order my credit report →If you're ready to apply for your mortgage approval, apply now →

How your score shapes your rate

FICO score → mortgage pricing tiers

FICO Tier	Conventional	FHA	VA	Jumbo
760+	Best pricing tier	Best FHA pricing	Top VA pricing	Eligible (best pricing)
740–759	Excellent pricing	Very strong	Excellent	Eligible
720–739	Strong pricing	Strong	Strong	Eligible
700–719	Good pricing	Good	Good	Eligible (most programs)
680–699	Moderate add-ons	Solid	Solid	Limited options
660–679	Higher add-ons	Fully eligible	Eligible	Generally not eligible
620–659	Minimum conventional	Eligible	Eligible	Not eligible
580–619	Not eligible	Eligible (3.5% down)	Eligible (most lenders)	Not eligible
500–579	Not eligible	Eligible (10% down)	Case-by-case	Not eligible

Pricing tiers are illustrative and vary by investor overlays, LTV, DTI, occupancy, property type, loan amount, and current market pricing. Eligibility shown reflects typical guidelines and is not a commitment to lend. Your actual rate and APR appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Florida Pre-Approval

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 Rates Or call 877-813-7219

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

Mortgage pre-approval in Florida metros

City-specific pre-approval guides with local median prices, DPA programs, closing costs, and taxes for Florida's top metros.

Explore the full guide

Keep reading — the rest of the buying playbook

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

Guide

First-Time Home Buyer Guide

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

Read the guide →

Guide

Mortgage Pre-Approval

Underwriter-reviewed letter you can hand to a listing agent.

Read the guide →

Guide

Pre-Qualification vs. Pre-Approval

Which one you actually need and why agents only trust one.

Read the guide →

Guide

How Much Home Can I Afford?

Run real DTI, taxes, insurance, and reserves against your income.

Read the guide →

Guide

Closing Costs Explained

Every line of the Loan Estimate — and how to lower it.

Read the guide →

Internal library

Related mortgage guides across our library

Follow the next relevant guide for your scenario.

Purchase mortgages

Buying a home

State hubs

By state

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.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, USDA, FHFA, the Florida Housing Finance Corporation, or any other government agency. External links to official sources are provided for your independent verification and open in a new tab.

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

Ready to buy in Florida?

A Simply Approved Mortgages Loan Officer will match you to the right program — FHA, VA, Conventional, Jumbo, or Florida Hometown Heroes — and walk through your real Florida numbers.

From the Blog

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

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

~90 seconds

Encrypted connection (HTTPS) NMLS# 2620881 Equal Housing Opportunity No hard credit inquiry until you authorize it

Which state are you buying in?

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

Credit tier (FICO range)

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.

First name *

Last name *

Email *

Phone *

ZIP code *

Timeframe

I agree to be contacted by Simply Approved Mortgages LLC (NMLS #2620881) about this request by phone, text, and email, including with automated technology, and I understand consent is not a condition of any purchase or of receiving mortgage services. Message and data rates may apply; reply STOP to opt out.

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

Mortgage 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 our Florida page for purchase mortgages.

Start one level up

The national purchase mortgages guideCovers the program rules that apply in every state.

What most readers open next

Getting pre-approvedBecause listing agents ask for it before they take an offer seriously.
The affordability worksheetBecause to set a price range you can actually document.
What closing costs coverBecause the second number every buyer underestimates.
The down payment estimatorBecause to compare low-down-payment structures side by side.
The document checklistBecause so underwriting does not stall on paperwork.

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.

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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Add Simply Approved Mortgages as a preferred source on Google

We update these guides as HUD, FHFA, VA, USDA and CFPB publish new figures. If you want our updates to show up more often when you search Google, you can mark us as a preferred source from the Top Stories carousel:

1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
2Select the icon next to "Top stories" to open the preferred sources panel.
3Search for Simply Approved Mortgages, tick the box, and save.

Google's preferred sources help

Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.

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