Florida Home Loans & Mortgage Programs

Conventional loans are popular among Florida homebuyers who have a strong credit history and sufficient down payment funds. These loans are not insured by the government and typically require a down payment of 3% to 5%. They offer competitive interest rates and flexible terms for purchasing single-family homes, condos and townhomes across Florida.

USDA loans provide 100% financing options for eligible buyers in designated rural and suburban areas of Florida. These loans are backed by the U.S. Department of Agriculture and help low- to moderate-income homebuyers purchase homes with no down payment.

FHA loans in Florida are insured by the Federal Housing Administration and require a minimum down payment of 3.5%. They are designed to help first-time homebuyers and those with lower credit scores afford homeownership in Florida.

VA loans offer eligible veterans, active-duty service members and surviving spouses in Florida the opportunity to buy a home with no down payment and no monthly mortgage insurance. These loans are backed by the Department of Veterans Affairs and are widely used in Florida’s military communities.

Home equity loans in Florida allow homeowners to borrow against the equity they have built in their homes. These installment loans provide a lump sum with fixed interest rates and set repayment terms, often used for home improvements, debt consolidation or other major expenses.

Refinancing in Florida can help homeowners lower their interest rates, reduce monthly payments, or access home equity through cash-out refinancing. Various refinance programs are available depending on credit, loan type and property.

Non-qualified mortgage (Non-QM) loans in Florida are designed for borrowers who do not meet traditional lending criteria, such as self-employed individuals or those with irregular income. These loans offer flexible underwriting and documentation requirements.

Jumbo loans in Florida finance homes that exceed conforming loan limits, common in high-cost markets like Miami and Palm Beach. These loans require higher credit standards and larger down payments.

Reverse mortgages allow Florida homeowners aged 62 and older to convert home equity into cash without monthly payments. These loans are popular for retirees seeking additional income or to cover living expenses.

Construction loans in Florida provide financing for new home construction projects. Funds are disbursed in stages as construction progresses and can convert to permanent mortgages once construction is complete.

Investment property loans in Florida are used to finance rental or resale properties. These loans typically have higher down payment requirements and stricter underwriting compared to primary residence loans.

FHA solar loans in Florida help buyers finance solar energy systems as part of their home purchase or refinance. These loans support energy-efficient upgrades and can reduce utility costs over time.

Homeowners insurance and flood insurance costs can vary dramatically depending on your location, especially in coastal and flood-prone areas. Property taxes also differ by county, and Florida’s homestead exemption can help reduce taxes for primary residence owners.

If you are purchasing a condominium, be aware that additional review requirements may apply for FHA and conventional financing. These requirements can impact your eligibility and the approval process.

South Florida and coastal markets typically have higher property values than inland and central communities. Popular vacation and second-home markets can also have different property types, insurance considerations and financing requirements than primary-residence markets. This affects which loan type and maximum loan amount will best fit your situation.

A CrossCountry Mortgage loan officer can help relocating buyers, military families, second-home buyers and other Florida homebuyers compare loan options, understand county-specific requirements and prepare for costs that vary across the state. Use a buy calculator to estimate affordability and monthly payments to plan your purchase effectively.

Credit score, debt-to-income ratio, credit history, income verification and other financial factors can affect mortgage eligibility. Florida Housing and other assistance programs may also establish their own qualifying requirements. Each loan type and assistance program has its own eligibility and underwriting criteria.

Some Florida Housing, local housing agency and down payment assistance programs may require borrowers to qualify as first-time homebuyers. Program definitions and requirements can vary, so borrowers should verify current eligibility requirements for the specific program they are considering.

Florida Housing and local housing assistance programs may establish income and purchase price limits based on the program and property location. These limits can affect eligibility for first mortgages and down payment assistance programs.

Some Florida Housing and other assistance programs require completion of an approved homebuyer education course. Borrowers should verify education requirements, accepted providers and timing for the specific program they are considering.

Florida Housing down payment assistance is only available when paired with an eligible Florida Housing first mortgage originated through an approved participating program lender. It is not stand-alone down payment assistance.

Several Florida Housing and other down payment assistance programs may require the property to be occupied as a primary residence. Depending on the program, selling, refinancing, transferring title or ceasing to occupy the home may trigger repayment of outstanding assistance.

Credit unions in Florida offer competitive home mortgage options with personalized service. Working with a credit union may provide access to lower rates, reduced fees and flexible loan programs.

Connect with a CrossCountry Mortgage loan officer in Florida who can discuss your goals, review your financial profile, and explain which loan programs may fit your situation. Local expertise matters when navigating Florida’s county-by-county differences.

Your loan officer can help determine your first-time homebuyer status, review potential program requirements for your target area and compare mortgage programs — including CCM down payment assistance programs, Florida Housing assistance, regional assistance programs, FHA loans, VA loans, USDA loans and conventional options. Pre-approval helps determine your home price range and what your estimated monthly mortgage payment may look like.

Pre-approval is based on credit history and income verification. You may need to submit a mortgage application for pre-approval. A pre-approval letter shows sellers you are a qualified buyer and helps streamline the homebuying process. For reference, a $150,000 home with a $7,500 down payment costs approximately $1,617 monthly, while expected monthly rent for a comparable new home is $2,100. Buying becomes cheaper than renting after 1 year and 10 months in many scenarios and after 3 years and 6 months in others, depending on location and terms.

Finalize your full mortgage application with all required documentation. If using a Florida Housing or other assistance program, complete any required homebuyer education before closing. Your loan officer will coordinate program eligibility verification, appraisal and underwriting review.

Once your home loan is approved, you will review final loan terms, your principal and interest payment, insurance premiums and all closing costs before signing. CrossCountry Mortgage provides ongoing support after closing, whether you have questions about your mortgage, want to explore refinancing options down the road or need help understanding your home equity position over time.