Florida Mortgage Loan Programs for Every Situation

FHA Loans Florida

FHA Loans in Florida

FHA loans are one of the most popular mortgage programs for Florida homebuyers — and for good reason. Backed by the Federal Housing Administration, they offer lower down payment requirements and more flexible credit standards than conventional loans.

If you're a first-time homebuyer in Florida, or if your credit score isn't perfect, an FHA loan may be your best path to homeownership.

FHA Loan Benefits

• Down payment as low as 3.5% with a 580+ credit score
• Credit scores from 580 accepted
• Higher debt-to-income ratio allowed (up to 57%)
• Seller can contribute up to 6% toward closing costs
• Can be combined with Florida down payment assistance programs
• Assumable — buyer can take over your rate when you sell

Down Payment Assistance Programs

Jorge works with down payment assistance (DPA) programs that provide up to 5% of the home’s value as a second mortgage. On an FHA loan, this covers the full 3.5% down payment plus approximately 1.5% toward closing costs. These programs also work with conventional loans.

How it works: The 5% is structured as a second mortgage, typically with a 10-year amortization. Some carry 0% interest; others carry a rate. In most cases, the primary mortgage rate is slightly higher to offset the assistance. This is not free money — but it is a powerful tool.

Why DPA programs change lives: If you have $5,000 saved today but need $20,000 to close, waiting to save the full amount could cost you more than the assistance itself. Florida home prices rise every year — the home you can afford today may cost $20,000 more in 12 months. DPA gets you in now, and you can refinance and pay it back once you have enough equity.

Florida Hometown Heroes is a separate state program offering up to $35,000 (5% of loan) for eligible full-time workers — teachers, nurses, firefighters, law enforcement, veterans. This one has a 0% interest deferred structure.

Jorge will identify which programs you qualify for and run the real numbers so you can make an informed decision.

VA Loans Florida

VA Loans in Florida

Florida has one of the largest veteran populations in the United States — and VA loans are one of the most powerful mortgage benefits available to those who served. Zero down payment, no private mortgage insurance, and competitive rates.

VA Loan Benefits

• 0% down payment required
• No private mortgage insurance (PMI)
• Competitive interest rates
• Credit reviewed case by case — no set minimum score
• Seller can pay all closing costs
• Assumable by another eligible veteran

Who Qualifies for a VA Loan in Florida?

• Active duty service members (90+ days)
• Veterans with honorable discharge
• National Guard and Reserve members (6+ years)
• Surviving spouses of veterans

Conventional Loans Florida

Conventional Loans in Florida

Conventional loans follow Fannie Mae and Freddie Mac guidelines and are the most common mortgage type in Florida. They are ideal for buyers with solid credit and stable income, offering the most flexibility in property types and loan amounts.

Conventional Loan Benefits

• Down payments as low as 3% for qualified buyers
• No upfront mortgage insurance fee (unlike FHA)
• PMI removed automatically at 20% equity
• Available for primary homes, second homes, and investment properties
• 2026 conforming loan limit: $806,500
• Best rates available for buyers with 700+ credit scores

Who Is It Best For?

Conventional loans work best for buyers with 620+ credit and verifiable W-2 or self-employment income. For borrowers with a FICO score above 700, conventional often becomes the better total option — not because the interest rate is lower (FHA rates are typically lower), but because conventional mortgage insurance (PMI) is significantly cheaper at higher credit scores. When you factor in the full monthly cost including insurance, conventional frequently wins for stronger credit profiles. Jorge will run both scenarios side by side and show you the real numbers for your situation.

DSCR Loans Florida

DSCR Loans in Florida

DSCR (Debt Service Coverage Ratio) loans are the go-to financing tool for Florida real estate investors. Instead of qualifying based on your personal income, tax returns, or W-2s — you qualify based on whether the property pays for itself.

Florida's rental market is one of the strongest in the country, making DSCR loans especially powerful here. Miami, Orlando, Tampa, Jacksonville, the Panhandle — strong rental income means strong DSCR ratios.

How DSCR Works

The DSCR ratio is simple: monthly rental income ÷ monthly PITIA (principal, interest, taxes, insurance, HOA). A ratio of 1.0 means the property breaks even. Most lenders want 1.0 or above — but some go below.

DSCR Loan Benefits

• No personal income verification (no W-2s or tax returns)
• No debt-to-income (DTI) ratio calculation
• Close in the name of your LLC
• Airbnb and short-term rentals eligible (using AirDNA data)
• Unlimited cash-out on existing rentals
• Can own multiple financed properties
• Foreign national investors may qualify

Bank Statement Loans Florida

Bank Statement Loans in Florida

Are you self-employed, a business owner, or a freelancer in Florida? Your tax returns probably don't show your real income — because you deduct expenses. A Bank Statement loan solves this by qualifying you on your actual cash flow, not your taxable income.

Who This Is For

• Business owners and entrepreneurs
• Self-employed professionals (doctors, attorneys, consultants)
• Real estate agents and commission-based earners
• Gig workers and freelancers
• Seasonal income earners

How It Works

Instead of tax returns, Jorge uses 12–24 months of your personal or business bank statements to calculate your qualifying income. Your deposits tell the real story.