Find the financing that fits your situation
Most buyers don't realize how many loan options are available to them. The right loan depends on your credit score, down payment, military status, and the type of property you're buying. Here's a plain-English breakdown of the most common home loan types.
The most widely used loan type, offered by private lenders without government backing. Best for buyers with solid credit and at least 5% down. If you put 20% down, you avoid private mortgage insurance (PMI), which lowers your monthly payment.
Backed by the Federal Housing Administration, FHA loans are designed for buyers with lower credit scores or smaller down payments. A popular choice for first-time buyers — you can put as little as 3.5% down with a 580+ credit score.
One of the best mortgage benefits available — exclusively for veterans, active-duty service members, and surviving spouses. VA loans often require zero down payment, no PMI, and offer highly competitive interest rates. As a fellow veteran, this is a benefit I'm proud to help clients utilize.
Backed by the U.S. Department of Agriculture for eligible rural and suburban areas. One of the few loan programs that allows 100% financing — no down payment required — for qualified buyers in eligible locations.
For homes that exceed the conforming loan limits set by Fannie Mae and Freddie Mac (currently $766,550 in most Florida counties). Jumbo loans require stronger credit, larger down payments, and more financial reserves — but they allow you to finance luxury or higher-priced properties.
Florida offers several programs to help buyers cover down payment and closing costs — including the Florida Assist and Florida Homeownership Loan Programs. These can be combined with FHA or conventional loans to significantly reduce your upfront costs.
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