Down Payment for a House in Florida


Many people still believe that you need at least 20% down payment to buy a house in Florida. Well, times have changed, and nowadays you can purchase your very own home with as little as 3.5% down. In fact, some lenders will even go lower – up to 0% down. You only need to know where to look. And we are very pleased that we here at Moreira Team can help. If there is one thing that our real estate staff knows best, it’s looking for great deals for our customers. Thinking of buying a home in this sunny state of Florida? Simply tell us how much you have saved so far and we will get you the best down payment for a house in Florida.

Generally speaking, whether the lender will ask for a larger or smaller down payment boils down to a number of factors. They include the type of mortgage loan you are applying for, your income and credit histories, and where the property is located. That is to say, there is no set minimum in Florida. If you are VA or USDA eligible, you can get up to 100% financing. On the other hand, most Florida conventional loan lenders will ask for 10 to 20% down, depending on your ability to repay the mortgage loan (according to their judgment).

Keep in mind that Florida is a high-cost state. So you might need a larger down payment for certain types of properties, like a newly built condo. That said, you can still get the same condo with as little as 3.5% if it is on the FHA’s approved list. Plus there are several Florida down payment assistance programs that you can take advantage of. They offer anything from $4,000 to $25,000. So the trick is really to do your homework right.

With our vast experience in this market, you can trust us to negotiate the best deal for you. Our experts are famous for assisting homebuyers to get mortgage loans even with 0% or 3.5% down and even get a down payment assistance in the process. So talk to us today, and we will help you get that dream Florida home.


Florida County Mortgage Service Areas