Learn About Mortgages in Florida



Getting a loan in Florida is not an easy thing to do all by yourself. There are many mortgage options to choose from, each with their individual requirements and criteria to be met. It’s only if you are well versed with the rules and requirements of each one that you will you be able to get the perfect mortgage for yourself.

You need to know facts like FHA mortgages being the most popular mortgage option available. They are divided into two types called fixed rate FHA mortgages and varied rate mortgages, based on their interest rates.

Another fact you need to know is that most mortgage lenders in Florida require that you have a minimum credit score of 580 to apply for a mortgage. There, however, are also some lenders who are ready to consider your overall credit history to sanction a mortgage. There are also some lenders ready to give considerations to borrowers with a low credit score, as long as they meet the overall credit history and can make a 10% down payment.

The rules changes again though if you are thinking of buying a condominium in Florida, with yet another set of rules to meet. For example, according to conventional Florida mortgages, you don’t need to make a 20% down payment, you can buy a non-condo residential property by paying just 10% of its price as down payment.

You know you want a house, but don’t know the first place to start when it comes to mortgages, we get it. Don’t let the mortgage application process ruin your excitement, turn to us at the Moreira Team for help.

Finding the best deals for our customers is our priority. If you are thinking of buying or investing in a home in Florida, just tell us what type of a house you plan to buy and your budget for it. We will then help you learn about mortgages in Florida.



Florida County Mortgage Service Areas