Florida Mortgage Process



Generally speaking, the Florida mortgage process is pretty much the same whether you are applying for a conventional loan, government-backed loan or a jumbo mortgage. It involves four main stages:

  • Pre-approval: once you have narrowed down your home search to one or a few houses, you can go ahead and apply for a mortgage. Most Florida lenders allow homebuyers to apply online, but you can still do it in person or by call. If you are eligible for the mortgage, you will get pre-approved. Some lenders do that in 30 minutes or less. You can (and should) request a pre-approval letter.
  • Mortgage loan processing: depending on the type of loan and where the house is located, the lender may have to do an appraisal or survey. You may also have to prove the eligibility of the property’s title. It is at this stage that you will also present your documents – including bank statements, paystubs, employment records and others. If you are afraid the seller might sell the home you can ask for expedited processing. Mortgage brokers and realtors can help you with that.
  • Loan approval: after underwriting, your mortgage loan will finally be approved. Usually, in Florida, the lender sends closing instructions to the title company.
  • Closing: this is the most exciting part. The lender will fund your purchase, and you can proceed to seal the deal and sign any paperwork.

In-between those four major steps are smaller ones that are of significance importance. For instance you may have to revise your application after an appraisal to match the amount applied for with the value of the home.

This summary should give you a rough idea of what to expect. But if you want the full information be sure to read more right here. You can also contact us for personal guidance on the Florida mortgage process.



Florida City Mortgage Service Areas