Home Purchase Loan

Purchase Your Home In Florida

Prepared to make that charming downtown bungalow your own? Count on 1st Advantage Mortgage to assist you. Whether you’re a first-time homebuyer or an experienced player in the real estate market, we can process your Florida mortgage swiftly, bringing you closer to saying “home sweet home.”

Florida Mortgage, Made Easy

At 1st Advantage Mortgage, we have tailored our services to be more straightforward, expeditious, and less burdensome than the home financing alternatives offered by major banks. Our approach eliminates the middleman and streamlines the process, facilitating faster approval and a prompt offer

We’ve Got a Mortgage For You

Types of Mortgages For Homeowners in Florida

Not sure what type of Mortgage you need or what you qualify for? Take a look at the types of home loans we offer, and then get in touch to meet your Mortgage Expert.

Your Mortgage Expert is your personal resource through the loan process, providing guidance to ensure you find the best loan with the right payment options.

Adjustable-Rate Mortgage (ARM)

Designed for individuals seeking a more affordable initial monthly payment.

FHA 203k (Purchase & Renovation)

A loan² providing funding of up to $31,000 beyond the purchase price to cover remodeling or home repair expenses.

Manufactured Home Loan

Secure financing for mobile or manufactured homes through private lenders, utilizing FHA or VA Loan programs.

Chenoa Fund™ Loan

Down payment assistance program⁶ offering flexible options.

Conventional Loan

The timeless and traditional loan featuring low rates and flexible down payment options.

HUD Loan

A loan authorized by the FDA, providing low down payments and closing costs for eligible properties.

USDA Loan

Financing for properties with no down payment² available to eligible buyers in rural and suburban areas.

FHA Loan

A government-backed loan ideal for first-time buyers or those with higher debt-to-income ratios.

Investment Property Loan

Short-term loans designed to finance fix-and-flip properties or investment properties for rentals.

VA Loan

VA⁶-backed loans providing zero-down payment² options for service members, veterans, and eligible spouses.

FHA 203(h) Disaster Relief Loan

Provides zero-down financing² for individuals whose homes have been damaged or destroyed by a natural disaster.

Helping Home Buyers in Florida

Overwhelmed By The Mortgage Process? Start Here.

The 1st Advantage Mortgage Guide to Home Financing will walk you through the ins and outs of the home loan process, step-by-step, and in chronological order. You’ll never have to wonder what’s going to happen next in your home buying journey.

See what our clients have to say about our home loan services

See for yourself why so many homeowners, realtors
and first-time buyer in Florida choose 1st Advantage Mortgage
for help finding the right home loan.

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Frequently Asked Questions

Florida Mortgage FAQS

What are the requirements for a home loan in Florida?

Though the requirements for a home loan in Florida vary from lender to lender, most give preference to borrowers with high credit scores, low debt-to-income ratios, and ample cash reserves. Lenders also prefer borrowers without any derogatory marks like foreclosure or bankruptcy. Of course, if you have less-than-awesome credit or looming debt, don’t stress. There are mortgage financing programs available for all types of home buyers.

What credit score is needed to buy a house in Florida?

To buy a home in Florida, you’ll need a credit score that satisfies your lender’s minimum requirements. If you’re applying for a conventional home loan, you’ll need at least a 620 — though, the best rates are reserved for those who have a 740 or higher. Comparatively, if you’re hoping for a government-backed FHA loan, you’ll need at least a 580. A credit score in the 500 to 579 range won’t necessarily disqualify you, but you’ll be expected to put more money down.

What is a good interest rate for a house in Florida?

A good interest rate for a house in Florida depends on current market conditions. You can find the U.S. weekly averages here. Just keep in mind that the right APR for you is one that allows you to afford your mortgage comfortably, without stretching your monthly budget too thin.

How much do you have to put down for a mortgage in Florida?

How much you have to put down for a mortgage in Florida will be determined by your lender and loan type. Conventional loans, for example, typically require at least 20% down. But first-time home buyers can take advantage of conventional loans that only require 3% down (and a 620 minimum credit score). Meanwhile, FHA loans require as little as 3.5% down if you meet credit standards.Then, there are no-money-down financing options like VA and USDA loans. The only caveat? If you put less than 20% down, you must pay private mortgage insurance (PMI).

What is the average down payment on a house in Florida?

The average down payment on a house in Florida is $79,220 — 20% of the state’s median home price ($396,100).

What is the maximum conventional loan amount in Florida?

The maximum conventional loan amount in Florida for 2023 is $726,200 for a single-family home. However, in highly desirable areas like Monroe County, mortgage limits jump to $1,089,300.

How does a mortgage work?

A mortgage is a loan that’s used to finance a home. To secure a Florida home loan, you’ll need to apply with a mortgage lender. To determine how much house you can afford, the lender will assess your debt-to-income ratio, creditworthiness, and other factors. Once approved, you can purchase your dream home. Over a set period – typically 15 to 30 years – you’ll pay back your loan plus interest.

How much will I get approved for with a USDA loan?

How much money you can borrow with a USDA loan depends on your finances. Generally speaking, the more money you make and the higher your credit score, the more you can borrow.

What kind of credit score do I need to buy a house in Florida?

It depends. Conventional loans generally require at least a 620 while FHA loans with a 10% down payment require a 500 or above. Just remember that a lower credit score may equate to unfavorable loan terms.

Meet Our Mortgage Experts

Find The Right Florida Home Loan For You!

Let’s face it: Getting approved for a Florida home loan can be really stressful. There’s tons of complicated paperwork, heart-wrenching rejections, and the potential to waste thousands of hard-earned dollars. Fortunately, there’s a better solution. When you work with 1st Advantage Mortgage, our Mortgage Coaches will analyze your financial circumstances to find a home loan in Florida that’s right for you. What’s even better? They’ll walk you through each and every step of the approval process – from daydreaming about that quaint beach house to closing on it.

THE Mortgage Lender For Florida

As a mortgage lender deeply embedded in Florida, 1st Advantage Mortgage is powered by locals. Our team members reside, work, and engage in the community. They’re well-acquainted with the finest barbecue joints (just inquire), and they can share the most efficient shortcuts to evade highway traffic.

Being homeowners themselves, our team understands the challenges of the typical home lending process. This understanding propels their commitment to providing a distinctive experience. Unlike major banks, 1st Advantage Mortgage collaborates with home buyers to identify loan options tailored to their needs, not ours. Regardless of your financial situation, we’re here to assist you in acquiring that perfect home.

For help finding the Florida mortgage that best suits your needs, or give us a call at today!

As homeowners themselves, our employees also know the terrors of the typical home lending process. That’s why they’re dedicated to offering something different. Unlike big banks, 1st Advantage Mortgage works with home buyers to find loan options that suit their needs – not ours. No matter your financial situation, we’ll help you buy that perfect house.

Ready to get started? Call our Virginia Mortgage Coaches at with our home loan experts!

That’s why we offer over a dozen types of home mortgage loans – so you have access to the loan that’s right for you. Whether that means one that works with a low credit score, or supports uncommon income, we have the home loan option that fits your family.

Ready to get started? Call our Florida Mortgage Coaches at 704-343-8681 to schedule a consultation at your nearest 1st Advantage Mortgage location in Florida.

Legal information

² No -Down Payment Disclaimer: Closing costs and fees may still apply

³ Lending Disclaimer: Mortgage rates are subject to change and depend on the borrower(s) qualification. APR rate(s) quoted are based upon a (loan amount), (loan term, including whether fixed or ARM) year.

⁴ Refinancing Disclaimer: When refinancing your mortgage , you can typically reduce your monthly payment amount. However, your total finance charges may be greater over the life of your loan. Your 1st Advantage Mortgage loan professional will provide you with a comprehensive refinance comparison analysis to determine your total life loan savings.

⁵ VA Mortgage Disclaimer: VA home loan purchases offer options for a 0% down payment, no private mortgage insurance requirements, and competitive interest rates with specific qualification requirements. VA Interest Rate Reduction Loans (IRRRL) are exclusively for veterans with current VA loans – current loan rate restrictions apply, and limits to recoupment of costs and fees apply. VA cash-out refinances are available for veterans with or without current VA loans. Policies and guidelines may vary and are subject to individual borrower(s) qualifications. Program and lender overlays apply.

⁶ Down Payment Assistance Disclaimer: First-lien interest rates may be higher when using a DPA.

⁷ Pre-Approval Disclaimer: Pre-approvals are granted to clients who meet qualifying approval criteria and specific loan requirements at the time of application. Results may vary.

General Disclaimer: The content on this page has not been approved, reviewed, sponsored, or endorsed by any department or government agency.

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North Carolina Mortgage Broker License: B-217173

Florida Mortgage Broker License: MBR6689