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Mortgage Broker Licensed in Florida

Two things decide most Florida files, and the rate is neither of them. The first is insurance. The second, if you're buying a condo, is whether the building itself can be financed at all — because after Florida tightened its structural inspection and reserve requirements, plenty of buildings can't be, no matter how strong your file is. As a broker, not a bank, I check the building before we finish checking you.

I'm licensed across thirteen states, and Florida is where the property matters most.

Areas Served

Florida programs I can place

Florida Housing Finance Corporation runs the state's homebuyer assistance, including down payment and closing cost assistance products and the Hometown Heroes program for buyers in qualifying occupations.

Hometown Heroes in particular runs on appropriated funding, which means it opens, gets used, and closes. Availability at the moment you're actually buying is the only availability that counts, so I check it live rather than working from what was true last quarter.

As everywhere, assistance is priced into the loan. I'll compare it against a conventional structure and show you the difference over the time you actually expect to own the place.

How closing works in Florida

Title agents handle most Florida closings; attorneys are permitted but not required, and which you get often depends on the contract and your agent's practice.

Florida's closing costs are unusual in a way that surprises people: the state charges documentary stamp tax on the deed and on the promissory note, plus an intangible tax on the mortgage. Most states tax the deed only. It's a real number, it scales with your loan amount, and it belongs in your cash-to-close estimate from day one rather than appearing at the end.

What I see most in this market

Condo warrantability is the whole ballgame.

Since Florida required milestone inspections and structural integrity reserve studies, a building that hasn't funded its reserves or has deferred a required inspection can fall outside conventional and FHA guidelines. When that happens, the unit isn't financeable through normal channels regardless of your credit, income, or down payment — you're looking at portfolio lending or cash. Buyers find this out at week three constantly. I'd rather find it out before you write the offer, and reviewing the building's status is a normal part of how I handle a Florida condo.

Special assessments are the related problem. A building that is funding its reserves is often funding them through assessments, and those affect both your monthly obligation and your qualifying ratios.

Insurance.

Carrier availability has tightened, roof age disqualifies homes with a number of carriers outright, and a wind mitigation inspection can meaningfully change what you pay. Older homes may need a four-point inspection before anyone will write a policy. None of this is a mortgage requirement exactly, but all of it decides whether your loan closes, because a property you can't insure is a property no lender will fund.

Your tax bill will not be the seller's tax bill.

This is the single most common Florida surprise I see. Assessed value resets when the property sells, so the taxes the current owner pays — possibly capped for years under Save Our Homes — tell you almost nothing about what you'll pay. Buyers qualify on the seller's number and get a very different escrow analysis. I estimate on the reset, not on the listing, which sometimes means a smaller approval and always means an accurate one.

Second homes and rentals.

Florida generates more occupancy questions than anywhere else I'm licensed. What you tell the lender at application about how you'll use the property changes your rate and down payment, and it's a declaration, not a preference.

Common Questions

Why is my property tax estimate higher than what the seller pays?

Because assessed value resets when the property changes hands. The seller may have years of capped assessments behind them. Your bill starts fresh, and it's usually higher — often much higher on a long-held home.

Can I finance any Florida condo?

No, and this is the most important thing to know before you shop. Buildings that don't meet inspection and reserve requirements fall outside conventional and FHA guidelines. I check the building's standing early, because it determines whether we're having a conventional conversation or a very different one.

Do I need flood insurance?

It depends on the flood zone and the lender's requirement, but a great many Florida properties need it, and it's separate from your windstorm coverage. Get the quote before you finalize your budget, not after.

I'm buying a place I'll use a few weeks a year and rent the rest. What is it?

Most likely an investment property, though the second-home question turns on specifics. It materially changes your terms, so settle it at application rather than at closing.

Mortgage Broker Licensed in Florida

Licensed and verifiable in Florida

Florida programs I can place

How closing works in Florida

What I see most in this market

Condo warrantability is the whole ballgame.

Insurance.

Your tax bill will not be the seller's tax bill.

Second homes and rentals.

Financing options in Alabama

Common Questions

Mortgage Broker Licensed in Florida

Licensed and verifiable in Florida

Florida programs I can place

How closing works in Florida

What I see most in this market

Condo warrantability is the whole ballgame.

Insurance.

Your tax bill will not be the seller's tax bill.

Second homes and rentals.

Financing options in Alabama

Common Questions

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