Mortgages in Florida: what to know before you borrow.
How closings, taxes, insurance and building actually work in Florida, in plain English, and which program fits which borrower. Buying in Miami and Fort Lauderdale, Tampa Bay, Orlando or anywhere else in the state: start here, then ask Rosie the specifics. Sean originates in all 50 states.
The Florida realities that shape a loan
How closings work
Title companies or closing attorneys handle the closing; either is common and the contract usually says which. There is no state income tax, which changes how self-employed income reads on a file.
Taxes and transfer costs
The homestead exemption and the Save Our Homes assessment cap reward owner-occupants and long-time owners; a new buyer's tax bill can be much higher than the seller's, so estimate on the purchase price, not the current bill.
Insurance
Wind and hurricane coverage is the file-maker or file-breaker. Citizens is the state-backed insurer of last resort, roof age drives insurability, and coastal and low-lying areas need flood insurance before funding.
Building and renovating
New construction is a large share of the market. Condo buyers should know that post-2021 structural inspection and reserve rules changed what older buildings can offer a lender.
Veterans
One of the largest veteran populations in the country, with major installations around Tampa, Jacksonville, Pensacola and the Panhandle. Most counties are not high-cost, so zero-down purchases are straightforward.
State programs
First-time and lower-down-payment programs in Florida run through the Florida Housing Finance Corporation. Ask Rosie whether one fits before you assume it does not.
Plain-English notes, not legal or tax advice. Verify the specifics for your county and town.
Pick the page for who you are
The program fits the borrower, not the zip code. Each page is written for Florida.
Florida mortgage FAQ
Does Sean lend in Florida?
Yes. Sean originates in all 50 states, Florida included, through a national portfolio lender with the same file and the same underwriter from application to close.
What is different about buying in Florida?
Title companies or closing attorneys handle the closing; either is common and the contract usually says which. There is no state income tax, which changes how self-employed income reads on a file. The homestead exemption and the Save Our Homes assessment cap reward owner-occupants and long-time owners; a new buyer's tax bill can be much higher than the seller's, so estimate on the purchase price, not the current bill.
Which program fits me in Florida?
It depends on who you are, not where you are: physicians, veterans, builders, renovators and high-net-worth borrowers each have a page for Florida below. If you are not sure, ask Rosie first, free, any hour, and book Sean when you are ready.
Ask first. Book when you're ready.
No forms. No credit check. No follow-up calls unless you ask for one. Just a conversation with Rosie about Florida.
Ask Rosie