A Florida Mortgage Company

From ultra-trendy South Beach to the Everglades National Park, Florida is an amazing state to call home. Florida isn’t the most expensive state to live in, but it isn’t the cheapest either. Florida usually hovers around the middle in terms of affordability. The mortgages being offered in Florida are some of the most competitive in the nation, but if you are a veteran, first responder, or teacher, you may qualify for even lower rates.

Sunny beaches, ultra-sleek condos, and vibrant wildlife attract thousands of people to move to Florida every year. Apart from tourist hotspots like Miami and Palm Beach, Florida is actually quite an affordable place to live. It’s no wonder it was the most moved-to state in the US for 2020 and 2021–The Home Loan Expert loves being a Florida mortgage company here! 

But affordability and sun aren’t the only things encouraging Illinois and even California residents to move to the Sunshine State. Retirement, laid-back lifestyle, family values, and job opportunities all make Florida a desirable place to call home.

So, are you interested in finding a new life with bustling industries and ever-present hot weather? Your first step is to find a reliable Florida mortgage company and home loans. Then, you can assess loan types and real estate to find something that works for your financial situation and lifestyle desires.

Here at the The Home Loan Expert, we’ve helped countless customers like yourself secure affordable home loans for their Florida mortgages. Our take? Mortgages don’t have to be intimidating and inaccessible–everyone deserves a place to call home and the pride and flexibility of homeownership.

Today, we’ll cover everything you need to know about finding Florida mortgages and home loans, from refinancing possibilities and government-backed loans to average housing prices and Florida mortgage lenders reviews.

Buying a Home in Florida

A consistent influx of immigration both international and domestic continues to drive Florida real estate prices up. Today, the average home price in Florida is $378,104–a 33.1% increase from last year. It feels only yesterday that you could score a Florida home for under $100,000, but that was in 2013–nearly ten years ago.

Of course, Florida’s average isn’t much higher than the national average, at around $374,000. But keep in mind Florida can have more expensive homes in their touristy areas that drive up the average.

If you’re looking to buy in Florida, you’ll find fantastic options for both residential and investment purposes. We say investment because renting out your home could fetch you an average of $1,700 per month for a larger property. There’s also a relatively healthy ratio of homeowners to renters in Florida, at 66% vs. 34%, respectively.

Florida CityMedian Price (Zillow)
Miami$494,927
Palm Beach$1,976,015
Tampa$398,384
Orlando$365,589
Sarasota$467,844
Lakeland$280,118
Fort Walton Beach$336,937
Vero Beach$363,070
Mount Dora$439,900
Dunedin$403,287

Florida Mortgage Rates

We’ve compiled a list of current mortgage rates in Florida (as of the publishing of this post) based on data from the US Bank. Here’s what you’re looking at for interest depending on loan types:

Conventional mortgages (fixed-rate)

30-year fixed: 5.375%

20-year fixed: 4.99%

15-year fixed: 4.5%

10-year fixed: 4.375%

Adjustable-rate mortgages (ARM)

10-year ARM: 5.125%

5-year ARM: 4.75%

VA mortgages

30-year fixed: 5.125%

15-year fixed: 5.125%

Jumbo mortgages

30-year fixed: 5.25%

20-year fixed: 5.25%

15-year fixed: 5%

FHA mortgages

30-year fixed: 5.25%

15-year fixed: 5.125%

Phew, that was a lot of mortgage loan types! Wondering what they mean, which are government-backed, and which are considered conventional? Keep reading!

Best Home Loan Mortgage Options in Florida

Shopping for a mortgage loan in Florida? You have a few different options:

ARM (adjustable-rate mortgages): Adjustable-rate mortgages are loan types with interest rates that change with the market. In other words? You’d reap the benefits of a sharp interest rate decline, yet typically experience the burden of a sharp rise.

Government-insured mortgages (FHA, VA, and USDA-backed mortgages): Government-backed mortgages make homeownership accessible to people with poor credit or limited income history. They also allow smaller down payment requirements, which otherwise prevent veterans and other groups from buying a home. 

Finally, USDA-backed mortgages are for farmers or prospective rural residents–a great match for the aspiring Floridian orange harvester!

Fixed-rate mortgages: Remember the adjustable-rate mortgages we mentioned earlier? These are the complete opposite. Fixed-rate mortgages protect you from unfavorable interest rate fluctuations. However, they prevent you from savings if interest rates fall, locking your rate.  

Conventional mortgages: If you have relatively decent credit ratings and can afford a standard down payment (10%-20%), a conventional mortgage is for you. These aren’t government-backed mortgages, though they range in loan types from fixed-rate to adjustable-rate.

Uncertain which mortgage loan matches your needs the most? Explore our complete list of home loan options available to Florida residents!

Best Mortgage Lenders in Florida Including Local Florida Mortgage Lenders

The Home Loan Expert 

Here at the Home Loan Expert, we’re a direct lender that places customer experience at the top of our priority list. We value transparency, reliability, and of course affordability, where income and credit don’t completely dictate whether you have a chance at homeownership.

Don’t be fooled by our national presence: our local home offices ensure you get a local touch with the same precision and professionalism as a big, trusted corporation. We’ve helped countless aspiring Florida residents find affordable home loans to live their dreams in the sunshine state. And, we offer a wide range of loan types to accommodate different income levels and financial situations.

Looking for a trusted guide on your search for a home equity loan? The Home Loan Expert’s skilled consultants and dedication to excellence won’t disappoint. We manage every loan application in-house and walk you through the entire process, without thrusting you into third-party conversations.

Homeownership is a short application away. Just fill out our 5-Minute Loan Approval* application.

 Loans & Services:

Pros: 

  • Unparalleled customer experience
  • Reliability in having the entire process under one roof
  • Personable attitude and nature
  • Lowest closing costs
  • Flexible loan and mortgage options
  • Down payment assistance

Cons: 

Minimum down payment: Ranging from 3% to 0% (for VA members)

Apply for a Florida mortgage loan at The Home Loan Expert today!

Rocket Mortgage

Rocket Mortgage is one of the largest mortgage companies in the country. With its reputation and resources, it’s hard not to include them on our list of Florida mortgage company and home loans.

The company’s completely online process is praised by consumers as super convenient and easy to manage. Moreover, customers appreciate Rocket Mortgage’s customer support team, citing quick responses and helpful insights.

Loans & Services:

  • Conventional mortgages
  • Fixed-rate mortgages
  • Adjustable-rate mortgages
  • USDA Loans
  • FHA Loans
  • VA Loans
  • Jumbo Loans

Pros: 

  • Offers realistic loan estimate
  • Fully online, streamlined process
  • Quick approvals 

Cons: 

  • No home equity loans or lines of credit
  • High fees

Minimum down payment: 3%

Axos Bank

Could you imagine credit card-like rewards on a mortgage? Axos Bank makes that possible with its 3% annualized cash back on its mortgage loans. Headquartered in San Diego, Axos Bank offers low down payment options and quick closing for Floridians eager to occupy their new home. 

Axos also offers interest-only mortgages for consumers in a pinch that can’t pay principal payments right away.

Loans & Services:

  • Portfolio home loans (customized)
  • Fixed-rate mortgages
  • Adjustable-rate mortgages
  • Home equity loans and lines of credit
  • FHA Loans
  • VA Loans
  • Jumbo/Super Jumbo Loans

Pros: 

  • Offers realistic loan estimate
  • Fully online, streamlined process
  • Quick approvals 

Cons: 

  • No home equity loans or lines of credit
  • Fully online process, which can be off putting for some 
  • High fees

Minimum down payment: 3%

Best Florida Mortgage Lenders by City (with Local Florida Lenders)

Perhaps you’re looking for a more local experience. Keep in mind that the Home Loan Expert does just that with its dedicated local branches across the country, including Florida.

But we’re certainly not the only Florida mortgage company and home loans provider available with a local touch. Here are some more local options for you to consider:

Florida Mortgage Lenders in Miami

Florida Mortgage Lenders in Tampa

Florida Mortgage Lenders in Tallahassee 

Florida Mortgage Lenders in Orlando

Florida Mortgage Lenders in Jacksonville

Florida Mortgage Lenders in Destin

Florida Mortgage Lenders in Port St. Lucie 

Florida Mortgage Lenders in St. Petersburg 

Florida Mortgage Lenders in Hialeah

Best Mortgage Lenders for Florida First-time Homebuyers

Credit scores, down payments, and interest rates are nerve-wracking enough to deal with on your second or third home. If you’re a first-time homebuyer, it’s completely normal to feel overwhelmed! That’s why here at The Home Loan Expert, we offer customized solutions and dedicated consultations to help you throughout the entire process.

Let’s explore some Florida mortgage lenders and home loans providers that offer incredible first-time homebuyer mortgages.

The Home Loan Expert 

Finding a mortgage as a first-time homebuyer is typically more intimidating. Why? You don’t always know what to expect, and you’re wary of mortgage brokers and deals that feel too good to be true.

Here at The Home Loan Expert, we’re experienced in helping all kinds of customers, including first-time homebuyers, find their dream homes. We offer a personal touch to our customer experience, making you feel supported and in good hands as you embark on your first (and biggest) investment.

Don’t worry if you’re inexperienced or uncertain about the housing market. Take the leap with us and fill out a 5-Minute Loan Approval* application.

Loans & Services:

Pros: 

  • Unparalleled customer experience
  • Reliability in having the entire process under one roof
  • Personable attitude and nature
  • Lowest closing costs
  • Flexible loan and mortgage options
  • Down payment assistance

Cons: 

Minimum down payment: Ranging from 3% to 0% (for VA members)

Start the approval process at Home Loan Expert today!

New American Funding 

A Floridian first-time homebuyer should have access to multiple home loan options and impeccable customer experience throughout the process to advise them in this new venture. A diverse company, New American Funding boasts initiatives to spread mortgage education to low-income communities, and values representation in the workforce and American homeowners.

The most important part? Dedicated first-time homebuyer loans, which New American Funding offers.

Loans & Services:

Pros: 

  • Detailed customer experience
  • Wide range of loan options for self-employed and low-credit individuals
  • Diverse mindset

Cons: 

  • Lender fees aren’t transparent.

Minimum down payment: 3%

AmeriSave 

AmeriSave Mortgage is renowned for its shockingly low home loan rates – ideal for first-time homebuyers! Operating in every state except New York, AmeriSave has 20 years of experience helping Americans finance their dream homes.

Loans & Services:

  • Adjustable-Rate and Fixed-Rate Mortgages
  • Cash-Out Refinance
  • Conventional Loans
  • FHA Loans
  • VA Loans

Pros: 

  • Low interest rates
  • Transparent fees
  • Quick, accurate quotes

Cons: 

  • Higher origination fee
  • No home equity loans

Minimum down payment: 3%

Refinancing in Florida

Mortgages vary in purposes and terms. For example, a first-time homebuyer might need a mortgage to secure their first home, while a seasoned homebuyer might use one to renovate a fixer-upper. Refinancing mortgage loans in Florida helps you fulfill other financial goals, such as:

  • Construction and renovation
  • Securing lower interest rates
  • Finding more favorable terms
  • Ceasing mortgage insurance payments
  • Lowering monthly payments
  • Consolidating debt

But whether you’re refinancing or obtaining a new mortgage, you should prepare for all the costs associated.

Mortgage Calculators for Florida Home Loans

Mortgage calculators help you map out your mortgage payments, ensuring you’re prepared and organized for your upcoming costs. You can input your home price, down payment, and interest rate to predict your monthly payments. The best part about mortgage calculators is imagining all the possibilities. You can play around with them, using different home prices and interest rates to assess what you can afford.

The calculators will break down your monthly payment amount into each expense, including principal, interest, insurance, taxes, etc.

We love mortgage calculators, but we also expanded our offerings to include:

Our goal? To offer you a full suite of tools to make you feel as confident as possible when get started with your Florida Home Loan. 

The Home Loan Expert in Florida 

We provide Florida mortgage services in: 

  • Miami
  • Orlando
  • Tampa
  • Jacksonville
  • Fort Lauderdale
  • Saint Augustine
  • Naples
  • Sarasota

& many more!

Our home loan options in Florida include: 

The Home Loan Expert offers Florida residents the most competitive mortgage rates in the state. With decades of experience in the mortgage industry, we look forward to helping you finance your dream home in Florida.Fulfill your sunshine-state home dreams today by getting started with our 5-minute approval process.

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