Mortgage guidance · Licensed state
Mortgage broker serving Florida
Michael DuBois is a mortgage broker serving eligible buyers and homeowners in Florida, one of 14 states where he is licensed through Stonebridge Mortgage Inc. For first-time buyers, Florida Housing Finance Corporation (Florida Housing) publishes a homeownership program worth checking before you commit to a financing plan.
Which Florida first-time-buyer resource is available?
Florida Housing Single Family Homebuyer Loan Program is published by Florida Housing Finance Corporation (Florida Housing). Florida Housing says its Homebuyer Program offers 30-year fixed-rate first-mortgage loans to first-time homebuyers through participating lenders statewide. The agency says eligible borrowers may also use certain second-mortgage programs for down-payment and closing-cost assistance; assistance is not standalone and must be paired with a Florida Housing first mortgage. The page lists a minimum 640 credit score, approved lender and homebuyer education, county income and purchase-price limits, and an IRS first-time-buyer test (not having owned and occupied a primary residence during the prior three years).
Program availability, rates and borrower eligibility change. Ask the agency or a participating lender to confirm the current rules for the property and your application.
How might Florida property taxes affect the payment?
Florida property taxes are assessed and collected locally. The Florida Department of Revenue says a qualifying permanent-residence owner may be eligible for a homestead exemption reducing taxable value by as much as $50,000, but eligibility and application are handled by the county property appraiser. DOR also cautions that a purchase can trigger reassessment and the new bill may differ from the prior owner's bill; check the county property appraiser for an estimate.
Official references: Florida property tax guidance · Florida property tax guidance
Get a property-specific estimate from the local assessor or tax office; a seller's existing bill might not reflect your future taxes.
What should a Florida buyer know about closing costs?
Closing costs vary by transaction and contract. The CFPB lists possible charges including appraisal, title insurance, government taxes, tax-service fees, and prepaid property taxes, insurance, and interest; the buyer generally pays transaction costs, although the contract or state law may allocate some to the seller. Review the Loan Estimate and Closing Disclosure with your lender.
References: CFPB: mortgage closing costs
Review the Loan Estimate and Closing Disclosure for your actual numbers and any credits or assistance. Michael can help you ask the right questions while the lender and settlement provider confirm the figures.
Florida mortgage questions
Can Florida Housing's Homebuyer Program help with my down payment or closing costs?
Potentially, yes. Florida Housing may pair certain second-mortgage options with its first mortgage to help eligible borrowers with a down payment or closing costs, but a participating lender must review the applicable requirements.
Where can Florida buyers check first-time-buyer programs?
Start with Florida Housing’s official Homebuyer Program overview, then speak with a participating Florida Housing lender. The lender can explain current options and apply the program’s first-time-buyer test to your circumstances.
How are property taxes handled in Florida?
Florida property taxes are set and collected locally. If the home will be your permanent residence, apply through the county property appraiser for any available homestead exemption; a purchase can also trigger reassessment, so the prior owner’s bill may not predict yours.
Which closing costs should a Florida buyer plan for?
For a Florida purchase, budget for valuation and title work, government recording or tax charges, tax-service fees, and prepaid items such as property taxes, insurance, and interest. The contract may shift some costs to the seller, so confirm the allocation in the Loan Estimate and Closing Disclosure.
Does the Florida Housing Single Family Homebuyer Loan Program guarantee assistance?
No—assistance is not automatic. Any second-mortgage help depends on qualifying for a Florida Housing first mortgage and the applicable program requirements, with the final determination made through a participating lender.