Start With the Basics
Before choosing a loan program, start with the three things that shape your homebuying plan: your budget, your preparation, and your timeline.
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Your Budget
Start with a monthly housing payment that feels comfortable. Consider your available funds, expected closing costs, insurance, taxes, HOA costs, and savings you want to keep after closing.
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Your Preparation
Know what information a lender may request when you are ready to apply. Organizing your income, asset, employment, and housing information ahead of time can make the process easier.
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Your Timeline
Your next step may look different if you are buying in the next few months versus next year. Your timeline helps determine whether to prepare, talk through options, or begin the application
Explore Common Financing Paths
The right financing path depends on your goals, eligibility, property, and overall financial picture.
Conventional
A common option for buyers with stronger credit and stable income. Conventional loans may offer flexible terms and can work well for many primary-home buyers.
FHA
FHA loans are designed to be more flexible for many buyers, especially those with lower down payments or less established credit. Mortgage insurance is typically required.
VA
VA loans are available to eligible veterans, active-duty service members, and some surviving spouses. They can offer strong benefits, including low down payment options when eligible.
USDA
USDA loans are designed for eligible buyers purchasing in certain rural and suburban areas. Income and property rules apply, so it is important to confirm eligibility.
Florida Down Payment Assistance
Some Florida buyers may be able to combine their mortgage with assistance for upfront costs. Program availability, income limits, and eligibility guidelines can change.
Example only. Terms depend on underwriting. Program guidelines and eligibility can change.
FIRST-TIME BUYER?
Buying Your First Home? Start With the Basics.
Buying your first home comes with a lot of new terms, decisions, and moving parts. Start by learning what to prepare, how the mortgage process works, and what questions to ask before you begin shopping seriously.
✓ Understand the mortgage process
✓ Prepare your budget and documents
✓ Learn what to expect before you apply
Buying in Florida?
Plan for More Than the Mortgage
Homeowners Insurance
Homeowners insurance can affect both your monthly housing cost and the financing process. Get property-specific quotes early so you understand the coverage and estimated cost before closing.
Property Taxes
Do not assume the seller’s current property tax bill will become yours. Taxes can change after a sale, so use a realistic estimate when planning your monthly housing budget.
HOA & Condo Costs
Association dues, special assessments, insurance, and condo or HOA requirements can affect both your budget and financing. Review these costs and documents early in the process.
Flood & Property Considerations
Flood risk, property condition, location, and insurance requirements can affect a Florida purchase. Standard homeowners insurance generally does not cover flood damage, so check the property-specific requirements early.
Example only. Terms depend on underwriting. Insurance, taxes, association costs, property requirements, and program guidelines can vary.
How Buying a Home Works
The exact details can vary, but most home purchases follow a similar path from preparation through closing.
01
Prepare
Review your budget, timeline, credit, savings, and what you may need to organize.
03
Apply Securely
When you're ready, complete your mortgage application through the secure borrower portal.
05
Underwriting & Closing
The borrower, loan, and property are reviewed before final approval and closing.
02
Talk Through Your Options
Discuss financing paths that may fit your goals and situation.
04
Shop for Your Home
Work with your real estate professional while staying within the financing plan you've discussed.