The Black Rock Blog
Real programs, real numbers, and the things most lenders won’t tell you — written by a broker who closes what he writes about.
A DSCR loan qualifies the property, not you: rent divided by the full payment. The real Florida numbers — 20% down, the 1.20 target, five ways to fix a short ratio, the insurance trap, and the prepayment penalty nobody warns you about.
FHA won’t finance a home the seller has owned 90 days or less. From day 91 to 180, a price that has doubled triggers a second appraisal you can’t be charged for. How the days are counted, the exemptions, and what to do when the house you want is inside the window.
Pre-qualified, pre-approved, and underwritten are three different letters — and sellers can tell which one you’re holding. The exact document list, what the lender actually pulls, why the letter lasts 90 days, the 14–45 day rate-shopping window, and the Florida-only items (insurance, HOA, condo questionnaire, Hometown Heroes) that change your number.
As of September 2, 2026, Fannie Mae no longer requires a lease to offset the mortgage payment on the home you’re leaving. The appraiser’s market rent does the job instead. What changed, the before-and-after math, how Freddie Mac and VA compare, and who this helps in Florida.
Effective September 2, 2026, Freddie Mac permits conventional mortgages on manufactured homes that have been moved from another site. Until now only VA allowed it. What’s required, who it helps, and how to refinance a high-rate 21st Mortgage or chattel loan on a moved home.
More homeowners now carry a rate above 6% than below 3%, and 54% of Q1 2026 equity withdrawal came through second liens. Seven numbers — with charts — on what actually changed in the housing market.
Two lenders can quote the same borrower rates roughly half a percent apart — Freddie Mac measured it. One application priced across 200+ wholesale lenders, how broker compensation rules protect you, and the honest caveats no ad will mention.
$541,287 in most Florida counties, $990,150 in the Keys — the 2026 FHA loan limits county by county, why the cap is on the loan (not the house), and the $1M fourplex rule almost nobody uses.
The building — not you — decides your condo loan. The tests Fannie and Freddie run on every Florida project, the post-Surfside inspection wrinkle, and how to finance a building that fails: real down payments, real rate premiums, no surprises at closing.
The 10% down floor, the occupancy test that separates second homes from investment property, why the beach condo you love might be a condotel your bank can’t finance — and the Florida tax catch: no homestead exemption on a second home.
Where Florida retirement still pencils out on a fixed income: Ocala, The Villages’ edges, Sebring, and the Nature Coast — plus the retiree tax stack and how buyers 62+ purchase with no monthly mortgage payment.
The Fed doesn’t set your mortgage rate — the bond market does. What actually moves rates week to week, where they sit in July 2026, and the levers Florida borrowers control.
The four major Florida loan programs compared honestly: down payments, credit floors, mortgage insurance, 2026 limits — and the crossover rules that decide which one actually saves you money.
The actual math lenders use in Florida: the two debt ratios, income needed for a $200K-$500K home at 2026 rates, and the Florida traps (taxes, insurance) that change the answer.
Hometown Heroes, FL Assist, USDA, FHA and VA — every real Florida first-time buyer program in 2026, what it takes to qualify, and how to stack them to bring almost nothing to closing.
Florida property tax exemptions explained: the homestead exemption, Save Our Homes cap, senior and veteran exemptions, portability, and how to apply by March 1.
Everything you need to buy a house in Florida in 2026: credit scores, income documents, down payment by loan type, and Florida-specific costs — full checklist.
How rent-to-own homes work in Florida, the real risks in lease-option contracts, and why many renters actually qualify for a mortgage today with $0-$10K down.
Every Florida first-time home buyer grant and assistance program for 2026 — Hometown Heroes, FL Assist, HLP, MCC tax credit — and how to combine them.
The 12 cheapest places to buy a house in Florida in 2026 — and the $0-down and low-down financing that works in each one, from a Florida mortgage broker.
You pulled your credit on your banking app, saw a number in the 720s, then a lender quoted you off something 40 points lower. Same you, same credit — different score. Here’s why that gap finally matters in 2026, and how the right score can change your rate, your costs, and whether you get approved…
Here’s the math, the strategy, and the honest answer most people don’t want to hear — but need to. By Keith Meredith 2026 11 min read I get this question more than almost any other right now: “Keith, should I just wait until rates come down?” It’s a fair question. Rates have been elevated for…
Manufactured homes are more financeable than most people think. Here are the programs, the myths, and how to actually qualify. 📖 12 min read Manufactured homes are one of the most misunderstood segments of the housing market. I’ve talked to dozens of buyers over the years who assumed a manufactured home meant cash-only or a…
A Fannie Mae provision lets you put as little as 5% down on a second primary residence — for your parents. Here’s how it works, what to watch for, and the questions most people don’t think to ask. 📖 8 min read I’ll be honest — I’ve been doing mortgages for over 16 years and…
New FHA Mortgage Insurance Premium Rates The FHA mortgage program has been extremely successful. The program is more than solvent and that has allowed HUD to lower the monthly mortgage insurance premiums at a time when home affordability is stressed with higher mortgage interest rates. The previous rate was .85% a year on the total…
Program Status: Discontinued Florida’s MCC program is no longer offered. The good news: better help exists today. Hometown Heroes offers up to $35,000 toward your purchase, and Florida’s down payment assistance programs remain active. This page stays up for reference — get pre-approved and we’ll match you to what’s available now. Attention Real Estate Agents!…
The USDA has increased the income limits for their $0 down home loan program! For almost all of the counties in Florida the new USDA income limits for a household of 4 or less is $122,800. For a 5-8 person household the new income limit is $162,100. 1- 4 person household 5 – 8 person…
Can I finance a log cabin? The answer is yes! Some lenders won’t let you but it’s not a problem for us. Conventional financing is going to be your best bet for a loan program. For a primary residence you can buy with as little as 5% down. If you’re first time home buyer you…
Last updated June 11, 2026 · Written by Keith Meredith, Florida mortgage broker · NMLS #303217 Quick answer: Florida USDA turn times typically run 1–15 business days after underwriting, through a single statewide queue. To hear the exact submission dates the USDA is processing right now, call the Florida Rural Development hotline at 352-338-3421 —…