Florida Loan Programs

Twelve mortgage programs for Florida home buyers — conventional, FHA, VA, USDA, jumbo, self-employed, investor, manufactured home, construction, and down payment assistance. We shop 200+ wholesale lenders to match you with the right program at the best rate.

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Call Keith: 352-619-4959

$0 Down Options

USDA and VA both offer $0 down. FHA goes 3.5% down. Down payment assistance programs can cover the rest — buy a home with little to nothing out of pocket.

200+ Lenders Shopped

As a brokerage, we shop your scenario across 200+ wholesale lenders. Banks can only offer their own products — brokers find the best rate and structure for you.

24-Hour Pre-Approval

On weekdays we review applications within 24 hours or less — so you can shop with a real pre-approval letter, not a generic pre-qualification.

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loan programs

Conventional Financing

Buy a home with conventional financing from as little as 3% down on your primary residence, 10% down for a second home, and 20% down for an investment property.

FHA Financing

Buy with as little as 3.5% down and a credit score as low as 580. Great for first-time buyers who don’t want geographic limitations on their purchase.

VA Financing

Have you served in the military? Use your VA benefit and buy with $0 down anywhere — or refinance up to 100% of your home’s value. An amazing option for those who qualify.

USDA Financing

Buy with $0 down using the USDA rural development mortgage. Great for first-time home buyers — geographic and household income limits do apply.

First-Time Home Buyer

Buy with as little as 3% down using conventional financing as a first-time buyer — sometimes even 1% down. No FHA guarantee fee, MI falls off at 78% LTV.

Hometown Heroes

Up to $35,000 toward down payment and closing costs for Florida’s healthcare workers, teachers, first responders, military, and veterans. Below-market rate.

Jumbo Loans

For loan amounts above the conforming limit. Up to $4M standard, $15M with exception. 10% down options, 650 FICO floor, bank statement and DSCR alternatives.

Self-Employed Programs

If you’re self-employed, you need to know your options. Bank statement mortgages and 1-year-tax-return programs let your real income show. Let us walk you through your options.

DSCR Investor Loans

Debt Service Coverage Ratio mortgages — qualify on the property’s rental income, not your personal income. Single-family, condos, multi-family, even apartment buildings.

Manufactured Homes

Finance a manufactured home through VA, FHA, USDA, or conventional. HUD-code homes back to 1976. Singlewides welcome. Doublewides for second homes allowed.

Construction Loans

Build the home you want, financed through FHA, VA, or conventional. Our one-time-close construction product works with a lot you already own — or one you want to purchase.

HELOCs

A HELOC is an easy way to access your home’s equity while keeping your first mortgage in place. Automated valuation and easy underwriting make these quick to get done.

Finding the Right Florida Loan Program

The “best” loan program isn’t a universal answer — it depends on your credit, your down payment, where you’re buying, what kind of property you’re buying, and how you earn your income. The wrong program can cost you tens of thousands over the life of your loan. The right one can save you a down payment you didn’t think you had.

As a Florida mortgage brokerage with 200+ wholesale lenders, we shop your scenario across multiple programs and compare them side-by-side. Sometimes the answer is FHA. Sometimes it’s conventional with a lower MI factor. Sometimes it’s a USDA loan you didn’t know you qualified for. Sometimes it’s a stack of Hometown Heroes plus seller concessions plus a forgivable grant. Our first job is figuring out which program fits — not selling you the one that pays us best.

Compare Florida Loan Programs Side-by-Side

Every Black Rock Mortgage program at a glance — credit minimums, down payment, loan limits, who it’s built for. Filter by what you bring to the table; sort to see how programs stack up.

Your credit

Down payment available

Buyer type

Property type

12 programs shown

Program	Min Credit ▲▼	Min Down ▲▼	Loan Limit ▲▼	Mortgage Insurance	Max DTI	Best For	Key Advantage

Loan limits, credit floors, and MI factors reflect Black Rock Mortgage’s current published guidelines (May 2026). FHA county limits and conforming limits update annually — see our Florida county loan limits tool for live values. Final approval depends on full underwriting.

Common Florida Buyer Scenarios

First-time buyer with strong credit: Conventional 3% down + Hometown Heroes (if eligible)
First-time buyer with low credit or low down payment: FHA 3.5% down + DPA
Veteran: VA $0 down — almost always the best option for those who served
Rural buyer: USDA $0 down with eligible-area + income-cap qualification
Self-employed: Bank statement program or 1-year tax return Freddie Mac approval
Real estate investor: DSCR loan (qualifies on rental income, not personal income)
Luxury home buyer: Jumbo loan up to $4M standard, $15M with exception
Manufactured home buyer: Conventional, FHA, VA, or USDA — singlewides as primary, doublewides as second home
Lot owner building from scratch: One-time-close construction loan converts to permanent at completion

Loan Program Frequently Asked Questions

Depends on the program. USDA and VA both offer $0 down for qualified borrowers. FHA is 3.5% down. Conventional first-time buyers can put 3% down (1% in some scenarios). Down payment assistance programs like Hometown Heroes can cover the down payment entirely. We’ll model multiple scenarios to find the lowest out-of-pocket option for your situation.

FHA goes as low as 580 (or 500-579 with 10% down). VA typically requires 580+. USDA needs 640+. Conventional starts at 620. Bank statement programs start at 600 with 30% down. Lower scores generally mean higher rates and bigger down payments — but there’s almost always a path forward.

Yes — multiple ways. Conventional financing with 2 years of tax returns (or 1 year if you’ve been self-employed 5+ years through Freddie Mac). Bank statement programs that use 12-24 months of bank deposits instead of tax returns. DSCR loans for investment property. We have at least one path for almost every self-employed scenario.

If you haven’t owned a primary residence in the last 3 years, you qualify as a first-time buyer for most programs — even if you owned years ago. Veterans get an exception (don’t have to be first-time). Hometown Heroes also waives the FTHB requirement for veterans. We’ll verify your status and find every program you qualify for.

FHA accepts lower credit scores and higher debt-to-income ratios but charges an upfront 1.75% guarantee fee plus 0.85% annual MI for the life of the loan. Conventional requires a 620+ FICO but has no guarantee fee and PMI falls off automatically at 78% LTV. With strong credit, conventional MI is often cheaper than FHA’s flat 0.85%.

Yes — VA loans for veterans and USDA loans for rural-eligible buyers both offer $0 down. Hometown Heroes can cover the down payment on FHA, conventional, or USDA loans for eligible Florida professions. Down payment assistance programs (forgivable grants and 0% second mortgages) can also cover 100% of down payment + closing costs.

Standard purchase closings run 30-45 days from contract to close. DPA programs add 5-10 days because of additional underwriting. Construction loans run longer due to the build phase. Pre-approval itself takes 24 hours on weekdays — and you can shop with a real pre-approval letter, not a generic pre-qualification.

Standard application: 2 years W-2s, 30 days of pay stubs, 2 months of bank statements, 2 years of tax returns (if self-employed), and ID. Bank statement programs swap tax returns for 12-24 months of bank statements. VA borrowers need their Certificate of Eligibility. USDA needs proof of household income. We send a specific document checklist for your scenario when you apply.

About the Author

Keith Meredith

Division President, Black Rock Mortgage
NMLS 303217 · 16+ years originating · $100M+ in mortgages closed

Keith Meredith is a 16 year mortgage industry expert who has originated over $100,000,000 in mortgages. Headquartered in Ocala, Florida, Keith runs Black Rock Mortgage as a division of Coast 2 Coast Mortgage, a lender licensed in 40 states. Keith specializes in manufactured home financing, self-employed mortgages, VA construction loans, and helping first-time buyers navigate FHA, USDA, and conventional programs. He creates written and video content to help borrowers understand their financing options.

Call or text directly: 352-619-4959 · Follow Keith on X, Facebook, Instagram, and LinkedIn

Get a No-Hassle Pre-Approval

Send us your scenario — purchase price, down payment available, FICO, employment type, and what kind of property you want to buy. We’ll match you to the right loan program and save you the most money. On weekdays we review applications within 24 hours or less.

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