A bank can only offer you their loans — whatever products their corporate office tells them to sell. A broker like Black Rock has access to 200+ wholesale lenders, all competing for your business. We shop your scenario across that entire network and match you with the lender most likely to approve your file at the best rate.

Same loan programs (FHA, VA, conventional, USDA), but more competitive pricing and more flexibility on edge cases. Brokers don’t fund the loan themselves — we originate, the wholesale lender funds and services. You won’t notice a difference at closing, but you’ll notice the difference in your rate.

A pre-qualification is a quick estimate based on info you give us — no documentation, no credit pull, just a rough “you probably qualify for X.”

A pre-approval is a verified document. We’ve pulled your credit, reviewed your income and assets, and we’re confident in your loan amount. Realtors and sellers want to see a pre-approval letter, not a pre-qual — it’s the document that gets your offers taken seriously. Apply for pre-approval here.

Honest answer: rates change daily, and there’s no single “best rate” for everyone. The best rate for you depends on your credit profile, down payment, loan type, occupancy, and which lender is most competitive on your specific scenario at that moment. That’s exactly why a broker matters — we shop your file across our lender network in minutes and show you the actual quote for your situation, not a teaser ad rate.

Worth knowing: FICO gives you a 14–45 day window where multiple mortgage inquiries count as a single inquiry for credit scoring purposes, so shopping multiple lenders won’t tank your score. Compare freely.

Once you have a property under contract and you’re confident the deal will go through, lock your rate. Rates are guaranteed for a set period — typically 30 to 45 days. Locking early protects you from rate increases between contract and closing.

If rates drop significantly after you lock, some programs offer float-down options that let you capture a lower rate. We’ll walk you through the timing decision — there’s no perfect answer, just a tradeoff between certainty and potential savings.

Depends on the loan program. FHA allows scores as low as 580 with 3.5% down, and we can go to 560 with 5% down. USDA and VA generally prefer 620+. Conventional typically starts at 620–640.

There’s almost always a program for someone with imperfect credit. The higher your score, the better your rate — but don’t assume you can’t qualify just because your credit isn’t perfect. If your score is genuinely too low for any program right now, we can map out a 6–12 month credit prep plan to get you there.

DTI is the percentage of your monthly gross income that goes toward debt payments. The formula: total monthly debt payments ÷ gross monthly income.

Lenders focus on “back-end” DTI, which includes the new mortgage payment (principal, interest, taxes, insurance) plus all your existing debts — car loans, credit card minimums, student loans, alimony. Most loan programs want DTI under 43–50%. Try our affordability calculator to see what your DTI looks like at different price points.

Yes. Student loans don’t disqualify you — they just count toward your DTI calculation. The exact math depends on whether your loans are in repayment, deferment, or income-driven repayment plans, and each program (Fannie, Freddie, FHA, VA) has slightly different rules for how to treat the monthly payment.

We have plenty of Florida buyers with significant student debt who qualify for mortgages. The trick is picking the right program for your situation — and that’s what brokers are for.

Don’t assume you can’t qualify. With FHA we can lend down to 580 (sometimes 560), VA has real flexibility on credit for veterans, and there are non-QM and bank statement programs for unique situations. We can also work around isolated credit events like a recent collection or a bankruptcy that’s been seasoned for 2+ years.

If your credit is genuinely too low to qualify right now, we’ll map out a credit prep plan to get you there in 6–12 months. The worst thing you can do is assume you can’t and not even ask.

A typical purchase loan closes in 21–35 days from contract acceptance to closing day. Roughly:

Pre-approval: 24 hours. House hunting: varies. Contract acceptance: 1 day. Processing & underwriting: ~2–3 weeks. Closing: ~30 days from contract.

Refinances run similar — typically 30–45 days. We push to close fast, but you can speed things up by being responsive when we ask for documents.

Standard income, asset, and credit docs. Generally: 2 most recent pay stubs, 2 years of W-2s or tax returns (3 years if self-employed), 2 months of bank statements, your ID, and any divorce, bankruptcy, or foreclosure documentation if applicable.

We have a full checklist on our Documents Needed page that walks through everything by loan program. If you have a unique situation (self-employed, gift funds, recent job change), we’ll let you know what extras we need.

Escrow is a separate account your lender uses to pay your property taxes and homeowners insurance on your behalf. Each month, a portion of your mortgage payment goes into escrow, and the lender pays your tax and insurance bills directly when they’re due.

This protects the lender (they want to make sure these get paid — unpaid taxes can put a lien on the property) and protects you (you don’t have to budget for a giant tax bill once a year). Some buyers can opt out of escrow with 20%+ down, but most loans require it.

You sit with a title company representative or real estate attorney, sign roughly 30–50 pages of documents (we’ll prep you for what each one is), hand over a cashier’s check or wire transfer for your down payment plus closing costs, and receive the keys to your new home.

Closing typically takes 30–60 minutes. You’ll review the Closing Disclosure 3 days before closing — that’s the final accounting of every dollar, and we walk through it with you so there are zero surprises at the table.

Less than you probably think. VA and USDA loans are 0% down. FHA is 3.5% down. Conventional first-time buyer programs start at 3% down. Standard conventional is 5%.

Down payment assistance programs in Florida can cover all or part of your down payment for qualifying buyers. The “you need 20% down” myth is just that — a myth.

On conventional loans, yes — 20% down avoids private mortgage insurance (PMI). But there’s nuance:

FHA loans have mortgage insurance regardless of down payment. VA and USDA have no monthly PMI but include a one-time funding or guarantee fee. With conventional plus PMI, the PMI typically drops off automatically once you reach 20% equity through paydown or appreciation. For most buyers, paying PMI for a few years to get into a home sooner is a better play than waiting to save 20%.

Closing costs in Florida typically run 2–5% of the loan amount and include lender fees, title insurance, recording fees, prepaid taxes and insurance, and your first escrow deposit. On a $300,000 loan, that’s roughly $6,000–$15,000 depending on the property and program.

Good news: closing costs can often be negotiated as a seller concession (the seller pays them out of their proceeds), rolled into a refinance loan, or partially covered by lender credits in exchange for a slightly higher rate. We’ll model the options at pre-approval.

After you close on your primary residence in Florida and establish residency, you file with your county property appraiser for the homestead exemption. It can knock $25,000–$50,000 off your home’s taxable value — real money on your annual property tax bill.

Once homestead is established, your assessed value is also capped at 3% annual increases under Florida’s “Save Our Homes” provision. That protects you from runaway tax bills as your home appreciates. File the year after you close — there’s a deadline of March 1, so don’t miss it.