Know your costs.
Take the next step.
You do not have to figure it all out at once. Start with your loan choices, the cash you may need, and a payment that fits your life.
The cash planner is free to use. No contact details or credit check are needed.
For a personal review, send your contact details and a short note. This is not a full loan application. No hard credit pull is needed for an initial quote.
You may qualify even if you bought a home years ago.
Florida Housing generally requires that you have not owned and lived in a home as your main home during the three years before you buy. Rules and exceptions may apply. Ask which rule applies to you.
You do not have to be a first-time buyer to use many home loans.
Source: Florida Housing homebuyer rules.
The best fit depends on your full costs and your needs. Ask about the payment, cash needed, fees and mortgage insurance for each loan you can use.
Some options let eligible buyers put as little as 3% down.
With less than 20% down, you will usually pay private mortgage insurance, called PMI. Ask what it costs and when you may be able to remove it.
Check: Which low-down-payment option fits your income and loan file?
Eligible buyers may put as little as 3.5% down.
FHA loans include upfront and ongoing mortgage insurance. Compare the full cost with a Conventional loan.
Check: What will you pay upfront and each month?
Eligible veterans, service members and some surviving spouses may buy with no down payment and no monthly mortgage insurance.
A funding fee may apply. You still need to meet lender and property rules. A price above the home's appraised value may mean cash is needed.
Check: Your VA eligibility, costs and any funding-fee exemption.
Eligible buyers may buy with no down payment in an eligible area.
Household income and property location matter. Fees and closing costs still need to be part of the plan.
Check: The home's address and the program's income rules.
Help with costs is a separate question. Assistance may work with a loan, but it has its own rules. Check both together.
These are starting points, not loan approvals. The lender reviews your credit, income, debts, savings and the home. Lenders may set rules beyond a program's minimums.
Your down payment is only one part of the plan.
The part of the price your main mortgage does not cover. Allowed gifts or help may cover some of it.
Costs to set up the loan and complete the sale.
You may need to prepay bills or put money into an account that pays them.
Keep room for moving, repairs and surprise bills.
Some money may be due before closing, such as a contract deposit or an inspection fee. A deposit held for closing is usually credited toward what you owe then. Ask when each cost is due and how it appears in your final numbers.
Change the home price, then compare the rough cash needed.
This simple planner shows up to 3%. Some loan programs may permit more, subject to eligible costs and the contract.
Include the new mortgage payment, utilities, debts, food, transportation and your normal living expenses.
Your rough planning numbers
Educational estimateThen try to keep money for real life
Already paid an earnest-money deposit? It normally counts toward the cash needed at closing - it is not an extra charge on top of this estimate.
Compare My OptionsPlanning estimate only, not a Loan Estimate, approval or promise of seller credit. This tool uses 3% of the home price as a rough starting allowance for closing costs and bills paid upfront. Your actual amount can be higher or lower and depends on the property, taxes, insurance, title fees, closing date, interest rate, lender and loan program. Seller credit generally cannot replace your required down payment or be received as extra cash.
No contact details or credit check are needed. Your final costs depend on the loan and the home.
Start with official sources. A program listing does not mean funds are open or that you qualify.
Check its statewide homebuyer loans and help with costs. This help is tied to a Florida Housing first mortgage and a participating lender.
This program has job and income rules. The current 2026 rules cover specific jobs and military groups. It is not open to every worker.
The help is a second loan that must be repaid. Check the full terms and current funding.
Local programs may have their own waiting lists and rules. Check the home's actual city or county boundary, not just its mailing address.
Find Florida housing help by county
Buying near Orlando? Check Orlando and Central Florida programs.
Know the type of help
Compare a loan with help and one without it. Less cash today may come with other costs or limits.
Mortgage Expert can help you compare choices. A listing here does not mean Mortgage Expert offers or participates in every program.
A loan payment is not the whole cost of owning a home.
Ask about flood insurance, condo fees and special charges for the area. Some charges may already be in the tax bill. Check before you add them twice.
In Florida, the seller's tax bill may not show what you will pay after you buy. Ask the county property appraiser for a buyer estimate. Get an insurance quote for the actual home before you commit.
Keep money in your budget for repairs, utilities and saving.
Open the question that matters to you.
A lender's approval is not your spending goal. Think about your job, savings, likely repairs and how long you may stay.
Do not make the purchase depend on a future refinance or a price gain. Neither is promised. If the payment leaves you no room, a lower price or more time may help.
A fixed-rate loan keeps the interest rate the same. An adjustable-rate loan can change under its terms.
A shorter loan term may cost more each month. A longer term may cost more interest over time. Ask for a side-by-side comparison.
If you pay points to lower a rate, ask how long the monthly savings would take to recover that upfront cost. Think about how long you expect to keep the loan.
Compare quotes from around the same time. Check:
A lower rate may cost more upfront. A credit may come with a higher rate. Compare both sides.
Savings, allowed gifts and approved assistance may be options. The loan rules control what is allowed and which records you need.
Keep a clear trail for money you receive. Tell your loan professional about large deposits. Do not assume cash on hand, a new loan or retirement funds will fit the rules.
A seller, builder or lender may offer a credit, subject to the loan's rules. A credit may cover only certain costs.
Compare the home price, rate, fees and cash needed together. A lender credit can mean a higher rate. A builder offer may come with conditions. Ask what you give up to get the offer.
Check for errors and make a plan for debts. Ask a loan professional what matters for the loan you want.
Do not open or close accounts just to try to raise your score. A single online score does not tell you whether a lender will approve your loan.
The income on a loan application may differ from your take-home pay. Self-employment, bonuses and other income can need more records.
Student loans and other monthly debts can affect how much you can borrow. Ask how the lender will count each payment.
A lower price, smaller debt load or more time to save may change your options. Get a review before making big changes.
You may need a closer review if you are self-employed, changing jobs, buying with someone else or using gift money.
A co-borrower does not fix every problem. Credit, income, debts and who will live in the home still matter.
If a program requires a homebuyer class, ask which course is approved before you pay for one.
Gather recent income records, bank statements and a list of debts. Your loan professional will tell you what else is needed.
Ask what has been checked for preapproval and what still needs review. Approval can still depend on the property and updated records.
Use a secure process for private documents. Do not put account numbers or sensitive records into a general question form.
Ask about the area, common repair issues and the buying process. Discuss services, fees and the agreement before you sign.
Choose someone who helps you weigh the costs and risks. Ask questions if you do not understand a term.
Check with your loan professional before taking on new debt, changing jobs or moving large amounts of money.
Pay bills on time. Send requested records through the approved secure process. Report changes early so they can be reviewed.
An appraisal helps the lender assess value. It does not replace a home inspection.
Review insurance, association documents, fees and any planned special assessments. Ask about inspection and financing deadlines in your contract.
For a condo, ask about both the unit and the building. The property must fit the loan's rules too.
Your contract controls deposit and cancellation rights. Review the deadlines before you sign.
For most mortgages, you must receive the Closing Disclosure at least three business days before closing. Compare it with the earlier Loan Estimate and ask about changes.
Confirm who is sending payment instructions. Call a trusted number you already have before wiring money. Do not rely on a new phone number in an email.
Save closing papers. Confirm where and when to make your loan payment. Watch for tax and insurance notices.
Ask your county property appraiser about any homestead exemption you may qualify for. Set aside money for repairs and future costs.
No. Some loans allow a smaller down payment for eligible buyers. You still need a plan for closing costs and savings.
You may. Florida Housing generally requires that you have not owned and lived in a home as your main home during the three years before you buy. Rules and exceptions may apply.
No. Repeat buyers may use FHA too. The borrower and home must meet the loan's rules.
Not always. Some help is a loan. Some debt may be forgiven only if you meet certain terms. Read the repayment rules.
Some programs require a participating lender. Ask the program who can arrange its loan before you apply.
You may qualify. The lender must review your income, credit and debts, including the payment it uses for your student loans.
Some loans allow gifts from approved sources. Ask about donor rules and the records you need before money is moved.
You can start with a budget and a loan review. Final property costs and approval will depend on the home you choose.
No. It is an educational tool. It does not check credit or approve a loan.
No. Local programs have their own boundaries, rules and funding. Use the Orlando guide to check local options.
Use the Orlando guideBring your questions, a rough budget or a quote you already have.
A personal review can help you compare loan choices, cash needed and the full payment. If a program outside Mortgage Expert is a better fit, that should be part of the conversation.
Send your contact details and a short note. This is not a full loan application. No hard credit pull is needed for an initial quote.
Keep exploring the loan choices ↑
Shahram Sondi
Florida mortgage broker · NMLS 186790
Mortgage expertise since 2001. About Shahram.
Reviewed October 15, 2026.
This guide is for education. Loan approval and program funding are not guaranteed. Rules and costs can change. Check the current terms for your loan and property.
