Mortgage broker · Florida
Florida mortgages, explained by someone who lives here.
Insurance costs, condo rules, homestead changes and closing taxes all shape a Florida loan. Alexandro lives in Florida and works with buyers, homeowners and investors across the state — comparing options across a network of lenders.
About a minute. No credit check. No obligation.
Florida financing
How Alexandro helps Florida borrowers
Pick the closest match. The strategy call is where the details get sorted out.
Buying in Florida
Insurance
Price the insurance before you price the house.
In Florida, homeowners insurance can be one of the biggest pieces of the monthly housing expense — and lenders count it when they review what you can afford or whether a rental’s income covers its costs.
- Get an insurance quote early in the search, not after you’re under contract. Roof age, construction, wind mitigation features and location can move the premium a lot.
- If the property is in a special flood hazard area, flood insurance is generally required for a federally backed mortgage — and it’s worth pricing even where it isn’t required.
- Citizens Property Insurance Corporation is Florida’s state-created insurer for owners who can’t find coverage in the private market. Eligibility rules apply.
- For DSCR and other rental loans, a higher premium lowers the property’s ratio. Run the numbers with a real quote — the DSCR calculator on the rental loan page can help.
Condos
Buying a Florida condo? Look at the building, not just the unit.
Since 2022, Florida law requires inspections and reserve studies for many condominium buildings. A building’s status can affect the association’s budget, special assessments and whether some lenders will finance a unit.
- Milestone inspections: generally required when a building reaches 30 years old — or 25 where the local building official requires it based on local conditions such as coastal proximity.
- Structural integrity reserve studies (SIRS): required at least every 10 years for buildings with three or more habitable stories.
- For association budgets adopted on or after December 31, 2024, owners can’t vote to waive or reduce required structural reserves — which can mean higher dues or special assessments.
- Before you commit, ask for the milestone inspection report, the SIRS, the current budget and any planned assessments. Some lenders review the same documents when they evaluate the condo project.
Condo rules have changed several times since 2022. Confirm current requirements with the association, your real estate agent and a Florida attorney.
Property taxes
Homestead and Amendment 3: what changes, and when.
Florida voters approved Amendment 3 on November 3, 2026. It expands the homestead exemption for a primary residence, phased in over the next two tax years.
- For non-school property taxes, the homestead exemption rises to $150,000 beginning with the 2027 tax roll and to $250,000 in 2028, then adjusts for inflation.
- School taxes are not part of the increase — a $25,000 homestead exemption continues to apply to school levies.
- New Florida residents after January 1, 2027 must be residents for five years before receiving the full expanded exemption, unless their county or city shortens that period by a two-thirds vote.
- Investors: for non-homestead property such as rentals, the annual assessment increase cap for non-school levies drops from 10% to 5% starting in 2027.
- When you buy, the property is generally reassessed — so the seller’s tax bill is not a reliable estimate of yours. Escrow is based on your expected taxes, not theirs.
How the amendment is implemented will depend on legislation and your county property appraiser. This is a summary, not tax advice.
Closing costs
Florida’s closing taxes on deeds and mortgages.
Florida charges taxes when a deed or a new mortgage is recorded. Your closing agent calculates them, but it helps to know they’re coming.
- Documentary stamp tax on deeds: $0.70 per $100 of the price.
- Documentary stamp tax on a new mortgage note: $0.35 per $100 of the loan amount.
- Nonrecurring intangible tax on a new mortgage: $0.20 per $100 of the loan amount (0.2%).
- Example: on a $300,000 new mortgage, those two mortgage taxes come to about $1,050 and $600. Who pays which tax, and whether any can be negotiated, depends on the contract and the transaction.
First-time buyers
Florida Hometown Heroes and other buyer assistance.
Florida Housing Finance Corporation offers down payment and closing cost help to some first-time buyers. These programs are available only through participating lenders and have income, price and occupation rules.
- Hometown Heroes is for first-time, income-qualified buyers who work full time for a Florida-based employer in eligible fields — such as health care, education, first responders, child care and the military — and some veterans.
- Assistance can be up to 5% of the first mortgage amount (minimum $10,000, maximum $35,000) as a deferred second mortgage. It is not forgiven: it’s repaid when you sell, refinance, transfer the deed or stop living in the home.
- Funding is released in rounds and can run out. Ask early whether it’s currently available.
- Alexandro can tell you whether a state program is an option he can offer for your situation — and if it isn’t, he’ll say so plainly.
Florida
Common Florida situations
A few of the conversations that come up most often in Florida.
Rentals and DSCR loans
Tapping home equity
Exiting hard money
Self-employed buyers
Condo buyers
Relocating to Florida
FAQ
Florida mortgage questions
Straight answers in plain English. For anything specific to you, Alexandro can walk through it.
Does Alexandro work with borrowers across Florida?
Yes. Alexandro lives in Florida and is licensed here, so he can help with properties anywhere in the state. Most of the process happens by phone, video and secure document upload.
Can I get a HELOC on my homesteaded Florida home?
Homestead status doesn’t by itself prevent a HELOC or a cash-out refinance on your primary residence. Lenders look at your equity, credit, income and the property. Compare a HELOC, a home equity loan and a cash-out refinance before choosing.
Will Amendment 3 lower my mortgage payment?
If your loan has an escrow account, lower property taxes on your homestead would eventually reduce the escrow portion of your payment once your servicer re-analyzes the account after new tax bills. The increases begin with the 2027 tax roll. Principal and interest don’t change.
Do I need flood insurance in Florida?
If the home is in a special flood hazard area and the loan is federally backed, flood insurance is generally required. Outside those areas it may be optional, but many Florida owners carry it anyway. Get a quote before you make an offer.
Can I finance a condo in a building that hasn’t finished its inspections or reserve study?
It depends on the lender and the project. Some lenders review the association’s inspection status, reserves and planned assessments before approving a condo loan. Ask for the documents early so there are no surprises.
Can I use a DSCR loan on a Florida short-term rental?
Some lenders consider short-term rental income and others don’t. Local rules for short-term rentals also vary by city, county and condo association, so check those before you buy.
Guides worth reading first
- Home equity
How Much Equity Can I Borrow With a HELOC?
A HELOC is usually capped at a percentage of your home’s value, minus what you still owe — and then adjusted for your credit, income and the property itself. Here’s how that math works and where it stops.
Read the guide · 4 min - Home equity
HELOC vs. Cash-Out Refinance: Which Makes More Sense?
Both let you turn home equity into cash, but they work very differently. The biggest question is usually what happens to the first mortgage you already have.
Read the guide · 4 min - Self-employed
How to Qualify for a Mortgage When You’re Self-Employed
Self-employed borrowers can qualify for mortgages, but lenders look at income differently than they do for a W-2 employee. Knowing what they review — and preparing early — makes the process far smoother.
Read the guide · 3 min
State tax and program details are summarized from the public sources below and were last checked November 5, 2026. Rules, limits and funding change — your closing agent, county and the program administrator have the final word. This page is educational, is not tax or legal advice, and is not a commitment to lend.
- Florida Housing — Hometown Heroes Program
- Florida Dept. of Revenue — Documentary stamp tax on notes (TIP 24B04-01)
- Sarasota County Clerk — Recording fees and taxes
- Florida Chamber — 2026 Amendment 3 summary
- Rimkus — Florida structural integrity reserve studies
Alexandro De La Rosa, NMLS #2701946 · West Capital Lending, NMLS #1566096
Also licensed in: Virginia · Missouri · all licensed states
Loan programs, terms, availability, and eligibility vary by state, lender, property, and borrower profile. Not every program is available in every state. Licensing information.
Loan options in Florida
- HELOC & home equityAccess equity while keeping your first mortgage.
- Cash-out & rate-and-term refinanceSee whether refinancing actually helps.
- Hard-money refinancePlan the exit from short-term investor debt.
- DSCR & rental property loansFinancing based on the property’s rental income.
- Purchase & preapprovalGet ready to make a strong offer.
- Self-employed & nontraditional incomeWhen your income doesn’t fit a W-2 box.
Tell Alexandro about your Florida property.
Buying, refinancing, tapping equity or financing a rental — share the basics and your timing, and he’ll follow up personally.