Home Loans in Florida
From the Gulf Coast to the Atlantic, NorthStar Funding helps Floridians find their place in the Sunshine State. All credit scores welcome — even no score.
Florida Housing Market
About the Florida Real Estate Market
Florida's real estate market offers something for everyone — from Miami's luxury high-rises to Orlando's family-friendly suburbs, Tampa Bay's waterfront communities, and Jacksonville's affordable neighborhoods. The Sunshine State continues to attract buyers seeking warm weather, no state income tax, and diverse lifestyle options. While the market has normalized from pandemic highs, Florida remains a desirable destination for primary residences, second homes, and investment properties. NorthStar Funding's Florida expertise helps you navigate condo requirements, flood considerations, and the state's unique lending landscape.
Loan Programs Available in Florida
We offer a variety of mortgage options to fit your unique situation. All programs welcome borrowers with less-than-perfect credit.
Florida Hometown Heroes
Up to $35,000 in down payment assistance for Florida's essential workers and first responders.
FHA Loans
Ideal for Florida's diverse buyer population with flexible credit requirements.
Condo Financing
Specialized condo loans for Florida's high-rise and beachfront properties.
Investment Property
Finance your Florida vacation rental or investment property with competitive rates.
Check Your Eligibility
See if you qualify for special loan programs with lower down payments and flexible income requirements.
Income Eligibility Checker
HomeReady® & Home Possible® - 3% Down Payment Programs
HomeReady®by Fannie MaeIncome must be ≤80% of Area Median Income (AMI). No geographic restrictions.
Home Possible®by Freddie MacIncome must be ≤80% AMI. Some census tracts have no income limit.
Quick Comparison:
| Feature | HomeReady® | Home Possible® |
|---|---|---|
| Min. Down Payment | 3% | 3% |
| Min. Credit Score | 620 | 620 |
| Income Limit | ≤80% AMI | ≤80% AMI* |
| Homebuyer Education | Required | Required |
*No income limit in designated underserved areas
Why Choose NorthStar Funding in Florida?
What Florida Homeowners Say
"NorthStar navigated Miami's complex condo requirements perfectly. They knew exactly which buildings would qualify and made the process smooth."
Sofia R.
"Bought our Lake Nona home with NorthStar. Great schools and growing area! They helped us understand Florida's unique insurance requirements."
The Thompson Family
"Found our dream home in South Tampa with NorthStar's help. Their knowledge of waterfront properties and flood zones was invaluable."
Chris & Amanda B.
"As a first-time buyer, NorthStar helped me qualify for the Hometown Heroes program. Got $25K in assistance as a teacher!"
Jennifer M.
Frequently Asked Questions
What credit score do I need to buy a home in Florida?
NorthStar Funding welcomes all credit scores in Florida, starting as low as 500 with FHA loans (10% down). For scores 580+, you may qualify for just 3.5% down. We also offer manual underwriting for borrowers with no credit score.
What are the best mortgage programs available in Florida?
In Florida, we offer FHA loans, VA loans (0% down), USDA loans for eligible rural areas, conventional loans, jumbo/non-QM loans, and bank statement loans. Florida Housing programs provide down payment assistance.
How much is the average home price in Florida?
The median home price in Florida is approximately $400K. Miami and coastal areas tend to be higher, while Central Florida and the Panhandle offer more affordable options for families.
Are there first-time homebuyer programs in Florida?
Yes! Florida Housing offers several programs including the Florida Assist with up to $10,000 in down payment assistance as a deferred second mortgage. The Hometown Heroes program offers up to 5% for community workers.
What are property taxes like in Florida?
Florida property taxes average approximately 0.86% of assessed value. The Homestead Exemption can reduce your taxable value by up to $50,000 for primary residences, providing significant savings.
Do I need flood insurance in Florida?
If your property is in a FEMA-designated flood zone and you have a federally-backed mortgage, flood insurance is required. Even outside flood zones, it is strongly recommended in Florida. We factor insurance costs into your qualification.
How long does it take to close on a home in Florida?
The typical closing timeline in Florida is 30-45 days. Florida is a title insurance state, and closings are handled by title companies. Having a pre-qualification letter helps in competitive markets.
Does NorthStar Funding offer manual underwriting in Florida?
Yes! We specialize in manual underwriting for Florida borrowers. This is ideal for retirees, seasonal workers, and borrowers with non-traditional income sources common in Florida.
What documents do I need to apply for a mortgage in Florida?
Typical documents include 2 years of tax returns, recent pay stubs, bank statements, W-2s or 1099s, and ID. Self-employed borrowers can use our bank statement programs with 12-24 months of deposits.
Can self-employed borrowers get a mortgage in Florida?
Absolutely! Our bank statement programs are very popular in Florida, especially in Miami, Tampa, and Orlando where many borrowers are entrepreneurs, real estate investors, or gig workers.
NorthStar Funding Licensing Information
NMLS #: 123456
Licensed in: FL-MBR
Years in Business: 15+
Total Loans Originated: $2B+
Ready to Get Started?
See your options in minutes with no impact to your credit score. Our team is ready to help you find the right loan for your Florida home.