Best mortgage lenders in Florida in 2024
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If you’re hoping to buy a home in The Sunshine State, comparing mortgage lenders in Florida is key. Here are some of the best lenders in the state that have earned high marks from Bankrate and positive feedback from borrowers:
Best mortgage lenders in Florida
| Lender | Credit requirements | Down payment minimum | Bankrate Score |
|---|---|---|---|
| Veterans United Home Loans | 620 for conventional and VA loans | 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans | 4.9 |
| Bethpage Federal Credit Union | 620 for conventional loans, 500 for FHA loans | 3% for conventional loans, 3.5% for FHA loans | 4.9 |
| Wells Fargo | 620 for conventional loans | 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans | 4.8 |
| First Mortgage Direct | 620 for conventional loans, 580 for FHA and VA loans | 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans | 4.8 |
| New American Funding | 620 for conventional loans | 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans | 4.8 |
Veterans United Home Loans
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- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, USDA
- Credit requirements: 620 for conventional and VA loans
- Down payment minimum: 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans
- Where to find: Branch locations and online
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Bethpage Federal Credit Union
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- Availability: All U.S. states except Texas
- Loans offered: Conventional, jumbo, FHA
- Credit requirements: 620 for conventional loans, 500 for FHA loans
- Down payment minimum: 3% for conventional loans, 3.5% for FHA loans
- Where to find: Branch locations and online
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Wells Fargo
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- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, USDA
- Credit requirements: 620 for conventional loans
- Down payment minimum: 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans
- Where to find: Branch locations and online
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First Mortgage Direct
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- Availability: All U.S. states
- Loans offered: Conventional, jumbo, FHA, VA, USDA
- Credit requirements: 620 for conventional loans, 580 for FHA loans and VA loans
- Down payment minimum: 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans
- Where to find: Online
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New American Funding
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- Availability: All U.S. states except Hawaii and New York
- Loans offered: Conventional, jumbo, FHA, VA, USDA
- Credit requirements: 620 for conventional loans
- Down payment minimum: 3% for conventional loans, 3.5% for FHA loans, none for VA and USDA loans
- Where to find: Branch locations and online
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How to find the best mortgage lender in Florida
While the best mortgage lender ultimately depends on individual circumstances and what feels “right” to you, it’s helpful to narrow down your options. Here are some tips:
- Set your priorities. Do you want to talk to a loan officer in person? Do you need a faster closing? Want to apply for and track your mortgage status through an app? Consider these and other questions as you come up with your short list of lenders.
- Get prequalified or preapproved. If you haven’t determined a homebuying budget, get prequalified for a mortgage first. This can help you understand how much a lender might allow you to borrow based on some preliminary financial information. If you’re ready to shop for homes, skip the prequalification and ask for a preapproval, which involves a credit check.
- Ask about first-time buyer and down payment assistance. Many mortgage lenders in Florida work with the state’s housing finance agency to connect eligible borrowers with more affordable mortgages and down payment help. Some programs are available to both first-time and repeat buyers, too. Compare what different lenders offer and how that might impact your budget.
Florida conforming loan limits
Depending on the type of loan you use to purchase your home, it might be subject to conforming loan limits:
- Conventional loan: $766,550 in most counties
- FHA loan: $498,257 in most counties
Check out Bankrate’s county-by-county listing of conforming loan limits in Florida to see what applies to you.
Florida first-time homebuyer programs
Buying your first home can be especially daunting, but you might be able to qualify for some extra help to ease your worries from Florida Housing, the state’s housing finance authority. The organization works with lenders to offer a range of programs that can help you lock in competitive rates on 30-year loans, pay less for mortgage insurance and get access to cash to cover down payment and closing costs.
To take advantage of any of Florida Housing’s offerings, you’ll need to meet income and purchase price requirements and complete a homebuyer education course. Learn more about Florida first-time homebuyer programs.
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To determine the best mortgage lenders by state, Bankrate evaluated lenders based on affordability, availability and borrower experience. The best lenders generally have a Bankrate Score of 4.8 or higher. Learn more about our methodology.
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