Loan Programs

Florida Mortgage Programs for Every Buyer

FHA, VA, Conventional, Jumbo, Investment, and Refinance. Al finds the right loan for your goals - not the easiest one to sell.

All Programs

Six Programs, One Originator

Al's access to NEXA Mortgage's wholesale lender network means these programs come with competitive pricing you typically cannot find at a retail bank.

FHA As Low As 3.5% Down

FHA Loans

Government-backed loans insured by the Federal Housing Administration. FHA loans offer the most accessible path to homeownership for first-time buyers and those rebuilding credit - with lower down payment requirements and more flexible qualifying criteria than conventional financing.

Minimum Down Payment 3.5% (with 580+ credit)
Minimum Credit Score 500 (10% down) / 580 (3.5% down)
Loan Limit (2026 FL) Up to $524,225 (most FL counties)
Mortgage Insurance Required (upfront + annual MIP)
Eligibility: Primary residence only. Property must meet FHA minimum standards. Income limits do not apply.
VA 0% Down for Veterans

VA Loans

Exclusively for eligible veterans, active-duty service members, and qualifying surviving spouses. VA loans require zero down payment and no private mortgage insurance - making them the most powerful mortgage benefit in the US for those who qualify.

Minimum Down Payment 0% for eligible veterans
Private Mortgage Insurance Not required
Loan Limit No limit with full entitlement
Funding Fee Applies (waived for disabled vets)
Eligibility: Active duty, veterans, National Guard/Reserves with qualifying service. Certificate of Eligibility required.
Conventional Best Rates for Strong Credit

Conventional Loans

The most widely used loan type for buyers with solid credit and stable income. Conventional loans offer competitive rates, flexible term options, and the ability to eliminate mortgage insurance once you reach 20% equity - something FHA loans do not allow.

Minimum Down Payment 3% - 20%+
Typical Credit Score 620+ (best rates at 740+)
Loan Limit (2026) Up to $766,550 (conforming)
PMI Required below 20% down - cancellable
Eligibility: Primary, secondary, or investment property. Not government-insured. Debt-to-income limits apply.
Jumbo Luxury and High-Value Homes

Jumbo Loans

For home purchases that exceed conforming loan limits, jumbo financing offers a personalized approach to high-value properties. Florida's luxury real estate markets - from the Orlando metro to coastal communities - frequently require jumbo solutions.

Loan Minimum Above $766,550 (conforming limit)
Typical Down Payment 10% - 20%+
Credit Score 700+ typically required
Rate Type Fixed and ARM options available
Eligibility: Strong credit, verifiable income, and reserves required. Property appraisal standards are stricter than conforming.
Investment / DSCR Qualify on Rental Income

Investment / DSCR Loans

DSCR (Debt Service Coverage Ratio) loans are purpose-built for real estate investors. Instead of qualifying on personal income, the loan qualifies based on the property's rental income versus its debt service. Perfect for self-employed investors and portfolio builders in Florida's strong rental markets.

Qualification Method Property rental income
Minimum Down Payment 20% - 25%
Property Types 1-4 units, condos, STRs
Tax Returns Required Not required for DSCR
Eligibility: Investment properties only. Minimum DSCR of 1.0-1.25 typically required. Strong credit preferred.
Refinance Rate, Term, or Cash-Out

Refinancing

A refinance can serve several goals: lowering your interest rate, shortening your loan term, or accessing equity you have built. Al provides a clear break-even analysis so you understand exactly when a refinance makes financial sense before you commit to anything.

Rate-and-Term Lower rate or adjust term
Cash-Out Access up to 80% LTV (conventional)
FHA Streamline Reduced docs for existing FHA
VA IRRRL Rate reduction for existing VA loans
Eligibility: Existing homeowners with sufficient equity. Appraisal may be required. Break-even analysis provided upfront.
Quick Comparison

Program Overview at a Glance

Not sure which program fits your situation? This table gives you the key metrics side by side. Al will help you confirm which direction makes the most sense.

Loan Type Min. Down Min. Credit PMI/MIP Best For
FHA 3.5% 500 - 580 Required First-time buyers, credit rebuilders
VA 0% No official min. Not required Veterans, active duty, surviving spouses
Conventional 3% - 20% 620+ Cancellable Strong credit, move-up buyers
Jumbo 10% - 20% 700+ Varies High-value and luxury properties
DSCR / Investment 20% - 25% 680+ Varies Rental properties, portfolio investors
Refinance N/A Based on program Based on program Rate reduction, equity access, term change

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No hard credit pull, no commitment. Al will review your situation and come back with real numbers based on your specific file.

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