Buying a home in Florida in 2026 comes with unique opportunities and challenges. From mortgage pre-approval and choosing the right loan program to understanding insurance, property taxes, condominium costs and South Florida housing expenses, having a clear step-by-step plan can make the process much easier.
Mortgages Done Right helps Florida homebuyers compare mortgage options from more than 25 wholesale lenders. Whether you are buying your first home, moving to a larger property, purchasing a condominium or relocating to South Florida, we can help you understand the financing before you start making offers.
Ready to start your home buying journey? Apply online or contact Mortgages Done Right to discuss your options.
How Much Home Can You Afford When Buying a Home in Florida in 2026?
Before touring homes, determine a realistic budget based on the complete monthly housing expense rather than focusing only on the purchase price.
Your housing payment may include:
- Mortgage principal and interest
- Property taxes
- Homeowners insurance
- Flood insurance when applicable
- Mortgage insurance when applicable
- Homeowners association or condominium dues
Lenders evaluate income, debts, credit, assets, loan program and other factors when determining qualification. There is no single percentage that applies to every borrower, so getting a personalized mortgage review is much more useful than relying on a general online affordability rule.
Use our Florida mortgage calculator to estimate principal and interest payments, then speak with a mortgage professional for a complete analysis that includes taxes, insurance and association costs.
Getting mortgage pre-approval in Florida is one of the best ways to understand what you may be able to afford before shopping for a home.
The 7 Steps to Buying a Home in Florida in 2026
- Review your credit and finances. Your credit profile can affect available mortgage programs, pricing and down-payment requirements. Different lenders and programs have different guidelines.
- Get pre-approved for a mortgage. A pre-approval helps establish your potential purchase range and can make your offer more credible to a seller. Start with our Florida mortgage pre-approval guide.
- Compare mortgage programs. Depending on your qualifications, options may include conventional loans, FHA loans, VA loans, jumbo financing and other specialized programs.
- Find a local real estate agent. Choose an agent experienced in the community where you want to buy, whether that is Royal Palm Beach, Wellington, Boynton Beach, Boca Raton or another South Florida market.
- Start house hunting. Compare properties within your comfortable budget while considering taxes, insurance, HOA fees, property condition and future maintenance costs.
- Make an offer and complete underwriting. Once you have an accepted contract, your lender completes underwriting and evaluates the borrower, property and supporting documentation. An appraisal may also be required.
- Review your closing documents and close. Before closing, review the final loan terms, required funds and closing documents. Once the transaction is completed, you receive the keys to your new Florida home.
What Mortgage Programs Should Florida Homebuyers Compare?
One of the biggest advantages of working with a mortgage broker is the ability to compare multiple lenders and loan programs rather than relying on the products of one bank.
Conventional Loans
Conventional mortgages can be a strong option for borrowers with traditional income documentation and qualifying credit. Several conventional programs may allow eligible buyers to purchase with less than 20% down.
FHA Loans
FHA loans in Florida may provide lower down-payment options and more flexible qualification guidelines for eligible borrowers.
VA Loans
Eligible veterans, active-duty service members and certain surviving spouses may qualify for VA financing, including the possibility of purchasing with no down payment in qualifying situations.
First-Time Homebuyer and Down-Payment Assistance Programs
Buyers who have not owned a home recently may want to compare available Florida first-time homebuyer programs and down-payment assistance options.
Jumbo Loans
Higher-priced properties may require jumbo financing. Jumbo lender guidelines can vary significantly, making lender comparison particularly important for larger mortgage transactions.
What Makes Buying a Home in Florida in 2026 Different?
South Florida homebuyers need to consider expenses and property issues that can materially affect both affordability and mortgage qualification.
Homeowners Insurance
Insurance costs can vary substantially based on location, property age, roof condition, wind mitigation features, flood exposure and the insurance carrier. Buyers should obtain insurance estimates early rather than waiting until the end of the mortgage process.
Flood Insurance
Some properties may require flood insurance depending on the flood zone, lender requirements and property characteristics. Even when flood insurance is not required, buyers may still choose to purchase coverage.
Florida Condominiums
Condominium financing can involve additional review of the association, insurance, reserves, special assessments, structural issues, rental restrictions and other project characteristics.
Buyers considering condos should review our guide to warrantable and non-warrantable condo loans in Florida.
Property Taxes and Homestead Considerations
The current owner’s property tax bill may not represent what a new buyer will pay after a sale. Buyers should estimate future property taxes as part of their affordability analysis rather than relying solely on the seller’s existing tax amount.
Buying a Home in Palm Beach County
Mortgages Done Right is based in Palm Beach County and works with buyers throughout the area. Our Palm Beach County mortgage guide provides additional local financing information.
We also provide local mortgage guidance for buyers in Boynton Beach, Boca Raton, Delray Beach, West Palm Beach, Wellington, Palm Beach Gardens and Jupiter.
Buying a Home in Broward County
Mortgages Done Right also works with buyers throughout Broward County, including buyers looking for financing in Fort Lauderdale and surrounding communities.
Property type, condominium eligibility, insurance, purchase price and borrower qualifications can all affect which lender and loan program provide the best fit.
How Much Money Do You Need to Buy a Home in Florida?
Your required cash depends on more than the down payment. Homebuyers may also need funds for:
- Closing costs
- Prepaid taxes and insurance
- Home inspection
- Appraisal when required
- Homeowners insurance
- Flood insurance when applicable
- Association-related costs
- Reserves after closing
Some transactions may allow seller credits, lender credits or down-payment assistance, depending on the loan program and transaction structure.
Should You Get Pre-Approved Before Looking at Homes?
Yes. Getting pre-approved before serious house hunting can help you understand the loan amount, down payment and monthly payment you may qualify for.
It can also identify credit, income, documentation or asset issues early enough to address them before you find a property.
When buying a home in Florida in 2026, early pre-approval is especially useful because insurance, taxes, association fees and property type can significantly affect the final monthly payment.
When Should You Talk to a Mortgage Broker?
The best time to speak with a mortgage broker is before you start seriously shopping for homes.
A mortgage broker can help you:
- Understand your realistic purchase range
- Compare multiple lenders
- Compare FHA, VA and conventional financing
- Review first-time homebuyer options
- Evaluate down-payment choices
- Estimate monthly payments
- Identify documentation issues early
- Understand how insurance and HOA expenses affect qualification
Mortgages Done Right has more than 30 years of mortgage experience, more than $1 billion in loans closed and access to more than 25 wholesale lenders.
Frequently Asked Questions About Buying a Home in Florida in 2026
Do I need 20% down to buy a home in Florida?
No. Several mortgage programs may allow eligible borrowers to purchase with substantially less than 20% down. The appropriate option depends on the borrower, property and program requirements.
What credit score do I need to buy a home?
Credit requirements vary by lender and loan program. A stronger credit profile can improve available financing options and pricing, but buyers should have their complete financial profile reviewed rather than relying on a single general score requirement.
Can first-time buyers receive down-payment assistance?
Potentially. Florida offers various assistance programs with different income, property, purchase-price and borrower requirements. Review our Florida down-payment assistance guide for additional information.
How early should I get mortgage pre-approval?
Ideally, before you begin serious house hunting. Early pre-approval can establish a realistic price range and identify potential financing issues before you make an offer.
Should I use a bank or mortgage broker?
Both can provide mortgage financing, but a mortgage broker can compare programs from multiple lending sources. Read our mortgage broker vs. bank comparison for more information.
Start Your Florida Home Buying Plan
Buying a home in Florida in 2026 is easier when you understand the financing before you start shopping. The right mortgage strategy should consider the purchase price, monthly payment, insurance, taxes, HOA costs, available cash and your long-term financial goals.
Greg Hayden and Mortgages Done Right can help compare mortgage options from more than 25 wholesale lenders and explain the differences between available programs.
Ready to take the next step? Call 561-777-7622, contact Mortgages Done Right, or apply online.
Mortgage programs, rates, down-payment requirements, credit guidelines, insurance costs and qualification standards vary and are subject to change. This information is for general educational purposes and is not a commitment to lend.