Find answers to common questions about Miami mortgages, from pre-approvals to VA loans and market trends. If you don't see what you need, contact our South Florida experts.
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Yes, FHA options for scores as low as 580 in Florida.
3-20%, based on loan. We identify low-down options.
Typically 60-90 days. We can refresh it if needed.
Only one hard inquiry, which impacts your score minimally (under 5 points).
Yes, but expect extra scrutiny on the building's reserves—our team handles it.
Your pre-approval locks in options; we monitor for better rates post-approval.
Yes—with rates at 6.21% and a balanced market, it's prime for savings before potential Fed shifts.
Typically 20% for conventional; less for FHA/VA streamline options.
No—you can match your original term to keep payments low.
2-5% of loan; often rolled in or offset by savings in months.
No ownership in 3 years; programs like SHIP are flexible for displaced renters.
Yes, if FHA-approved; we check building warranties upfront.
Typically 80-120% AMI ($60K-$100K for singles in Miami); varies by program.
Many are forgivable after 5-10 years of residency.
Usually 700+; we explore options for 680+ with strong reserves.
Yes, with PMI and excellent credit—common in Miami.
0.25-0.5% above conforming; shop with us for best deals.
Yes, if warrantable; our team verifies upfront.
Veterans with 90+ days service, active-duty (181 days), or eligible spouses.
Yes, if VA-approved; we check the list for you.
2.15% for first use (0% down); waivable for disabled vets.
Yes, IRRRL for rate drops—no appraisal needed.
Yes for stability; ARMs risk higher payments later.
Yes, to lower rate or change term—common in dropping markets.
620+ for best rates; we help improve scores.
15-year saves interest but higher monthly; choose based on cash flow.
Local taxes (0.97%), insurance, and HOA make estimates more accurate for South Florida—national calculators often underestimate by 20-30%.
It's an estimate based on inputs. Actual payments vary with credit, lender fees, and appraisals. Consult us for personalized quotes.
For conventional loans under 20% down, add 0.5-1% annually. VA loans have no PMI; FHA has MIP (0.55%).
Not yet—screenshot or note results. Contact us for a detailed breakdown saved to your profile.