Free guide
The same plain-language answers we give Miami families, gathered in one place: down payment, pre-qualification, closing costs, and first-time buyer programs.
It depends on the loan. Many first-time buyers put down 3 to 3.5 percent with an FHA or conventional program, and some VA and USDA buyers qualify for zero down. A larger down payment lowers your monthly payment, but you do not need 20 percent to buy. The right number comes from your pre-qualification, where we look at your income, credit, and goals together and tell you the real figure for your situation.
Pre-qualification is a quick estimate of what you may be able to borrow, based on the income, debts, and credit you share with us. Pre-approval goes further: a lender verifies your documents and issues a letter that tells sellers your financing is solid. In a competitive Miami market, a strong pre-approval letter makes your offer stand out. Because our mortgage team is in-house, we can move you from pre-qualification to a real pre-approval without sending you to a stranger at a bank.
Closing costs are the fees to finalize your loan and transfer the home: lender fees, title and settlement charges, recording fees, taxes, and prepaid items like homeowner's insurance and property taxes. In Florida these commonly run a few percent of the purchase price, but the exact amount varies by loan and price. You will receive a written Loan Estimate that lists every line, and in some cases a seller credit or a lender option can reduce what you pay at the table.
Florida offers down payment and closing cost assistance programs for eligible first-time buyers, and there are FHA, VA, USDA, and conventional low-down-payment options as well. Eligibility depends on income, the property, and the program's rules, which change over time. We review which programs you may qualify for as part of your pre-qualification and walk you through the trade-offs in your language.
Book a free consultation Send a message Buyer steps
Prefer to call? (786) 420-3292