Florida Mortgage Rates

September 1, 2015 08:18 PM Eastern

Refinance rates now in MIAMI BEACH, FL [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.500%
APR
3.660%
Monthly Payment
$898
Smartmortgage.com
30 Year Fixed
Interest Rate
3.500%
APR
3.660%
Monthly Payment
$898
(866) 534-0536 Contact
Smartmortgage.com
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $898
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $898
Lender Fees $3,926
Lender Credit $0
Total Closing Fees* $3,926
*Other 3rd party fees may apply
Smartmortgage.com
Email Lender

About the Lender

We are a true direct lender which means we service our own loans and manage your entire experience from beginning to end. We are not a call center which means you will work with one of our licensed loan officers with an average of 10+ years of experience. We provide an innovation based mortgage process to deliver unparalleled customer service. Go beyond the sea of mortgage quotes and ask for your detailed, interactive report with options you may not have heard of including zero PMI with less than 20% down. We encourage our clients to consider their options carefully and help to ensure you select the right product for your financial future.- Mortgage Banker with an A+ Rating from the Better Business Bureau- A division of Cornerstone Mortgage, Inc., in business since 1995- Conventional, HARP, FHA, VA, USDA and Jumbo/Super Jumbo loans- On time closing guarantee in as little as 14 days from application- 5 star service guarantee- Daily updates for all clients in process- Exclusive tools for purchase clients- 203k FHA renovation financing
Smartmortgage.com
Email Lender Write a Review

Lender Reviews

Used Mark Carrico for my loan. Highly Recommend!!

Yes, I recommend this lender

A top notch experience. Pre-approval was super fast and painless. I had a few items on my credit report I had to take care of. Mark called me and walked through the items I needed to fix and how to fix them. His knowledge of the home buying process and mortgage industry is phenominal. Very easy to contact with any questions and always has the answers. The entire process from pre-approval to closing was so easy! If you are looking for a good, reputible, reliable, easy to work with lender. You have to contact Mark. He is quite simply the best. I tell everyone I can about him. You know you have a good lender when both your real estate agent and the title company comment how easy the lender was to work with.

By: JayC (Olathe, KS 66062)

A Trusted & Valued Strategic Partner

Yes, I recommend this lender

From the beginning of 2014 Mark Anderson and the Cornerstone Mortgage team have assisted three of my buyer clients to secure the loans needed to purchase new homes. Each of these clients had specific goals and specific needs in purchasing their respective homes. Cornerstone and Mark's team were able to work with each buyer and meet those needs and goals. Consistent and open communication, good listening and planning, and attention to detail are all factors that set Mark and the Cornerstone team apart form the competition. I look forward to working with Mark for a long time and know that when I refer my clients to his team and Cornerstone, that they are always in great hands.

By: SWCirca (St. Louis MO.)

A++

Yes, I recommend this lender

Working with Mark Anderson is a great experience. As a first time buyer just starting to explore purchasing my first home Mark took the time to educate me and guide me through various financing options, carefully explaining the pro's and cons of each. His communication is fast and honest. I highly recommend Smart Mortgage, and in particular Mark Anderson, for your lending needs.

By: IA02 (St Louis, MO)
See All Reviews
Sebonic Financial
30 Year Fixed
Interest Rate
3.625%
APR
3.741%
Monthly Payment
$913
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $913
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $913
Lender Fees $2,826
Lender Credit $0
Total Closing Fees* $2,826
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)

purchase of 1st home

Yes, I recommend this lender

Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

By: Michael (Baltimore, MD)

Amazing company to work with, I will miss them.

Yes, I recommend this lender

Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

By: Ronda (Wooster, OH)
See All Reviews

15 Year Fixed

Interest Rate
2.750%
APR
2.913%
Monthly Payment
$1,358
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.913%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,260
Lender Credit $0
Total Closing Fees* $2,260
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
Smartmortgage.com
15 Year Fixed
Interest Rate
2.750%
APR
3.028%
Monthly Payment
$1,357
(866) 534-0536 Contact
Smartmortgage.com
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,357
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,357
Lender Fees $3,842
Lender Credit $0
Total Closing Fees* $3,842
*Other 3rd party fees may apply
Smartmortgage.com
Email Lender

About the Lender

We are a true direct lender which means we service our own loans and manage your entire experience from beginning to end. We are not a call center which means you will work with one of our licensed loan officers with an average of 10+ years of experience. We provide an innovation based mortgage process to deliver unparalleled customer service. Go beyond the sea of mortgage quotes and ask for your detailed, interactive report with options you may not have heard of including zero PMI with less than 20% down. We encourage our clients to consider their options carefully and help to ensure you select the right product for your financial future.- Mortgage Banker with an A+ Rating from the Better Business Bureau- A division of Cornerstone Mortgage, Inc., in business since 1995- Conventional, HARP, FHA, VA, USDA and Jumbo/Super Jumbo loans- On time closing guarantee in as little as 14 days from application- 5 star service guarantee- Daily updates for all clients in process- Exclusive tools for purchase clients- 203k FHA renovation financing
Smartmortgage.com
Email Lender Write a Review

Lender Reviews

Used Mark Carrico for my loan. Highly Recommend!!

Yes, I recommend this lender

A top notch experience. Pre-approval was super fast and painless. I had a few items on my credit report I had to take care of. Mark called me and walked through the items I needed to fix and how to fix them. His knowledge of the home buying process and mortgage industry is phenominal. Very easy to contact with any questions and always has the answers. The entire process from pre-approval to closing was so easy! If you are looking for a good, reputible, reliable, easy to work with lender. You have to contact Mark. He is quite simply the best. I tell everyone I can about him. You know you have a good lender when both your real estate agent and the title company comment how easy the lender was to work with.

By: JayC (Olathe, KS 66062)

A Trusted & Valued Strategic Partner

Yes, I recommend this lender

From the beginning of 2014 Mark Anderson and the Cornerstone Mortgage team have assisted three of my buyer clients to secure the loans needed to purchase new homes. Each of these clients had specific goals and specific needs in purchasing their respective homes. Cornerstone and Mark's team were able to work with each buyer and meet those needs and goals. Consistent and open communication, good listening and planning, and attention to detail are all factors that set Mark and the Cornerstone team apart form the competition. I look forward to working with Mark for a long time and know that when I refer my clients to his team and Cornerstone, that they are always in great hands.

By: SWCirca (St. Louis MO.)

A++

Yes, I recommend this lender

Working with Mark Anderson is a great experience. As a first time buyer just starting to explore purchasing my first home Mark took the time to educate me and guide me through various financing options, carefully explaining the pro's and cons of each. His communication is fast and honest. I highly recommend Smart Mortgage, and in particular Mark Anderson, for your lending needs.

By: IA02 (St Louis, MO)
See All Reviews

5/1 ARM

Interest Rate
2.250%
APR
2.386%
Monthly Payment
$764
Smartmortgage.com
5/1 ARM
Interest Rate
2.250%
APR
2.386%
Monthly Payment
$764
(866) 534-0536 Contact
Smartmortgage.com
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $764
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $764
Lender Fees $3,596
Lender Credit $0
Total Closing Fees* $3,596
*Other 3rd party fees may apply
Smartmortgage.com
Email Lender

About the Lender

We are a true direct lender which means we service our own loans and manage your entire experience from beginning to end. We are not a call center which means you will work with one of our licensed loan officers with an average of 10+ years of experience. We provide an innovation based mortgage process to deliver unparalleled customer service. Go beyond the sea of mortgage quotes and ask for your detailed, interactive report with options you may not have heard of including zero PMI with less than 20% down. We encourage our clients to consider their options carefully and help to ensure you select the right product for your financial future.- Mortgage Banker with an A+ Rating from the Better Business Bureau- A division of Cornerstone Mortgage, Inc., in business since 1995- Conventional, HARP, FHA, VA, USDA and Jumbo/Super Jumbo loans- On time closing guarantee in as little as 14 days from application- 5 star service guarantee- Daily updates for all clients in process- Exclusive tools for purchase clients- 203k FHA renovation financing
Smartmortgage.com
Email Lender Write a Review

Lender Reviews

Used Mark Carrico for my loan. Highly Recommend!!

Yes, I recommend this lender

A top notch experience. Pre-approval was super fast and painless. I had a few items on my credit report I had to take care of. Mark called me and walked through the items I needed to fix and how to fix them. His knowledge of the home buying process and mortgage industry is phenominal. Very easy to contact with any questions and always has the answers. The entire process from pre-approval to closing was so easy! If you are looking for a good, reputible, reliable, easy to work with lender. You have to contact Mark. He is quite simply the best. I tell everyone I can about him. You know you have a good lender when both your real estate agent and the title company comment how easy the lender was to work with.

By: JayC (Olathe, KS 66062)

A Trusted & Valued Strategic Partner

Yes, I recommend this lender

From the beginning of 2014 Mark Anderson and the Cornerstone Mortgage team have assisted three of my buyer clients to secure the loans needed to purchase new homes. Each of these clients had specific goals and specific needs in purchasing their respective homes. Cornerstone and Mark's team were able to work with each buyer and meet those needs and goals. Consistent and open communication, good listening and planning, and attention to detail are all factors that set Mark and the Cornerstone team apart form the competition. I look forward to working with Mark for a long time and know that when I refer my clients to his team and Cornerstone, that they are always in great hands.

By: SWCirca (St. Louis MO.)

A++

Yes, I recommend this lender

Working with Mark Anderson is a great experience. As a first time buyer just starting to explore purchasing my first home Mark took the time to educate me and guide me through various financing options, carefully explaining the pro's and cons of each. His communication is fast and honest. I highly recommend Smart Mortgage, and in particular Mark Anderson, for your lending needs.

By: IA02 (St Louis, MO)
See All Reviews
Sebonic Financial
5/1 ARM
Interest Rate
2.625%
APR
3.055%
Monthly Payment
$804
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,487
Lender Credit $0
Total Closing Fees* $2,487
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)

purchase of 1st home

Yes, I recommend this lender

Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

By: Michael (Baltimore, MD)

Amazing company to work with, I will miss them.

Yes, I recommend this lender

Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

By: Ronda (Wooster, OH)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

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Florida Mortgage Rates and Loan Options

Florida provides numerous mortgage options and attractive mortgage rate opportunities for those looking to make their home in the country's southeastern region.

From the panhandle to the shores of Miami and Key West, the laid back lifestyle of the Sunshine State has long attracted those in search of a coastal lifestyle. Floridians have convenient access to the Atlantic Ocean and the warmer Gulf of Mexico, both popular destinations for homeowners.

Whether you choose to live in a condo in the colorful city of Miami or a beach cottage in the resort town of Panama City, Florida has many loan programs and mortgage interest rate options to match.

Special Florida Loan Programs and FL Mortgage Interest Rates

The Homeownership Pool (HOP) Program offers funds for eligible homebuyers whose adjusted income does not exceed 80 percent of the median income and who purchase a home from pool member developers.  The program allows buyers to receive a zero percent deferred second mortgage loan that can be used to meet the first lender's down payment requirements.

The Florida Housing Finance Corporation administers a program called the State Housing Initiatives Partnership (SHIP). Funds are disbursed through the local governments and passed on to individual homeowners in the very low and low-to-moderate income tracts. Money for this program can be used to purchase new homes or refinancing existing loans in the following categories:

  • emergency repairs
  • new construction and rehabilitation
  • down payment and closing cost assistance
  • mortgage buy-downs

Mobile and Manufactured Homes in Florida: Mortgage Rates and Financial Assistance

Florida is a state with many mobile and manufactured home communities.  Various cities offer support programs and education resources for buyers wishing to purchase this type of housing. Programs include down payment assistance, money for repairs or rehabilitation, and dealer incentives. Mobile and manufactured home owners can also apply for low FL mortgage interest rates.

VA and USDA Loans and Current Florida Mortgage Rates

Using a loan program from the VA or USDA, borrowers can get up to 100 percent financing, allowing them to buy without a down payment. While high leverage loans typically come with higher interest rates, the VA and USDA make loans through their conventional lender partners at or below market interest rates. This means that VA and USDA loans boast some of the lowest current FL mortgage rates. To qualify, you must meet certain criteria defined by the lending institution as well as the VA or USDA.