5 Best Mortgage Lenders in Florida for 2022 [Compare + Review]

Hey Sunshine,

Get to know the 5 best mortgage lenders in Florida, compare offers, APR, APY, pros and cons, which mortgage lender is ideal for first-time buyers, and credit score report required in 2022.

If you want to buy a home in Florida and are unsure where to get a home loan, let Mount Shine help you make the decision. Find the best Mortgage Lenders In Florida; our research will help you know everything about them.

Compare 5 Best Florida Mortgage Lenders of 2022

Compare the 5 best Florida Mortgage Lenders and decide which one suits you best. Understand the overall process, learn how to apply and choose the best mortgage lenders in Florida, and what are Florida homebuyer programs in 2022:

  1. Quicken Loans: Best For First-Time Home Buyers
  2. New American Funding: Best For Borrowers with Bad Credit
  3. Rocket Mortgage: Best for online lending
  4. SunTrust: Best for first-time home buyers
  5. PNC Bank: Best for low-down payment

1. Quicken Loans: Best For First-Time Home Buyers

Minimum Credit Score Required: 620

Minimum Down Payment: 3%

Quicken Loans
Quicken Loans

Quicken loans is an online platform now eclipsed by Rocket Mortgage, which offers you a variety of loan options. In 2021, It became one of the best mortgage lenders in Florida for FHA loans. It is best for those planning to buy a home for the first time.

It allows fixed or adjustable rate mortgages, jumbo loans and mortgage refinancing. Whenever you apply online on Quicken Loans, you will be directly ported to the Rocket Mortgage site because Rocket Mortgage is the one who is officially now handling the clients. It has been one of the best sites for home loans as it gives you a variety of loan types with rate transparency and is super easy on applications.

While talking about the rates and fees, it might be a little expensive, but the services they are offering justify their rates.

You can apply for a mortgage via phone call or online medium and can get started with your loan procedure.

Pros:

  • For customers who prefer online services and customer support when needed, Quicken Loans is the ideal choice.
  • Within a few minutes, you’ll get an estimate for the loan amount you qualify. Services are much faster than others.
  • All the documents are submitted online, and asset retrieval capabilities and the ability to edit your preapproval letter make them stand out.

Cons:

  • A credit check is necessary to obtain a personalized interest rate, which could lower your credit score.
  • It does not provide home equity lines of credit or loans.
  • According to the most recent data, lender costs are on the higher side and are not significantly mitigated by low mortgage rates.

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2. New American Funding: Best For Borrowers With Bad Credit

Minimum Credit Score Required: 620

Minimum Down Payment: 3%

New American Funding
New American Funding

Based on the Loan Volume Data, New American Funding is one of the top Florida Mortgage Lenders. Founded in 2003, New American Funding has grown to $29 billion, which speaks to its demand. It gives you a variety of loan types, including purchases, refinances and some loans backed by the government with VA and FHA mortgages.

New American Funding is best for the borrowers but with bad credit.  

The rates and fees it gives an average origination fee with affordable rates when compared to other best Mortgage Lenders in Florida.

It provides transparency on interest rates, showing rates and popular loans for APRs. Also, New American Funding makes it easy to apply for a loan, so it is a kind of complete package in one.

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3. Rocket Mortgage: Best For Online Lending

Minimum Credit Score Required: 620

Minimum Down Payment: 3%

Rocket Mortgage
Rocket Mortgage

Earlier offered by Quicken Loans, in July 2021, Rocket Mortgage became the lender’s official name. No matter where you are, online medium, you can apply for a home loan by filling out their application form. Not only this, you can use their phone application as well.

It offers a variety of loan types like FHA and VA loans with affordable rates. Based on Home Mortgage’s overall score in 2020, it received 1 of 5 stars for origination fee and 3 of 5 stars for mortgage rates.

It sounds like a great deal as it gives you access through your phone, provides transparency, and makes it easy to apply for home loans.

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4. SunTrust: Best For First-Time Home Buyers

Minimum Credit Score Required: 620

Minimum Down Payment: 3%

SunTrust
SunTrust

SunTrust is the 7th most prominent United States commercial bank, which makes it the best among the best mortgage lenders in Florida. SunTrust services are available online, and you can access its phone application, which makes it flexible.

You can also visit SunTrust physical branches if you like to follow a traditional way of getting a loan.

SunTrust offers you a variety of loan options with affordable rates and fees, making it best for first-time home buyers. Also, You can find the SunTrust sample rate easily on the SunTrust website.

5. PNC Bank: Best For Low-Down Payment

Minimum Credit Score Required: 620

Minimum Down Payment: 3%

PNC Bank
PNC Bank

One of the largest banks in the U.S, PNC Bank has served more than 9 million clients in 50 states. PNC Bank is one of the best Mortgage Lenders in Florida and offers a low-down payment of 3%. It has a variety of options in loans like Home Equity Loan, ARM, VA, FHA, Conventional and HELOC. Its online website offers a homeowner cost tool with multiple mortgage product lines.

It has one drawback as it does not have any physical branch available.

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Florida Homebuyer Programs in 2022: Overview

Florida Homebuyer Programs offer several down payment options and assist you well. Programs like HFA Preferred Grants 3 to 5 % on home purchase down payment and closing cost. Also, forgive the second mortgage after five years.

Florida Homebuyer Programs
Florida Homebuyer Programs

The eligibility criteria for this program are open to all who want to buy their home and have not occupied any house property in 3 years.

The loan program followed the process of a 30-Year Fixed Mortgage and, compared to federal loan programs, is much cheaper.

Some special programs like Salute Our Soldiers Loan Programs, and FL HLP, offer a great deal.

You can visit their website to apply, which will provide full details on home loan programs.

Note: Carefully read all the instructions, terms and conditions before applying.

Conclusion

If you are planning to apply for the applications, it becomes necessary to compare all the interest rates and credit scores offered by different Florida Mortgage Lenders. They all look similar, but a single digit can affect your budget.

When building a property, we advise you to choose the best Mortgage Lenders in Florida. A home is a dream for many, and we do not want you to suffer from any fraud or misleading sites.

So, plan your budget till you pay off the loan and choose wisely between different mortgage lenders.

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How To Apply For Mortgage Lenders In Florida?

When applying for a Mortgage in Florida, you have plenty of lenders available like Quicken Loans, New American Funding, Rocket Mortgage, SunTrust and PNC Bank. All of these are one of the best mortgage lenders in Florida.

Top Florida Mortgage Lenders
Top Florida Mortgage Lenders

You can choose any of them and apply for our loan directly via their official websites or phone apps. The application process for a home loan is easy and flexible. If facing problems, contact our expert advisors, who will assist you.

Note: Before you proceed, do not forget to read all the terms and conditions carefully.

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