Understand your options and estimate your monthly payment before you start touring homes.
Every buyer's situation is different — Monica can help connect you with a trusted local lender to find the right fit.
Not government-backed. Typically needs a stronger credit score, with down payments as low as 3–5%.
Backed by the FHA. Popular with first-time buyers thanks to down payments as low as 3.5% and flexible credit requirements.
For eligible veterans, service members, and spouses. Often allows 0% down with no private mortgage insurance.
For eligible rural and some suburban areas around Orlando. Can offer 0% down for qualifying buyers and properties.
A quick estimate of your monthly payment, including taxes and insurance. Actual rates and costs vary by lender — use this as a starting point, not a loan offer.
Share your income, debts, and credit picture so a lender can tell you what you realistically qualify for.
This shows sellers you're a serious, qualified buyer — often required before touring homes or writing offers.
With your budget locked in, Monica can focus your search on homes that truly fit your price range and goals.
It depends on the loan program — some conventional loans allow as little as 3–5% down, FHA loans as little as 3.5%, and VA/USDA loans can allow 0% down for eligible buyers.
Private mortgage insurance is typically required when you put down less than 20% on a conventional loan. It can usually be removed once you reach 20% equity.
Florida and local Orlando-area programs periodically offer down payment or closing cost assistance for qualifying buyers. Monica can point you toward current options and lenders who work with them.
Pre-qualification is a quick estimate; pre-approval involves a lender verifying your documents and is what most sellers expect before accepting an offer.