Mortgage education provided by a licensed mortgage broker, Paula Bonnafant- Edge Home Finance NMLS 858645 / NMLS 891464
Licensed in FL, GA, NC, VA, TN, CT, MO, MN, MA, PA, OH, & IN
Real estate services provided in Florida only.
Corporate address:
5860 Baker Road
Minnetonka, MN 55345
A mortgage pre-approval helps you understand your price range and shows sellers you’re a serious buyer.
It’s one of the first steps in the home buying process and helps avoid surprises later.
Your budget is more than just a monthly payment. It includes down payment, closing costs, insurance, taxes, and ongoing expenses so you can buy comfortably and sustainably.
Once you understand your budget, you can begin looking at homes that fit your goals.
This step often includes viewing properties, narrowing neighborhoods, and deciding what matters most to you.
When you find the right home, your offer outlines price, terms, and timing.
Understanding this step helps you make competitive and informed decisions.
After your offer is accepted, inspections and appraisals help confirm the condition and value of the home.
Your loan then moves through final underwriting before closing.
Closing is when documents are signed, funds are finalized, and ownership transfers.
Once complete, you receive the keys and officially become a homeowner.
Many buyers worry they need to understand every detail before starting.
In reality, learning the process step by step makes home buying much more manageable.
If you’d like help understanding your next step, you can explore mortgage basics or learn more about buying a home in Florida below.
This information is provided for educational purposes only.
Mortgage lending is subject to licensing and program guidelines.
Mortgage education provided by a licensed mortgage broker, Paula Bonnafant- Edge Home Finance NMLS 858645 / NMLS 891464
Licensed in FL, GA, NC, VA, TN, CT, MO, MN, MA, PA, OH, & IN
Real estate services provided in Florida only.
Corporate address:
5860 Baker Road
Minnetonka, MN 55345
A mortgage is a loan used to purchase or refinance a home.
It includes the loan amount, interest rate, repayment term, and monthly payment structure.
Pre-qualification is an estimate based on basic information.
Pre-approval involves a deeper review of income, credit, and assets and provides a clearer picture of your buying power.
Conventional loans are commonly used by buyers with stable income and credit.
They offer flexible terms and down payment options depending on qualifications.
FHA loans are often helpful for first-time buyers or buyers with lower down payments.
They are government-insured and have specific guidelines and requirements.
VA loans are available to eligible veterans, active-duty service members, and qualifying spouses.
They offer unique benefits, including no required down payment in many cases.
Some buyers and investors use alternative loan programs based on property income or specific scenarios.
These options vary by situation and eligibility.
* Credit history and scores* Income and employment stability* Assets and reserves* Existing debts and obligationsUnderstanding these factors helps you prepare before applying.
Mortgage programs and guidelines can vary by state and individual circumstances.
Loan availability is subject to licensing, program rules, and borrower qualifications.
If you’d like to continue learning, you can review the home buying process or explore Florida-specific buying considerations below.
Mortgage education provided by a licensed mortgage broker - Edge Home Finance NMLS 858645 / NMLS 891464
Licensed in FL, GA, NC, VA, TN, CT, MO, MN, MA, PA, OH, & IN
Real estate services provided in Florida only.
Licensing details available below.
Corporate address:
5860 Baker Road
Minnetonka, MN 55345
Florida buyers often need to plan for homeowners insurance differently due to weather-related risks.
Understanding insurance requirements early can help avoid delays and surprises.
Florida offers homestead benefits for primary residences that can reduce taxable value.
Eligibility and filing timelines are important to understand after purchasing.
Many Florida properties are located in HOA or condo communities.
Buyers should review rules, fees, and restrictions carefully before moving forward.
Some areas in Florida require flood insurance based on location.
Understanding zoning and elevation considerations can help you make informed decisions.
Many buyers relocate to Florida from other states and have similar questions.
Learning the process and local considerations ahead of time makes the transition much smoother.
Insurance, property type, and location can influence loan requirements and timelines.
Planning ahead helps align the home search with financing expectations.
If you’re still exploring, you can review the general home buying process or mortgage basics to better understand your next step.
Real estate services are provided in Florida only.
Information on this page is for educational purposes and may vary by property and location.
Mortgage education provided by a licensed mortgage broker - Edge Home Finance NMLS 858645 / NMLS 891464
Licensed in FL, GA, NC, VA, TN, CT, MO, MN, MA, PA, OH, & IN
Real estate services provided in Florida only.
Licensing details available below.
Corporate address:
5860 Baker Road
Minnetonka, MN 55345