You don't need 20% down — and you don't need to figure this out alone. BayPort Lending walks first-time buyers in Florida & Texas through every option and every step, from pre-approval to keys in hand.
The biggest first-time buyer myth is that you need 20% down. In reality: FHA loans start at 3.5% down with credit scores as low as 580, conventional loans start at 3% down for qualifying first-time buyers, and VA (veterans) and USDA (eligible areas) loans offer 0% down. On a $300,000 home, that's the difference between saving $60,000 and saving $9,000–$10,500.
FHA loans allow scores as low as 580 with 3.5% down; conventional typically needs 620+. If your score is below that, we'll tell you exactly what to work on — many of our buyers started a few points short and closed a few months later.
Pre-qualification is an estimate based on what you tell us. Pre-approval means we've verified your income, assets, and credit — it carries real weight with sellers and is what you want before making offers.
Pre-approval takes as little as a day. Once you're under contract, closing typically takes about 30 days — and we manage the timeline so you always know what's next.
Yes — both states offer down payment assistance programs for eligible first-time buyers, and some local programs exist too. Eligibility depends on income, location, and loan type; call (941) 584-8724 and we'll check what applies to you.
Not sure what you can afford? Try our Affordability calculator, or see today's mortgage market.
Get pre-approved in minutes, or call and ask every question you've got — that's what we're here for. No pressure, no jargon.