Scott Shannon

I'm self-employed. Will my bank balance get me approved in Naples?

Probably not the way you're hoping, but that doesn't mean no. Lenders generally look at averaged income off your last two years of tax returns, not what's sitting in the account. That's the part that blindsides self-employed buyers in Naples constantly: strong business, healthy balance, great credit, and then the write-offs that saved you money at tax time work against you at the underwriting desk. It's a real frustration, and it isn't all-or-nothing either. There are programs built specifically for self-employed and 1099 borrowers that look at the picture differently than a standard W-2 file does. Which one fits depends entirely on how your business is structured and how you file. That's genuinely a conversation, not a form. A lot of self-employed buyers in Naples assume the answer is no before anyone's actually run their numbers.

Can I ask the seller to pay my closing costs in Tampa?

Yes, and in most cases you should be asking for more than closing costs. Seller concessions can cover closing costs, sure. But the higher-leverage play is taking that same seller money and using it to permanently buy your rate down instead. Closing costs are a one-time win. A permanent buydown changes your payment for as long as you hold the loan. The version that works well: offer at or above asking, ask for around 3% in seller concessions, and steer that money at the rate instead of the price. Structured right, buyers have landed as much as 1.5% below the national average doing exactly this. The seller often still nets what they wanted, and you get a payment that actually works long-term. In a Tampa market where sellers have gotten a lot more willing to deal than they were two years ago, this is very much on the table. Just know concession limits vary by loan type, so it's worth structuring before the offer goes in, not after.

What credit score do I actually need to buy a house in Florida?

Lower than the number in your head. "You need a 700" is a myth that keeps people renting years longer than they need to. Different loan programs have genuinely different floors, and several go well below 700. A lot of people talk themselves out of even asking because of a score they saw on a free app, and those free-app scores often aren't even the model a mortgage lender actually uses. Here's the part that surprises people most: your score by itself doesn't decide much. It's your score combined with your income, your debts, and your down payment. A 620 can get approved comfortably while a 740 struggles, because the 740 is carrying too much other debt. So don't self-reject. Find out where you actually stand before you assume the door's closed.

How much home can I afford?

It comes down to your income and your debts, not a fixed number everybody should hit. Lenders compare your gross monthly income to what you already owe, then look at what's realistically left for a house payment. The "spend a third of your income on housing" rule you see online is a decent starting point, but it ignores your actual debt load, and that can swing the real number a lot in either direction. Someone with no car payment and no student loans can often afford meaningfully more house than someone with the same income carrying both. The only way to know your real number is a full pre-approval that looks at your actual income, debts, and credit, not an online calculator guessing at averages. Most people are surprised it's higher than they expected, because those calculators tend to be conservative.

Can I get a loan to buy land in Florida?

yes, but if its a small loan under 250k than you probably need to goto a local credit union for that most your large banks or lenders like us can't do small land loans like that.

What's different about financing a home in Fort Lauderdale?

The insurance piece, mostly — flood and wind coverage factor into your numbers a lot heavier down there than most of the state. And the buyer pool is a mix of primary residences, second homes, and boat-lifestyle buyers, so there's not really a 'typical' file in Fort Lauderdale. I'd rather run your actual numbers than hand you a generic range that doesn't mean much.

Is Jacksonville a good market for first-time buyers?

I think so, especially compared to South Florida. It's generally more affordable, the job market's been growing, and there's a real Navy presence up there that a lot of buyers don't realize opens up VA loan options for them. If you've got military service in your background and you're looking in Jacksonville, that's the first thing I'd check before assuming you're stuck with a conventional loan.

Does buying near a Florida university town change your financing options?

It can, yeah. Gainesville with UF is the one I see most — it can shift rental potential if you're thinking investment, and it can shift how competitive a listing is compared to the rest of the county. Doesn't mean the loan process itself is different, but the numbers around the property sometimes are. Worth pricing that specific area out rather than assuming it behaves like the rest of Alachua County.

Can a gift from family cover my down payment?

Yes, and it happens more than people think. The part that trips folks up isn't whether it's allowed — it's the paperwork. We need a gift letter and a clear paper trail showing where the money actually came from. Skip that step and it can hold up your closing right when you don't want any surprises. Set it up right from the jump and it's a total non-issue.

Does getting pre-approved hurt my credit score?

No, not really — not the way people picture it. A pre-approval means we pull your credit, so yeah, there's a small dip, usually pretty minor and temporary. What throws people off is thinking every lender they talk to tanks their score separately. That's not how it works — shop around in a normal window and those inquiries usually get bundled together for scoring purposes. So go ahead and talk to more than one lender. That's not what's going to hurt you.