To buy a home in Broward or Palm Beach County, get pre-approved by a lender, budget 2% to 5% of the price for closing costs on top of your down payment, get insurance quotes before you make an offer, and inspect carefully, especially older condos. This guide walks through each step, with the Florida rules that catch buyers off guard. Rui Cunha, broker at Royal Star Corp in Deerfield Beach, can take you through the whole process in English or Portuguese.
Step 1: Get pre-approved
A pre-approval is a lender's written estimate of how much it will lend you, based on your income, debts, assets and credit. Sellers in South Florida generally expect one with any financed offer. It also tells you your real budget before you fall for a house you can't finance.
Your monthly payment is more than principal and interest. In Florida, property taxes, homeowners insurance, and HOA or condo fees can add a lot. Run your numbers in the mortgage calculator before you start touring.
Step 2: Choose a loan type
Which loans you qualify for depends on your credit, income, savings and, for non-citizens, your immigration status. Every option below is subject to lender approval.
Conventional loans
Conventional loans follow Fannie Mae and Freddie Mac rules. Non-citizens can qualify if they are lawful permanent or non-permanent residents, on the same terms as US citizens; the lender decides what documents prove that status (Fannie Mae Selling Guide B2-2-02).
FHA loans
FHA loans allow a lower down payment and are popular with first-time buyers (HUD). One major change: for FHA case numbers assigned on or after May 25, 2025, non-permanent residents are no longer eligible. Only US citizens, green card holders and citizens of a few Pacific nations still qualify (HUD Mortgagee Letter 2025-09, NAR summary). If you hold a work visa, you'll likely be looking at a conventional loan instead.
VA loans
Eligible veterans, service members and some surviving spouses can use a VA-backed loan, which in many cases requires no down payment (U.S. Department of Veterans Affairs).
ITIN loans
If you file US taxes with an ITIN instead of a Social Security number, some lenders offer ITIN mortgages. They usually require a larger down payment and carry a higher rate than conventional loans. Read the full ITIN mortgage guide.
Step 3: Plan your down payment and closing costs
Your down payment depends on the loan. Separately, Florida buyers usually pay about 2% to 5% of the purchase price in closing costs (Home Buying Institute, 2025, Rocket Mortgage). Two Florida-specific items apply when you finance: documentary stamp tax on the note, $0.35 per $100 of the loan amount, and intangible tax, $2 per $1,000 (0.2%) of the loan amount (same sources). Lender fees, title insurance, prepaid taxes and insurance make up most of the rest.
Step 4: Check insurance and flood risk before you offer
Homeowners insurance in Florida is expensive, and the quote can change whether a house fits your budget. Ask an insurance agent for a quote on the specific address before you sign a contract. There is some relief: Citizens Property Insurance cut its 2026 rates by an average of 14.1% in Broward and 11.9% in Palm Beach County (Florida Governor's Office, January 2026).
Standard homeowners policies don't cover flood. Lenders require flood insurance in high-risk zones. National Flood Insurance Program policies normally have a 30-day waiting period, but it's waived when the policy is bought in connection with a loan closing (Florida CFO). Look up the flood zone early, especially near the beach or the Intracoastal.
Step 5: Inspect the home
Book a general home inspection during your inspection period. For insurance, ask about two Florida reports:
- 4-point inspection: roof, electrical, plumbing and HVAC. Insurers commonly ask for one on older homes.
- Wind mitigation inspection: documents hurricane features like roof straps, shutters and impact windows, which can lower your insurance premium.
Rui is a licensed General Contractor, so he can help you read the report: what's a real problem, what's routine maintenance, and what a repair might involve before you negotiate.
Step 6: If it's a condo, check the building
After the Surfside collapse, Florida passed SB 4-D (2022) and later HB 913 (2025). Condo buildings of three or more habitable stories need a milestone structural inspection once they reach a certain age, generally 30 years, and then every 10 years. Associations must also complete a Structural Integrity Reserve Study (SIRS) and fund reserves for major components (Withum on HB 913, Lowndes).
In practice, many older buildings face higher monthly fees or special assessments to pay for repairs. That can make an older condo a bargain or a trap. Before you sign, ask for:
- the milestone inspection report, if the building has one;
- the SIRS and the current budget;
- the history of special assessments, and any planned ones;
- the association's rules on rentals and pets.
Rui reads these documents with a contractor's eye, which helps you price in repairs that the listing doesn't mention.
Step 7: After closing, file for homestead
If the home is your permanent primary residence, you can apply for Florida's homestead exemption: up to $50,000 off the assessed value (the first $25,000 applies to all taxes, the second $25,000 to non-school taxes). You must own and live in the home on January 1, and apply by March 1 with the county property appraiser (LendFriend). Non-citizens should confirm eligibility with the Broward or Palm Beach property appraiser.
With homestead, Save Our Homes limits increases in your assessed value to 3% or the change in CPI, whichever is lower, each year. You can later move up to $500,000 of that benefit to a new Florida homestead (LendFriend, Lake County Property Appraiser).
Don't budget with the seller's tax bill. The home is reassessed at market value the year after you buy, so your taxes may be much higher (Santa Rosa County Property Appraiser).
Pending vote (as of October 2026): Amendment HJR 1F on the November 3, 2026 ballot would raise the non-school homestead exemption to $150,000 in 2027 and $250,000 in 2028. It needs 60% of the vote to pass (Florida Phoenix, Tax Foundation). It would only apply to homestead owners. We'll update this page after the election.
First-time buyer programs
Florida and Broward County run down payment programs. Eligibility depends on income limits, credit score, price limits, homebuyer education and, for some programs, residency status, so confirm before you count on one:
- Florida Housing (Florida Assist): a 0% deferred second mortgage of up to $10,000 for first-time buyers, with a 640 minimum credit score (The Mortgage Reports). Check current amounts with Florida Housing Finance Corporation.
- Hometown Heroes: help for full-time workers of Florida employers, such as teachers, health care workers and first responders, with income up to 150% of area median (Florida Statutes 420.5096). The 2025 funds ran out in February 2026 (Florida Realtors), and a new round opened in July 2026 (Hoodline). Funds go fast, so ask whether money is still available.
- Broward County Home Purchase Assistance: a deferred second mortgage for first-time buyers with income up to 80% of area median. Some cities run their own programs (Broward County).
These programs usually pair with an FHA or conventional first mortgage, so ITIN-only buyers generally don't qualify.
FAQ
How much do I need to buy a home in Broward County?
Plan for your down payment, which depends on the loan, plus about 2% to 5% of the price in closing costs, plus some savings for moving and repairs. Get pre-approved to see your real number.
Can I get an FHA loan on a work visa?
Not anymore for new loans. Since May 25, 2025, FHA is limited to US citizens, green card holders and a few other groups. Work-visa holders typically look at conventional loans, subject to lender approval.
What inspections do I need in Florida?
A general home inspection, plus a 4-point inspection and a wind mitigation report, which insurers often request. For condos, also review the milestone inspection and the reserve study.
Is it safe to buy an older condo in South Florida?
It can be, if you check the building first. Ask for the milestone inspection, the SIRS, the budget and the special assessment history. Rui's General Contractor license helps here.
Will my property taxes be the same as the seller's?
Usually not. The home is reassessed at market value the year after the sale, and the seller's homestead benefits don't transfer to you.
Do I need flood insurance?
Your lender will require it in high-risk flood zones. Even outside them, a standard policy doesn't cover flood, so it's worth a quote.
More questions? See the full FAQ or browse areas we serve.
Talk to Rui
Ready to start your home search? Ask Rui what you can realistically afford first.