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Home Loans In Jacksonville

Jacksonville, the second-largest city by area in the contiguous United States as of 2020, is a city on the Atlantic coast of northeastern Florida. It is also the most populous city proper in the state. It serves as the county seat for Duval, which governs the town merged in 1968.

Jacksonville offers the ideal mix of affordable housing, high rental rates, and rapid property appreciation, which makes investing here so alluring. Redfin statistics indicate that Jacksonville is in the top 5 most popular real estate markets for investors.

Jacksonville Home Loan Programs 

There are several home loan programs available in Jacksonville. Some of the popular mortgage programs are as follows, along with their respective pros and cons:

  • FHA Loans

The Federal Housing Administration insures these government-backed loans, intended to assist borrowers with lower credit scores and smaller down payments. The current FHA loan limit for a single-family home in Jacksonville, Florida, is $526,700.

The Pros of FHA loans in Jacksonville include the following:

  • Low down payment requirement:

FHA loans allow borrowers to put down as little as 3.5% of the purchase price, substantially less than the typical 20% down payment required by conventional loans.

  • Lenient borrowing requirements:

FHA loans have more lenient requirements for credit score, debt-to-income ratio, and down payment than conventional loans. Borrowers only need a credit score of 580, which allows a debt-to-income ratio of up to 50%.

  • Low credit score requirement:

FHA loans require a minimal credit score of 580, which is lower than the conventional loan minimum of 620. Borrowers with credit scores between 500 – 579 may still qualify with a minimum 10% down payment.

  • Enables homeownership for more people:

As a result of government-backed mortgage insurance and relaxed requirements, FHA loans make homeownership accessible to a broader range of borrowers.

The Cons of FHA loans in Jacksonville are:

  • Lower loan limits:

The lower FHA loan limits compared to conventional loans may restrict the amount an applicant may afford. For 2023, the maximum FHA loan amount in Duvall County is $548,250. The cap on conventional loans, on the other hand, is $726,200.

  • Mortgage insurance costs:

FHA loans need a 1.75% upfront mortgage insurance payment (UFMIP) and a monthly mortgage insurance premium (MIP) of 0.85% of the loan amount. This added expense may make FHA loans more expensive in the long run.

  • Property restrictions:

FHA loans have strict property requirements; some properties may only qualify if these conditions are met. The minimal property standards in Jacksonville for an FHA loan are intended to guarantee that the property is safe, secure, and structurally sound.

  • VA Loans

The Department of Veterans Affairs backs these loans, accessible to eligible veterans, active-duty service members, and some surviving spouses. The advantages of VA loans include no down payment, no private mortgage insurance (PMI), and reasonable interest rates. The disadvantages include an upfront funding fee cost and more stringent property restrictions.

  • USDA Loans

USDA loans are available to non-farm homeowners in rural areas and for rural housing developments. The United States Department of Agriculture (USDA) guarantees loans to qualifying buyers up to 100% financing. It permits all closing fees to be paid for by the seller or financed into the loan.

To qualify for a USDA loan, applicants must purchase a property in a USDA-defined rural area. USDA-eligible properties in Jacksonville have an average price of $514,840 and a covered area of 2,293 square feet. The USDA’s Income and Property Eligibility Site can be used to determine property eligibility.

The pros of a USDA home loan in Jacksonville include no down payment requirement, low-interest rates, and the ability to finance repairs and closing costs. However, the cons are geographic restrictions, income limitations, and the loan is limited to only primary residences.

  • Conventional Loans

Conventional mortgage loans are not insured or guaranteed by the government. Private lenders instead back them. Conventional loans are typically the best option for borrowers with outstanding credit, stable income, and a 20 percent down payment.

A conventional mortgage in Jacksonville requires a minimum down payment of three to five percent. Conventional mortgages are the most prevalent option for financing a home than government-insured loans. They can be used to purchase both primary residences and investment properties, and their terms can range from one to forty years, with a fixed or variable interest rate.

Conforming and non-conforming loans are the two categories of conventional loans. The Federal Housing Finance Agency (FHFA) establishes loan limits for conforming conventional loans. The current loan limit for most U.S. counties is $726,200; in high-cost areas, it is $1,089,300 and, in some cases, even higher.

  • Jumbo Loans

These loans are for borrowers who need to borrow more than Fannie Mae and Freddie Mac’s conforming loan limits. The capacity to finance pricey properties and competitive interest rates for suitable borrowers are two advantages of jumbo loans. The disadvantages are larger down payment requirements and stricter credit score and debt-to-income ratio requirements.

Apply for a Home Loan in Jacksonville

Capital Home Mortgage is a direct mortgage lender and servicer that offers a vast array of Florida mortgage products to satisfy all of its clients’ mortgage-related needs. Whether you have lived in Jacksonville your entire life or are new to the area, our highly skilled Capital Home Mortgage Team will work to find the loan program that best fits your budget and individual needs. We can assist you in purchasing your first home, refinancing your current mortgage, or consolidating your debt. 

Contact us at (239) 310-5599 to begin the homeownership process.

Why Jacksonville HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Jacksonville Florida Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness
Jacksonville Mortgage Programs

Jacksonville Home Purchase

Thinking of Buying an Jacksonville Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Jacksonville renovation home loans

Looking to Rehab an Jacksonville Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Jacksonville FHA Home Loans

Great for 1st Time Jacksonville Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Jacksonville VA Home Loans

100% Financing for Jacksonville Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Jacksonville Conventional Home Loans

Flexibility for Jacksonville Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Jacksonville Jumbo Home Loans

Jacksonville Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Jacksonville USDA Home Loans

100% Jacksonville Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Jacksonville Native American Home Loans

Jacksonville HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Jacksonville Manufactured Home Loans

Great Alternative Jacksonville Housing

Jacksonville reverse mortgages

Your Jacksonville Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Jacksonville Non QM Home Loans

Making Jacksonville Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Jacksonville One Time Close mortgages

Build Your Jacksonville Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Jacksonville Refinance Mortgage Loans

Jacksonville Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Jacksonville Cash-out Home mortgages

Jacksonville Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Jacksonville Florida Mortgage Team

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