Credit Score
- Excellent
- 750+ (Best rates)
- Good
- 700-749 (Approved)
- Fair
- 650-699 (Possible)
- Poor
- Below 650 (Difficult)
Mortgage Qualification Guide
Understand your qualification status.
Learn the key factors that determine your readiness to purchase luxury property in Miami and Orlando. Get guidance from industry experts.
$0M+
Total Sales Volume
0+
Years Experience
Top 1%
Florida Realtors
0+
Satisfied Clients
The Five Factors
Florida mortgage
requirements 2025.
Banks and lenders evaluate five key factors to determine your mortgage eligibility and interest rate.
Gross Income
- Debt-to-Income
- Below 43% ideal
- Monthly Income
- Based on last 2 years
- Self-Employed
- Requires 2 years history
- Coverage
- 28% housing ratio
Down Payment
- Conventional
- 3-20% typical
- Premium
- 15-20% preferred
- Luxury
- 20-30% standard
- Gift Funds
- Allowed with docs
Employment
- Stability
- 2+ years ideal
- Same Field
- Preferred
- Job Changes
- Explainable
- Verification
- Required
Debt Management
- DTI Ratio
- Keep below 43%
- Pay Down
- Before applying
- Accounts
- Keep open/active
- Late Payments
- Avoid
Market Snapshot
Florida housing market 2025.
Miami Market
Median Home Price
$0
Avg Interest Rate
6.8%
Luxury Segment
$1.2M - $5M+
Year-over-Year
+8.3%
Orlando Market
Median Home Price
$0
Avg Interest Rate
6.8%
Luxury Segment
$750K - $3M+
Year-over-Year
+6.2%
Step by Step
The pre-approval process.
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1
Gather Documents
Recent tax returns (2 years), pay stubs, bank statements, employment verification, and credit authorization.
-
2
Submit Application
Complete loan application with your lender, including property details and financing request amount.
-
3
Credit Check & Verification
Lender pulls credit report, verifies employment, income, and reviews debt obligations. Takes 2-3 business days.
-
4
Underwriting
Detailed review of all documents, risk assessment, and loan decision (approved, conditional, or denied).
-
✓
Pre-Approval Letter
Receive official pre-approval letter with approved loan amount, interest rate, and conditions. Valid 90 days.
Average Timeline: 3-5 business days for pre-approval
What Clients Say
Trusted by our clients.
"Outstanding service from start to finish! Delux Royal helped us purchase a beautiful home in Doral. They went above and beyond at every step."
Isabella Martinez
Doral, Miami
"Working with Delux Royal was a game changer. Their knowledge of the luxury market is unmatched. Found our dream home thanks to their guidance!"
David Thompson
Orlando
"Excellent experience! Romelia is the best realtor in Miami. She understood exactly what we wanted and delivered beyond our expectations."
Carmen Ruiz
Miami
Free Assessment
Check your qualification.
Complete our assessment to see if you're ready for your next luxury property purchase.
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Private consultations available daily - in person or by video.