A conversation with Luke
Luke's earlier Florida work included operating a real estate brokerage and helping investors with acquisition, financing and resale. His former real estate broker, general contractor and roofing credentials are past experience, not current services. He let those licenses expire or relinquished them as he moved into full-time origination and relocated to Tennessee. Residential financing is through Edge Home Finance.
Read Luke’s professional background →Estimate your Florida tax bill, not the seller's
Florida's Department of Revenue cautions buyers that a change of ownership can affect assessed value and exemptions. The seller's homestead exemption and Save Our Homes assessment limitation should not be treated as your future tax bill. A buyer may have their own eligibility or portability question, which needs a separate review.
Use the county property appraiser's information for the actual address and ask for an estimate based on your purchase and circumstances. Review the expected ongoing tax expense alongside the closing estimate. A low historical bill should not be the reason a payment appears affordable.
For a condo, review the association before relying on a payment
Florida's Structural Integrity Reserve Study process addresses funding for major structural repairs and replacements in applicable condominium buildings. The association's budget and assessment information can therefore matter as much to your household cash flow as the advertised monthly dues.
Ask for the current budget, regular dues, approved special assessments, reserve information and applicable inspection or study records. Have the real estate and mortgage teams identify the project documents needed for review. A borrower can have a strong income file while the condominium still needs a separate eligibility assessment.
Ask who will pay any assessment at closing and what remains payable afterward. The contract, association documents and lender review determine the treatment; do not assume the seller pays everything or that every assessment can be financed.
Match the income route to the way your Florida business operates
A conventional review may work after the appropriate tax-return income analysis. Where it does not fit, one business with a consistent operating account may be a practical bank-statement candidate. Several entities, frequent transfers or multiple payment platforms may make a P&L comparison useful.
Neither approach turns all deposits into qualifying income. Business expenses, ownership, continuity and the lender's documentation rules still need review. Keep funds available for the home purchase separate from money the business needs to operate.
Compare two complete housing budgets
Imagine a hypothetical choice between a house and a condo with similar purchase prices. The condo has regular dues and an approved assessment; the house requires its own insurance and maintenance budget. Comparing principal and interest alone hides those differences.
Request an address-specific insurance estimate early, and identify which coverage is provided by an association and which must be purchased individually. Combine taxes, insurance, dues and known assessments with the loan payment. Then compare that total with the income method and cash-to-close estimate. No Florida-wide insurance allowance can substitute for the particular property.
Common Florida borrower questions
Does my Florida real estate business need a different kind of home loan?
Your occupation does not determine the loan by itself. Tell us whether the property will be your home or a business-purpose investment, then explain how your business pays you. This page concerns homes you will occupy.
Can I use the tax amount shown in the listing?
Use it to begin the review, then confirm a buyer-specific estimate with the local property appraiser. The prior owner's assessed value and exemptions may not apply to you.
Prepare for our conversation
- Property address, county and whether the home is a condominium.
- Buyer-specific tax estimate and any homestead or portability questions for the property appraiser.
- Insurance estimate, association budget and assessment documents when applicable.
- Business structure, ownership and sources of revenue.
- Funds for closing plus a realistic household and business cushion.
Start by describing your situation. We can identify which records are needed and how to provide them securely.
Review my financing optionsGo deeper on income qualification
- Self-employed mortgage qualificationBusiness history, ownership, income and reserves.
- Bank statements versus a P&LHow to compare the documentation routes.
- Self-employed home financingStart with your goals and available records.
This information is educational, not a loan approval or commitment to lend. Program availability, documentation and terms require review. Confirm tax, legal and insurance details with the appropriate professional or public office for your property and circumstances. Official resources were reviewed October 10, 2026.