The Best Mortgage Lenders in Cocoa, FL
Compare verified mortgage lenders serving Cocoa, Florida. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cocoa
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated lender known for its efficient processing and personalized service, with a strong local presence in Brevard County. They excel in providing competitive rates and a wide range of loan options, backed by high customer satisfaction scores and a commitment to community involvement. Their digital tools and local loan officers make them a preferred choice for Cocoa residents seeking reliable mortgage solutions.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly reputable national lender with a robust presence in Central Florida, serving Cocoa with competitive rates and innovative technology. They are praised for their transparency, fast closings, and extensive loan products. With numerous awards and high customer reviews, they offer expert guidance and local support, making them a trusted option for homebuyers in the area.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is renowned for its exceptional customer service and deep community roots in Florida. They offer a comprehensive suite of mortgage products with competitive rates and have consistently high ratings for their responsive and knowledgeable loan officers. Their commitment to education and support throughout the loan process makes them a standout choice for Cocoa homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Cocoa, FL
What are the current mortgage rates like for homebuyers in Cocoa, FL?
Mortgage rates in Cocoa typically align with national averages but can be slightly influenced by Florida's insurance costs and local market demand. As of recent trends, rates for 30-year fixed mortgages in the Cocoa area range from 6.5% to 7.5%, but shopping local lenders like Space Coast Credit Union or regional banks can sometimes yield competitive offers. It's wise to get multiple quotes since rates can vary between lenders serving Brevard County.
Are there any first-time homebuyer programs specific to Cocoa that can help with down payments?
Yes, Cocoa homebuyers can access Florida Housing's First Time Home Buyer program, which offers down payment assistance and competitive interest rates. Additionally, Brevard County's SHIP (State Housing Initiatives Partnership) program provides eligible Cocoa residents with deferred-payment loans for down payment and closing costs. These programs are particularly valuable given Cocoa's median home prices, making homeownership more accessible for qualified buyers.
How does Cocoa's proximity to flood zones affect mortgage requirements?
Due to Cocoa's location along the Indian River and proximity to the coast, many properties require flood insurance, which lenders will mandate for mortgages in designated flood zones. This additional cost typically ranges from $500-$2,000 annually and must be factored into your monthly housing payment. Your lender will order a flood zone determination during the mortgage process to confirm requirements.
What special considerations should I know about getting a mortgage for a older home in Cocoa's historic districts?
Financing older homes in Cocoa's historic areas like the Porcher House district may require specialized loan products, as some conventional loans have restrictions on homes over 50 years old. You might need a FHA 203(k) renovation loan or consider a portfolio loan from local lenders familiar with Cocoa's historic properties. Always get a thorough inspection, as older electrical, plumbing, or foundation issues could affect loan approval.
How does the Space Coast employment market impact mortgage approval in Cocoa?
Lenders view employment with major Space Coast employers like NASA, SpaceX, and Patrick Space Force Base favorably due to stable income history. However, seasonal or tourism-related employment common in Cocoa might require additional documentation to prove consistent income. Self-employed borrowers should prepare 2+ years of tax returns, as lenders carefully assess income stability in the local market.
Why Choose a Mortgage Lender in Cocoa?
Local Market Knowledge
Lenders who understand Cocoa's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Florida.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Cocoa and get competitive rates on your home loan.