The Best Mortgage Lenders in Saint Petersburg, FL
Compare verified mortgage lenders serving Saint Petersburg, Florida. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saint Petersburg
Featured Mortgage Lenders
GTE Financial
GTE Financial
GTE Financial is one of Florida's largest and most trusted credit unions with deep roots in the St. Petersburg community. As a member-owned cooperative, they offer highly competitive rates and personalized service. Their mortgage team specializes in first-time homebuyer programs and provides comprehensive guidance through the entire loan process. With multiple branches throughout the Tampa Bay area and extensive experience serving Pinellas County residents, they've built a reputation for exceptional customer satisfaction and community-focused lending.
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BayFirst Financial
BayFirst Financial Bank
BayFirst Financial has been serving the St. Petersburg community for over two decades with a strong focus on personalized mortgage solutions. As a community bank headquartered in St. Petersburg, they offer local decision-making and deep understanding of the area's real estate market. Their experienced loan officers provide tailored advice and competitive rates for various loan types, with particular expertise in conventional and government-backed loans. The bank maintains excellent relationships with local real estate professionals and consistently receives high marks for responsive service and transparent communication.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation - Clearwater/St. Pete Division
Fairway Independent Mortgage Corporation has established itself as one of the highest-rated mortgage lenders serving the St. Petersburg area through their nearby Clearwater division. With numerous industry awards and exceptional customer reviews, they're known for their efficient processing and competitive rates. Their local team has extensive experience with Florida's unique real estate landscape and offers a wide range of loan products with particularly strong VA and FHA programs. The company prioritizes customer education and provides seamless digital mortgage experiences while maintaining personal relationships with clients throughout the Tampa Bay region.
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Frequently Asked Questions
Common questions about mortgage lending in Saint Petersburg, FL
What are the current mortgage rates like in Saint Petersburg, FL?
Mortgage rates in Saint Petersburg typically align with national averages but can be slightly influenced by Florida's competitive housing market and insurance costs. As of late 2023, rates for 30-year fixed mortgages in the area generally range from 6.5% to 7.5%, but it's essential to get personalized quotes from local lenders who account for Florida-specific factors like hurricane insurance.
Are there any first-time homebuyer programs specific to Saint Petersburg?
Yes, the City of Saint Petersburg offers the Homebuyer Purchase Assistance Program, which provides up to $60,000 in down payment and closing cost assistance to eligible first-time buyers. This program is designed to help moderate-income households afford homes in the city's growing market, and it can be combined with Florida Housing's first-time buyer programs for additional benefits.
How does flood insurance affect mortgage lending in Saint Petersburg?
Due to Saint Petersburg's coastal location and flood zone designations, most lenders require flood insurance as part of the mortgage package for properties in moderate to high-risk flood areas. This additional insurance cost—typically $500 to $2,000 annually—can impact your debt-to-income ratio and overall loan affordability, so it's crucial to factor this into your budget when house hunting.
What special considerations should I know about condominium mortgages in Saint Petersburg?
Saint Petersburg's popular condo market has specific lending requirements, including reviews of the condo association's financial health, insurance, and owner-occupancy rates. Lenders may have stricter guidelines for condos in high-risk coastal areas, and some complexes may not be eligible for FHA or conventional financing if they don't meet certain criteria, so it's important to verify eligibility early.
How do property taxes in Saint Petersburg impact mortgage payments?
Saint Petersburg property taxes are relatively moderate for Florida, with Pinellas County rates around 0.93% of assessed value for most homeowners. However, property taxes are included in your monthly mortgage escrow payment, and recent increases in home values mean new buyers should budget for higher tax bills than previous owners, which can affect your overall monthly housing cost.
Nearby Cities
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Why Choose a Mortgage Lender in Saint Petersburg?
Local Market Knowledge
Lenders who understand Saint Petersburg'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 Saint Petersburg and get competitive rates on your home loan.