FHA: mortgage insurance
FHA insures qualifying loans issued by approved lenders; it does not lend you money directly. Primary-home, borrower and condo-project eligibility require review.
Homebuyer financing
Explore assistance, understand rates and connect with David’s Lending Spot application.
Mortgage options, simply explained
FHFA: oversight and data
FHFA oversees Fannie Mae and Freddie Mac and publishes mortgage statistics. FHFA is not an FHA loan or buyer grant.
U.S. residents
Conventional and other loan programs depend on income, credit, debts, occupancy and property review. Living in the U.S. alone does not establish eligibility.
Foreign nationals
Ask about foreign-national financing. Documentation, down payment, reserves and terms vary by lender. Do not assume FHA eligibility or that a condo-hotel is financeable.
- Down payment
- The part of the price you pay from your own funds, before closing costs.
- Loan-to-value (LTV)
- Loan divided by property value: a $400,000 loan on a $500,000 property is 80% LTV.
- Debt-to-income (DTI)
- Monthly debt payments divided by qualifying monthly income; lenders decide what income and debts count.
- Total monthly cost
- Principal and interest plus taxes, insurance, HOA and any mortgage insurance. Closing costs are additional.
Compare payment scenarios
How to read these scenarios
The annual rate is the yearly interest the lender charges on the amount you borrow. It is not the APR, which also includes fees and points.
Type the rate you want to test. We show that rate in the middle and one point lower and one point higher beside it, so you can see how much the monthly payment changes if rates move by 1%.
Each figure is principal and interest only on a 30-year fixed loan. Taxes, insurance, HOA and mortgage insurance are added on top.
1 point lower · 5.00%
$1,610 / month
≈ $279,767 total interest over 30 years
Your rate · 6.00%
$1,799 / month
≈ $347,515 total interest over 30 years
1 point higher · 7.00%
$1,996 / month
≈ $418,527 total interest over 30 years
Selected scenarios, not predictions or lender offers. Illustration over 30 years. Excludes taxes, insurance, HOA, mortgage insurance and closing costs.
Mortgages & rates
U.S. 30-year fixed mortgage average: weekly history, not a local or personal quote.
Source: Freddie Mac PMMS via FRED (MORTGAGE30US). Actual terms depend on borrower, property, points and lender. No prediction or guarantee. FRED · Freddie Mac
Request prequalification contact
Leave your contact details for the coordination team. Complete your financial application only on Lending Spot’s secure site.
Not a credit application, approval, loan offer or commitment. Do not enter Social Security numbers, income statements or bank documents here. Privacy policy
Homebuyer assistance
Possible programs, not confirmed eligibility. Most require a primary residence, income limits and lender/agency review; not investment or commercial benefits.
Florida Housing
First mortgage and linked down-payment assistance through participating lenders. Eligibility and funding must be checked.
Official sourceMiami-Dade homeownership
County homebuyer programs may offer subordinate financing. Residency, income and lender approval apply.
Official sourceCity of Miami first-time buyers
City-located homes, condos and townhomes may qualify under first-time-buyer and income rules. Miami Beach and other municipalities are not the City of Miami.
Official sourceAvailability must be confirmed with the agency; a program page does not prove funds are available.
Mortgage data sources
National context, not building-level mortgage data · Monthly / quarterly / annual releases
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