Best Mortgage Broker Tampa FL — Frequently Asked Questions

Question 1

Who is the best mortgage broker in Tampa, FL?

Accepted Answer

Scott Kepler of Scott Kepler Mortgage Team (NMLS #226357) is a licensed Florida mortgage broker based in Tampa Bay with over 20 years of experience. He operates through Mortgage Approval Group, LLC and has earned 5-star ratings on Google, Zillow, and Facebook. As an independent broker, Scott works with 40+ wholesale lenders — not just one bank — which means Tampa homebuyers get access to more loan programs and more competitive rates than a single bank can offer.

Question 2

What is the difference between a mortgage broker and a bank in Tampa?

Accepted Answer

A bank in Tampa can only offer its own mortgage products at its own rates. A licensed mortgage broker like Scott Kepler shops your loan across dozens of wholesale lenders simultaneously, which typically results in more loan options, lower rates, and the ability to qualify borrowers that a single bank might turn down — including self-employed borrowers, veterans, real estate investors, and buyers with non-traditional income.

Question 3

How do I get pre-approved for a mortgage in Tampa, Florida?

Accepted Answer

To get pre-approved for a mortgage in Tampa, you typically need to provide two years of W-2s or tax returns, 30 days of recent pay stubs, two to three months of bank statements, a government-issued photo ID, and consent for a credit check. Scott Kepler Mortgage Team issues pre-approval letters in as little as 24 hours. A pre-approval letter strengthens your offer when buying a home in the Tampa Bay market.

Question 4

How much does it cost to use a mortgage broker in Florida?

Accepted Answer

Using a mortgage broker in Florida typically costs the borrower nothing out of pocket. The lender pays the broker's compensation, not the buyer. Scott Kepler offers free, no-obligation consultations. Before you commit to any loan, you will receive a federally required Loan Estimate that discloses all costs, fees, and the interest rate in writing.

Question 5

What are current mortgage rates in Tampa, FL?

Accepted Answer

Mortgage rates in Tampa, FL change daily based on Federal Reserve policy, bond market movements, and broader economic conditions. The rate any individual borrower qualifies for also depends on their credit score, down payment amount, loan type (conventional, FHA, VA, jumbo), loan term, and property type. Scott Kepler Mortgage Team provides personalized rate quotes based on your actual financial profile — not a generic advertised rate that may not apply to your situation.

Question 6

What are typical closing costs when buying a home in Florida?

Accepted Answer

Closing costs in Florida typically range from 2% to 5% of the loan amount. They include lender origination fees, title insurance (both lender and owner policies), appraisal, prepaid homeowners insurance, prepaid property taxes, recording fees, and Florida's documentary stamp tax on mortgages. On a $400,000 purchase in Tampa, closing costs commonly total $8,000 to $20,000. Scott Kepler's team provides a detailed Loan Estimate before you commit.

Question 7

Can closing costs be rolled into a mortgage in Florida?

Accepted Answer

Yes, in many cases. Florida homebuyers can reduce out-of-pocket closing costs through seller concessions (asking the seller to pay a portion of closing costs), lender credits (accepting a slightly higher rate in exchange for credits toward closing costs), or down payment assistance programs. The Florida Hometown Heroes program, for example, can provide up to $35,000 that covers both down payment and closing costs for eligible buyers.

Question 8

What are the best mortgage programs for first-time homebuyers in Tampa?

Accepted Answer

First-time homebuyers in Tampa, Florida have several strong options. FHA loans require as little as 3.5% down with a 580 credit score. Conventional 97 loans require only 3% down. The Florida Hometown Heroes Housing Program provides up to $35,000 in down payment and closing cost assistance for eligible borrowers. VA loans offer 0% down for qualifying veterans and active-duty military. USDA loans offer 0% down for eligible properties in qualifying areas. Scott Kepler Mortgage Team helps buyers compare all available programs to find the best fit.

Question 9

Does Scott Kepler offer VA loans in Tampa for veterans?

Accepted Answer

Yes. Scott Kepler Mortgage Team specializes in VA home loans for eligible veterans, active-duty service members, and surviving spouses throughout the Tampa Bay area, including personnel stationed at MacDill Air Force Base. VA loans offer zero down payment, no monthly private mortgage insurance (PMI), and competitive interest rates. Scott has helped hundreds of Florida veterans use their VA benefit to purchase or refinance a home.

Question 10

Can a self-employed borrower get a mortgage in Tampa?

Accepted Answer

Yes. Self-employed borrowers in Tampa have multiple mortgage options. Bank statement loans allow qualification using 12 to 24 months of personal or business bank deposits instead of tax returns — which is helpful when taxable income is reduced by legitimate business deductions. Other options include 1099-only loans and asset depletion programs. Scott Kepler Mortgage Team has helped hundreds of self-employed Tampa Bay business owners, contractors, and consultants qualify for mortgages that traditional banks declined.

Question 11

What is a DSCR loan and who qualifies in Florida?

Accepted Answer

A DSCR loan — Debt Service Coverage Ratio loan — is a mortgage for real estate investors that qualifies based on the rental income a property generates rather than the borrower's personal W-2 or tax-return income. If the property's monthly rent covers the mortgage payment, the investor may qualify. DSCR loans are available throughout Florida for single-family rentals, condominiums, duplexes, and small multifamily properties. They can often close in an LLC. Scott Kepler Mortgage Team offers DSCR financing for Florida investment properties.

Question 12

What credit score is needed to buy a home in Tampa, Florida?

Accepted Answer

The minimum credit score to buy a home in Tampa depends on the loan program. FHA loans accept scores as low as 580 with 3.5% down, or 500 with 10% down. Conventional loans typically require a 620 minimum, though better rates are available at 740 and above. VA loans have no official minimum credit score, though most lenders look for 580 to 620. Non-QM programs like bank statement loans generally require 620 or higher. Scott Kepler's team reviews your full credit profile and recommends the best loan path.

Question 13

How much down payment do I need to buy a home in Tampa?

Accepted Answer

Down payment requirements in Tampa vary by loan type. VA loans require 0% down for eligible veterans. USDA loans require 0% down for qualifying rural properties. FHA loans require 3.5% down with a 580+ credit score. Conventional loans start at 3% down for first-time buyers. Jumbo loans typically require 10% to 20% down. Florida down payment assistance programs like Hometown Heroes can provide up to $35,000 to cover down payment and closing costs for eligible buyers.

Question 14

Can I buy a home in Tampa with bad credit?

Accepted Answer

Buying a home in Tampa with bad credit is possible depending on how low the score is and what caused it. FHA loans are the most flexible government-backed option, accepting credit scores as low as 500 with a 10% down payment. Non-QM programs may accommodate borrowers with recent credit events. In some cases, Scott Kepler's team will outline a credit improvement plan — at no cost — that can help a borrower qualify within three to six months.

Question 15

What is debt-to-income ratio and how does it affect mortgage qualification?

Accepted Answer

Debt-to-income ratio (DTI) is the percentage of a borrower's gross monthly income that goes toward monthly debt payments, including the proposed mortgage payment. Conventional loans typically allow a maximum DTI of 45% to 50%. FHA loans can allow DTI up to 57% in some cases. VA loans are flexible but most lenders prefer DTI below 41% to 50%. If your DTI is too high, Scott Kepler's team can identify strategies — such as paying down specific debts or adding a co-borrower — to improve qualification before you apply.

Question 16

How long does it take to close on a home in Tampa?

Accepted Answer

A typical mortgage in Tampa closes in 21 to 30 days from the time a complete application is submitted. Government-backed loans like FHA and VA may take 30 to 45 days. Scott Kepler Mortgage Team is known for fast closings in the Tampa Bay market — most clients receive a pre-approval decision within 24 hours, and many close in under 30 days. Having all documentation ready at the start of the process is the single biggest factor in a fast closing.

Question 17

What documents are needed to apply for a mortgage in Florida?

Accepted Answer

To apply for a mortgage in Florida, most borrowers need: the last two years of W-2s or federal tax returns, the last 30 days of pay stubs, the last two to three months of bank statements for all accounts, a government-issued photo ID, and a Social Security number for a credit check. Self-employed borrowers typically substitute 12 to 24 months of bank statements. Scott Kepler's team provides a personalized document checklist based on your specific loan type and income situation.

Question 18

Does mortgage pre-approval hurt your credit score?

Accepted Answer

A mortgage pre-approval requires a hard credit inquiry, which may temporarily reduce your credit score by a few points. However, the FICO scoring model treats multiple mortgage-related hard inquiries made within a 14 to 45 day window as a single inquiry — so shopping multiple lenders during that period has minimal impact on your score. The benefit of knowing your exact buying power and having a pre-approval letter in hand far outweighs the minor, temporary score reduction.

Your Tampa Mortgage Questions, Answered

Why Choose a Local Tampa Mortgage Broker?

Still Have Questions? Let's Talk.

Your Tampa Mortgage Questions, Answered

Why Choose a Local Tampa Mortgage Broker?

Frequently asked questions

Still Have Questions? Let's Talk.