Mortgage Loans in Boca Raton, FL: FHA, Conventional, Investor and HomeTown Heroes
You can get a mortgage in Boca Raton with William A. Ledesma, a Florida-licensed loan officer at Bold Mortgage, a division of PRMG. He works with buyers in Boca Raton and across Florida by phone, video and e-sign, alongside local agents. Your options include FHA, conventional, jumbo, investor and DSCR loans, plus Florida HomeTown Heroes help for eligible first-time buyers.
Buying a home in Boca Raton: what to know
Boca Raton is the southernmost city in Palm Beach County, just north of the Broward line. Much of its look comes from architect Addison Mizner, whose Mediterranean style shaped the city in the 1920s and lives on at The Boca Raton resort and at Mizner Park, the downtown shopping and dining district. Beach parks include Red Reef Park and Spanish River Park.
Boca is a business and education hub. Florida Atlantic University has its main campus here, and Lynn University is in the city too. Boca Raton Regional Hospital is a major employer, and companies like Office Depot and ADT are headquartered here. The first IBM personal computer was built in Boca, and that old IBM campus is now an office park.
Neighborhoods range a lot. East of the Intracoastal you find waterfront estates and oceanfront condos. Royal Palm Yacht and Country Club is known for large homes on deep water. Camino Gardens, Old Floresta and Boca Square are older, close-in neighborhoods with mostly single-family homes. Spanish River has a mix of homes and condos near the beach parks. West of the city, many gated golf and country club communities have a Boca Raton mailing address but sit in unincorporated Palm Beach County, which can change taxes and rules.
Housing includes luxury single-family homes, high-rise and mid-rise condos, townhomes, and many 55+ and country club communities. Buyers include families, retirees, seasonal residents with a home up north, executives relocating from the Northeast, and FAU faculty and staff. Price points run high, so jumbo loans come up often.
FHA loans in Boca Raton
FHA lets you buy with 3.5% down and a 580+ credit score, or 10% down with a score of 500 to 579, though lender overlays may apply. The 2026 FHA limit for a one-unit home in Palm Beach County is $667,000. Limits are higher for 2 to 4 unit properties.
FHA includes an upfront mortgage insurance premium, usually added to the loan, plus a monthly premium that stays for the life of the loan if you put less than 10% down.
In Boca Raton, FHA is most useful for condos, villas and townhomes under the limit. The condo project must be FHA-approved or the unit must qualify for single-unit approval, and many 55+ and older buildings are not on the approved list. Older homes must meet FHA property standards, so repairs flagged by the appraiser must be done before closing.
Conventional loans in Boca Raton
Conventional loans allow 3% down for qualifying first-time buyers and 5% down for others. PMI applies below 20% down and can be removed once you build enough equity. The 2026 conforming limit in Palm Beach County is $832,750 for one unit.
Because many Boca Raton homes sell above that, jumbo loans are common. Jumbo usually means a larger down payment, stronger credit and more cash reserves after closing. Conventional loans also work for a second home, which matters in a city with many seasonal owners. For condos, the lender checks if the building is "warrantable," looking at reserves, insurance, special assessments and how many units are rented.
Investor and DSCR loans in Boca Raton
A DSCR loan qualifies you on the property's rent instead of your income. Plan on 20 to 25% down. You can buy in an LLC, which helps self-employed investors and people building a portfolio. Conventional investment and bank statement loans are other options.
Rental demand in Boca comes from FAU and Lynn students and staff, hospital workers, people relocating for jobs, and seasonal renters who come for the winter months. Many condo and country club communities limit leasing, require approval of tenants, or set minimum lease terms. Read those rules before you buy, and check city zoning and licensing rules before buying for short-term rental.
Florida HomeTown Heroes and down payment help in Palm Beach County
Florida HomeTown Heroes is a Florida Housing Finance Corporation program for first-time buyers, which generally means you have not owned a primary residence in the past 3 years. You must work full time for a Florida-based employer.
The program provides 5% of your first mortgage, with a $10,000 minimum and $35,000 maximum, as a 0% interest second mortgage with no monthly payment. You repay it when you sell, refinance, transfer the deed, pay off the first mortgage, or stop living in the home. You need a 640 minimum credit score and homebuyer education, and Palm Beach County income limits apply. Given Boca prices, it usually fits condos, villas and townhomes best.
Funding comes out in rounds and can run out, so William checks availability the day you are under contract. A fully signed contract is needed to reserve funds. Learn more at Florida Housing.
Palm Beach County also gets SHIP (State Housing Initiatives Partnership) funds for local down payment help, run by the Palm Beach County housing office. Ask whether the City of Boca Raton has its own buyer help open as well.
Insurance, flood and condo rules that affect your loan in Boca Raton
Hurricane wind coverage is part of every policy, and it costs more east of I-95 and near the water. For older homes, insurers want a 4-point inspection and a wind mitigation report. Impact glass and a newer roof make a real difference in price. If private companies will not cover the home, Citizens Property Insurance is the state backstop.
Homes on the barrier island, along the Intracoastal and on canals are often in FEMA high-risk flood zones. If yours is, and the loan is federally backed, flood insurance is required.
Boca Raton has many condo buildings that are three stories and up, so Florida's post-Surfside rules matter. Those buildings need milestone inspections and structural integrity reserve studies, and some associations have raised dues or passed special assessments to fund repairs. A building with open safety issues or weak reserves may not qualify for conventional or FHA financing. In country club communities, also ask about any required membership fee, since that cash shows up in your funds to close.
Your action plan
- Book a clarity call. Book a call with William. No hard credit pull to start.
- Get pre-approved. Start your pre-approval and gather income, asset and reserve documents, which matter for jumbo.
- Pick the program. FHA, conventional, jumbo, second home, DSCR or bank statement.
- Check HomeTown Heroes and local help. If you are a first-time buyer, see what Palm Beach County and city funds are open.
- Shop with a local agent. Pick an agent who knows Boca condo rules, club fees and which communities are inside city limits.
- Lock and close. Lock your rate, clear inspections and appraisal, and close.
Boca Raton mortgage FAQs
Where can I get the best conventional loan rates in Boca Raton?
Rates depend on your credit, down payment, property type and loan amount. Compare Loan Estimates from lenders on the same day. Bold Mortgage offers multiple loan programs, and William lays them out side by side so you can compare the full cost.
How do I qualify for an FHA loan in Boca Raton?
You generally need a 580 score for 3.5% down, steady income, and a primary residence within the 2026 Palm Beach County FHA limit of $667,000 for one unit. For a condo, the project must be FHA-approved or the unit must qualify. Approval depends on your credit, income, assets and the property.
Where can I apply for investor or DSCR mortgage programs in Boca Raton?
You can apply with William at Bold Mortgage. He looks at the rent, the association's leasing rules, insurance and your down payment, and tells you which program fits the deal.
Can I use Florida HomeTown Heroes in Boca Raton?
Yes, if you are a first-time buyer working full time for a Florida-based employer, you meet Palm Beach County income limits, and you have at least a 640 score. William checks funding once your contract is fully signed.
Do I need a jumbo loan to buy in Boca Raton?
Only if your loan amount is above the 2026 conforming limit of $832,750 for one unit. Many condos, villas and townhomes fit under it, while many single-family homes east of I-95 and in country club areas do not.
About William A. Ledesma
William A. Ledesma is a Florida licensed mortgage loan officer and Florida HomeTown Heroes specialist with Bold Mortgage, a division of PRMG. He helps buyers, homeowners and investors in Boca Raton and across Florida, in English and Spanish. Every client gets a clear action plan from pre-approval to closing.
- Call or text: (786) 387-3676
- Email: will@williamledesma.com
- Office: 4960 SW 72nd Ave, Suite 400, Miami, FL 33155
- Client reviews: Read reviews from William's clients
More Florida mortgage guides: Coral Springs, Pompano Beach, Delray Beach, Boynton Beach. Lea esta guía en español.
William A. Ledesma, NMLS #1232716. Bold Mortgage is a division of Paramount Residential Mortgage Group, Inc. (PRMG), NMLS #75243, Florida Mortgage Lender Servicer License MLD1608. Equal Housing Opportunity. This page is general information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines and property eligibility. Loan limits, program terms and down payment assistance funding can change without notice.
Boca Raton
