Mortgage Broker in St. Petersburg, FL
247 Home Loans helps buyers and homeowners across St. Petersburg, from downtown high-rise condos to 1920s bungalows in Old Northeast and Kenwood. As an independent broker, we compare purchase and refinance options from more than 20 wholesale lenders, which helps in a city with so many different kinds of homes.
St. Petersburg neighborhoods we serve
- Downtown and the waterfront: high-rise and mid-rise condos, townhomes and lofts
- Historic neighborhoods: Old Northeast, Historic Kenwood, Crescent Lake, Old Southeast and Roser Park
- Waterfront and bayside: Snell Isle, Shore Acres, Coquina Key and Jungle Prada
- West and north St. Pete: Tyrone, Disston Heights, Euclid-St. Paul, Meadowlawn and Riviera Bay
What to plan for when buying in St. Pete
- Condos: Florida's condo safety laws require milestone inspections and reserve studies for many older buildings. A building with special assessments, low reserves, litigation or a high share of investor owners may be non-warrantable, but non-QM and portfolio loans can often still finance it. We review the association early.
- Older and historic homes: insurers often ask for 4-point and wind mitigation inspections, and exterior changes in local historic districts may need city review. Renovation loans can sometimes fund repairs along with the purchase.
- Flood zones and storm history: Hurricane Helene's storm surge flooded several low-lying St. Petersburg neighborhoods in September 2024. Check the flood zone, elevation and the home's flood history, and get flood insurance quotes before you commit.
- Small multifamily: duplexes, triplexes and fourplexes can be financed as a primary residence or an investment.
DSCR loans for St. Petersburg investors
A DSCR (debt-service coverage ratio) loan lets you qualify on the property's rental income instead of your personal income, which suits many real estate investors, including self-employed investors. DSCR loans are for investment properties only, not a home you'll live in, and the loan can often be held in an LLC, subject to lender guidelines. St. Pete's year-round demand from renters makes single-family homes, small multifamily and eligible condos common DSCR purchases. Rental rules vary by city, county, zoning and HOA or condo association, so confirm what's allowed for a specific property before counting on rental income.
Working with a Tampa Bay-based broker
247 Home Loans is a Florida-wide mortgage broker with its home base in Tampa Bay; our office is in Riverview. As an independent broker, we compare purchase and refinance options from more than 20 wholesale lenders. Most of the process happens by phone and online, and closings are coordinated with your title company.
Loan programs we offer
- Conventional and jumbo purchase and refinance
- FHA, VA and USDA (in eligible areas)
- Bank-statement and other non-QM loans
- DSCR loans for investors
- Construction loans
Your loan officers
- Chad Morris, Owner & Loan Officer, NMLS #352539
- Dave Rodgers, Loan Officer, NMLS #363840
Frequently asked questions
Can I get a loan on a downtown St. Pete condo?
Usually, yes. If the building meets Fannie Mae or Freddie Mac guidelines, conventional, FHA or VA financing may work. If it's non-warrantable, non-QM or portfolio lenders can often still finance it. We review the association documents early.
Can I finance a historic home in St. Petersburg?
Yes. Older homes may need 4-point and wind mitigation inspections for insurance, and needed repairs can affect the appraisal. Renovation loans can sometimes fund repairs along with the purchase.
Is flood insurance required in St. Petersburg?
It depends on the flood zone. If the home is in a FEMA special flood hazard area and you have a federally backed loan, flood insurance is required. We'll check the zone and help you get quotes early so insurance costs aren't a surprise.
Can I buy a duplex in St. Pete and live in one unit?
Yes. Owner-occupied 2-4 unit homes can be financed with conventional, FHA and VA loans, and part of the expected rent may count toward qualifying, subject to program guidelines.
Can I buy a St. Pete rental with a DSCR loan?
Yes. DSCR loans qualify on the property's rental income instead of your personal income, are for investment properties only, and can often be held in an LLC. Short-term rental rules vary, so confirm what's allowed first.
Other areas we serve
Florida-wide broker; home base Tampa Bay.
Talk with Chad about your St. Petersburg purchase
Call or text Chad at 813-495-9542, or apply online. Florida-wide broker; home base Tampa Bay. No obligation, and no credit check just to talk.