Many UK buyers assume that getting a mortgage in the US (particularly in Florida) is either impossible or far more complex than it really is.
The reality sits somewhere in the middle.
This guide explains what mortgage options are realistically available to UK buyers, how US lending differs from the UK, what deposits are typically required, and when paying cash may make more sense.
Can UK buyers get a mortgage in Florida?
Yes. UK buyers can obtain mortgages in Florida, even without US residency or a green card.
However, US lenders assess overseas buyers differently from US residents. The process is more documentation-heavy and deposit requirements are typically higher, but financing is very much achievable with the right preparation.
UK buyers should expect:
- More scrutiny around income and assets
- Larger deposits than in the UK
- Slightly higher interest rates than US residents
Typical deposit requirements for UK buyers
Deposit requirements are one of the biggest differences UK buyers encounter.
While UK residential mortgages may require 5–15% deposits, Florida lenders typically expect UK buyers to contribute:
- 30–40% deposit for most residential purchases
- Higher deposits for investment properties
- Proof that funds are sourced and seasoned
The exact requirement depends on:
- Property type
- Intended use (second home vs rental)
- Lender criteria at the time
How US mortgages differ from UK mortgages
UK buyers often assume US mortgages operate like UK tracker or variable products. In reality, the structure is different.
Key differences include:
- Long-term fixed rates (often 30 years)
- Fully amortising loans (no balloon payments)
- Credit scoring models that differ from the UK
- Earlier rate locks in the buying process
US mortgages are generally more predictable over the long term, but less flexible in terms of early repayment changes.
What lenders look for from UK buyers
US lenders typically assess UK buyers based on:
- Proof of income (UK or international)
- Asset statements (often 6–12 months)
- Credit history (UK credit reports may be used)
- Proof of deposit funds
Lenders are primarily focused on ability to repay, not nationality.
Using cash vs financing as a UK buyer
Many UK buyers choose to purchase Florida property in cash, particularly when:
- Exchange rates are favourable
- Speed and simplicity are priorities
- The property is a second home rather than an investment
However, financing can make sense when:
- Preserving capital matters
- Leveraging long-term fixed rates
- Buying for investment purposes
The decision often comes down to personal risk tolerance rather than what is “available.”
Mortgage considerations for investment property
UK buyers purchasing Florida property as an investment should be aware that:
- Deposit requirements are usually higher
- Rental income may or may not be counted
- Short-term rentals can limit lender options
This is where mortgage discussions often overlap with Florida real estate investing for UK buyers, particularly around yield expectations and cash flow planning.
Common mortgage mistakes UK buyers make
Some frequent pitfalls include:
- Assuming UK mortgage brokers can arrange US loans
- Underestimating documentation requirements
- Leaving financing discussions too late
- Confusing pre-qualification with full approval
Starting mortgage conversations early helps avoid unnecessary delays once an offer is accepted.
How mortgage choices affect the buying process
Mortgage decisions influence:
- How competitive your offer is
- How quickly you can close
- Whether sellers take your offer seriously
This is why understanding how UK buyers can buy property in Florida holistically — not just the mortgage in isolation — matters.
Why UK buyers often work with a Florida-based agent
UK buyers often choose to work with a Florida-based agent who regularly works with UK clients to help coordinate lenders, inspections, and timelines, particularly when buying remotely.
This ensures mortgage requirements are aligned with the purchase contract from day one.
A practical next step for UK buyers considering a mortgage
If you’re a UK buyer weighing up cash versus financing, or unsure what’s realistically achievable based on your circumstances, speaking with a Florida-based agent who regularly works with UK buyers can help you plan before making an offer.
