If you're thinking about buying a home on Florida’s Space Coast, here’s a little insider tip: one of the easiest ways to save big is simply by shopping around for your mortgage.

A lot of buyers don’t realize this, but mortgage rates can vary a lot between lenders. In fact, a Realtor.com® study of nearly two million loans found that comparing offers could save buyers an average of $44,000 over the life of a 30-year loan. That’s not small change—that’s a new roof, a backyard remodel, or college tuition down the line.

And that’s just the beginning.

If you're planning to buy in Brevard County and want to avoid stretching your budget, let’s walk through where those hidden savings are—and how to make the most of them.

You Have More Control Than You Think

Sure, mortgage rates rise and fall with the national economy, but the rate you get is also shaped by your unique financial picture.

When average rates were hovering around 6.6%, buyers with excellent credit were landing rates closer to 6.25%. Those with lower scores? Closer to 7%. That may sound like a small difference, but on a $425,000 home, it adds up to over $60,000 in long-term savings.

So while we can’t control the national market, you can influence what you pay—and it starts with choosing the right lender.

Why Comparing Lenders is a Game-Changer

Here’s where the biggest opportunity hides: interest rates can vary by as much as half a percentage point from one lender to the next.

Let’s break that down for a typical Brevard County buyer purchasing a $425,000 home with 20% down:

• 💰 Monthly savings: About $122

• 💸 Yearly savings: Roughly $1,464

• 🏡 Total over 30 years: Close to $44,000

That’s a life-changing difference—all for making a few extra calls.

Pro tip: Reach out to at least three lenders on the same day and ask for a written rate quote. Look beyond just the interest rate—pay attention to fees, points, and closing costs. If you have a preferred lender, ask others if they can beat or match the offer. A little negotiation can go a long way.

Improve Your Credit or Down Payment—Even a Little Helps

You don’t need a perfect score to get a good loan, but small improvements can make a big impact.

For example, if your credit moves from “good” (660–720) to “very good” (720–760), you could save:

• 📉 About 0.11% off your rate

• 💵 Roughly $24/month

• 🏦 More than $8,000 over 30 years

The same goes for your down payment. Moving from 10% to 20% doesn’t just eliminate PMI (private mortgage insurance)—it can reduce your interest rate too.

On that same $425,000 home, putting 20% down instead of 10% could save you:

• 💸 $281/month

• 💰 Over $100,000 over 30 years

If 20% down feels out of reach, that’s okay. Focus on improving your credit, reducing debt, and exploring local down payment assistance programs that are available here in Brevard County.

Some Options to Explore:

• FHA loans: As little as 3.5% down

• VA loans: $0 down for eligible veterans

• USDA loans: $0 down for qualifying rural areas

• State & local grants: Many programs offer funds for first-time buyers—let’s talk about what’s available in your area

Property Type Plays a Role Too

Your mortgage rate doesn’t just depend on you—it also depends on the type of property you’re buying.

Generally:

• 🏠 Primary residences = lower rates

• 🏡 Second homes or investment properties = higher rates (usually by about 0.5%)

• 🛠️ Manufactured homes, condos, co-ops = may have slightly higher rates

• 🧱 Single-family homes & planned developments = tend to qualify for better terms

If you’re considering a condo near the beach or a manufactured home in Palm Bay, let’s connect early so I can help you ask the right questions and find a lender that specializes in that property type.

More Ways to Save Before and After You Close

Even after you’ve locked in your rate, there are more ways to trim your monthly costs:

• 🔍 Shop for homeowners insurance: Rates can vary widely. Don’t just go with the first quote—get at least 2–3.

• 📦 Bundle policies: Combining home and auto insurance could save you 10–20%.

• 💡 Invest in energy upgrades: Simple improvements like insulation, windows, or efficient appliances can cut utility bills by 10–30%.

• 🧾 Appeal your property taxes: After closing, check your assessment. If it feels too high, you can file an appeal.

• 🔄 Set up auto-pay: Some lenders offer small interest rate discounts or waive fees when you automate your mortgage payments.

All of these small steps can stack up to big savings—especially when combined with a smart mortgage strategy.

The Right Real Estate Agent Can Help You Save Even More

This part matters just as much as choosing a lender: your agent’s negotiating skills can make a real difference in what you pay—and how confident you feel about your purchase.

Here’s how I help buyers across Brevard County every day:

• 📈 Analyze local pricing trends so you know what’s a good deal (and what’s not)

• 🔎 Spot undervalued listings before they’re swarmed with interest

• 🤝 Negotiate for better purchase prices, credits, or seller-paid closing costs

• 🛠️ Use inspection results to request repairs or concessions that lower your out-of-pocket costs

• 📋 Protect your investment with smart contingencies for appraisal and inspections

My goal isn’t just to help you find a home you love—it’s to help you buy it wisely.

The Bottom Line: A Smarter Mortgage = A More Affordable Home

Buying a home in Florida—especially in competitive markets like Brevard County—takes more than just finding the right place. It’s about making strategic financial choices that give you room to breathe and enjoy life after you move in.

So here’s where to start:

1. Compare multiple lenders

2. Improve your credit where you can

3. Explore down payment options

4. Talk with a local expert who’s in your corner

Ready to make a confident move?

Whether you’re buying your first home or upgrading to your forever home, I’m here to guide you through every step—from loan shopping to the closing table.

📲 Have questions? Just reach out! I’m always happy to chat, connect you with trusted local lenders, or run numbers to see what makes the most sense for your goals.

Sources: Realtor.com, BAM, HomeLight