Patty Hoskins is an experienced Mortgage Loan Specialist and a Florida Licensed Loan Originator you can depend on. She can advise you on all aspects of the mortgage market and will work diligently to help you secure the best mortgage rates and terms possible.
She will guide you on the process of finding financing and will be able to refer you to the best programs and lenders available locally as well as throughout Florida and nationwide. Her main goal is to assist you in finding the best lenders, rates, and programs to make Your Dream Home come true.
Patty Hoskins has many years of experience assisting clients with their home financing needs, from Jumbo Loans (generally used for high-end homes) to working hand-in-hand with local entities such as the Flagler County Housing Authority and the City of Palm Coast in programs like the Neighborhood Stabilization Programs I & II, as well as the State Housing Initiatives Partnership (SHIP) Programs. She is also highly experienced with FHA, VA, and Conventional loan programs.
What is a JUMBO Mortgage?
A Jumbo Loan is a mortgage that exceeds the conforming loan limit set by Fannie Mae and Freddie Mac.
For 2025, the conforming loan limit for Flagler County is $806,500.
Any loan amount above $806,500 is considered a Jumbo Loan.
Jumbo mortgages tend to be used for larger, single-family homes. Qualifying for a jumbo loan is typically more demanding than for a conventional loan. There is no private mortgage insurance (PMI) with a jumbo mortgage, so down payments are usually larger, and a credit score of at least 700 is commonly required.
The maximum debt-to-income ratio for jumbo loan borrowers is generally around 45%. Additionally, jumbo borrowers often need six months or more of reserves in their bank accounts after closing, whereas conforming loan borrowers may only need one or two months’ worth of payments set aside.
There are several perks to jumbo mortgages. For example, jumbo loan rates have become increasingly competitive, and mortgage interest on qualified loans is tax-deductible within IRS limits.
FHA LOAN:
Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.
Down Payment:
FHA loans allow you to buy a home with a down payment as small as 3.5%. Other loan programs generally require a much larger down payment.
Other People’s Money:
It’s easier to use gift funds for the down payment and closing costs. In addition, sellers can pay up to 6% of the loan amount toward a buyer’s closing costs.
Flagler County Maximum FHA Loan Limits (2025)
Single: $498,257 Duplex: $637,950 Tri-plex: $771,125 Four-plex: $958,350
Saint Johns County Maximum FHA Loan Limits (2025)
Single: $700,500 Duplex: $896,450 Tri-plex: $1,084,350 Four-plex: $1,347,300
VA Loan:
VA loans are mortgage loans in the United States guaranteed by the U.S. Department of Veterans Affairs. The loan may be issued by qualified lenders. VA loans offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).
Many VA loans are made with no down payment and often carry lower interest rates than conventional loans.
VA Loan Limits:
Veterans with full entitlement have no official loan limit.
For those with partial entitlement, the conforming loan limit for the county applies (Flagler County: $806,500).
I am a Veteran — what do I need to do to obtain a VA Loan?
Patty will assist you with the details, but essentially you are required to complete VA Form 26-1880, a Request for Certificate of Eligibility. If this applies to you, simply fill out the form and mail it to your regional Eligibility Center along with supporting paperwork, including a copy of your DD-214 discharge form.
Conventional Loan
A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.
Be careful not to confuse “conventional” with “conforming,” as the terms have different meanings. However, neither is considered a government loan, despite Fannie Mae and Freddie Mac being under government conservatorship.
Conforming loans generally require a minimum credit score of 620, and typically allow loan-to-value ratios (LTV) up to 95%. Non-conforming conventional loans may allow lower credit scores and higher LTVs.
Programs such as Fannie Mae’s HomeReady® or Freddie Mac’s Home Possible® allow down payments as low as 3%. If the LTV exceeds 80% on a conventional loan, private mortgage insurance (PMI) is required.
Contact Patty Today:
Cell: (386) 931-1777
Email: patty@pattyhoskins.com
Real Estate Broker Serving
Flagler County, St. Johns, Volusia, and Florida
