Mortgage Broker St. Petersburg FL

St. Petersburg is one of Florida’s fastest-evolving cities — a thriving arts scene, a growing tech sector, walkable neighborhoods, and a waterfront that has attracted a new generation of buyers alongside the retiree community that has long called it home. Whether you’re a first-time buyer breaking into the St. Pete market, a young professional relocating from out of state, or an investor eyeing the city’s expanding rental demand, Lena Polnet is your licensed Florida mortgage broker.

Lena is licensed in both Pennsylvania and Florida (NMLS #17225, Company NMLS #17144) and has 28+ years of experience matching buyers to the right loan program. She works with FHA borrowers building wealth for the first time, conventional buyers moving up, and DSCR investors adding St. Petersburg rentals to their portfolios. Call (215) 364-7171 to discuss your financing.

Home Loans in St. Petersburg FL

St. Petersburg’s housing market has matured significantly — downtown condos, historic bungalows in Kenwood and Old Northeast, and waterfront properties in Snell Isle compete with more affordable starter homes in the southern and central parts of the city. Lena offers lending solutions across the full price spectrum:

• FHA Loans — the most popular entry point for St. Pete first-time buyers; 3.5% down, flexible credit requirements, competitive rates
• Conventional Loans — 3–20% down options for buyers with strong credit; no mortgage insurance required with 20% down
• Jumbo Loans — for waterfront properties and luxury condos in downtown St. Pete and Snell Isle exceeding conforming limits
• VA Loans — zero-down financing for veterans; St. Petersburg’s military heritage makes this a frequently used program
• Bank Statement / Non-QM Loans — for creative professionals, gig economy workers, and entrepreneurs in St. Pete’s growing arts and tech community
• Condo Financing — navigating Fannie Mae warrantable and non-warrantable condo approval is Lena’s specialty in the downtown St. Pete high-rise market

Real Estate Investors in St. Petersburg FL

St. Petersburg’s rental market is robust — driven by young professionals, tech workers, and a steady stream of new residents drawn to the city’s quality of life. Long-term rentals in walkable neighborhoods command strong rents, and the short-term rental market along the waterfront and near downtown generates competitive Airbnb income.

• DSCR Loans — qualify based on rental income, not personal income or tax returns; Lena uses AirDNA market data for STR income documentation
• LLC Vesting — purchase in your LLC or entity for asset protection and portfolio management
• No Tax Return Qualification — investors with complex or inconsistent tax returns qualify on the property’s cash flow
• Cash-Out Refinance — access equity from existing St. Pete rentals to fund further acquisitions
• Multi-Family Financing — 2–4 unit properties in St. Petersburg are strong income producers; Lena finances both owner-occupied and investment multi-family

Call (215) 364-7171 to discuss investment property financing in St. Petersburg.

Florida First-Time Homebuyer Programs

First-time buyers in St. Petersburg can access Florida’s state-level assistance programs, which Lena layers with primary mortgage financing to reduce upfront costs:

• Florida Housing Finance Corporation (FL Housing) — below-market 30-year fixed rates for income-qualified buyers in Pinellas County
• Florida Assist ($10,000 DPA) — deferred second mortgage for down payment and closing costs; zero interest, no monthly payment, due on sale or refinance
• HFA Preferred Grant — 3–4% non-repayable grant layered on FL Housing first mortgage for eligible St. Pete buyers
• Pinellas County Housing Programs — Lena monitors local DPA availability and coordinates county programs with state financing

Income limits apply. Lena evaluates your eligibility and identifies every available source of assistance.

St. Petersburg FL Mortgage FAQ

Is FHA financing available for downtown St. Petersburg condos?

FHA financing requires the condo project to be on the FHA-approved list maintained by HUD. Many downtown St. Pete condo buildings are approved; others require spot approval. Lena checks FHA condo approval status as part of the pre-approval process and identifies alternative financing (conventional or non-QM) when a building doesn’t qualify.

What credit score do I need to buy a home in St. Petersburg with an FHA loan?

FHA loans require a minimum 580 credit score for 3.5% down, or 500–579 with 10% down. Lena works with buyers at various credit stages and can advise on rapid score improvement strategies if needed before applying.

Are DSCR loans available for long-term rentals in St. Pete, or only for Airbnb?

DSCR financing works for both long-term and short-term rentals. For long-term rentals, qualification is based on the market rent (supported by an appraiser’s rent schedule). For STR properties, Lena uses AirDNA data to document projected income. DSCR ratios of 1.0 or above are typically required.

Lena Polnet, NMLS #17225 | Dynamic Funding Solutions, NMLS #17144 | Licensed in Pennsylvania and Florida. This is not a commitment to lend. Loan approval subject to credit, income, and property qualification. Equal Housing Lender.