If you’re shopping for a home in Tampa right now, you’ve probably realized something pretty quickly: finding the right home is only half the battle—the other half is choosing the right mortgage program to match your budget, lifestyle, and long-term goals.
And here’s the truth we tell our clients every day: the “best” loan isn’t universal. The best loan is the one that fits you.
We’re Emeri and Joe Lewkowicz, and with 40+ years of combined experience helping Tampa buyers navigate this market, we’ve seen every type of loan work beautifully—and we’ve also seen buyers pick the wrong one and feel stuck later. So let’s break it down in a simple, real-world way.
Step One: Start With Your “Buyer Profile,” Not the Loan Type
Before you choose FHA, VA, Conventional, or Jumbo, we always ask our buyers a few key questions:
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How much do you have saved for a down payment and closing costs?
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What does your credit look like today?
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Is this your first home, a move-up home, or an investment property?
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Do you want the lowest payment now—or the lowest cost long-term?
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How competitive does your offer need to be in your target neighborhood?
Because in Tampa, the mortgage you choose can impact more than just your interest rate—it can influence how strong your offer looks to a seller.
FHA Loans: Great for First-Time Buyers Who Want Flexibility
An FHA loan is one of the most common programs we see with first-time buyers in Tampa.
Why buyers love FHA:
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Lower down payment options (as low as 3.5%)
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More flexible credit requirements compared to many conventional loans
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Can be a great stepping stone into homeownership
What to watch out for:
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FHA loans come with mortgage insurance (and it can be costly over time)
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The property has to meet certain condition requirements
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In a competitive market, FHA offers can be seen as less favorable than conventional—depending on the seller and the home condition
Our Tampa insight: FHA works really well in neighborhoods where homes are in solid condition and pricing is reasonable—but if you’re trying to win a bidding war, we may recommend exploring conventional options too.
VA Loans: One of the Best Benefits for Veterans and Active Military
If you qualify for a VA loan, you’re holding one of the strongest mortgage tools available.
Why VA is a game-changer:
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No down payment required in many cases
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No monthly mortgage insurance
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Competitive interest rates
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More forgiving guidelines overall
What to keep in mind:
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VA appraisals have standards that can impact older homes or fixer-uppers
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Not every listing agent understands VA loans (we help with that)
Our Tampa insight: We’ve helped many VA buyers win in competitive areas by pairing the loan with the right offer strategy—strong terms, clean communication, and smart negotiation. VA is not a “weak” offer when it’s handled correctly.
Conventional Loans: The Most Versatile Option for Tampa Buyers
A conventional loan is often the go-to for buyers who have stronger credit and want flexibility.
Why conventional is so popular:
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Can work for primary homes, second homes, and sometimes investments
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Down payments can be as low as 3% for qualified buyers
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Mortgage insurance can often be removed later (unlike FHA)
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Stronger appeal to sellers in competitive situations
Where conventional shines:
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When you want a clean offer with fewer property restrictions
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When you’re buying a home that may not qualify for FHA
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When you want more control over long-term costs
Our Tampa insight: In multiple-offer situations, conventional financing often gives buyers a competitive edge—especially when paired with a strong pre-approval and solid lender support.
Jumbo Loans: For High-Value Homes and Luxury Neighborhoods
If you’re purchasing above standard loan limits, you’ll likely need a jumbo loan.
Why buyers choose jumbo:
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Designed for higher-priced homes (common in parts of South Tampa, Davis Islands, Palma Ceia, and waterfront areas)
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Allows buyers to purchase premium properties without splitting financing
What jumbo loans usually require:
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Strong credit
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Higher cash reserves
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More documentation
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Sometimes a larger down payment
Our Tampa insight: Jumbo buyers often succeed fastest when they’re fully organized upfront. In higher-end Tampa markets, sellers expect serious, well-prepared buyers—and jumbo approval strength matters.
The Bottom Line: Your Mortgage Program Should Match Your Strategy
Choosing a mortgage isn’t just a financial decision—it’s a homebuying strategy.
At The Lewkowicz Group, we help Tampa buyers choose the right program based on:
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your comfort level
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your monthly budget
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your offer competitiveness
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your long-term plans
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the neighborhood and home type
Because the goal isn’t just to get you into a home—it’s to get you into the right home with the right payment, without surprises later.
If you’re thinking about buying in Tampa and want a clear plan (not confusing lender jargon), we’d love to help you map it out.
Let’s make your next move a smart one.
