Mortgage Broker in Coconut Creek, FL

Short answer

Two of every three Coconut Creek home sales in Q3 2026 were condos or townhouses, at a median of $205,500, so most loans here depend on the condo association passing the lender's review as much as on the buyer's credit. QMS Lending is an independent mortgage broker that compares Coconut Creek condo, FHA and conventional loans across 100+ lenders, in English and Spanish.

Coconut Creek home prices as of October 2026

Coconut Creek recorded 143 townhouse and condo sales in Q3 2026 at a median of $205,500, down 4.4% from a year earlier, and 73 single-family sales at a median of $574,000, down 4.3%, per Florida Realtors data published by MIAMI REALTORS (released October 16, 2026). Broward's countywide medians were $250,000 for condos and townhouses and $645,000 for houses, so Coconut Creek is below the county on both.

The condo market is slower than the house market. Condos took a median 72 days to go under contract and sold at 93.0% of the original list price, with 6.8 months of supply. Houses went under contract in a median 25 days with 2.5 months of supply.

68 of the 143 condo sales (48%) were cash. A financed condo offer competes best when the condo review is started early, before the inspection period ends.

Buying in a 55+ condo community

Coconut Creek has a large retiree population: 19.1% of residents were 65 or older in the 2020 census, and many of the city's condo communities are age-restricted. Under the federal Housing for Older Persons Act, a 55+ community keeps its exemption only if at least 80% of occupied units have at least one resident age 55 or older. Here is what that means for financing:

• The buyer: in most 55+ associations at least one occupant must be 55 or older, and the association may require its own approval or interview before closing. Build that time into your contract.
• Younger buyers and co-borrowers: a son or daughter can often co-sign or buy for a parent, but occupancy rules come from the association documents, not the lender. Read them first.
• Second homes: a seasonal owner can finance as a second home if the association allows it; investor loans may be limited if the community restricts rentals.
• Older owners refinancing or buying: if you are retired, income can come from Social Security, pensions or retirement accounts. Some owners also look at a reverse mortgage.

Age-restricted status itself does not stop FHA or conventional financing. The building and the association's finances are what get reviewed.

Condo rules: milestone inspections, SIRS and the lender review

Florida's post-Surfside laws apply by building height, which matters in a city with many low-rise garden condos:

• Milestone inspection (F.S. 553.899): required for condo buildings of three or more habitable stories, by December 31 of the year the building turns 30 (or 25 if the local building official requires it because of salt water), then every 10 years. Phase 2 follows only if Phase 1 finds substantial structural deterioration.
• Structural integrity reserve study (SIRS) (F.S. 718.112): also for buildings of three or more habitable stories, at least every 10 years, covering roof, structure, fireproofing, plumbing, electrical, waterproofing and painting, windows and exterior doors. Existing associations had until December 31, 2025, and in no case later than December 31, 2026.

One- and two-story buildings are outside both rules, but the lender still sends a condo questionnaire about reserves, insurance, delinquencies, litigation and pending special assessments. Ask the seller for the questionnaire, the budget and any milestone or SIRS report as soon as your offer is accepted. If the association fails the review, the unit is non-warrantable and needs a non-warrantable condo loan, usually with more money down. Our Florida condo loan guide covers the full review.

FHA on a Coconut Creek condo

At the $205,500 condo median, an FHA loan with 3.5% down means $7,193 down and a base loan of $198,307, well under the $667,000 Broward FHA limit (as of October 2026). FHA adds a 1.75% upfront premium (about $3,470, usually financed) and annual MIP of 0.55%, or 0.50% with more than 5% down, on base loans up to $726,200.

The catch is approval. FHA lends on a condo only if the project is on HUD's approved list or the unit qualifies for single-unit approval, and many older associations are not on the list. We check before you spend money on an inspection. If FHA is out, a low down payment conventional loan may work on a warrantable condo; see warrantable vs non-warrantable condos.

Budget for HOA dues in the payment. On a lower-priced condo the monthly dues can be a big share of the housing payment, and lenders count them in your DTI.

Coconut Creek taxes and the city's purchase assistance

Coconut Creek's city operating rate is 6.8988 mills. Adding Broward County (5.6658), the school board (6.3200), North Broward Hospital District (1.2422), Children's Services Council (0.4500), the South Florida Water Management District (0.2301) and FIND (0.0288) gives roughly 20.8 mills, about 2.08% of taxable value, using 2025 rates (as of October 2026). Some parcels add the Cocomar water control district (0.1363) or another water management district. On a $205,500 condo that is about $4,280 a year before the homestead exemption; on a $574,000 house, about $11,960.

City of Coconut Creek First-Time Homebuyer Purchase Assistance, run with Broward County's Housing Finance Division, offers up to $80,000 as a 15-year, 0% deferred loan that is forgiven after 15 years, for down payment, closing costs, principal reduction or a rate buydown. Homes (including condos and villas) must be in Coconut Creek and priced up to $568,557. Buyers must meet 80% AMI income limits (the city page shows $64,560 for one person and $92,240 for four), contribute at least 3% (not required for VA), and not have owned a home in 3 years. Funds are first-come, first-qualified when available, and the June 2026 county flyer showed no funds for Coconut Creek at that time; call 954-357-4943 before you count on it.

Florida Hometown Heroes offers up to 5% of the first mortgage ($10,000 to $35,000) as a 0% deferred 30-year second for first-time, income-qualified buyers in eligible jobs. See Hometown Heroes and first-time buyer help in Florida.

Working with QMS Lending in Coconut Creek

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018 (NMLS #1781090). Instead of one bank's rate sheet, we compare your file across 100+ lenders, which matters most when the file has a twist: a jumbo loan amount, self-employed income, a condo that needs a full review, or a buyer who wants to compare FHA and conventional side by side.

The team is bilingual (English and Spanish) and led by Michael Fernandez, NMLS #1491775, President. We hold 4.9 stars across 200+ Google reviews. Rates vary daily; call 305-425-1990 for today's pricing. All loans are subject to credit approval. Equal Housing Opportunity.

For Coconut Creek condos we request the questionnaire and HOA budget on day one, check FHA status, and tell you early if the building needs a non-warrantable loan. Insurance on older units often needs a 4-point inspection; low-lying lots near lakes and canals should be checked on the FEMA flood map.

Down payment help for Coconut Creek buyers

• City of Coconut Creek First-Time Homebuyer Purchase Assistance Up to $80,000, 15-year 0% deferred loan forgiven after 15 years; 80% AMI; price cap $568,557; 3% buyer contribution (not for VA); first-come, first-qualified when funds are available. 954-357-4943. ↗
• Florida Hometown Heroes Up to 5% of the first mortgage, $10,000 to $35,000, 0% 30-year deferred second, not forgivable; first-time, income-qualified buyers in eligible jobs, plus military and veterans. ↗

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