FLORIDA MORTGAGE LENDERS â€“
FIRST TIME HOMEBUYER PROGRAMS .
FLORIDA HOME LOAN PROGRAMS-Â Florida
first time mortgage applicants will find that a government
insured/guaranteed home loans includingÂ FHA,Â VA,Â andÂ USDAÂ home loans are easier to qualify
for than any other Â first
time Florida mortgage loan program. Details and qualifying information
for first time Florida home buyer loan programs are listed below.
GOVERNMENT FIRST TIME FLORIDA HOMEBUYER
LOANS INCLUDE: Â
(FHA,Â VA,Â USDA)Â Â =Â FLORIDA
According to HUD the definition of a first time Florida
mortgage applicant is one of the following:
- A Florida
first time Florida mortgage applicant is an individual who has not
had an ownership interest in a principal home during the last 3-years.
This includes a spouse (they are considered first-time Florida
- A single
parent is a first time homebuyer if they have only owned with a former
spouse while married.A single parent who has only owned with a former
spouse while married is also considered a first time homebuyer.
- A first time
homebuyer is one who is one who has been a displaced homemaker and has
only owned with a former spouse.
- A first time
Florida homebuyer is one who has only owned a principal Florida home not
permanently affixed to a permanent foundation in accordance with
- A Florida
first time mortgage applicant is an individual who has only owned a Florida home
that was not in compliance with Florida state, local or model building
codes and which cannot be brought into compliance for less than the cost
of constructing a permanent structure.
Dont wait pre approved now for one of ourÂ fist time Florida home loan programsÂ today!Â Â
Â FREE CONSULTATIONÂ ::Â GET PRE APPROVED NOW!
TIME FLORIDA MORTGAGE LOAN PROGRAMS INCLUDE:
- FHA LOANS FOR FIRST TIME
FLORIDA HOMEBUYERS-An FHA loan is a perfect Florida
first time home buyer loan. With an FHA loan Florida first time home
buyers can qualify with minimal down payment and less than perfect
credit, they are the easiest of all Florida home loans to qualify for.
FHA loans are insured by the Federal Housing Administration, a federal
agency within the U.S. Department of Housing and Urban Development
(HUD). The FHA does not loan money directly to Florida first time home
loan applicants, rather the FHA insures privateÂ Florida mortgage lendersÂ against
default through mortgage insurance (MIP). FHA loans are available to
Florida first home buyers and moving up buyers. This first time Florida
home loan program is designed to help creditworthy families with a small
down payment purchase a Florida home.
- VA LOANS FOR FLORIDA FIRST
TIME HOMEBUYERS-Â VA home loans differ from FHA in
that the VA guarantees these loan to eligible veterans for the first
time purchase of a Florida home. The VA guaranty means the mortgage
lender is protected against loss if the borrower fails to repay the
loan. In most cases, no down payment is required and the seller can pay
up to 4% to cover the first time VA home buyer prepaid taxes, insurance
ect, closing cost. With a VA guaranteed loan and the borrower usually
receives a lower interest rate than is ordinarily aavailable with other
Florida mortgage programs
- USDA-FLORIDA FIRST TIME
HOMEBUYER LOAN-Â OneÂ of the most
attractive and flexible mortgage for first time Florida home buyers is
he USDA Guaranteed Rural Housing Program is aavailable to low- and
moderate-income households in designated rural areas of Florida. Under
this program 100% financing is aavailable and no mortgage insurance is
charged to the first time Florida home buyer, making it one of the best
Florida programs aavailable. The 2% USDA Guarantee Fee may also be
financed in to the loan amount. In Florida, the maximum loan amount is
- NO CREDIT SCORE- FIRST TIME FLORIDA HOMEBUYERS-Â As a Florida mortgage company we are proud to
helpÂ would be First time Florida home buyersÂ get approved with
no credit score orÂ minimal trade lines. Unlike most Florida
mortgage lenders we can approve Florida first time home buyers and no credit
loan applicants using nontraditional trade lines from direct service
providers. Direct service providers include electric company, water
company, insurance, cell phone just to name a few.
- BAD CREDIT- FIRST TIMIE HOME
BUYER LOANSÂ Florida Bad
credit first time home buyers and moving up buyers that have suffered a
bankruptcy or foreclosure in the past might qualify for a good Florida
mortgage. First time Florida home Â buyers must wait 3 years after a
Foreclosure and 2 years after a chapter 7 bankruptcy to qualify for a
first time Florida homebuyer FHAÂ loan.Â Otherwise the last resort for bad credit first time Florida home
loan applicants is hard money lender.
- HARD MONEY -FIRST TIME
FLORIDA HOME LOANS-Â Hard money Florida first time home buyer loans are granted based
on the quick sale value of the Florida home. Quicksale value varies
among private Florida hard money lenders but is usually 60-70% (LTV)
loan to value. Private Florida investors base this number off the purchase
price or appraised value, the lesser of the two. We have access to
private Hard money mortgage lenders all over Florida. Florida hard money
lenders charge 3-5 points upfront and interest rates range from 8-12%.
- FIRST TIME FLORIDA HOMEBUYER DOWNPAYMENT ASSISTANCE-Â There are many downpayment assistance programs available for
Florida first time homebuyers in conjunction with the mortgage programs
outlined on this Florida first time homebuyer page. Keep in mind if you
do qualify for a Florida downpayment assistance program you will still
need closing cost. Luckily each of these goverment Florida first time
homebuyer loansÂ FHA,Â VA,Â USDAÂ allow
the seller to credit from 4-6% of the price of the home sales towards
your closing cost and prepaids. You will want to make sure you negotiate
closing cost up front.Â