GOVERNMENT MORTGAGE LOANS-Â Ginnie MaeÂ which is part of HUD guarantees mortgage backed securities insured by these (3) three federal agencies that includeÂ FHA home loans,Â VA home loans,Â USDAÂ loans.Â Mortgage backed Securities guaranteed though these agencies are sold through financial institutionsÂ that trade government securities.
FHA MORTGAGE LOANS-Â The Federal Housing Administration (FHA), which is part of the U.S. Dept. of Housing and Urban Development (HUD), administersÂ various FHA mortgage programs. FHA loans have lower down payment requirements and are easier to qualify than conventional loans. In addition, Florida home seekers with no trade lines can qualify for a home loan using ourÂ No Credit Score Florida home loansÂ using the FHA mortgage program. Â FHA loans cannot exceed theÂ Florida FHA lending limitsÂ . Go to visit ourÂ FHAÂ home buyer Page or ourÂ FHA refinance PageÂ Â toÂ get more information on FHA mortgage programs.Â Â Apply NowÂ for an FHA home loan or use ourÂ quick applicationÂ to receive a no obligation consultation on your next Florida mortgage.Â
VA MORTGAGE LOANS-Â VA mortgage loans are guaranteed by U.S. Dept. of Veterans Affairs. The VA loan guaranty allows Florida veterans and service persons to obtain VA mortgage loans with 100% financing. In addition, Florida homebuyers findÂ Â it is easier to qualify for a VA mortgage than a conventional loan. Florida VA mortgage lenders generally limit the maximum VA loan to $417,000. The U.S. Department of Veterans Affairs does not make loans. The VA it guarantees mortgage loans made by private Florida mortgage lenders. The VA determines your eligibility and, if you are qualified, VA will issue you a certificate of eligibility to be used in applying for a VA mortgage loan. Feel Free to apply now for an FHA home loan.
USDA MORTGAGE LOANS-Â The Rural Housing ServiceÂ Â of the U.S. Dept. of Agriculture guarantees USDA mortgage loans for rural Florida homebuyers and homeowners with minimal closing costs and no down payment. Florida homebuyers can even finance the closing cost into the appraised value.
CONVENTIONAL MORTGAGE-Â Conventional mortgage loans may be conforming orÂ non-conforming.Â Conforming loansÂ have terms and conditions that follow theÂ guidelines of Fannie Mae and Freddie Mac. These two stockholder-owned corporations purchase Florida mortgage loans complying with the guidelines from Florida mortgage lending institutions, packages the Florida mortgage loans into securities and sell the securities to institutional investors. By pooling mortgages, Fannie Mae and Freddie Mac, like Ginnie Mae, provide a continuous aÂ Â flow of affordable mortgage loans for home financing that results in the availability of Florida mortgage loans.
JUMBO MORTGAGE LOANS-Jumbo mortgages are above the maximum loan amount of $417,000 established by Fannie Mae and Freddie Mac. These mortgage loansÂ Â are known as 'jumbo' loans because jumboÂ Â mortgage loans are bought and sold on a much smaller scale and often have a little higher interest rate than conforming mortgages under $417,000. If you are looking for a jumbo mortgage loanÂ Â justÂ complete a short loan request formÂ and we will contact you with their rates and fees.
CONDO LOANS-Â Buying a Florida condo is a great way to own your own home without taking on the maintenance of a single family home. Most Florida home buyers find that condos are often more affordable. When it comes to financing your Florida condo purchase, or refinancing your existing condo we have many condo loan programs available. WeÂ offer a wide variety of Florida condo mortgages with some of the best pricing available. To see for yourself,Â Apply NowÂ for a Florida condo mortgage.
NO CREDIT SCOREÂ LOANS-Â Â As a Florida mortgage company we are proud to helpÂ would be homebuyersÂ get approved for Florida home loans with NoÂ credit score orÂ minimal trade line approvals. Unlike most Florida mortgage lenders we can approve Florida loan applicants using no traditional trade lines from direct service providers. Direct service providers include electric company, water company, insurance, cell phone ect.Â
BAD CREDIT HOME LOANS-Â Florida mortgage applicants that have sufferend a bankruptcy or foreclosure in the past might qualify for a good Florida mortgage. Borrower must waith 3 years after a Foreclosure and 2 years after a chapter 7 bankruptcy to qualify for an FHAÂ loanÂ Â Otherwide the last resort for bad credit borrowers is a Florida hard money lender.Â
HARD MONEY LOANS-Â Hard money mortgages are granted based on the quick sale value of the Florida home. Private Florida investors base this number off the purchase price or appriased 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%.
INVESTOR LOANS-Â With sufficent fico score investor loans are avaialble to investors with sufficent equity and/or downpayment. Investors in current market conditions will need at least 10-30% downpayment to qualify for a Florida investor mortgage.
MANUFACTURED HOME LOANS-Â FHA provides the highest loan to value for homeowners in search of a mortgage for a manufactured or modular home.Manufactured home loan applicants can borrow up to 96.5% of the purchase price of their next Florida manufactured home loan or FHA rate and term refinance a manufactured home loan mortgageup to 97.75% of the homes FHA appraised value.
FIXED RATE FLORIDA MORTGAGES-Â WithÂ fixed rate Florida mortgageÂ loan the interest rate and your Florida mortgage monthly payments remain fixed over the life of the home loan. Fixed-rate Florida mortgages are available for 40, 30, 25, 20, 15 years and 10 years. Generally, the shorter the term of the mortgage loan, the lower the interest rate.
The most popular Florida mortgage loansÂ are 15 and Â 30 year FixedÂ FHA loans. These FHA loans are used to purchase a home with less than 3.5% downpayment andÂ FHA refinance Florida homesÂ up to 97.75% of the appriased value. With the traditional 30-year fixed rate FHA mortgage your monthly payments are lower than they would be on a shorter term loan. If you donâ€™t mind a higher monthly payments a 15-year fixed-rate FHA mortgage allows you to repay your home loan almostÂ twice as fast.
To be one of the the most successfulÂ Florida mortgage lenders,Â we have learned to adapt to consistently chaningÂ Florida real estate market. This is just one reasons our Florida Mortgage Company is still here after ten years, when so many other Florida mortgageÂ companies around FloridaÂ have gone out of business.
We take a long-term approach to whats best for our Florida mortgage applicants.
If you are fortunate enough to be looking to buy a new home or Florida mortgageÂ RefinanceÂ an existingÂ home in the current Florida market, we'll be glad to offer you sound advice and friendly service. Service and advice you can count on from a Florida mortgage lender that's been around forÂ over aÂ decade. Call 1-954-667-9110 or use ourÂ quick applicationÂ for a no-pressure and no-obligation consultation for your next Florida mortgage purchase or refinannce.