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USDA Mortgage Source Florida

100% USDA Rural Housing Loans, Rural Development Mortgage FL

By Usda Mortgage Source | Mortgage Broker
or Lender in Jacksonville, FL
  • Orange City, Deland FL - First Time Buyer Programs

    Posted Under: Home Buying in Orange City, Financing in Orange City  |  July 23, 2013 4:28 PM  |  905 views  |  No comments

    USDA Mortgage Source FloridaPurchasing your first home in Florida can be exciting and a little nerve racking at the same time. Just mention the thought of buying your first house and suddenly there are real estate professionals and mortgage lenders who seem to appear out of nowhere. Yet knowing you want to buy your first home and finding out how/if you can will be two very different things.Can you get pre approved for a mortgage? Is your credit good enough? How much money will you need to put down? What mortgage program? 100% USDA, FHA, VA or Conventional mortgages? These are all great questions and the fact that you're asking them mean you're ready to take the next step: getting pre qualified as a first time home buyer.  Some great fist time buyer tips and advice can be found here.  Orange City, Deland, Deltona, and all of Volusia county has a tremendous advantages for first time home buyers right! The availability of quality homes on the market and the current low interest rate environment allows home buyers to purchase and afford more than a few years ago. 

    To get pre approved for a home loan, you'll need to speak with one of our specialist who will walk you through the process:

    • Initial Interview
    • Complete your application
    • Review your loan options and approved amount

    Initial Loan Interview:

    First time home owners need a quality loan officer, someone who knows how to communicate the pre approval process well and can answer your questions with ease. The loan advisor will want to know how much you feel comfortable paying each month and often times that amount is similar to what you're currently paying in rent each month.  The loan officer will talk about your goals such as how long you intend to own your first home or if there is a particular area of town or school district in which you’d like to live.

    Complete an Loan Application:

    After the initial review, you'll be asked to complete a loan application so the loan officer can get a firm grasp on your present situation such as how long you have been on your job, your gross monthly income as well as the all-important credit report. Once you apply, your loan officer will review your application and credit report and prepare some options for you to consider.

    Review Your Mortgage Options:

    As a Florida first time home buyer you will likely be surprised at how much home you can actually afford given todays historic affordability index. The affordability index is a combination of housing prices, current interest rates and gross monthly income.

    Your loan officer will review your options for you to include not just how much you can afford but also how much you'll need to provide as a down payment and closing costs when you finally close on your first home. Finally, your loan officer will provide you with your very first Pre Approval Letter, a formal letter that indicates to a seller that you are serious about buying your first home, you have applied for a mortgage and your credit report has been reviewed.

    Are you a first time buyer in Volusia county looking for 100% financing no money down? Read about the USDA home loan at www.usdamortgagesource.com or call 904-302-6060

    Serving all Volusia County Daytona Beach, DeBary, DeLand, Deltona, Edgewater, Holly Hill, Lake Helen, New Smyrna Beach, Oak Hill, Orange City, Ormond Beach, Pierson, Ponce Inlet, Port Orange

 
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