We work with first time home buyers and owners of existing homes or rental properties in Florida.
Listening to your objectives, we will recommend the most suitable mortgage from a multitude of cost-effective products.
Ask us about loan programs for down payments of less than 20% (as low as zero).
Products Offered by our Lenders
A conventional loan is typically fixed in rate and term, and is not insured or guaranteed by any government agency (such as FHA or VA). It can either conform to guidelines established by Fannie Mae and Freddie Mac (government-sponsored enterprises), or be non-conforming such as a jumbo, portfolio or private mortgage.
Jumbo Mortgages are generally provided to borrowers with high credit scores, and are in amounts above the current $484,350 conventional conforming loan limit.
Portfolio loans are held by mortgage lenders on their own books. Because lenders can set their own guidelines for these loans and do not generally sell them to investors, these products may have features that other mortgages do not. For example, a portfolio lender might allow borrowers to use investments like stocks and bonds as security for a mortgage for which they may not otherwise qualify.
Private Mortgages encompass all other loans that do not fall into the above categories - such as: (i) loans to borrowers with adverse credit history including a prior bankruptcy, foreclosure or short sale, (ii) self-employed borrowers who generate solid business revenues but have high debt-to-income ratios, or (iii) real estate investors with more than ten encumbered properties.
Government agencies like the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), and the US Department of Agriculture (USDA) either insure or guarantee home loans.
An FHA loan is insured by the Federal Housing Administration, tends to have less stringent credit score and debt-to-income requirements than a conventional loan, and is provided by an FHA-approved lender. FHA loans require the monthly payment of mortgage insurance throughout the life of the loan in order to protect the lender from a loss if the borrower defaults.
A VA loan is guaranteed by the United States Department of Veterans Affairs. Only veterans, those on active duty, and their spouses, are entitled to these loans, which can be structured with zero down payment.
A USDA home loan is a zero down payment mortgage for eligible homebuyers who are generally unable to qualify for conventional financing. Guaranteed USDA loans are offered in specially designated rural areas through the Rural Housing Service (RHS), an agency of the U.S. Department of Agriculture.
A reverse or home equity conversion mortgage allows people who are 62 years of age or older to convert a portion of their home equity into cash. This cash is typically used to supplement retirement income and to pay interest, principal, insurance and fees that accrue to the lender. Unlike a traditional mortgage, monthly mortgage payments are paid from equity in the home - rather than from a borrower's income stream. Therefore, no loan repayment is required while the borrower lives in the home. Upon sale of the home, the borrower or their estate will repay the reverse mortgage and all obligations, and any remaining equity belongs to the borrower or heirs.
Foreign national loans are made to non-U.S. citizens who permanently reside outside the U.S. Borrowers seeking to purchase real estate in Florida are required to demonstrate good liquidity and credit history in the country of their citizenship.
- Fixed Rate Mortgages (10, 15, 20, 25, 30 Year and Flexible Year Terms)
- Adjustable Rate Mortgages (3/1, 5/1, 7/1, 10/1 ARMS)
- Interest Only and Other Loan Amortization Structures
- FHA and Fannie Mae Home Renovation Loans
- Competitive Lender Paid Mortgage Insurance Premiums
What TO Expect