Mortgage Loan Programs - Florida

If you are thinking about purchasing a home in Florida,
but don't know what mortgage loan is best for you,
You have come to the right place.

Preston Ware
20 Years Experience - Staff Profiles

The vast majority of customers I speak with will choose either a conventional loan or a FHA loan. If you are purchasing larger property, you may fall into the Jumbo category if your loan needs to be larger than $417,000 in Florida.

Here is an example of a particular mortgage loan program that is very popular with first time home buyers nowadays. There are only a few places in the country offering a 1% down program and I have it!

90% of the Loans we write are Conventional or FHA loans.

Conventional Financing  Also known as Fannie Mae and Freddie Mac which are your bread and butter programs where the customer usually puts 20% down to avoid mortgage insurance. Good/Excellent credit customers starting at a 620 credit score.

During the last couple years we are seeing more and more Conventional loans that are 90%, 95, 97% or even 99% financing like the example above.
These options usually have low mortgage insurance rates too but that catch is we need high credit scores for these programs.

During our first conversation will will discuss the pros and cons of Conventional vs FHA financing and I will probably send you an estimate of both so you can compare for yourself.

In the pass few years I have moved towards being more of a Freddie Mac Lender because I feel it has several key advantages. Freddie Mac offers the same great pricing as Fannie Mae but we do have a few key niches worth mentioning here:
1.) Freddie Mac goes a little higher on the debt ratio than Fannie Mae
2.) If you are self employed for only two years but the last year was way better than the first, we have a program for you with a one year look back.
3.) Freddie Mac loves assets. So if you have a hard to do loan but you have a lot of savings, Please give me a call 561-329-0075

FHA Options  Purchase 96.5%financing, 95% with a 5% gift, 97% Rate and term refinance, 85% cash out Refinance

FHA Streamline Refinance  Excellent program fro existing FHA customers. We can do a loan without an appraisal just as long as there is no cash out and the new loan is less than the old loan. Great loan for folks who are upside down on the value of their home.

Jumbo Loans  Jumbo Mortgages are written on more expensive properties with loan amounts higher than $417,000. My employer has excellent options in the Jumbo category as as as the Super-Jumbo category.

Private Money Loans Private Money from Institutional Lenders provides liquidity for  Investors, Realtors and Private Contractors. Loan to Values have climbed and interest rates have dropped within the last two years. Ask me about this.

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