Whether you live in Naples and are searching for a home loan or you are considering moving to Naples and are looking for a first home loan, we can help. Core Mortgage Financial works with a number of Naples lenders who can provide a wide variety of loans. Whether you are buying your first home, have sold a home and are downsizing or you are considering building a home, we can help.
Finding the right Naples home loan program is easier than ever. We will work with you to make sure that you find the right loan for your individual needs. Some borrowers prefer a fixed rate mortgage while others would rather take an adjustable rate. We will use plain English to help you understand the drawbacks and benefits of each type of loan.
Understanding Loan Programs
Many home buyers think there is a single loan program. This could not be further from the truth. Here are some of the various loan programs that Naples lenders participate in.
- Fannie Mae and Freddie Mac Loans – Fannie Mae and Freddie Mac are government sponsored enterprise that purchases Naples home loans from lenders. There are maximum limits placed on how much Naples lenders can loan to a borrower. These are known as “conforming loan limits” and are established by Housing and Economic Recovery Act of 2008. In Collier County, Naples lenders may lend borrowers of single family home up to $448,500.
- Jumbo Loans – Naples home loans that exceed $448,500 are known as jumbo loans. These loans are done by lenders who typically specialize in these types of loans. Jumbo loans are often considered more risky and may carry a higher interest rate than a conforming loan. Oftentimes, these loans carry an adjustable rate.
- VA Loans – Loans that are guaranteed by the Veteran’s Administration are known as VA loans. These loans are available to veterans, active service members and in some cases, family members. VA loans require a certificate of eligibility, and may have lower out of pocket costs.
At Core Mortgage Financial, we can help you find the right lender for your Naples home loans. Regardless of what type of loan you are looking for, we have access to many lenders who participate in a variety of programs and we can help you find the right program for your needs.
Call your Naples home loan specialist 239-431-5889 or apply online.
This blog is for informational purposes only. Rates, programs, guidelines are subject to change without notice. The current loan amounts will change in the future. Please call our office for current loan limits. Licensed Florida Mortgage Broker. NMLS #849597