Is there a new home in Florida in your future? The Core Mortgage Team can help you find affordable home loans or mortgages to fit your financial situation. We have many different loan programs, including exclusive offers for first-time home buyers that simplify the home purchase process.
Finding the right home and the right mortgage will set a solid foundation for successful home-ownership. We have the mortgage tools, information and expertise to help you with the decisions you need to make along the way.
Our goal is to satisfy 100% of our borrowers during their mortgage loan experience!
The loan products we offer include:
- 30 year / 20 year / 15 year Fixed-Rate Mortgages
- 10 year/ 7 year / 5 year / 3 year/ 1 year Adjustable Rate Mortgages
- Condo Financing with only 20% down payment
- Interest only loans
- Loans up to 5 Million dollars
- Refinance even if you owe more than your home is currently valued
- Foreign National Financing
- Home Equity Mortgages
New Home Mortgage Basics
- Conventional fixed-rate mortgages
With a fixed-rate mortgage, the interest rate will remain the same for the entire life of the loan, and the payment will be the same each month. The monthly payments on a 30-year fixed rate mortgage will be lower than those on a 15-year fixed rate mortgage because the loan is being paid off over a longer period of time.
However, interest rates are usually lower on a 15-year loan than on a 30-year loan. This means the borrower will pay less interest and pay off the loan completely in only 15 years, but the monthly payment will be higher.
- Conventional adjustable rate mortgages (ARM)
Interest rates on an ARM can fluctuate every year based on the market. They are attractive to potential homeowners because the initial interest rate is lower than the rate on a fixed-rate mortgage. If interest rates rise, however, the mortgage payments will also rise.
ARMs can be a good option for borrowers who plan to own their homes for only a few years, or who are confident they’ll be able to refinance the mortgage at a reasonable fixed rate before interest rates increase.
- VA Mortgages / Mortgages for Veterans
VA home loans are backed by the federal government and designed to help active-duty military personnel and veterans become homeowners at an affordable cost. These mortgages offer unique benefits that simply can’t be matched by conventional and FHA home loans, including no down payments, no mortgage insurance premiums, and more flexible qualifying requirements.
- FHA Mortgages
An FHA mortgage is a government-backed home loan that has less stringent down payment and credit requirements than those for conventional loans. There are maximum loan amounts between $271,050 and $529,000 for single-family homes in Florida, depending on the county where the home is located. And FHA borrowers are required to pay upfront and annual mortgage insurance premiums.
- USDA Home Loans
The U.S. Department of Agriculture also offers a 100%, no-down-payment mortgage. The program is most often called a Rural Housing Loan or a USDA Loan. And, it’s not just a “rural loan.” Because of the way the USDA defines “rural”, there are plenty of suburban neighborhoods nationwide where USDA loans can be used. The USDA will assess a 2% mortgage insurance fee on all loans, which can be added to the loan at the time of closing.
- Jumbo and Super Jumbo Loans
If you’re planning to buy expensive property, a jumbo or super jumbo loan is a viable option. Jumbo mortgages are mortgages between $417,000 (in the contiguous United States) and $625,500 (in “high cost” areas) for a one-unit property). Different limits apply to multi-unit properties. Super jumbo residential mortgages or loans are generally greater than $650,000.
When you’re looking to purchase a home, the Core Mortgage Team is the right choice!
Our specialists in new home loans are standing by to take your call 24 hours a day and 7 days a week. Call us today at (855) 554-CORE or (239) 431-5889 to find home loans and mortgages at the most competitive rates.
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