8 key requirements of an FHA loan An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). It is particularly popular with first-time homebuyers in Florida because it allows borrowers to finance homes with low down payments, sometimes as low as 3.5% of the sales price. Borrowers with lower credit …
What is Down Payment Assistance?
What is Down Payment Assistance? Of the many steps to homeownership, the one that is often the most difficult for credit-worthy first-time homebuyers is coming up with funds for a down payment and closing costs. For example, borrowers with high student loan payments or low to middle income may not have extra cash to …
Fannie Mae and Freddie Mac offer $2500 credit for Florida families
Fannie Mae and Freddie Mac offer $2500 credit for lower income families Fannie Mae and Freddie Mac have announced a $2,500 credit for low-income borrowers to make homeownership more accessible. Fannie Mae and Freddie Mac recognize that down payment and closing costs remain a significant barrier to homeownership for …
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Get rid of debt with a cash-out refinance
What even is a cash-out refinance? A cash-out refinance can provide a valuable solution if you're a homeowner with sufficient equity and some debt to pay off. A cash-out refinance is a home loan that allows you to refinance your existing mortgage while taking out additional cash beyond your loan balance if you have …
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What is an escrow holdback?
What is an escrow holdback, and how can it benefit you? Purchasing a home can be an exciting experience. Still, it also comes with challenges, especially when dealing with a delayed closing due to repairs and improvements discovered during the homebuying process. Sometimes, the loan closing could be contingent upon …
Florida Hometown Heroes program releases $36 Million
The Florida Hometown Heroes Program [contact-form-7 id="b6570a4" title="Hometown Heroes"] The Florida Hometown Heroes (HTH) program is a highly successful initiative aimed at helping eligible first-time borrowers who live and work in Florida. The Hometown Heroes program was initially introduced to assist individuals …
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