What are Non-QM loans? Non-QM loans are for borrowers ready to buy a home but may not qualify by traditional standards. When applying for a mortgage, you will either apply for a “QM” or a “Non-QM” loan. A qualified mortgage (QM) is a mortgage that meets specific requirements for lender protection and secondary market …
Vacant Land Lending: What are land loans?
Vacant Land Lending or Land Loans in Florida share many similarities with mortgages. Both are forms of financing used to obtain property; however, unlike a traditional mortgage, there is no home to use as collateral. Many homebuyers and investors consider this option if they have the expertise in building homes from …
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Maximizing your home equity in Florida
How to maximize your home equity The last few years have entirely reshaped the housing market, and for most homeowners, this has resulted in significant accumulated home equity. Home equity is the difference between what you owe on your mortgage and the market value of your home. The average homeowner has more than …
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Mortgage Loan Programs 101: What are the most common loan types?
What are the most common loan types? When buying a home in Winter Park, Florida, finding the right type of mortgage is critical. With so many options available, from 30-year fixed-rate loans to adjustable-rate mortgages (ARMs), Government loans, and other loans for non-traditional borrowers, it's easy to feel …
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Need money? Look at your house for a Cash-Out Refinance!
Are you struggling to keep up with high-interest expenses? Maybe you have credit card debt and are fighting to pay it off monthly. One option you may want to consider is a cash-out refinance. Refinancing can allow you to access funds from your home’s equity to pay off these expenses at a lower interest rate than your …
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Florida Hometown Heroes program receives $100 Million and includes more homebuyers
Florida Housing will receive $100 million in additional funding beginning July 1, 2023, for the Florida Hometown Heroes Housing Program. Before July 1, 2023, the Hometown Heroes program offered eligible borrowers a maximum amount of $25,000 in down payment assistance. Once the changes go into effect, the maximum amount …
