Florida FHA Mortgage 96.5% financing – Under the Federal Housing Administration or (FHA) Florida mortgage applicants can financing 96.5% of the purchase price with No minimum credit score and No credit score requirements.

Florida USDA Mortgage 102% financing – Under the (USDA) Florida Rural Development program Florida mortgage applicants can purchase a Florida primary residence with 102% financing to include the closing cost to purchase a Florida home.

Florida VA Mortgage 100% financing – Florida veterans and under certain conditions national guards, reservist or surviving spouses can utilize a VA mortgage to qualify for 100% financing. With a copy of the veterans DD214 Florida veterans can purchase a home with 100% financing with no mortgage insurance. VA loans allow the seller to pay up to 6% of the closing cost.

Conventional Mortgage -   Florida conventional mortgage loans are based upon underwriting and loan limits established by Fannie Mae and Freddie Mac which currently allow funding up to 417,000. These Florida mortgage programs require 10-20% down payment and offer the full range of amortization schedules from 10,15,20,30,40 years Fixed Rate or Adjustable Rate Mortgages. Conventional mortgage programs also include specialty programs such as STATED INCOME and (NO DOC LOANS) No documentation requied to qualify.

Jumbo and Supper Jumbo Mortgages – Florida jumbo mortgage loans which are larger than the current conforming mortgage limit of  417,000 set by Fannie Mae and Freddie Mac. Florida Jumbo loans range from 417,000-10, 000, 0000. These jumbo mortgage and super jumbo home loans are not funded by government sponsored programs; these mortgages carry a slightly higher interest rate and normally have additional underwriting requirements.

My Community 100% financing - Fannie Mae’s My Community loan program was designed for Florida first time homebuyers with little or no credit history and little or no money down. The my community Florida mortgage program is not credit score driven and provides Florida homebuyers with fixed rate mortgages up to 40 years. This is a true 100% financing program and the seller can pay up to 6% of your closing cost and prepaid items.

80/20 mortgage loans For Florida Home buyers - Although private mortgage insurance is tax deductible many Florida mortgage clients prefer to avoid PMI when they have less than 20% down payment and still want 100% financing. Borrowers can structure many combination mortgages with an 80% first mortgage and a 20% Second Mortgage or home equity line of credit to avoid (PMI) principal mortgage insurance and still achieve a purchase money mortgage without a Down payment requirement.

Florida Second home loans – Florida Second home mortgages allow Florida homebuyers to purchase a second home in Florida for a little as 10% down payment. Because second mortgage loans are not government insured these mortgages tighter guidelines for debt to income ratio and credit score requirements.

Investment property loans – With adequately documented income and assets Florida investors can purchase between five to ten Florida properties under conforming guidelines.

Portfolio lenders –portfolio lenders such as Florida Savings and Loan institutions and Florida banks portfolio the same loans they originate. Portfolio lenders don’t resell the loans they originate to the secondary market. Portfolio lenders are niche lenders that have their own underwriting requirements which stray away from traditional conventional underwriting guidelines.

Hard Money Lenders – Florida hard money lenders both private and corporate typically loan primary based on the quick sale value of the property that is being financed. Generally speaking most Florida hard money lenders lend up to 65% of the lesser of the appraised value or purchase price.

Foreign National Loans – Foreign nationals can purchase a Florida home as a primary residence or investment property. Typical Foreign national guidelines require 30% down payment with sufficient documented reserves in a Florida bank account.

Manufactured home loans – There are plenty of Florida mortgage programs available for single, double, and triple wide manufactured mobile and modular homes with land. Mortgage loans for manufactured homes include FHA and conventional both 15 and 30year fixed rates. Borrowers can quality to purchase a manufactured home with as little as 3% down. And the seller can pay all of the closing.

Self Employed borrowers – Self employed borrowers can qualify for a Florida mortgage under FHA or conventional guidelines as long as they have been in business for at lease 2 years. Self employed borrowers typically write off all expenses. Self employed borrowers can only use the adjusted gross income for qualifying purposes. Adjusted gross income not to be confused with the annual gross income is the income a borrower reports after all expenses are paid. AGI is the last number on the first page of the Form 1040.

Land Loans – Residential, rural, agricultural and commercial land loans are available to Florida mortgage applicants. Florida land lenders typically require 30% down payment and will refinance up to 50%-70% of the land value.

No Credit Score home loans - Florida mortgage applicants can utilize non traditional Credit to qualify for a Florida mortgage. Sufficient non traditional credit documentation includes, 12 months canceled rent checks, third party letters including, utility, car insurance, cell phone, or 12 months canceled checks proving timely payment history.