Oct 01 2008
Florida mortgage credit is alive and well
Throughout this mortgage mayhem I have noticed many financial news anchors speaking their thoughts on available mortgage credit or the lack thereof. Perhaps they are referring to sub-prime loans or reduced documentation programs. Of course there have been tremendous underwriting guideline changes over the past year or so; but Florida mortgage credit is still available.
Basically there are 4 types of Florida mortgage programs available to qualified Florida home buyer candidates.
- For conventional home buyers we have Fannie Mae or Freddie Mac type conventional mortgages. Although caution should be exercised to those seeking a new Florida condominium loan or Investment Florida home mortgages.
- Of course, Florida Veterans can still enjoy the many benefits of the Veterans Administration’s VA Home Loan.
- Florida FHA mortgages can be one of the best ways to finance a new Florida dream home especially for Florida first time home buyers.
- And, of course, the guaranteed USDA Rural Housing loan -which allows for no down payment and buyers costs to be rolled into the mortgage loan.
True – liquidity is an issue in the mortgage market. But after watching the local financial news; don’t get discouraged about whether you may qualify for a piece of the American dream of home ownership. There are many mortgage loan programs currently alive and well. Maybe the news anchors were covering subprime and no income docment type mortgages as they have been removed from the industry.
For immediate Florida mortgage loan consideration please contact our Mortgage Professionals at 888.399.0520.
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