Florida Mortgage : Learning Center

One thing is for sure in this mortgage madness – there are benefits keeping your credit scores at their peak.  We are seeing 2 distinct categories of new home buyers in the Florida mortgage market.

Florida home buyers with excellent credit histories are the ones who not only benefit with lower fixed rate mortgages; but who also can enjoy, smoother and quicker closings.  Usually after receiving signed disclosures from the home buyer, reviewing the appraisal and title commitments, we can order closing packages for our clients here at BeechTree Mortgage, Inc.  In fact, the only hold-up with these Florida home buyers (usually putting 20% or more towards down payment) is when they purchase a Florida home through a short-sale or foreclosure.   These still take time as everyone seems to be negotiating the contracted price up to the closing day. 

For those of you with less than perfect credit; don’t worry.  If you don’t fit into a conventional type mortgage then FHA may be your best option.  FIxed rates, no prepayment penalties, low monthly private mortgage insurancee requiremants are just a few of the benefits.  However, Florida FHA approvals take more time to complete.  You must allow at least 3 weeks from mortgage application to closing.

For more Florida mortgage information please visit our website at www.beechtreemortgage.com or call us now at 888.399.0520. 

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