Florida Mortgage : Learning Center

Many Florida first time home buyers have done their homework before seeking their first Florida mortgage.  They have reviewed and corrected any mistakes found on their credit reports.  All while saving and saving, towards that initial down payment investment.  For most first time home buyers, the least amount required for down payment helps to keep more of their savings for future home improvements, furniture, etc.

Veterans can enjoy using your VA Entitlement which allows no down payment for loan amounts up to $417,000.  For other first time home buyers, an FHA mortgage allows you to put as little down as 3.5% of the purchase price. 

Other ways to save out of pocket expenses include negotiating seller contributions towards the first time home buyers closing costs.  Florida VA home loans allow seller contributions of up to 4%; while Florida FHA mortgages allow up to 6%.  This can help by reducing the expenses required at closing to just the down payment.

For more information on first time home buyers mortgage program benefits please call our office at 888.399.0520 or email me directly at steve@beechtreemortgage.com.

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