What does air in your tires have to do with the Florida mortgage arena?  Last week we finally decided to pull into a local automotive shop and have a professional look into why the steering is tight making left and right turns.  I was already expecting the usual news of having to spend several hundreds of dollars to repair and correct the problem.  I was surprised…

Our specialist, Bob, of Triangle Auto in Merritt Island, explained that all the car needed was to put more air in the front tires.  That’s it.  He did that and didn’t charge us a dime!  Honesty and integrity – what a concept!.  They have earned my trust, my future business and any referrals I can send them.  The same holds true in our Florida mortgage industry.

There are many occasions where it does not make sense for a homeowner to refinance their current Florida mortgage loan.  Even though fixed mortgage rates are at all time lows; please talk to a trusted Florida mortgage professional before jumping into refinancing just to lower the interest rate.  It has to make sense.

Thinking about refinancing your Florida mortgage?  Call your trusted Florida mortgage professional and who knows…  He or she may tell you to just put air in your tires. 

As a Florida first time home buyer down little or no down payment options are frequently requested.  Florida mortgage programs available to any qualified first time home buyer are prevalent.  Consider the following mortgage loan avenues:

Inquire about an FHA home loan.  The down payments are as little as 3.5% of the purchase amount.  Part or all of the down payment can be a gift form a relative.  And an FHA mortgage allows more flexibility with less than perfect credit scores.

Veterans should ask for VA home loan details.  Veterans looking to purchase their first home in Florida can purchase without no down payment at all!.  There is no monthly private mortgage insurance requirement and no prepayment penalty.  Also, sellers can contribute up to 4% of the purchase price towards the Veterans closing costs.  Veterans seeking to purchase a larger and more expensive home should inquire about a Florida VA Jumbo home loan.

Another option is the USDA home loan.  This program is available with no down payment, however, is geographically limited in availability.  Ask your Florida mortgage professional to review areas you are looking to purchase and you too may take advantage of this great program.  If sellers wont contribute towards buyers costs, this program allows you to roll them into the loan amount. 

All of the Florida first time program listed above do require income, asset and credit approval.  Make sure you gather this information together and call your Florida mortgage professional today to see how you can purchase your first home here in Florida.