FAQs

We provide a comprehensive range of mortgage loan options to cater to diverse needs. Our offerings include conventional loans, FHA loans, VA loans, USDA loans, and jumbo loans. These various loan types are tailored to accommodate different situations, whether you're a first-time homebuyer, a veteran, or someone seeking flexible down payment options.

The minimum credit score requirement varies depending on the loan type you're interested in. Generally, conventional loans typically require a score of 620 or higher. FHA loans may be accessible with scores as low as 580. VA and USDA loans often have more flexible credit score requirements. We recommend discussing your specific situation with one of our loan officers to determine the most suitable options for your circumstances.

Down payment requirements can differ based on several factors. Conventional loans usually require between 3% to 5% down. FHA loans may allow for as little as 3.5% down. VA and USDA loans often permit 0% down payments. The exact amount can be influenced by factors such as loan type, credit score, and whether the property will be your primary residence or an investment property.

Closing costs encompass various fees associated with finalizing your mortgage. These can include loan origination fees, appraisal fees, title insurance, and recording fees. Typically, closing costs range from 2% to 5% of the loan amount. During the application process, we will provide you with a detailed estimate to ensure you have a clear understanding of what to expect.

The mortgage approval process duration can vary. The timeline depends on factors such as the complexity of your financial situation and the type of loan you're applying for. Our team strives to make the process as efficient as possible, keeping you informed at each stage of the approval process.

Yes, it's possible for self-employed individuals or those with non-traditional income sources to qualify for a mortgage. However, additional documentation may be required, such as tax returns, profit and loss statements, or bank statements, to verify your income. We can assess your specific situation and guide you through the best available options.

Pre-qualification provides an initial estimate of your potential borrowing capacity based on basic financial information you provide. Pre-approval, on the other hand, involves a more thorough review of your financial situation, including credit checks and income verification. A pre-approval gives you a stronger position when making offers on homes as it demonstrates a higher level of financial readiness to sellers.

Yes, we offer various refinancing options designed to help you potentially lower your interest rate, shorten your loan term, or access your home equity. Refinancing can be an effective strategy if you're looking to reduce your monthly payments or pay off your home more rapidly. We can discuss your goals to determine if refinancing is a suitable option for your situation.

Mortgage rates in Florida fluctuate based on market conditions, loan types, and individual financial profiles. For the most current and accurate rates, we recommend contacting our office directly. We can provide you with up-to-date information and assist you in finding a loan option that offers the most favorable terms for your specific needs and circumstances.

Florida does offer several state-specific programs aimed at assisting homebuyers, particularly first-time buyers. These programs may include down payment assistance and reduced interest rates, designed to make homeownership more attainable. Our team can help you explore these options and determine if you meet the qualification criteria for any of these beneficial programs.