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Florida's First-Time Home Buyer Specialists
As your WFTV Channel 9 Mortgage Expert, not only do I offer the lowest FHA mortgage rates in town– typically 1% lower than the banks– but I also provide no closing cost options. Our no closing cost options allow qualified buyers to get into a new home with just the required 3.5% downpayment.
What makes us a top-rated FHA mortgage broker?
Top 3 first-time home buyer mistakes
Don’t make these common first-time home buyer mistakes. It could cost you thousands and we see them made everyday.
What do I need to qualify?
When it comes down to it, it’s really just a numbers game and it breaks down like this:
FHA No Closing Cost Options
How will a no closing cost option impact my loan?
Typically, there are standard closing costs associated with getting a mortgage– such as origination charges, title charges, government recording and transfer taxes.
A no closing cost mortgage is not some special promotion and is available every day. Simply put, you get credit from the interest rates available to cover all or most closing costs.
Here’s an example detailing how much would need to bring to closing with and without closing costs.
This example is assuming seller is choosing the title company and paying for the owner’s title insurance policy and that the seller is an individual that is paying the customary doc stamps on the deed. The estimated pre-paids assume a property tax estimate of 1.25% of the purchase price and a home insurance policy of $1200 per year.
Minimum and maximum loan amounts apply. Lender credit towards closing costs will vary based on borrower credit scores.
Borrowers with low credit score may not be able to receive enough lender credit to cover all closing costs and pre-paids. The instant example is assuming a 740+ credit score for a purchase of a single-family residence. Your cash to close assumes that the appraisal fee and home inspection fee are paid directly to the third-party providers prior to closing. All loans are subject to credit approvals that must meet Fannie Mae underwriting guidelines.
Big Bank / Lender
Florida Home Funding
