Mortgage Loan Programs
The following is a partial list of programs offered by Advantage Mortgage of South Florida, Inc with a brief description of the key elements.
FHA- If you don't have a down payment or if your credit history has a few blemishes, then maybe an FHA Loan is the right loan for you. An FHA Loan is a mortgage that is insured by the Federal Housing Administration. There are many factors involved in determining whether an FHA Loan is better for you than a Conventional Loan.
FHA Streamline Refinance- The FHA Streamline Refinance program allows people to easily refinance their existing FHA mortgage. The purpose of the FHA Streamline Refinance Loan is to allow you to refinance your mortgage without all of the paperwork, underwriting qualifications, appraisal, or time normally necessary when refinancing a home loan.
First Time Homebuyer loans- Congratulations on your decision to buy your first home. Owning a home is a wise investment. Building equity in your home provides financial stability that you cannot acquire by renting. The process of buying your first home can be overwhelming. You probably have many questions. We can help you sort out all of your financing inquiries.
Getting pre-approved is the first step in the buying process
Cash out or Rate & Term Re-financing-If you financed your home during a period of higher interest rates we can place you in a lower rate program or if you have equity that you need to access for debt consolidation or home improvement.
Second Home Financing- A wide variety of plans are available to assist buyers with the purchase of a vacation home, providing up to 90% of the purchase price, depending on the amount. Payment terms include 15 and 30 year fixed rate, balloon loans and a typical selection of ARM products.
Investor/Rental Property-Some buyers intend to place the property purchased in a seasonal rental program to generate cash flow income. In addition to traditional products for this purpose Advantage Mortgage of South Florida, Inc offers programs which will allow the use of the projected rental income to offset the payment for qualifying purposes. A wide range of loan amounts is available with differing equity requirements and certain programs will allow multiple property ownership. No Income Verification- Advantage Mortgage of South Florida, Inc offers financing to self-employed borrowers or special situation individuals who do not wish to provide tax returns, pay-stubs or company P&L's to confirm income. We accept income as stated and only confirm employment to the extent of position and length of time. These programs will advance up to 80% of the appraised value.
Reverse Mortgage-A Reverse Mortgage is a special HUD Insured loan program available to Senior American Homeowners to convert equity in their homes to cash. To qualify for a Reverse Mortgage you must be 62 years of age or older and own your own home. A reverse mortgage gets its name because the payments are "reversed" from the lender to the borrower. The borrower does not have to pay the money back while they live in the home. Instead, the loan must be repaid when the borrower passes away or sells the home. Reverse Mortgages can help homeowners who have substantial equity but little cash to stay in their homes and still meet their financial obligations.Call our Specialists to determine if a reverse mortgage is beneficial for your circumstances.
Home Equity Loans- Advantage Mortgage of South Florida, Inc can provide equity financing for up to 90% of the appraised value either in a first or second lien position.
For more Information on any of the above use our E-mail address apply@advantagemtg.net Or Contact us at 941.954.7770 to speak with a mortgage professional to help you make the right choice.
|
