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Florida Mortgage Lender, Florida Mortgage, FLorida Home Loan

By Thomas Martin

Mortgage and Lending with Charles Rutenberg Realty LLC

September 05, 2008 07:56 AM

Providing Mortgage Services in Florida

To endure and be the most successful Florida mortgage lender, we have learned to adapt to a Florida real estate market that changes quickly. One reason 1st Continental Mortgage is still here after ten years, when so many other Florida mortgage businesses around the state have closed their doors, is how we treat our Mortgage clients.

We really do take a long-term view.

About five years ago, adjustable rate mortgages with five year fixed periods were the rage with most Florida Mortgage lenders.

However, not with our team.

Why take an ARM when interest rates were near historic lows?

As a mortgage lender in Florida, over the last ten years we've earned a reputation for listening to our clients and for recommending the mortgage solution that is best for their long-term home ownership goals. As a result, we receive a large number of new Florida mortgage loan business by referral from past clients and our real estate partners.

If you are fortunate enough to be looking to buy a home or Refinance an existing one in the current market, we'll be glad to offer you sound advice and friendly service. Service and advice you deserve from a Florida mortgage lender that's been around for a decade and will be around for the long haul. Call 1-800-570-0448 or use our quick application for a no-pressure and no-obligation quote on your Florida mortgage or refinance.

We are a Resourceful Florida Mortgage Lender with excellent Conventional and FHA Mortgages for First Time Home buyers

Although many lenders are tightening credit standards and demanding higher FICO scores and more money down, we still have excellent conventional home loan programs with no money down for 1st time home buyers. In the current Florida real estate market, selling Realtors® are often eager to offer 3% and even 6% toward closing costs to coax an offer from our FHA approved Home Buyers in Sarasota and other cities throughout Florida.

Don't let lack of a downpayment keep you on the sidelines in a prime Florida real estate market that offers some of the best buying opportunities in years. Call 1-800-570-0448 to discuss your first time home buyer mortgage options with a representative from the premier mortgage lender in Florida. You can even use our quick application for a no-hassle consultation. Even if you're not a first time home buyer, we have excellent fixed rate home loans with terms from 10 to 50 years.

The Mortgage Lender in Florida

Excellent Refinance Options For Florida Homeowners

As a Florida mortgage lender, we know well how quickly the world can change. Sometimes you outgrow your mortgage before you've outgrown the home that you financed.

Whether you need to make the move from a dangerous adjustable rate mortgage to a low Florida fixed rate mortgage or just want to do a refi to pull some cash out, chances are good we can help. We will be happy to review your present mortgage financing to ensure you're getting the right solution and that you do not have any prepayment penalties. For some clients, a Second Mortgage or home equity line of credit is a better way to create a financing solution. To discuss your situation with an outstanding mortgage lender who actually is in Florida, call 1-800-570-0448 or use our secure quick application form.

If you have a Bad Credit home loan, have been paying on time, and are ready for a low interest rate alternative, don't wait until your change date and attempt to pay your higher payment. Call us today at 1-800-570-0448 to see if we can move you to a fixed rate FHA mortgage and give you a stable long-term financing solution. We did it for a bad credit mortgage client in Duval County! Don't get stranded in a bad credit mortgage with accelerating payments! A Florida refi to a stable low rate loan solution today is far better than needing a hard money Florida Foreclosure bailout tomorrow.

A Reputable Florida Mortgage Lender
Offering Low Cost Florida Construction Loan Programs

The slowing Florida real estate market has also opened up excellent construction loan opportunities for buyers who are building custom homes. During the boom, it was tough to get the attention of the best custom builders and competition for premium lots was fierce.

Those applying for a Florida Construction loan will find supply and demand working in their favor in today's market. Builders are hungry and all too eager to complete a construction loan funded project ahead of schedule. For reliable answers and experienced help in applying for a Florida construction loan, you can count on a reputable Florida mortgage lender like 1st Continental Mortgage! Call 1-800-570-0448 right now or use our quick application to get started!

A Florida Mortgage Lender Motivated to Lend

Mobile Homes, Modular Homes and Manufactured Homes

Try finding a Mobile Home or modular home loan at your local bank and you'll quickly learn about one of the lasting prejudices in the world of mortgage lending. Many banks don't offer mortgages for mobile homes with land, modular homes, or double wide trailers on rural acreage. They're much more comfortable lending on traditional "Brick" built block homes in subdivisions. It's a sentiment we've heard from all across the state: Duval County, Seminole County, and Dade County!

We're a mortgage lender business that welcomes and understands that a manufactured homes can offer superior quality at an affordable price in a high cost housing market. We offer both FHA mortgage loans and conventional financing for purchasing or refinancing mobile homes on lots, modular homes, and double wide trailer homes on land.

For a free no obligation quote on a manufactured home mortgage, call 1-800-570-0448 or use our quick application. You'll know you have found the right Florida mortgage lender for your manufactured housing loan!

A Florida Mortgage Lender
Capable of Handling Florida Jumbo or Super Jumbo Mortgages

The Fannie Mae loan limits have not increased as rapidly as real estate prices in Florida over the last five years. More and more homes, especially in more expensive coastal Florida counties, now require a Florida Jumbo or Super Jumbo home loan to purchase.

As an experienced Florida mortgage lender, we would be pleased to help you secure the best combination of rate and terms for your Florida home purchase. For a quote on your Florida Jumbo or Super Jumbo mortgage, please call 1-800-570-0448 or use our quick application for a fast, no obligation consultation.

A Florida Mortgage Lender That Knows Investor Loans

Motivated sellers always look good to smart real estate Investors. In the near term, it looks as if Florida will have its share of homeowners and institutions forced to sell REO homes at a loss. At 1st Continental Mortgage, some of our favorite repeat Florida mortgage clients are investors.

As a Florida mortgage lender, we understand the special needs of Florida real estate investors. Whether you are accumulating a portfolio of rental houses in Tampa to hold long term or buying and fixing REO homes in Tallahassee, Florida from asset managers at Florida lenders, we will be happy to help you close a competitively priced loan on time. If your investor loans aren't getting the attention they deserve from your Florida mortgage lender, why not try 1st Continental Mortgage?

To get a quote on your next Florida investor loan, call 1-800-570-0448 or use our secure quick application form. You'll find 1st Continental Mortgage deserves it reputation as an investor friendly Florida mortgage lender.

Search the Florida MLS at www.FloridaMLShub.com

Florida FHA Loan

Florida is known as the sunshine state and a haven for buying and finding really good real estate property. The fact for most home buyers is, when you need a home, you will require a home loan and who best to work with than 1st Continental Mortgage and our many FHA loan programs. When we talk about a Florida FHA loan, there is a FHA loan limit applicable in different counties and these change to keep up with market conditions.

For example: Baker County in Jacksonville, FL has a one family loan limit of $294,500; a two family loan limit of $331,700; a three family loan limit of $403,000 and a four family loan limit of $465,000. Similarly the non metro county of Lafayette has a one family loan limit of $200,160; a two family loan limit of $256,248; a three family loan limit of $309,744 and a four family loan limit of $384,936. So basically the loan limit in Lafayette is less than that of Baker County.

FHA is a part of HUD and the first thing looked at before issuing a Florida FHA mortgage is that you as a borrower have demonstrated a good repayment history for all your debts within the last 12 months. The credit history basically outlines your willingness to pay back your Florida FHA loan, the same loan that you will hopefully be getting from 1st Continental Mortgage, a Florida mortgage company, and not directly from the FHA. FHA insures the loans underwritten and approved by various Florida mortgage companies. FHA also provides security to the mortgage lenders in case you default on a loan and hence the Florida lenders will be more than willing to offer you the best FHA loan at some of the lowest interest rates in the market.

If your credit history, in spite of sufficient income, keeps on reflecting late payments, and delinquent credit accounts, then approving your loan may be impossible without sufficient documentation and explanation. Here's a brief synopsis of various credit underwriting guidelines for a FHA home loan:

Credit history: You as a borrower will need to have a minimum of 4 trade lines. If they are not reflected on your credit report, we can use alternative credit such as phone bills, utilities and rent.
Credit obligations: An installment loan like a student loan or a car loan, which has less than 10 months remaining does not have to be included for a FL FHA home loan qualification. The things that can be considered will include large debts, and this is independent of the number of months. If you have an open revolving account that doesn't show any balance then a $10 fee per open account may be included for qualification.
Bankruptcy, Chapter 7: Florida FHA requires a minimum time of 2 years since the time of discharge of the bankruptcy. You will have to attach an explanation of the bankruptcy along with your bankruptcy discharge documentation. You will also have to show a reestablished credit without any late payments. In some instances, under our FHA credit flex program we can consider a bankruptcy discharged as little as 12 months ago.
Bankruptcy, Chapter 13: FL FHA will consider you for a FHA loan if you are still paying on a Chapter 13 bankruptcy provided all your payments have been made to the court satisfactorily within the previous 1 year.
Foreclosures: You need to make sure than when you are applying for the Florida FHA loan, you do not have any pending foreclosure on your property or a foreclosure in the last three years.
Federal debt: Before you apply for a FL FHA mortgage, make sure that you don't have any defaults on other federal debts. A federal debt can include a past; FHA Loan, VA mortgages, SBA loans and student loans.

Qualifying for Florida FHA loans

In a nut shell, it's typically easier to qualify for FHA home loans in Florida as compared to conventional loans with like kind terms and conditions. The FHA loans are underwritten and funded by a FL mortgage lender like 1st Continental Mortgage Some of the benefits of a Florida Federal Housing Administration home loan are:

FHA loans offer tax deductible interest
You can acquire equity over a certain period of time
The closing costs on the FHA loans are regulated
There are no set income limits
The credit criteria for qualification is lenient as compared to other loans
They are fully assumable
Absolutely never a prepayment penalty
And Much More

Search the Florida MLS at www.FloridaMLShub.com

http://www.floridamortgagebiz.com/

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Anonymous

mfdhousing

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Sep 06, 2008 04:05 AM

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