As we discussed in Part 1 of the Buying a Home in Eustis, Florida, there are many options that a potential home owner has when looking for a home in the Eustis area. And like the real estate, a home owner has several mortgage programs to shop for.
Each mortgage loan that is available to Eustis borrowers has its own unique set of guidelines and characteristics. In general though, they have the same basic ground rules: must have a job, must have credit (Good to Excellent), and must be able to afford the mortgage payment.
It is from these main ground rules that lenders and programs deviate into the individual programs that are offered. ( To avoid a long, drawn out post, we will cover the individual programs in more detail in separate posts.) Here is basic list and summary of the programs that are available to potential mortgage loan borrowers: Read more.