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What type of Loan is best for you?

Real Estate Broker/Owner with RMS Realty, St Lucie, Martin and Palm Beach Counties

I am not a Mortgage Professional, but can give you a few tips on the different types of loans out there:


VA:   No down payment, no monthly MI payment. There is an upfront mortgage insurance payment however. These loans are for Service members, Veterans, and eligible surviving spouses.VA Home Loans are provided by private lenders, such as banks and mortgage companies. VA guarantees a portion of the loan


USDA:  These loans also do not require a down payment, but the location of the home must be in less dense areas and there is a income qualification. About $70,000 a household (please double check this with your lender).  USDA loans have an up front mortgage insurance payment and a  monthly mortgage insurance payment. You should have at least $1000 to pay for your own appraisal and inspection. Check the address of any property you are interested in HERE.

FHA:  Requires 3.5% down and has a very high monthly mortgage insurance payment. There is no income of geographic requirement, but the MI has been increased over the past two years. These loans are insured by FHA.


Traditional/Conventions Loans:  They now start at 5% down with a low MI payment and 20% down with no MI.  These loans can be obtained by banks.


Cash is always good too :)


Please contact your local lender for more information on any of these forms of financing.

Then call me to find you a home :)   - Happy Shopping!





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Real Estate services in Port St Lucie, St. Lucie West, Jensen Beach, Fort Pierce, Palm City, Stuart, Hobe Sound, Jupiter and Palm Beach Gardens.



Owe more on your home than the market value and want to sell?    Call me, I can help.  I am available 7 days a week at 772-924-0430 or you can email me at tonia.rahming@gmail.com

If you are a buyer looking to purchase a home or an investment property or a seller that needs to sell fast, you can reach me at 772-924-0430 or here. Search the MLS on my website. 


For more information on St Lucie county, check out the visitors page and for more information on Palm Beach county, you can start right here.


Tonia Rahming

Your Florida Realtor

RMS Realty

772-924-0430 phone

866-215-4641 fax







Comments (1)

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Like you said...Cash is always good too. Good answers to questions many buyers want to know the answers to...

Mar 16, 2013 10:49 PM