Capital Home Mortgage Florida

Florida home purchase loans

FLORIDA Home Purchase lender

Home Purchase Loans In Florida

Potential homebuyers in Florida have access to a variety of home loans. Depending on the individual’s circumstances, financial objectives, and preferences, each has a unique set of benefits and drawbacks.

Home Loan Programs in Florida

In Florida, a few of the most typical kinds of mortgages are as follows:

Conventional Loans

A conventional loan is a mortgage not insured or guaranteed by the federal government. Instead, it is backed by private lenders, such as banks, credit unions, or mortgage companies. Conventional loans are the most common type of mortgage used by homebuyers. There are two main types of conventional loans: conforming and non-conforming. Conforming loans adhere to the guidelines set by Fannie Mae and Freddie Mac, two government-sponsored enterprises that buy mortgages from lenders, bundle them and sell them as mortgage-backed securities. These guidelines include loan limits, credit score requirements, and debt-to-income ratios. Non-conforming loans, on the other hand, do not follow these guidelines and are often called “jumbo loans” because they are used to finance more expensive properties that exceed the loan limits set by Fannie Mae and Freddie Mac.

FHA Loans

An FHA home loan is a mortgage insured by the Federal Housing Administration (FHA), a government agency within the U.S. Department of Housing and Urban Development (HUD). FHA loans are designed to help low-to-moderate income borrowers, first-time homebuyers, and those with less-than-perfect credit qualify for a mortgage and purchase a home.

VA Loans

VA home loans are mortgages guaranteed by the United States Department of Veterans Affairs (VA). These loans are intended to assist qualified veterans, active-duty military people, and surviving spouses in purchasing a home. VA loans provide various advantages to eligible borrowers, making homeownership more accessible to veterans. To be eligible for a VA home loan, borrowers must meet specific service requirements based on their time in the military, National Guard, or Reserves. Additionally, borrowers must obtain a Certificate of Eligibility (COE) to verify their eligibility for a VA loan. Although VA loans offer numerous advantages, they are not available for investment properties or vacation homes; they are intended for primary residences only.

USDA Loans

USDA home loans are mortgages guaranteed by the US Department of Agriculture (USDA). They are intended to assist low-to-moderate-income borrowers in rural and suburban areas with purchasing a home. USDA house loans are also referred to as USDA Rural Development Guaranteed Housing Loan Program or Section 502 loans. USDA home loans can be an excellent option for eligible borrowers looking to purchase a home in a qualifying rural or suburban area, particularly those with limited funds for a down payment or a lower credit score. However, the geographic and income restrictions may limit the program’s availability for some borrowers.

Adjustable-Rate Mortgages (ARMs)

ARMs are home loans whose interest rate fluctuates regularly based on a predetermined index and margin. An ARM’s starting interest rate is often lower than a fixed-rate mortgage. However, the rate adjusts regularly after a specific term, increasing or decreasing the monthly mortgage payment. ARMs are often structured with a fixed-rate period in the beginning, followed by an adjustable-rate period. Common terms include 3/1, 5/1, 7/1, and 10/1 ARMs. The first number represents the number of years the initial fixed rate lasts, and the second number indicates how often the rate adjusts after that (usually annually). For example, a 5/1 ARM has a fixed interest rate for the first five years and then adjusts annually for the remainder of the loan term. When considering an adjustable-rate mortgage, weighing the potential risks and rewards is crucial. Borrowers should assess their financial situation, risk tolerance, and future plans to determine if an ARM suits their unique circumstances.

Jumbo Loans

A jumbo loan, also called a jumbo mortgage, is a form of financing that exceeds the Federal Housing Finance Agency’s (FHFA) lending limits. Non-conforming loans are loans that do not conform to the limits established by Fannie Mae and Freddie Mac, the government-sponsored agencies that purchase and package most U.S. home loans. In most areas, the conforming loan maximum in 2023 is $726,200; however, in high-cost areas such as Alaska and Hawaii, the conforming loan maximum is $1,089,300. Jumbo loans have a higher interest rate, stricter underwriting guidelines, and a more significant down payment requirement than conventional mortgages. Down payments on jumbo loans can be as low as 10 percent for loan quantities of $1 million or more, corresponding to a purchase price of $1.1 million or more. These loans are intended for debtors whose loan balance exceeds the conforming loan lending limits. Each type of home loan has distinct benefits and drawbacks, so it is essential to evaluate your financial situation and long-term objectives before selecting the best loan for your requirements. It is always a good idea to consult with a mortgage professional for assistance in navigating the process and making the best decision for your specific circumstances.

Apply for a Home Purchase Loan in Florida

Allow us to assist you in achieving your dream of becoming a proud Florida homeowner today. To get started, contact (239) 310-5599. Our Professional Loan Officers would be delighted to walk you through our home loan requirements and answer any questions you may have about the application process.

Why Florida HomeBuyers are Choosing Capital Home Mortgage

Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7 Day a Week Support Application to Final Mortgage Payment

Florida Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate? Why borrowers receive different interest rates? Or why rates go up and down? Interest Rates are calculated using several factors.

Demand for mortgage Securities
Property securing the mortgage
occupancy of the property
Loan to value of the property
Borrower’s credit worthiness

Florida Home Purchase Loans

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

Primary, Secondary, Investment
FHA, VA, USDA, Native American
Conventional, Jumbo, Non QM
Reverse, Renovation, Manufactured

Florida fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Florida Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment. ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

Florida Mortgage Programs

Florida Home Purchase

Thinking of Buying a Florida Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

Primary, Secondary, Investment
FHA, VA, USDA, Native American
Conventional, Jumbo, Non QM
Reverse, Renovation, Manufactured

Florida renovation home loans

Looking to Rehab a Florida Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan? Purchase the Perfect Home and make it your own. Call today.

Remodel, Renovate or Repairs
FHA 203K Streamline or full
fannie mae homestyle reno
freddie mac home choice reno

Florida FHA Home Loans

Great for 1st Time Florida Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.

Smaller Down Payment
Flexible Underwriting
Higher Debt to Income Ratios
Lower Credit Scores OK

Florida VA Home Loans

100% Financing for Florida Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

Simply Qualifying for Veterans
No Down Payments Requirements
Lower Credit Scores Accepted
Manual Underwriting Allowed

Florida Conventional Home Loans

Flexibility for Florida Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

Primary, 2nd Home, Investment
Great Rates & Low Fees
Single Family and Multi-Family
Renovation Loan Programs

Florida Jumbo Home Loans

Florida Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today to speak to a loan officer.

Primary Residence and 2nd Homes
Higher Loan Amounts – 3 Million
Great Interest Rates
Investor Specific Guidelines

Florida USDA Home Loans

100% Rural Florida Home Loans

USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.

Rural Properties Only
Primary Residence Only
Geographic Restrictions
Income REstrictions

Florida Native American Home Loans

Florida HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.

Primary Residence Only
Manual Underwriting for All Loans
No Credit Score Requirements
Tribal Grants Allowed

Florida Manufactured Home Loans

Great Alternative Florida Housing

Florida reverse mortgages

Your Florida Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

primary residence only
simple qualifying – equity based
credit scores not applicable
Minimum age 62

Florida Non QM Home Loans

Making Florida Mortgages Possible

Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

Purchase, Rate and Term & Cash-out
Primary, Secondary and Investment
Full Doc & Bank Statements Programs
Corporations OK

Florida One Time Close Home Loans

Build Your Florida Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.

Primary Residence Only
Close Once
Lock Rate at Contract
Traditional Final Mortgage

Florida Refinance Mortgage Loans

Florida Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing. Call today and let our Loan Officers walk you through the process.

Reduce Mortgage Term
Lower Monthly Payments
Appraisal Waivers
Streamline Options Available

Florida Cash-out Home mortgages

Florida Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

Debt Consolidation
Investment Opportunities
Home Improvement
Vacation or Education

Florida Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer

NMLS #210325

Conor Hayhurst