What is the best mortgage co. for first time home buyers in FL?

Question

I am located in central florida (cocoa)

Answer 1

The best mortgage company for a first time home buyer in central Florida would be the same for a first time home buyer in Oklahoma or Alaska. The answer is: a mortgage company you trust!

Get referrals from friends, family members, coworkers, etc. for people they have worked with. Chances are, if they are done a good job for someone you know, they will do a good job for you.

Referrals are a huge part of our business at Quicken Loans and I imagine the same goes for other mortgage companies.

Make sure your mortgage professional goes over all first time home buyer options with you and explains all the different types of home loans. If you go with something like an interest-only loan or an adjustable rate loan, make sure you completely understand when you monthly payment will change. Once again, someone you trust will go over all of this with you.

I've included a link to the first time home buyers section of the Quicken Loans website below. I recommend going over the section and getting together a list of items that you might want to consider as you buy your first home.

Good luck!

Answer 2

I am in Melbourne and the mortgage company does not necessarily effect the position of a buyer. There are programs for first time home buyers and you can go to Brevard County and get down payment assistance. You will have to use the companies on the list they provide. If you are working on a conventional loan, then it is all the same. I have a menu of lenders and I promise that any other broker house is taking from the same list. The question is really on you being qualified to purchase. First time or not depends on your need for assistance and the additional steps to closing are the same. If you want more information I will gladly get you the name and numbers at the county to contact. Money goes fast, so call soon. If you just want to be prequalified then I need to pull credit, and do an application the regular steps. Good Luck and Happy House Warming. Please know that the market is so soft especially in FL!

Answer 3

I always tell buyers to pick 3 companies and talk to the lenders. Compare everything, don't be lured by an attractive interest rate. Closing costs can vary by thousands of dollars, and things like pre-payment penalties can make an otherwise sound offer unattractive.

There are several reputable nationwide lenders, such as Countrywide. I'd start with companies whose name you recognize, that have an established reputation in your community. Don't overlook banks, some have very attractive FTHB programs.

Good luck.

Answer 4

If the dad and mom are paying 'funds' for the homestead, then you certainly are ultimate in which you do not 'want' assets vendors coverage. If there is any economic business enterprise loan (by utilising you or the dad and mom) coverage would be required. that is not a bad concept, in spite of everything, to have a minimum of minimum coverage. by way of fact the husband is a co-proprietor, interior the form of a divorce, you would be entitled to 0.5 of his share (not 0.5 of the homestead). are you able to point... a million) That the loan be documented in writing. comprise the fee time table, and the thank you to checklist the money. Even (exceedingly!) funds money, or any time you regulate money, would desire to be documented. (in the event that they enable you bypass a value as a Christmas present, or shrink a value on the grounds which you paid for a sparkling furnace). this saves the valuables, so as that if/while a ascertain dies, an precise accounting could be provided. The extra money you are able to checklist, the extra suitable. 2) How will maintenance would be paid for, and carried out? no rely if that counts in the direction of the loan volume? 3) After a era of years (like 5?) ask that the homestead be re-titled into your names (you and your companion), at a similar time as you nevertheless make loan money. 4) What happens if the two/the two dad and mom die, or get divorced? 5) What would take place in case you and your companion divorce (would he pay you back on your investment?) this would be an trouble-free settlement (in writing) between you and your companion, or comprise the dad and mom. "Sally Smith is contributing $500 each and each month in the direction of the entire fee of $one thousand in step with month, initiating January a million, 2008 in the direction of the acquisition of the homestead and assets at 123 considerable highway. interior the form of a divorce, the relax vendors of the valuables, Mike Smith, Joe Smith, and Mable Smith, shall reimburse Sally Smith 50% of her investment as much as now. repayment would be made interior of ninety days of such an experience." you're able to make any settlement criminal by utilising putting it in writing. this can provide some risk-free practices, and by utilising soliciting for fifty% back, you're making it smart. they don't would desire to pay you out each and every cent, on the grounds which you probably did get the excellent thing approximately a place to stay, yet sufficient which you're able to desire to circulate directly to a distinctive homestead with some money.

Answer 5

You're no better off going with a recommendation here than you would be picking one name out of the phone book.

You should interview several, and if they start out by talking about their loan programs, don't waste time on them. They don't even really want to sell you something, they just want you to buy it from them.

What you want is someone that asks questions and gets to know your situation, so they can show you a program that will work for you. You need to find at least two people that do it this way to be sure you're getting the right deal for you.