Home Loans in Florida – Fixed & Adjustable Rate Mortgages
As a direct lender in Florida, we offer FHA, USDA, and VA government loans, plus 15-, 20-, and 30-year fixed-rate conventional mortgages. 1st Florida Mortgage underwrites loans quickly, makes faster decisions, and closes on time by managing the entire transaction from application to funding. Our team is committed to delivering excellent customer service throughout the process, ensuring a seamless and efficient mortgage experience tailored to your needs.
Our new home loan options:
CONVENTIONAL LOANS
Florida fixed rate mortgage loans are the standard loan type for the majority of home financing, and are available in a variety of terms from 10 to 30 years. This loan type offers a consistent or “fixed” principal and interest payment throughout the life of the loan. Standard fixed rate terms are: 10, 15, 20, 25 or 30 years, although 15 and 30 are the most common. By choosing a shorter fixed rate option, you can realize a substantial savings in interest over the life of the loan.
ADJUSTABLE RATE LOANS
Less Popular and typically used when the fixed rates are higher, adjustable rate mortgages (arms) are a great fit for home buyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible mortgage rate available. Adjustable rate mortgages are fixed for an initial period. After that, the interest rate will either go up, or down depending on market conditions of the index for the particular loan. All adjustable rate mortgages do have a max cap adjustment.
FHA LOANS
FHA loans are perfect loans for first time home buyers, but you do not have to be a first time home buyer to qualify. FHA loans offer easier qualification and as little as 3.5% down and up to 100% financing with approved gift funds. FHA loans are a great option for first time home buyers, as credit standards are easier with more flexibility. restrictions.
VA LOANS
Loan values up to $766,550 for our US service men and women. 1st Florida Mortgage specializes in VA home loans in Florida and has been serving our military since we opened our doors. VA loans offer up to 100% financing and lower credit scores OK. No monthly mortgage insurance no debt to income restrictions.
JUMBO LOANS
Loan amounts up to $3,000,000. For home mortgages with a loan amount exceeding (varies by county) conforming limits, 1st Florida Mortgage offers a variety of jumbo loan programs to fit your purchase or refinance needs. You can choose between a fixed or adjustable rate depending on your financing goals.
USDA LOANS
For rural Florida properties- USDA home mortgages could be the perfect fit if your property qualifies. Up to 100% financing, with the ability to roll in closing costs and in some cases repairs. Florida USDA makes home ownership possible for many Floridians with lower income in rural areas.
