Florida Mortgage Basics
America is the land of opportunity, and nothing shows that any more than Florida’s diversity. It has something for everyone, from world-renowned theme parks to amazing entertainment spots and miles of beaches. You may be attracted to the state’s Atlantic coast where there are unlimited investment opportunities, or the Gulf coast, which boasts of luxurious yet affordable neighborhoods like Bradenton, St Petersburg, and Sarasota. Or you could just be interested in enjoying the all-year-round temperate climate that Florida residents love so dearly.
Either way, the best way to start living the Floridian dream is by purchasing a home in the state. And Moreira Team can help you in that. As you may already know, most Florida homebuyers use mortgage loans to purchase their homes. Mortgages are generally available with buyer-friendly terms. Florida’s minimum of $85,000 is, in fact, the lowest in the whole country.
And once you choose a property of your liking, you can get anything from 65 to 100% financing for your property – depending on the type of loan, location of the house and many other factors. The maximum loan term for the state is 30 years, but there are several options for you to choose from. With the state’s real estate market being one of the most vibrant, you can be sure that you will get a variety or mortgage packages to compare. Factors like interest rate, down payment requirements, type of mortgage, the term of your loan, and the location of your house will be key influencers of how much your payments will be.
So, before you make the big leap and start buying a home, you may want to know more about those and other Florida mortgage basics. We have everything you need to learn right here.
Florida City Mortgage Service Areas