What Should Buyers Know About Mortgage Companies in Jacksonville Beach
Mortgage Companies Jacksonville Beach
Are you researching mortgage companies in Jacksonville Beach? An experienced mortgage expert can help you navigate all options and find what is best. Whether you want to pursue an FHA, VA, or USDA loan, they have the expertise to help.
FHA Home Loans
The federal government subsidizes FHA loans through the Federal Housing Authority. Consequently, an FHA loan’s terms will be better than a typical loan if you have lackluster credit. Typically, a down payment of only 3.5% of the property is required.
Here are a few FHA home loan options:
• Fixed-Rate Mortgage
• Adjustable-Rate Mortgage (ARM)
• 3.5% Down Payments
• Jumbo & Super Jumbo Loans
• Terms of 15-, 20-, 25-, and 30- Years
USDA Home Loans
There is no down payment requirement when you buy with a USDA home loan. Borrowers can borrow up to 100% of the home’s sale price, financing the whole structure. However, that does not mean you can buy a house without money. There are still several things you must complete to qualify for a loan. Plus, a USDA loan’s biggest limitation is that it can only be used in rural locations.
Benefits of a USDA home loan:
• 30-Year Fixed Terms
• No Down Payments
• No Maximum Loan Amount
• 100% Financing
• Low Mortgage Insurance
VA Home Loans
VA home loans benefit from lacking a down payment, and they have low closing costs. They are backed by the Veterans Administration, which is perfect for the military.
Contact The Mortgage Lady Team-Fairway Independent Mortgage Corporation at https://themortgageladyteamfairway.com.