Get your financing done at a Cape Coral Mortgage Corporation 2017-07-22T19:32:41+00:00

Get your financing done at a Cape Coral Mortgage Corporation

Cape Coral MortgageBuying a house is one of the biggest adventures you may have in your live time. There are many decisions to make and many options to choose from. Even if you have your ideal house in mind, you should take a couple of minutes to be sure that it is in your budget. In most cases it is a good idea to talk to a Cape Coral Mortgage Company. If you are a cash buyer, have a statement on hand that shows your funds in the range you are going to buy. Sometimes it is a good idea to have an extra account to show just sufficient funds for the price range you are looking for.

Academy a Cape Coral Mortgage Corporation – find the right financing option for you

If you are financing, there are a lot of options, different types of loans and a lot of do’s and don’ts to consider during the period of buying a property. Many of the real estate agents are working close with a loan mortgage originator and will hand you over in trustworthy hands. The first “appointment” is possibly just a phone call to talk about the most basic information like your social security number, your employment status and income and your expenses and assets. In most cases, just after a few hours, you know in what price range we can shop for your future home.

Not sure about your credit or do you have a bad credit?

Even if your credit is not in good shape it is worth to talk about with a mortgage expert. There are many options and ways to brighten up your credit and sometimes, just a couple of month later, you are ready to go. If you are thinking to buy and your credit is not ready to go, the sooner you talk to our partner the better. You can start right away preparing your credit for this important step. There are a lot of terms you may never heard before or even know that you would qualify for. You may have special options available if you are a first-time homebuyer or if you can’t afford a higher down payment you may qualify for an FHA-Loan (created for low and moderate income applicants who are unable to make a large down payment). The pro and cons of every type of loan are different and you need an expert at your side to make the right decision. We are working closely with a loan officer you can count on. We are all on the same page to achieve your goals.

Conventional Mortgage

A conventional Mortgage is any mortgage not insured or guaranteed by a federal government. Usually, there is a higher down payment between 5% and 20%.

– Minimum Credit Score 620

– Minimum Down Payment 3%

– Loan Amount up to $424,000

FHA Loans

FHA Loans are particularly designed to benefit first-time homebuyer and buyer who can’t afford a high down payment. FHA insured loans have flexible qualification rules.

– Minimum Credit Score 620

– Minimum Down Payment 3.5%

– Loan Amounts up to $272,000

VA loans

VA home loans are helping active-duty military or veterans finance their home with favorable loan terms and typically lower rates than other types of mortgages.

– Minimum Credit Score 600

– 100 % LTV with Closing Costs

Foreign national mortgage

A mortgage for non-residents is usually called foreign-national mortgage. This type of mortgage is often used for vacation homes in the US owned by an overseas buyer.

– No Credit Score Requirements

– DownPayment 25%

Stated Income Loan

This type of mortgage has no assets and income to disclosed on the application, employment is verified. This mortgages have a higher down payment and interest rate.

– Non-Owner Occupied Only

– Minimum Credit Score 680

– Minimum Down Payment 25%

Hard money mortgage

Hard money is usually private individuals or groups that lend money. These loans have a much higher interest rate than typical loans and they are based on the property you are going to buy, not on your credit history. Hard money is for example often used to flip houses.

To know more about your options talk to qualified loan officer. Cape Coral Mortgage Company:

Academy Mortgage Corporation
Patrick Derosa
1715 Cape Coral Pkwy W, Suite 14
Cape Coral, FL 33914
Direct: (201) 681-1581

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