Florida Mortgage Programs
Fidelity Home Group is here to help you find the financing for your home purchase that’s best for you—whether you’re just starting out, tired of renting or upgrading to your dream home in the Ponte Vedra Beach Florida area. With free pre-approvals, you can search for your new home knowing all of your options, and our selection of specialty loan programs and in-house mortgage experts means your home loan is personalized to your individual needs and budget.
When you are self-employed or a business owner and you want to buy a home, you fill out the same application as everyone else. The same factors are considered: your credit score, how much debt you have, your assets and your income. So what’s different? When you work for someone else, lenders go to your employer to verify the amount and history of that income, and how likely it is you’ll keep earning it.
Condominiums are classified as Warrantable, Non-Warrantable or a Condotel. Condos are a single, individually-owned housing unit in a multi-unit building. The condominium owner holds sole title to the unit, but owns land and common property (elevators, halls, roof, stairs, etc.) jointly with other unit owners, and shares the upkeep expenses on the common-property with them. Unit owner pays property taxes only on his or her unit, and may mortgage, rent, or sell it just like any other personal property.
The Debt Service Coverage Ratio is a ratio of a property’s annual net operating income and its annual mortgage debt, including principal and interest. Lenders use DSCR to analyze how much of a loan can be supported by the income coming from the property as well as to determine how much income coverage there will be at a specific loan amount.
Our New Construction Programs is a one-close construction loan:
- 70% LTV with no requalification required post-construction
- 90% LTV option with requalification required post-construction
- Simple and flexible draw process with no set schedules
Federal Housing Administration mortgages are great first-time home buyers! FHA Mortgage have flexible lending standards to benefit:
- Minimum Down Payment of 3.5%.
- Minimum score of 620.
- Debt-to-income ratios under 55%.
Our renovation remodeling loans allow you to roll the costs of repairs or upgrades. Benefits include:
- One Loan: The loan covers the purchase plus renovation costs
- Renovation work can begin immediately
- Remodel the updates/additions you want
- Simplicity: one closing and one monthly payment
Because the VA guarantees a portion of your loan, you won’t need to pay mortgage insurance:
- Credit scores as low as 620 may qualify
- Buy a home with as little as $0 down
- Certificate of Eligibility
- VA loans were designed to offset common financial challenges faced by military families and veterans.
Thinking of buying an additional property for a new source of income? Consider an investment home with long or short terms rentals:
- Minimum down payment of 15%
- Minimum credit score 700
- Debt to income ratio under 43%