Types of Home Loans

Find the Best Option to Finance Your New Home

During your home search, understanding the diverse range of loans available is crucial. Each loan comes with unique features, up-front costs, interest rates, and incentives.

Conventional Fixed Rate Loans

The most popular mortgage option, offering predictable payments for the entire loan term.

• Competitive interest rates for cost-effective borrowing.
• Locked interest rate throughout the mortgage term.
• Ideal for first-time buyers with straightforward terms.

FHA Loans (Federal Housing Administration)

Relaxed underwriting standards, lower down payment, and flexible restrictions.

• Assistance from friends or family for down payment.
• Less strict underwriting, understanding past credit issues.
• FHA Direct Endorsement Lender with streamlined processes.

Adjustable Rate Mortgages (ARMs)

Initial low interest rates and affordable monthly payments with potential future adjustments.

• Lower initial mortgage payment.
• Flexibility for those planning to move, relocate, or expect income growth.
• Rate locks up to 10 years for stability.

Veteran Financing (VA Loans)

Tailored loan options for veterans with VA Automatic Lender capability for faster approvals.

• Open to all veterans with minimum active duty service.
• VA loan amounts based on VA limits and unused entitlement.
• Funding fee ranges from 2% to 3% depending on the down payment.
• Veterans may obtain 100% financing under certain circumstances.

Contact Sea Glass Florida Properties to get started on your home search.

Information provided should not be considered as a commitment to lend. Offer subject to property and credit approval. Program and other restrictions may apply. Please contact your Loan Consultant for further details.