FLORIDA and ALABAMA DIRECT CONVENTIONAL LOANS LENDING & FINANCING Conventional DPA Down Payment Assistance Home Loans.

Conventional Loan Requirements

Conv loan has a 620 minimum Mortgage FICO Score.
When putting 3% down you get a reduced private mortgage insurance rate.
For Incomes less than 80% Area Median Income –
Primary home only.For incomes on loan application less than 50% of the area median income. – Primary home only. Get $2500 in closing cost assistance.
For income on loan application less than 80% of the area median income. – Primary home only. Get $1250 in closing cost assistance.
With 20% down no mortgage insurance.
Can be used for Duplex – 15% Down.
Also Triplex and Quadplex – 25% Down.
Fannie and Freddie Mac have made changes to the Conventional Condo Loans so besides Conventional Condo loans we have many other options for Condo loans. For more information about conventional condo loans and more, go to our Condo Loans page for more info

Debt-to-income ratio: Your debt-to-income ratio (DTI) is a percentage that represents how much of your monthly income goes to pay off debts. You can calculate your DTI by adding up the minimum monthly payments on all your debts (like student loans, auto loans and credit cards) and dividing it by your gross monthly income. For most conventional loans, your DTI must be 50% or lower.

Conventional Loans DPA (Down Payment Assistance).

Qualifying income is 80% or less than the Area Median Income for the property address. – 3% given to meet minimum down-payment requirement
This Down-payment assistance is in the form of a subordinate soft second lien with a 0.00% interest rate. With a 5-year term, forgiven at month 61. Buyers(s) must remain current on their mortgage for the second mortgage to be forgiven.
May be combined with up to 3% seller concessions for prepaids and closing costs.
Minimum FICO of 620 for this Conv Loan type.
Verification of rental history for previous 12 months required.
Must receive automated underwriting system approval.
For property types Single family, Townhome or Manufactured Home. (with permanent backing on skirting required) eligible.
Designed for Conventional First time home buyers and repeat buyers allowed.
Credit Smart Online Consulting Course required. Login (freddiemaclearning.com)
Additional financial standards apply. Must show buyers have met stability of employment and income. By managing their finances and savings to a budget that exhibits responsible repayment patterns and a satisfactory credit history.

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FLORIDA MORTGAGE BROKER/LENDER SPECIALIST. SERVICE SPECIALIZED LOCATIONS CONVENTIONAL LOANS LENDING & FINANCING

FLORIDA CONVENTIONAL LOANS LENDING & FINANCING

NORTHWEST FLORIDA

NORTHWEST FLORIDA Escambia Co and Santa Rosa Co Pensacola beach Fl, Milton Fl, Perdido Key Fl and Gulf Breeze Fl. Next is Okaloosa Co and Walton Co Navarre Beach Fl, Ft Walton Beach Fl, Destin Fl and 30A Fl. Also DeFuniak Fl, Freeport Fl and Miramar Beach Fl. Including Bay Co Panama City FL, Mexico Beach Fl and Chipley Fl. Also Washington Co, Jackson Co and Gulf Co Port St Joe Fl. Franklin Co Cape San Blas Fl, St George Island Fl and Carrabelle Fl. Finally Leon Co Tallahassee Fl. CONVENTIONAL MORTGAGE LOANS for the whole state of FLORIDA. We are the CONVENTIONAL HOME LOANS specialist for Florida

NORTH FLORIDA

NORTH FLORIDA Nassau Co, Duval, Clay Co and Saint Johns Co Jacksonville Beach Fl, St Augustine FL and Fernandina Beach Fl. Includes Marion Co and Lake Co The villages Fl and Ocala FL. With Putnam Co Palatka Fl. Alachua Co High Springs Fl and Gainesville Fl. CONVENTIONAL MORTGAGE HOME LOANS.

CENTRAL FLORIDA

CENTRAL FLORIDA Includes Flagler Co and Volusia Co Daytona Beach Fl, Ormond Beach Fl, Smyrna Beach Fl, and Palm Coast Fl. Also Orange Co, Osceola Co and Polk Co Orlando Fl, Clermont Fl. Winter Haven Fl, Poinciana Fl, Kissimmee Fl, Sanford Fl and Deltona Fl. Along with Pinellas Co Clearwater Beach Fl, Indian Rocks Beach Fl, Indian Shores Fl, North Redington Beach Fl, Maderia Beach Fl and Treasure Island Fl. Next is Hillsborough Co Tampa Fl, Lakeland Fl, St Petersburg Fl, St Pete Beach Fl and Palm Harbor Fl, Including Brevard Co Melbourne Fl, Melbourne beach Fl, Cape Canaveral Fl, Cocoa Beach Fl, Port St John Fl, Fort Pierce Fl, Merritt Island Fl and Satellite Beach Fl. CONVENTIONAL MORTGAGE HOME LOANS.

SOUTH FLORIDA

SOUTH FLORIDA Manatee Co, Sarasota Co Longboat Key Fl, Venice Fl, North Port Fl, Bradenton Fl, Sarasota Fl and Port Charlotte Fl. With Charlotte Co and Lee Co Fort Myers Fl, Lehigh Acres Fl, Punta Gorda Fl and Bonita Springs Fl. Plus Collier Co Naples Fl and Marco Island Fl. Plus Monroe Co Key Largo Fl, Tavernier Fl, Islamorada Fl, Marathon Fl and Key West Fl. Miami-Dade Co Miami Fl, Gables Fl, Sunrise Fl and Hialeah Fl. Next Broward Co Hollywood Fl, Fort Lauderdale Fl, Pompano Beach Fl, Miramar Fl and Coral Springs. Lastly Martin Co and Saint Lucie Co Boca Raton Fl, Delray Beach Fl, Boynton Beach Fl, West Palm Beach Fl, Jupiter Fl and Palm Beach Shores Fl. Finally Riviera Beach Fl, Port Saint Lucie Fl, Vero Beach Fl and Jensen Beach Fl. Finally Indian River Co Indian River Shores Fl and Sebastian Fl. CONVENTIONAL MORTGAGE HOME LOANS

ALABAMA MORTGAGE BROKER/LENDER SPECIALIST. SERVICE SPECIALIZED LOCATIONS CONVENTIONAL LOANS LENDING & FINANCING

ALABAMA CONVENTIONAL LOANS LENDING & FINANCING

ALABAMA Gulf Shores AL, Orange Beach AL, Foley AL, Fort Morgan AL, Dauphin Island Al, Fairhope AL, Daphne AL, Spanish Fort AL, Dothan Al, Montgomery Al, Auburn Al, Clanton Al, Alabaster Al, Prattville Al, Trussville Al, Phenix City Al, Columbus Al, Tuscaloosa Al, Birmingham Al, Huntsville Al, Decatur Al, Guntersville Al, CONVENTIONAL MORTGAGE LOANS for the whole state of ALABAMA. We are the CONVETIONAL HOME LOANS specialist for ALABAMA.