First Time Home Buyers Loan in Orlando, FL

First Time Home Buyers Loan in Orlando, FL

At the Ace Lending Group in Orlando, we understand that buying your first home can feel daunting. Our home loan experts are here to help you through the process. There are various options for first time home buyers and some include government grants. Our mortgage experts will work with you to help you secure an FHA loan in Orlando and throughout Florida. We will help you understand what an FHA loan is and how it differs from other home mortgage loans. Contact us today to learn more!

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First Time Home Buyers Loan in Orlando, FL

  • Do I Qualify?
    Do I Qualify?

    There are multiple factors to consider when determining if you qualify for a home loan. Your household income is the first thing lenders will look at because they want to be sure you earn enough to cover your mortgage payments and your home bills. Lenders like to see that you are consistent with your income.

    The property type you are looking to buy can affect your ability to get an FHA loan. It is easier to get a loan for a primary residence than most other property types. A primary residence is a home you will live in for most of the year, and for many years to come. Primary residences pose fewer risks to lenders, and specific types of some government-backed loans are only available for primary residences.

    Your credit score is essential in determining home loan availability and rates. Lenders use your credit score to determine if you consistently pay your bills on time. You will need a FICO Score of at least 620 to qualify for a majority of home loans. An FHA Loan is ideal if you have a credit score lower than 620. A higher credit score will give you more favorable loan options and lower interest rates.

    Debt-To-Income Ratio is another area lenders look at when determining what type of home loans you qualify for. Mortgage lenders want to know you can take care of your mortgage payment and still pay your bills. Your Debt-To-Income ratio informs lenders how much of your gross income goes to required monthly bills.

    • Complete our simple mortgage pre−approval letter request
    • Receive options based on your unique criteria and scenario
    • Compare mortgage interest rates and terms
    • Choose the offer that best fits your needs
  • About FHA Home Loans
    About FHA Home Loans

    Home loans provided by the Federal Housing Administration (FHA) may make it easier for you to buy a home. For an FHA loan, a down payment of 3.5% is required. Borrowers who cannot afford the traditional down payment of 20% or are unable to receive approval for private mortgage insurance may consider an FHA loan. An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). The federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.

    • Our Home Loan Options
      Our Home Loan Options

      If you are looking to buy a new home in Orlando, our experienced loan officers will help identify your home loan options to determine what works best for you. If you plan on staying in your home for an extended period, a 30-year fixed-rate mortgage could be right for you. 15-year fixed-rate mortgages offer lower interest rates with higher monthly payments, and Adjustable-Rate Mortgages are great for home buyers who only plan to live in a home for a short duration.

      For more information on the home loans available, please visit any of the links below!

      First Time Home Buyers Loan in Orlando, FL

      First Time Home Buyers Loan in Orlando, FL

      First Time Home Buyers Loan in Orlando, FL

      First Time Home Buyers Loan in Orlando, FL

      First Time Home Buyers Loan in Orlando, FL

      First Time Home Buyers Loan in Orlando, FL

      Why Use Ace Lending Group in Orlando, FL?

      At Ace Lending Group in Orlando, our experienced loan officers will work with you to help you identify all available home loan options to help ensure you make the best decision regarding your mortgage loan needs. We offer various services and have the experience to provide accurate financial advice. We work hard to exceed your expectations and are available whenever you need us. If you have questions about our services, you can reach us anytime by phone, email, or fax!

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