Loan Options

Types of Loans

There are different types of loans available to you. We will help you analyze the options and decide which one is best for you.

Conventional Loans

Conventional loan financing offers financing options as low as 3% down payment. Most conventional loans are generally fixed for 30 years, although other terms are available. Certain credit profile and credit scores are generally needed to obtain conventional loan financing. Conventional loan limit is $647,200.

FHA Loans

FHA loans are home loans backed by the Federal Housing Administration (FHA), a government agency created to help home buyers qualify for a mortgage. This type of mortgage provides mortgage insurance on loans made by FHA-approved lenders, protecting them from the risk of borrower default.

Due to these protections in place, they can afford to be more lenient when offering mortgages. This means it’s possible to get an FHA loan with a lower credit score and a bit more debt than other types of loans.To offset this, FHA loans will typically include mortgage insurance as part of the borrower’s responsibility.

These loans are insured by the Federal Housing Administration (FHA). The FHA protects lenders against defaults on payments. This makes it easier for you to qualify, and allows lenders to offer lower interest rates.

Jumbo Loans

A jumbo mortgage is a home loan for an amount that exceeds loan limits established by regulation. The jumbo loan limits are over $647,200 and higher in some areas.

VA can qualify for a jumbo loan with up to 100% financing.

USDA Loans

For those living in eligible rural or suburban areas with a qualifying household income, and the possibility of zero down payment.

VA Loans

For veterans or active service members. There are options available for 100% financing with no downpayment.

Commercial Loan

This mortgage loan is secured by commercial property like an office building, shopping center, industrial warehouse, or apartment complex.

It is generally subject to stricter guidelines and more detailed review.

Reach out to out team to discuss your options

Whatever direction you are trying to go, our experienced mortgage team will help you analyze which option is best for your short and long-term goals.

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Mortgage Biz Florida

A Florida Licensed Mortgage Brokerage. Closing Loans and Opening Doors.

NMLS#: 1497456