

Paradise Real Estate
521 Simonton Street, KW
305-294-6008 office
305-896-8821 cell
305-768-0536 fax









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"DON'T BORROW WHAT YOU
CAN'T AFFORD" |
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Various Types of Loans
FHA Loan-
The Federal Housing Administration (FHA) runs
several programs to promote home ownership. In most cases, FHA loans are
mortgages obtained with the help of the FHA. With a small down payment,
buyers can purchase a home. FHA loans make it easier for people to
qualify for a mortgage, but they’re not for everybody. The FHA
guarantees that a lender won’t have to write off a loan if the borrower
defaults – the FHA will pay. Because of this guarantee, lenders are
willing to make large mortgage loans.
VA Loan-
The basic intention of the VA direct home loan
program is to supply home financing to eligible veterans in areas where
private financing is not generally available and to help veterans
purchase properties with no down payment. For veterans, those on active
duty, plus members of the Guard and Reserve and surviving spouses of
vets who died on active duty or as a result of military service.
Conventional Loan-
A conventional loan is a loan that is
not guaranteed or insured by any type of government program.
S.H.I.P. Loan-
This no money down payment loan for
first time home buyers is available through a program known as S.H.I.P
which stands for State Housing Initiative Partnership. The program is
available in every county in Florida. Each county receives state funds
which they, in turn, use to promote home ownership in their area,
particularly among those with the lowest income and the greatest need
for financial assistance. However, these government assisted home loans
are not just given to everyone. Individuals do need to meet specific
requirements.
Click here to view
application and requirements. |
Heather Roberts, Loan Officer
Iberia Bank
1000 Kennedy Drive, KW
office: 305-296-0016
email:
heather.roberts@iberiabankmortgage.com
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Ruben Concepcion, Mortgage Broker
Keys Financial Corporation
302 Southard Street, KW
office: 305-294-1484
email:
ruben@keysfinancial.com |
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