Florida 100% Financing Mortgage

100% USDA Rural home loan mortgage, 100% VA home loan mortgage Florida. Florida first time home buyers.

The Florida Rural Development USDA and Florida VA home loan programs offer 100% mortgage for qualified borrowers. You can borrow up to 100% the value of your home, the 100% mortgage loan does not require equity or a down payment. In fact, the only costs you need to cover with an 100% financing mortgage loan are the closing costs, and even those can be financed in by utilizing seller concessions! Both the USDA Rural and VA home loans allow the home seller to pay all closing costs and pre paid escrow requirements.

The two mortgage programs that currently allow up to 100% Financing in Florida:

• USDA Rural Loans
• VA Loans

USDA Rural Housing program - If you're a home buyer looking for 100% financing, this is the program you've been looking for. If you have a 640 or higher you receive a streamlined loan with no explanations for any derogatory on credit. The USDA Rural Loan program allows us to offer you 100% financing with fixed rates ranging around 4% (as of Jan 2012) fixed for 30 years. There is no prepayment penalty and very low mortgage insurance resulting in a loan that saves you even more money. This program was designed for borrowers with limited income and credit histories. You can view a quick overview of the program by clicking HERE. Ask a mortgage professional about how the Florida USDA Rural Home program can help you today!

VA Loans are the preferred loan of choice for any qulified veteran. They provide 100% financing with no costly mortgage insurance which means you keep more money in your pocket. In addition VA loans are less restrictive on credit guidelines than conventional loans.

There are two very similar but with more expanded approval guidelines offered by Fannie Mae and Freddie Mac which both offer 100% Financing for home buyers. These programs carry the same low rates as the My Community Loan, however there is no restriction regarding income and you don't have to be a first time home buyer to use them. These programs allow us to offer you several great options for getting financed at 100% for your purchase or refinance!

Between the VA Home Loan and USDA Rural Housing Loans we have all of your 100% financing needs covered.

Home Buying Made Simple

• Not having to put a down payment on your new home purchase
• Using the funds that you may have available by putting them into higher interest bearing ventures
• Get a 100% home loan with limited private mortgage insurance
• New laws recently passed now allow for mortgage insurance to be tax deductible if you chose to pay it with your mortgage
• up to 6% seller concesions allowed. No need to pay ANY closing costs
• 30 year fixed rates with no prepayment penalty EVER

What about Private Mortgage Insurance?

Everything You Need To Know About Private Mortgage Insurance (PMI)

Normally a lender will charge and insurance fee if you borrow more than 80% of the total value of the home. At Five Stars, we have several 100% financing Florida programs that allow you to bypass the purchase of private mortgage insurance, or PMI. This insurance protects the lender in the event of foreclosure, but does not provide protection to the borrower. Why pay all that extra money when it's not necessary. The 80/20 loan is a sure way to avoid PMI, but even with one loan at 100% financing we provide options that allow you to avoid this costly nuisance.

** Please note - 80/20 loans are no longer available. Please check into the other Florida 100% home loans - USDA and VA

MORTGAGE PROGRAMS

Five Stars Mortgage - The Right Choice for You!

• Many years of LOCAL Florida mortgage experience - We are located right here in Florida
• Simple and expediant closings
• Free loan application and mortgage consultations
• Easy online applications and tracking of your loan
• Jumbo loans
• One day response on your application
• Deal with people that value your business. Our mortgage professionals understand that you are our number one priority. We are here to serve you and your needs

Serving all of Florida 7 days a week including - Alachua County – Gainesville, Baker County – Macclenny, Bay County - Panama City, Bradford County – Starke, Brevard County – Titusville, Broward County - Fort Lauderdale, Calhoun County – Blountstown, Charlotte County - Punta Gorda, Citrus County – Inverness, Clay County - Green Cove Springs, Collier County – Naples, Columbia County - Lake City, De Soto County – Arcadia, Dixie County - Cross City, Duval County – Jacksonville, Escambia County – Pensacola, Flagler County – Bunnell, Franklin County – Apalachicola, Gadsden County – Quincy, Gilchrist County – Trenton, Glades County - Moore Haven, Gulf County - Port St. Joe, Hamilton County – Jasper, Hardee County – Wauchula, Hendry County – LaBelle, Hernando County – Brooksville, Highlands County – Sebring, Hillsborough County – Tampa, Holmes County – Bonifay, Indian River County - Vero Beach, Jackson County – Marianna, Jefferson County – Monticello, Lafayette County – Mayo, Lake County – Tavares, Lee County - Fort Myers, Leon County – Tallahassee, Levy County – Bronson, Liberty County – Bristol, Madison County – Madison, Manatee County – Bradenton, Marion County – Ocala, Martin County – Stuart, Miami-Dade County – Miami, Monroe County - Key West, Nassau County - Fernandina Beach, Okaloosa County – Crestview, Okeechobee County – Okeechobee, Orange County – Orlando, Osceola County – Kissimmee, Palm Beach County - West Palm Beach, Pasco County - Dade City, Pinellas County – Clearwater, Polk County – Bartow, Putnam County – Palatka, Santa Rosa County – Milton, Sarasota County – Sarasota, Seminole County – Sanford, St. Johns County - St. Augustine, St. Lucie County - Fort Pierce, Sumter County – Bushnell, Suwannee County - Live Oak, Taylor County – Perry, Union County - Lake Butler, Volusia County – DeLand, Wakulla County – Crawfordville, Walton County - De Funiak Springs, Washington County – Chipley, FL, FLA