If you need a mortgage in Florida then Affiliated Mortgage Company is the company for you. We have been closing loans in Florida since 1991.
Affiliated Mortgage Company is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
Apply for an easy mortgage determination with us.
Before you begin the search, it helps to learn more about your financing options. A low rate can change everything, making your dream house more affordable than you imagined.
Conventional loans are traditional home mortgages, not backed by any government program of insurance or guarantee. These conventional conforming loans up to $424,100 loans are available as a fixed or variable (ARM) rate with a variety of repayment terms which can be tailored to your individual needs. Buyers will need cash reserves/savings to cover two months of payments and generally, there is not a penalty for prepayment.
Take advantage of historically low rates. Lower your monthly mortgage payment.
Refinance with us today to pay off high interest rate credit card debt, Student Loans, or to shorten the length of your mortgage and save on interest.
Any way you look at it, you'll be saving.
Refinancing your mortgage can help you by lowering your payment, to obtain a better interest term and rate by shortening your term and saving you thousands on your mortgage, or using the equity you've built up over time to get cash back out of your home.
Do you need an extra source of monthly income? If you're 62 or older, you may be able to access a portion of the equity in your home with a reverse mortgage loan.
A reverse mortgage is a type of home equity loan for older homeowners. The loan is called a reverse mortgage because instead of making monthly payments to a lender, as with a traditional mortgage, the lender makes payments to the borrower. The loan is repaid after the borrower moves out or dies. It is also known as a home equity conversion mortgage, or HECM, and are insured by the Federal Housing Administration (FHA).
The Federal Housing Administration, or FHA, provides mortgage insurance on loans made by FHA-approved lenders. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.
FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world.
Even if you have less-than-stellar credit or limited cash for a down payment, a FHA loan offers more flexible lending requirements than those for conventional loans.
VA (Veterans Administration) loans are available to individuals who have served or are currently in the U.S. armed forces that meet eligibility requirements. The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to 4 times a Veteran's available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price. Requirements are generally 2 years in the armed forces with veterans benefits. A Certificate of Eligibility is required. The seller can pay closing costs and prepaid items. There is a 100% financing option and there are no penalties for prepayment.Interested?
If the anticipated amount of your mortgage loan exceeds $424,100, we offer a variety of mortgage options which will meet your needs. So-called non-conforming jumbo loans can be either fixed or adjustable rate mortgages (See Conventional Loan Programs). Underwriting guidelines may vary depending on program selected, down payment and actual loan amount. A jumbo mortgage is a home loan for an amount that exceeds conforming loan limits established by Fannie Mae and Freddie Mac, who purchase loans from lenders. If a loan amount is higher than $424,100, then neither of the two government-sponsored entities will purchase that loan.Interested?
The HomeStyle® Renovation mortgage provides a convenient and economical way if you need to make moderate home improvements to make repairs and
renovations with a single-close first mortgage, rather than a second mortgage, home equity line of credit, or other, more costly methods of financing.
The HomeStyle Renovation is a single-close loan that enables borrowers to purchase a home that needs repairs, or refinance the mortgage on their existing home and include the necessary funds for renovation in the loan balance. The loan amount is based on the "as-completed" value of the home not the present value.
In Florida, a USDA Mortgage provides a low‐cost insured home mortgage loan that suits a variety of options.
A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers. A USDA loan is likely the best home loan option if you want to purchase a home with no down payment.
If you're unsure about your credit rating, or have concerns about a down payment when you're doing a home loan comparison, USDA Rural Mortgage Loans can give you piece of mind with zero-down, super low closing costs and low monthly mortgage insurance.
We would love to hear from you or answer any mortgage related questions you may have.
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