We are Hollywood Florida’s #1 First Time Home Buyer loan lender. We are helping borrowers in Hollywood Florida to qualify for the best First Time Home Buyer loan to meet their requirements.
CambridgeHomeLoan.com has a number of First time home buyer loan programs from simple W2 employees to full 2 year tax returns, self employed loans, Non QM loans and more. First time home loan programs offer low down payments and fees.
Contact us today to craft the loan that best fits your needs.
Some qualifications below.
FHA Loan – First Time Home Buyer and HomeReady Program Terms
- A credit score of at least 580 for a 3% down home loan
- A credit score of 500 to 579 for a 10% down payment
- FHA loan with 3.5% down payment requirement
- Mortgage insurance that is offset due to lower FHA interest rates than a conventional loan.
- FHA Debt to income ratio of 50% or less
Qualify for a 3% down HomeReady Home Loan in Hollywood Florida. Use this application to pre-qualify and start shopping for your new home in Holiday Florida today! Purchase, Refinance, Cash Out Refinance.
Contact us to find out what the loan limits in the county you would like to purchase in. Call now 800-826-5077.
Prequalify now to see how much of Loan you can qualify for.
Benefits of Being A First Time Home Buyer In Hollywood Florida
- Low down payment with a minimum of 3% down payment
- Lower credit scores. Down to 580 to for 3.5% down payment
- VA Loan with No down payment required
- For First Time Home Buyer's, FHA provides a guarantee loans to the lender who is actually extending the loan on an FHA loan.
- To apply for an FHA loan, you'll need to provide your Social Security number, two years of tax returns and employment verification.
- Simple Application and Approval Process
- To apply for an FHA loan, you'll need to provide your Social Security number, two years of tax returns and employment verification.
Most First Time Home Buyer Loan Hollywood Florida Loan Programs are provided by Mortgage banks and guaranteed by the government agency that is providing the program. CambridgeHomeLoan.com can help you with the best program to fit your loan needs.
CURRENT FIRST TIME HOME LOAN PROGRAMS
- Conventional 97 mortgage – Fannie Mae and Freddie Mac both back the Conventional 97 program, which only requires 3 percent down, but a minimum credit score of 620.
Like most conventional low-down payment mortgage programs, the borrower is also required to pay for (PMI) Private Mortgage Insurance, which will be an additional cost with their monthly mortgage payment. - HomeReady mortgage – Fannie Mae’s HomeReady mortgage program also requires just 3 percent down (with PMI, although it might be less expensive), and offers more flexible underwriting.
- Home Possible mortgage – Freddie Mac’s Home Possible mortgage program is similar to the HomeReady mortgage, with a 3 percent minimum down payment.
- HomeOne mortgage – This Freddie Mac mortgage also allows for just 3 percent down with PMI, but is available only to first-time homebuyers and comes with some special criteria.
You don’t directly deal with Fannie Mae or Freddie Mac to get these loans. If you would like to discuss one of these loans call 800-826-5077 or CLICK HERE to qualify.
Government-backed mortgage loans Hollywood Florida
- FHA loan – Insured by the Federal Housing Administration, FHA loans allow borrowers to buy a home with a minimum credit score of 580 and as little as 3.5 percent down, or a credit score as low as 500 with at least 10 percent down.
However, keep in mind that if you put down less than 20 percent, you’ll have to pay FHA mortgage insurance of 1.75 percent upfront plus annual premiums.
- VA loan – Qualified U.S. military members (active duty, veterans and eligible family members) can apply for loans backed by the U.S. Department of Veterans Affairs (VA).
VA loans come with lower interest rates compared to other loan types, and don’t require a down payment, though there is a funding fee to pay upfront or roll into the balance.
APPLY NOW!
- USDA loan – The U.S. Department of Agriculture (USDA) guarantees loans for some rural homes for up to 100-percent financing, meaning no down payment. To qualify, you have to buy a home in a USDA-eligible area.
Good Neighbor Next Door
The Good Neighbor Next Door program, sponsored by the U.S. Department of Housing and Urban Development (HUD), provides housing aid for law enforcement officers, firefighters, emergency medical technicians and pre-kindergarten through 12th-grade teachers.
Through the program, borrowers can receive 50 percent off a home in a “revitalization area,” provided they live in the home for at least three years. You can search for properties available in your state on the program’s website.
HomePath Ready Buyer Hollywood Florida
Fannie Mae’s HomePath ReadyBuyer program is geared toward first-time buyers interested in a foreclosed home. After taking a required online homebuyer education course, eligible borrowers can receive up to 3 percent in closing cost assistance toward the purchase of a property that’s been foreclosed upon and is now owned by Fannie Mae, called a HomePath home.
Of course, this limits your choice of properties, which (like many foreclosed homes) might need much repair, so this program isn’t for everyone.
Hollywood Florida is a city on Florida’s east coast, between Fort Lauderdale and Miami. Palm-dotted Hollywood Beach is backed by the long Hollywood Beach Broadwalk. ArtsPark at Young Circle features an outdoor amphitheater and a striking fountain.
Nearby, the Art and Culture Center of Hollywood offers contemporary exhibitions and performances. The Anne Kolb Nature Center is a reserve with mangrove trails and an aquarium.
Schools in Hollywood, FL
Avant Garde Academy
2025 McKinley St · +1 754-816-6153
Ben Gamla Charter School
2620 Hollywood Blvd · +1 954-342-4064
South Broward High School
1901 N Federal Hwy · +1 754-323-1800
In Addition To First Time Home Buyer Hollywood Florida Loan Programs like FHA Loans and HomeReady 3% Down Loans, CambridgeHomeLoan.com offers loans for just about any real estate Purchase or, Refinance or Cash Out Refinance Opportunity.
Things To Do In and Around Hollywood Florida
- Seminole Hard Rock Hotel & Casino – Hollywood, FL (Posh music-themed lodging with a casino)
- Oleta River State Park (Verdant escape from big-city stress)
- Flamingo Gardens (Native wildlife, rare plants on 80 acres)
- Dr. Von D. Mizell-Eula Johnson State Park (Water sports & wildlife on 310 acres)
- Hollywood Beach Broadwalk (Waterside promenade with restaurants)
- Gulfstream Park Racing and Casino (Horse racing, gaming & shopping complex)
EXPERT HOME LOAN ADVICE
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