First Time Home Loan Kissimmee

First time Home Buyer as low as 3% Down
VA Loans – No Money Down!
Home Loans for Business owners -Low Doc Loans
Close in as fast as 15 Days!
Foreign National and Itin loans
Non-QM Home Loans

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Best mortgage rates for First Time Home loan programs in Kissimmee Florida are backed by the Federal Housing Administration (FHA). These popular first time homebuyer loans require lower minimum credit scores and down payments to make it easier to qualify.

First Time Home Loan Kissimmee Florida

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 with low down payments and fees. Contact us today to craft the loan that best fits your needs. Some qualifications below.

FHA 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 Home Loan in Kissimmee Florida. Use this application to pre-qualify and start shopping for your new home in Kissimmee Florida today! Purchase, Refinance, Cash Out Refinance.

Best mortgage rates kissimmee Florida start with your application.

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 Kissimmee Florida

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Kissimmee is a city in central Florida’s Osceola County, just south of Orlando. It’s defined by its proximity to the region’s multitude of amusement parks, including the massive Walt Disney World Resort complex. The city lies along the northwest shore of Lake Tohopekaliga (nicknamed Lake Toho), and its verdant Kissimmee Waterfront Park encompasses walking paths, playgrounds and a fishing pier.

Schools in Kissimmee, FL

Osceola High School
420 S Thacker Ave · +1 407-518-5400

Kissimmee Elementary School
3700 W Donegan Ave · +1 407-935-3640

Kissimmee Middle School
2410 Dyer Blvd · +1 407-870-0857

first time home buyer kissimmee
Kissimmee is calm and peaceful. Though there are some areas (Orange Blossom Trail) that are ragged, overall everyone is a community. Now that more money is being put into the town, lots of apartments and buildings are being constructed. In a few years, this small town will be boarding on Orlando! Not just Kissimmee, we are serving all of First Time Home Buyer Florida market.

Things To Do In and Around Kissimmee Florida

  • Walt Disney World® Resort (Famed theme parks, lodging, shops & more)
  • SeaWorld Orlando (Aquatic theme park with shows & rides)
  • Gatorland (Gator wrestling, snake show & swamp walk)
  • Discovery Cove (Swimming with dolphins & snorkeling spot)
  • LEGOLAND® Florida Resort (Lego-themed hotel with a pool & dining)
  • Aquatica Orlando (Aquatic theme park with shows & rides)
  • Conventional mortgage – Fannie Mae and Freddie Mac both back the Conventional mortgage program, which only requires 5 percent down Click Here to qualify. 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.

  • FHA Loan Kissimmee (Federal Housing Administration): FHA loans are government-backed loans designed for first-time homebuyers with lower credit scores. They require a smaller down payment (3.5%) but come with mortgage insurance premiums.

  • VA Loans (Department of Veterans Affairs): VA loans are available to eligible veterans, active-duty service members, and certain surviving spouses. These loans offer 100% financing and generally have competitive interest rates.
  • Jumbo Loans: Jumbo loans are used for high-value properties that exceed conventional loan limits. They typically require larger down payments and have stricter credit requirements.

  • Reverse Mortgages: Reverse mortgages are designed for seniors aged 62 and older. They allow homeowners to convert home equity into cash, with loan repayment deferred until the homeowner sells the home, moves out, or passes away.

  • Non-Qualified Mortgage (Non-QM) Loans: Non-QM loans are for borrowers who don’t meet conventional mortgage standards are self employed or do not have a w2 to possibly tax return to show income. Various types include:

  • Profit and Loss Loans (P&L) :  Suitable for self-employed individuals who may have fluctuating income. Closest thing to a no doc loan.

  • Statement Loans: 12 Month Bank Statement Loan Based on bank statements rather than tax returns, beneficial for those with non-traditional income documentation.

  • Foreign National Loans: Tailored for non-U.S. citizens or non-permanent residents.

  • Asset Depletion Loan: Uses assets like retirement savings, trust funds, treasuries, etc.,  to qualify you for a loan.

  • DSCR Loans: A DSCR loan Kissimmee is typically used when purchasing under an LLC or company and can provide up to 85% LTV. The DSCR loan is based on the assets income and not focused primarily on the borrower. There is no borrower income or employment requirement.

  • Fix and Flip LoansFix and flip loans are short-term financing options for real estate investors purchasing, renovating, and reselling properties. These loans often have higher interest rates but shorter terms. The can close in as fast as 5 days and provide up to 90% LTV.

 

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