First Time Home Buyer Miami Beach Florida

  • As Low As 3% Down
  • FHA, VA Loans, HomeReady
  • Jumbo, Non-QM Programs
  • Closing As Fast As 15 Days!

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Miami Beach Florida best rates and terms for home loans. #1 First Time Home Buyer loan lender. We are helping borrowers in Miami Beach Florida to qualify for the best First Time Home Buyer loan to meet their borrowing requirements. Some First Time Home Buyer loan programs in Miami Beach Florida require lower minimum credit scores and down payments to make it easier to qualify.

First Time Home Buyer Miami Beach 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 Miami Beach Florida. Use this application to pre-qualify and start shopping for your new home in Miami Beach Florida today! Purchase, Refinance, Cash Out Refinance.

Prequalify now to see how much of Loan you can qualify for. Call now 800-826-5077. 

Benefits of Being A First Time Home Buyer In Miami Beach Florida

Here is a list of just some of the home loans available in Miami Beach from CambridgeHomeLoan.com

1. FHA Loans (Federal Housing Administration Loans):Insured by the FHA, these loans offer low down payment options, making homeownership more accessible. Benefits in Miami Beach, Florida:** Ideal for first-time homebuyers in Miami Beach, FHA loans provide a lower down payment requirement, facilitating entry into the real estate market.

2. Conventional Loans: Standard mortgage loans not backed by a government agency, often requiring a higher credit score and down payment.  Benefits in Miami Beach, Florida:  Conventional loans are suitable for homebuyers in Miami Beach with solid credit and financial stability, offering flexibility in property types and terms. Starting at 5% Down!

3. VA Loans (Veterans Affairs Loans):- Available to eligible veterans, active-duty service members, and surviving spouses, offering favorable terms and no down payment. Benefits of a VA loan in Miami Beach, Florida: A great option for military personnel in Miami Beach, VA loans provide the opportunity to purchase a home with no down payment, making homeownership more accessible.

4. USDA Loans (United States Department of Agriculture Loans): Designed for rural and suburban homebuyers, offering low to no down payment options. Benefits in Miami Beach, Florida: While Miami Beach is urban, nearby rural areas may qualify for USDA loans, providing a pathway to homeownership with favorable terms.

5.  Miami Beach Jumbo Loans: – Mortgages that exceed the conforming loan limits set by government-sponsored enterprises, suitable for high-value properties. JumboLoan Benefits in Miami Beach, Florida: Ideal for luxury properties in Miami Beach, jumbo loans accommodate larger loan amounts, allowing buyers to finance higher-end homes. No Doc and Low Doc loans for self employed borrowers including P&L only and Bank Statement only home loans. 

6. First-Time Homebuyer Loans Miami Beach:
Various loan programs specifically tailored to assist individuals purchasing their first home. Benefits of a first time home loan in Miami Beach, Florida: First-time homebuyer loans often come with low down payments and favorable terms, supporting residents in Miami Beach entering the housing market.

7. Foreign National Loans Miami: Allow for foreign nationals including ITIN and resident aliens to purchase a home with a mortgage loan.

8. Non-QM Loans Miami: Non-QM Loans including Bank Statement Loans, P&L Only Loans, Foreign National and DSCR Loans. These loans allow for limited documentation and in some cases have no income or tax return requirements. 

When exploring home loans in Miami Beach, it’s crucial for potential buyers to consider their financial situation, goals, and the specific benefits offered by each loan type. Additionally, contacting a mortgage professional at CambridgeHomeLoan.com can provide personalized guidance based on individual circumstance.

Miami Beach is a south Florida island city, connected by bridges to mainland Miami. Wide beaches stretch from North Shore Open Space Park, past palm-lined Lummus Park to South Pointe Park. The southern end, South Beach, is known for its international cachet with models and celebrities, and its early-20th-century architecture in the Art Deco Historic district with pastel-colored buildings, especially on Ocean Drive

Schools in and around Miami Beach

Mater Beach Academy
8625 Byron Ave · +1 305-864-2889

Mater Academy Mount Sinai
4300 Alton Rd · +1 305-604-1453

Feinberg School
1420 Washington Ave

first time home buyer miami beach
This trendy area of Miami remains the place to see and be seen. The hub of the Miami Art Deco movement, South Beach is a walkable beachfront area of boutique shops, fine dining, and nightclubs. Most people who live in South Beach live in stylish low-rise or high-rise condo units. Not just Miami Beach, we are serving all of First Time Home Buyer Florida market.

Things To Do In and Around Miami Beach Florida

  • Fontainebleau Miami Beach (Luxe 1950s beachside hotel with clubbing)
  • Ocean Drive (Street lined with Art Deco buildings)
  • Art Deco Welcome Center (Miami’s iconic Art Deco district)
  • The Bass (Art & artifacts from ancient to modern)
  • South Pointe Park Pier (Scenic, seafront outdoor recreation spot)
  • Lincoln Road (Stylish promenade for shopping & dining)

 

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