First Time Home Buyer Port St. Lucie Florida
*As Low As 3% Down
* VA Loans – No Money Down
* Close in as fast as 15 Days!
* First Time Home Buyer Programs
* Non-QM Loans -Jumbo Loans
* P&L Loans and Bank Statement Loans
CambridgeHomeLoan.com provides best mortgage rates Port St. Lucie Florida for First time home buyers, FHA Loans, VA Loans, Jumbo Loans and Non-QM Loans. We are helping borrowers in Port St. Lucie Florida to qualify for the best First Time Home Buyer loan to exceed their expectations.
First Time Home Buyer Port St. Lucie 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
Qualify for a 3% down Home Loan in Port St. Lucie Florida. Use this application to pre-qualify and start shopping for your new home in Port St. Lucie 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 Port St. Lucie Florida
Port St. Lucie is a city on the Atlantic coast of southern Florida. The Port St. Lucie Botanical Gardens features areas devoted to orchids, bamboo and native plants, as well as butterflies and hummingbirds. The Riverwalk Boardwalk winds through nearby mangroves. Southeast of the center, the waterways of the North Fork St. Lucie Aquatic Preserve are home to manatees, river otters, egrets and alligators.
Schools in and around Port St. Lucie
Port St Lucie High School
1201 SE Jaguar Ln · +1 772-337-6770
Treasure Coast High School
1000 SW Darwin Blvd · +1 772-807-4300
Northport K-8 School
250 NW Floresta Dr · +1 772-340-4700
Things To Do In and Around Port St. Lucie Florida
- Elliott Museum (Art & tech exhibits tell state’s history)
- Port St. Lucie Botanical Gardens (Scenic destination with unique plants)
- PGA Golf Club at PGA Village (Golf)
- Sailfish Splash Waterpark (Playgrounds, pools & inner-tube polo)
- Nettles Island
- Savannas Preserve State Park Environmental Education Center (Wetlands habitat & recreation area)
- 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 Loans (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.
USDA Loans (United States Department of Agriculture): USDA loans are intended for rural and suburban homebuyers with low to moderate incomes. They provide 100% financing and often have lower 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.
Fixed-Rate Mortgages: Fixed-rate mortgages have a constant interest rate over the loan term, providing predictable monthly payments. Common terms include 30, 20, or 15 years.
Adjustable-Rate Mortgages (ARMs): ARMs have interest rates that can fluctuate after an initial fixed period. They often start with lower rates but can increase over time based on market conditions.
Interest-Only Loans: Interest-only loans allow borrowers to pay only the interest for a specified period, typically 5 to 10 years. Afterward, payments increase to cover principal and interest.
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 (P&L) Loans: Suitable for self-employed individuals who may have fluctuating income. Closest thing to a no doc loan.
Statement Loans: 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 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 Loans: Fix 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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