First Time Home Buyer Sarasota Florida

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Best mortgage rates Sarasota for First Time Home Buyer including FHA Loans, VA Loans, Jumbo Loans, Conventional and Non-QM Loans. We are helping borrowers in Sarasota Florida to qualify for the best First Time Home Buyer home loan program to meet their borrowing requirements. 

First Time Home Buyer Sarasota 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
  • VA Loan – No Money Down!
  • 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 Sarasota Florida. Use this application to pre-qualify and start shopping for your new home in Sarasota Florida today! Purchase, Refinance, Cash Out Refinance.

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Jumbo Home Loans Sarasota with Limited Documentation, P&L Only and Statement only loans.
Perfect for business owners looking to purchase a primary residence.

Benefits of Being A First Time Home Buyer In Sarasota Florida

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FHA loans Sarasota 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 Sarasota (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 and Super Jumbo Loans Sarasota: 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 (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 Loan Sarasota: 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.

Home Mortgage Loan Sarasota Florida

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About Sarasota Florida
Sarasota is a city south of Tampa on Florida’s Gulf Coast that was once the winter home of the Ringling Brothers Circus. Today, it hosts a number of cultural institutes, notably the Ringling Museum of Art, which showcases old masters and modern art. It’s also the gateway to miles of beaches with fine sand and shallow waters, such as Lido Beach and Siesta Key Beach.

Schools in and around Sarasota

Southside Elementary School
Public, K-5 | 729 students

Ashton Elementary School
Public, PK-5 | 1,060 students

Phillippi Shores Elementary School
Public, PK-5 | 789 students

Lakeview Elementary School
Public, PK-5 | 599 students

first time homebuyer sarasota
Beautiful beaches, warm weather, and enviable recreational and cultural amenities earn Sarasota a spot on “best of” lists almost every year.
 
In 2020, U.S. News and World Report honored the city as the best place to live in the U.S. for retirees, naming superb restaurants and shopping among its many attractions. Not just Sarasota, we are serving all of First Time Home Buyer Florida market.
 
 

Things To Do In and Around Sarasota Florida

  • The John and Mable Ringling Museum of Art (Antiquities to modern works on display)
  • Siesta Key Beach (Fine white sand that stays cool)
  • Marie Selby Botanical Gardens Downtown Sarasota campus (Green oasis along Sarasota Bay)
  • Mote Marine Laboratory & Aquarium (Aquarium starring stingrays & sharks)
  • Lido Key Beach (Concessions, picnic areas & a pool)
  • Sarasota Jungle Gardens (10 acres of gardens & exotic animals)

 

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