Ocala USDA, FHA, and VA Home Loans

If locating the perfect home for you and your family is a challenging task, finding the right kind of mortgage to finance your purchase is yet another tough challenge to overcome. We have 2 preferred lenders that provide 100% USDA Loans, get a FHA Loan with a 600 credit score and VA Home Loans in any area in Ocala.

With mortgages at a all time low, its now a great time to buy a home, have the freedom to save more money with mortgage rates being so low. Our preferred lender has mortgage programs for teachers, nurses, correction offices, police officers, and Veterans. There are many 100% finance programs for rural homes in Ocala, Florida. With Mortgage Rates at a all time low, get a quote from one of preferred lenders in the area. Before you start your search for a home finding Mortgage Lenders in Ocala, Florida should be your first time!

If you are a FSBO it's a good idea to know more about  mortgage programs, with so many homes for sale by owners, I would recommend that you educate yourself on all the different home loan programs out there. With some many Ocala, Florida mortgage companies around, best bet is to find one that offer professional service and have your best interested at heart. Mortgage rates are at a all time low, when using one of my preferred lenders you will get the best deal

Information about 100% Financing for Home Loans in Ocala, FL

The programs are prefect for first time home buyer in Ocala Florida. When home prospects call looking for a home, we take them through the necessary steps to getting a home. Some of these programs are Home Loans With No Down Payment, you must have a 620 credit score and here is a quick glance at the home loan options you can choose from:

USDA Loans

Taking a USDA home loans in Central Florida is a great option primarily because it enables you to buy your home with no down payment and 100% financing. A government insured home loan, the USDA loans is a highly affordable option for you. An added advantage of this home loan is the fixed interest rate and is best if you are seeking rural home loans . This ensures that you are insulated from upward fluctuations in interest rates and that you can plan ahead for your entire loan repayment since you have a clear picture of what is due at every stage of the loan.

One of the most attractive features of the 100 percent USDA Rural Development Loan is that you can avoid the closing costs of the home purchase deal as well. With these loans it can be arranged for these costs to be borne by the seller or added to your total loan amount.

Eligibility for a USDA Loans

The four factors that impact your eligibility for 100% USDA loans are:

  • Credit score
  • Loan income restrictions
  • Your place of residence (USDA Eligibility click here to check)
  • Ownership of other property

FHA Loan

FHA loans in Central Florida is a great way for first time home buyers to purchase their first home.These are mortgage loans insured by the Federal Housing Administration. The FHA has a list of approved lenders for whom the loans are insured so that they are protected in event the borrower cannot repay the loan. This insurance allows these lenders to keep the loan terms more flexible and affordable for the borrower. If you are looking for FHA loan and have a a credit score of 600 or higher you can get a Federal Housing Administration home loan. With our preferred lender you can close a FHA Loan in as little as 20 business days!

Eligibility for a FHA Loan

  • Credit score 580
  • 3.5% Down
  • Have 2 to 3 good credit lines
  • No late payments over the last 12 to 24 months!

FHA loan are of different types, for example: fixed rate, adjustable rate, refinance, reverse mortgage, growing equity mortgage and you can choose one in line with your needs.

Eligibility for a FHA Loan

These loans are easy to qualify for and you can get your FHA mortgage, even if your credit score is low. Most mortgage programs offer FHA programs. If you cannot make a substantial down payment on your dream home, this kind of loan may be perfect for you. Lending limits for these loans may vary from location to location. FHA Loans For Bad Credit 0% Down can happen with the help of the seller. To know about the limits for areas throughout Central Florida, if you need to check FHA Mortgage Eligibility Requirements click here.

The new 3% Conventional Home Loan

This is the Fannie Mae 97% LTV funding offered to home buyers who cannot afford a large down payment. These loans are for those buyers who may qualify for mortgage but whose inability to access substantial funds for down payment prevents them from buying their dream home. With this new loan product, buyers have an excellent loan product that does not require the mortgage insurance that is associated with typical FHA loan products.

Eligibility for 3% Conventional Home Loan

The most significant eligibility criteria you should be aware of is that at least one of the home buyers taking the 3% conventional home loan in Central Florida conventional loan should be a first time buyer. A first time home buyer is a spouse or a person who have not bought a home in 3 years or more.

VA Home Loans

An home loan in Ocala, Florida offers unique benefits for veterans, active military personnel as well as their spouses. This loan product is especially designed to offer the most affordable and flexible loans to veterans supported by the VA’s guarantee of a portion of the loan. The most significant advantage of your VA home loans is that you can buy your home with zero down payment. VA loans are my favorite, being a disabled Veteran myself, i know the importance of getting the right home for you and your family. With our preferred lender Veteran can get an home loan with no credit score and a score low of 590. With the 590 credit score you will have to pay for your own appraisal, if you have a credit score of 640 your appraisal is free! If you are looking for a zero money down home loan for veterans, we can help you with our Veteran Realty Service!

The main benefits you enjoy with VA home Loans are:

  • No mortgage insurance
  • No minimum credit requirements
  • Low interest rate
  • Zero early repayment penalties

Eligibility for VA Loans

A fact to know here is that while the VA does not specify a credit score for eligibility, most lenders require that you have a score of 620 or above. You can not get a VA Loan With Bad Credit.The VA Loan Rates 30 Year Fixed, Apart from this, since this is a special loan designed for veterans you, the home buyer, are required to establish VA Home Loan Requirements one of the following:

  • You logged in 90 consecutive service days during war time
  • You logged in 181 service days during peacetime
  • You were in the Reserves or the National Guard for a period of over 6 years
  • Your spouse was a service member who lost his/ her life on duty or owing to a disability that was service related

If you are a veteran and located in Central Florida, a VA home loan is the most ideal loan option to finance your home purchase. Contact us to today to know more about the various loan options you have and the benefits you stand to gain from each.

How to Find Mortgage Rates

To find a Central Florida mortgage rates online, you can chose to go to your local bank or you can use this to find the update Florida mortgage rates online. In closing, our preferred lenders will assist you with all of the mortgage programs that were mention above; USDA Loan, FHA Loan, the new 3% conventional mortgage and VA Home Loans. It'd important that you understand all the different mortgage programs, we will provide all the information you need, being a former mortgage broker I have the expertise to help with both. Call us today to get you per-approval for a home loan today!

Read more information about Buying a Home, or if you are looking to sell your home. Use our advance Ocala MLS search tool to find Ocala Florida real estate. Get the latest news from our Florida Real Estate Blog on the current events related to the real estate market in your area.

Following Cities our Preferred Lenders Service

Anthony Marion Oaks Orange Springs Summerfield
Belleview McIntosh Reddick The Villages
Citra Ocala Salt Springs  
Dunnellon Ocklawaha Silver Springs Shores  
Fort McCoy Orange Lake Silver Springs  

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Frederick Franks
The Fred Franks Team

915 SE 17th St.
Ocala, FL 34471
Contact Us

David Cooper

Sr Loan Originator

NMLS: 719292

Cell 704 942 4093

Office 980 245 5680

Fax 877 272 3705

The Fred Franks Team

352-591-3350Contact Us 
915 SE 17th St. - Ocala, FL 34471
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