Asset depletion is a calculation of a borrower's liquid assets to determine a qualifying monthly income to service the loan amount. Liquid assets generally include checking, savings, 401k, pensions, stocks and other investments etc. that could easily liquidated or turned into cash.
Our Jumbo land Super Jumbo loans are ideal for home buyers looking for higher priced luxury homes. These loans are designed to simplify home buying in pricey markets by covering the full cost of the loan, so there is no need for borrowers to drain their cash reserves.
Real Estate Investment Loans can be a long-term or a short-term endeavor and the needs of real estate investors are different from the needs of a typical home buyer. At 1st Florida Lending we understand investment financing and make it easy to obtain funding using different sources of income.
A Reverse Mortgage loan for homeowners over the age of 62 that can access a portion of the home’s equity and uses the home as collateral. The loan generally does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away.
Our VA Loan as many advantages that make it one of the most appealing paths to home ownership and this great benefit is reserved exclusively to those who bravely served our country and select military spouses. When combined, these benefits allow substantial cost savings.
USDA is for financing qualifying properties in rural areas. USDA loans offer low interest rates and 100% financing. Never assume that you wont qualify. Contact our certified USDA loan officers who will quickly identify your needs, and offer you the type of expert advice you deserve
A Second Mortgage allows you to use your home’s equity and put it to work. Instead of having that money tied up in your home. It’s available for expenses you have right now. We offer both Self-Employed using Bank Statement to qualify as well as Full Doc Second Mortgages.