When Banks Say No! We Say Yes! YOUR LOAN PROGRAM !  YOUR RATE & TERMS!
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing only the State of Florida, offering over 48 loans programs including Conventional Loans, Non- Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans, to name a few and specializing in Bank Statement Loans or “stated loans” requiring no Tax Return verification and much more. * No broker or lender fees are for FHA,VA, USDA and Conventional loan types Main Office: 2151 Consulate Dr. * Suite 8 * Orlando, FL., 32837 * Telephone * (800)856-7097 * (800) 655- 1345 * (407) 300-2558 * Fax (877) 401-9955
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* Disclaimer: All Loan programs, rates and terms can change without notice and are subject to credit and underwriting approval. Loan charts highlight min/max constraints, assumptions & random scenarios only. We will always work hard to approve your loan but there are no guarantees of any kind expressed or implied that any loan we be approved. Licensed in Florida Only. When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp. Florida lender license # MLD106. © 2007 - 2023 1st Florida Lending Corp. - All rights reserved
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The Loan Pre-Approval Process
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We offer over 48 loan programs in every county in the State of Florida as follows;  Alachua County,Baker County,Bay County,Bradford County,Brevard County,Broward County,Calhoun County,Charlotte County,Citrus County,Clay County,Collier County,Columbia County,DeSoto County,Dixie County,Duval County,Escambia County,Flagler County,Franklin County,Gadsden County,Gilchrist County,Glades County,Gulf County,Hamilton County,Hardee County,Hendry County,Hernando County,Highlands County,Hillsborough County,Holmes County,Indian River County,Jackson County,Jefferson County,Lafayette County,Lake County,Lee County,Leon County,Levy County,Liberty County,Madison County,Manatee County,Marion County,Martin County,Miami-Dade County,Monroe County,Nassau County,Okaloosa County,Okeechobee County,Orange County,Osceola County,Palm Beach County,Pasco County,Pinellas County,Polk County,Putnam County,Santa Rosa County,Sarasota County,Seminole County,St. Johns County,St. Lucie County,Sumter County,Suwannee County,Taylor County,Union County,Volusia County,Wakulla County,Walton County,Washington County
While purchasing a new home can be exciting, navigating the mortgage process can be overwhelming depending on the type of loan and especially if you are a “first time home buyer”. Knowing what steps, you will need to take can help overcome the anxiety during the mortgage lending process which involves several steps that potential homebuyers go through to secure a loan for purchasing or refinancing a property. Below is a basic overview of the typical mortgage lending process: For a Purchase Once you have decided to move forward with a purchase, you will need to obtain a loan pre- approval letter. In today’s market, is the best way to approach real estate agent is with a loan pre- approval letter in hand Also, a loan pre-approval letter provides a signal to the seller that you’re a serious buyer and confirms that your finances and credit were reviewed with a loan amount you may qualify for Being prepared is particularly useful when making an offer on a house. If you intend to negotiate the deal (and why wouldn’t you?), a pre-approval letter gives your offer a little extra gravity. Being ready to go can also help in a hot market where it’s not uncommon for sellers to entertain multiple, simultaneous offers. Don’t forget that Sellers tend to focus on the path of least resistance: the buyer who is pre- approved. A loan pre-approval letter this is not a loan commitment but is the first step in the process. What type of loan would I qualify for? If you are not sure what type of loan, rate and term would be the best fit for you. We suggest that you complete our online general loan questionnaire which provides us with some basic information that will allow us to offer some suggestions. Once you have completed and submit the questionnaire, you will assign a loan officer that will contact and request your financial’s and credit history. They will need to review a credit report as part of the pre-approval process. You can provide us with your own credit report like credit karma or equivalent for our initial review. In some cases, the loan officer may ask you to go ahead and complete a 1003 Loan Full Application Online, which requires more personal information. Getting Organized During the pre-approval phase, one of the best things to do is to gather up documents needed for the loan pre-approval. Anything you can do, to prepare in advance, will reduce the stress when you find the right home and make an offer. At that stage, you’ll be able to upload all your paperwork to the assigned loan officer at once. The Pre-Approval Letter After your loan officer assembles and reviews your credit report and documents needed for mortgage pre-approval. They will render a “yes” or “no” decision. If the answer comes back “yes,” you will be issued a Certified Loan Pre-Approval Letter which indicates the maximum loan amount you are qualified for, required down payment type and type of loan and is helpful to show the seller and/or sellers agent that you are a serious, pre- qualified buyer. Once the seller has accepted your offer, here’s what you need to know to make sure your mortgage application stays on track: 1. You signed the home purchase contract!. Now that you’ve have taken the first step in the home purchase, the mortgage process begins. At this stage, you will be asked to supply additional documentation relating to your income, debts and assets. 2. Order a home inspection. Schedule a home inspection as soon as you can. Doing so will give you adequate time before your closing date to negotiate with the seller if the inspection reveals any unforeseen issues. 3. Be responsive to your loan officer. If you applied and qualify for a mortgage, you’ll receive conditional approval. At this stage, underwriting may require even more documentation depending our what loan type. Make sure to respond promptly to keep your application moving forward. 4. Purchase homeowners’ insurance. Underwriting will require proof of insurance before the loan can receive final approval. 5. Let the process play out. Know what’s happening behind the scenes: Your loan officer will order the appraisal to ensure that the value of the home you’re buying is in line with the purchase price. The appraiser will visit the home and compare it to other recently sold homes in a similar price range. Your loan officer will also order a title search to make sure there are no outstanding liens on the property. Learn more about the home appraisal process 6. Avoid taking on new debt. While your loan is in process, avoid opening new credit cards or making other major financial changes. New loans or other changes that affect your debt-to-income ratio could get in the way of your mortgage approval. 7. Lock in your rate. Your rate must be locked in no later than 10 days prior to your closing date. Ask your loan officer for more details 8. Review your documents. Once your loan is approved and your inspection, appraisal and title search are complete, your loan officer will set a closing date and let you know exactly how much money you’ll need to bring to your closing. 9. Arrange to pay your down payment and closing costs. You’ll need to get a cashier’s check or arrange to wire money to cover your down payment and closing costs. 10. Close on your home. At the closing, be sure to read all the documents you receive and ask any questions you may have about the terms of the agreement. After you’ve signed everything, you can unlock the door and celebrate your new home!