YOUR HOME
LOAN IN FLORIDA
Why Florida Home Trust?
Florida Home Trust Mortgage has proudly established itself as a premier lender renowned for its top-notch service and unwavering commitment to excellence.
With a track record dating back to 2002, FHT has weathered market storms and emerged stronger, standing alongside its esteemed parent banking syndicate, FACEBANK International. Our mission? To streamline and simplify the real estate financing process, providing unparalleled ease and peace of mind to our valued clients.
FHT provides an incomparable, straight forward, relaxed and modest approach to real estate financing.
Useful Resources
Requirements
Requirements
The following information is usually required during the loan process.
- Credit report (if applicable)
Assets:
- Bank statements for the past two months
- Investment account statements for the past two months (if applicable)
- Retirement account statements for the past two months (if applicable)
Liabilities (as applicable):
- Credit card account information, including balance & monthly payment
- Auto loan account information, including balance & monthly payment
- Personal loan account information, including balance & monthly payment
Income:
- Current pay stubs and W2, or if self-employed, past two years of tax returns
If you currently own Real Estate:
- Mortgage account information, including balance & monthly payment
- Home equity account information, including balance & monthly payment (if applicable)
- Home insurance policy information
Additional documents that might be requested
Commonly requested items during processing that may not have been collected during the application include:
- Updated account statements for listed assets in the application that may have changed in value.
- Information about debts or credit report items that may have been delinquent or not accurate.
- Evidence of your mortgage or rental payments, such as canceled checks.
- An irrevocable gift letter if you are receiving a monetary gift from a relative.
- The processor is collecting this information before presenting it to an underwriter. An underwriter reviews all the information in your loan file to determine if the application meets the approval guidelines. With approval, we will provide you with a letter of commitment, which is a promise from us to make a loan based on specific terms and conditions.
- Getting a mortgage approved for your new or existing home might seem like finding your way through a financial maze. There are hundreds of available loan programs being offered from thousands of mortgage brokers, bankers, lenders, finance companies, credit unions, even stock brokerage firms.
Before you Apply
Before you apply
Before you start the process of choosing a mortgage company, a good first step is to determine a monthly mortgage payment that will fit into your current budget.
A general rule is to keep your payment at less than 30% of your gross salary.
Don’t forget to leave room for incidentals, such as insurance, taxes, association dues and other costs that factor into the total costs of the property you are considering buying.
Programs
Programs
Adjustable Rate Mortgage (ARM)
An ARM, or Adjustable Rate Mortgage, is a home loan where the interest rate you pay fluctuates over the loan term based on market conditions.
Key Features of ARMs
- Initial Fixed-Rate Period: ARMs begin with a fixed interest rate for a set period, typically 1 to 5 years.
- Adjustable Rate: After the initial period, the interest rate adjusts periodically based on a market index plus a margin set by the lender.
Advantages of ARMs
- Lower Initial Rates: ARMs often offer lower interest rates compared to fixed-rate mortgages for the initial period.
- Lower Qualifying Rates: The lower initial rates can make qualifying for a mortgage easier, especially for first-time homebuyers.
- Potential for Savings: If market interest rates remain low during the adjustable period, you could save money on your monthly payments.
Who Should Consider an ARM?
An ARM might be a good option for you if:
- You plan to stay in the home for a limited period, ideally within the initial fixed-rate period or shortly after.
- You prioritize lower monthly payments in the initial years.
- You are comfortable with the potential for interest rate fluctuations after the fixed-rate period ends.
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Variations of ARMs
ARMs come with different initial fixed-rate period options, such as 1 year, 3 years, or 5 years. Choose the option that best suits your plans and risk tolerance.
Mortage Calculator
Property Types
Apartments
Multi-unit residential buildings owned by an investor or a corporation, typically consisting of several rental units.
They are valued based on rental income, occupancy rates, and location.
Single Family
Detached dwellings intended for one family, commonly owned and occupied by homeowners.
These properties are assessed based on the borrower’s creditworthiness, the property’s value, and the local housing market
Multifamily
Residential buildings containing multiple separate housing units, such as duplexes, triplexes, or larger complexes.
Condominium
Residential buildings containing multiple separate housing units, such as duplexes, triplexes, or larger complexes.
A type of residential property where individual units are owned separately, while common areas like hallways, lobbies, and recreational facilities are jointly owned by all unit owners. Each owner has full ownership of their unit’s interior space and shares responsibility for the upkeep of common areas through a homeowners’ association (HOA)
FAQs
We finance condotels on a case by case basis. Please reach out to us with a specific property and we can confirm whether or not we can proceed.
Florida Home Trust Mortgage, Inc 