Types of home loans
Types of Home Loans Available to Buyers
Our Tampa new home buyers agents will point you in the right direction
As a new home buyer, you have many financial options to consider and types of home loans available to help you purchase the home of your dreams. With the help of our knowledgeable new homes buyer agents, who understand the Tampa Bay new home market, you will find that securing a home loan may be easier than you think. Our New Homes Specialist agents are well-versed in all the different mortgages and types of home loans you can secure, and will make the process as easy as possible.
Let us show you how to get the most for your dollar with various types of home loans
Our agents work with many different lenders who have unique programs to meet your financial needs. Whether you secure a loan through a traditional bank, an in-house new home builder or through a mortgage broker, we can lead you through the process and answer any questions you may have. Common loan types include:
- Fixed-rate mortgage — In this type of mortgage, the interest rates stay the same over a 15, 20 or 30 year period.
- Adjustable-rate mortgage (ARM) or variable-rate mortgage — These types offer a lower interest rate initially, but the rates fluctuate over the life of the loan. Interest rates are directly proportionate to your loan payments.
- Federal Housing Administration loan (FHA) — If you are unable to qualify for a home loan, you may be eligible for an FHA loan offering you one low down payment. In these cases, the size of your loan may be limited.
- VA loan — Although the size of these loans may be limited, all eligible veterans, active duty personnel and surviving spouses are guaranteed government secured loans. They offer low or no down payments and competitive rates.
- Balloon mortgage — These fixed rate loans have relatively low payments scheduled for a specific fixed period. When the term is up, the entire balance of the mortgage is due. Although this means lower rates up front, it has risks.
- Interest-only — For a fixed term, you may secure an interest-only mortgage in which you pay only the interest and none of the principle. When the term is up, you are required to pay the balance in full, forced to refinance regardless of current interest rates or make higher payments to the bank.
Your local new home buyer agents with New Homes Specialist are familiar with various loan types and many Tampa Bay area lenders who can provide you with the best mortgage available to suit your needs. With more than 100 years combined real estate experience, you can rely on our team to see you through. Your new home is a serious investment and we walk beside you to make certain you are taken care of every step of the way.
When it comes to buying a new home in Tampa Bay, we save you time and money!
New Homes Specialist real estate agents have extensive knowledge and expertise of the Tampa Bay area. We know all the new home builders and negotiate the best deal for you! We have helped thousands of families find the perfect new home in many communities and areas, including Land O’Lakes, Westchase, Lakewood Ranch, Tampa, New Tampa, Fish Hawk Ranch, Brandon and Lutz. Some of the many Tampa Bay area builders we work with include:
- M/I — M/I builds homes in Florida and throughout the US and have a notable reputation for affordable quality.
- Lennar — Founded in 1954, and headquartered in Miami, Florida, Lennar builds new homes at all price ranges in several communities throughout the Tampa Bay area.
- KB Home — KB Home designs each home with you in mind. A well-known local builder, KB Homes can be found in many Tampa Bay neighborhoods.
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Contact us for personal service and guidance understanding all home loans available to new home buyers
Deciding on which mortgage is best for you can be a complicated decision. Our agents are skilled and ready to help make the loan process as easy as possible for you, so you’re one step closer to owning the new home of your dreams. Call our Tampa office at 813-681-6535 or contact us online and get pre-qualified. We are available to help 24/7 and our services are always free. And, when you purchase a new home through us and receive a $500 cash rebate upon closing.