Down payment as low as 3%
Guidance for down payment assistance
Rate discounts through the Legends Loan Program
Local, attentive service
Your path to homeownership starts here with affordable down payments and rate discounts!
Feel confident in securing your dream home! When you buy your home through our First-Time Homebuyers Program, our local experts guide you from prequalifying to closing. Make your move toward homeownership with a down payment as low as 3%. Plus, community heroes, including current or retired military members, law enforcement officers, first responders, healthcare workers, linemen, and educators, can get additional savings with a rate discount through our Legends Loan Program!
Eligibility
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A first-time homebuyer under this program is a person who has not owned a home within the past three (3) years.
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Must be a primary residence.
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As little as 3% down.
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First-Time Homebuyer certification required.
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If utilizing down payment assistance programs, the borrower must also meet their parameters.
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Borrower may need to contribute their own funds, if necessary.
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Legends Loans Program discounts are available, if eligible.
Understanding the Process
While it really doesn't matter why you need a new house, it does matter how you go about purchasing it. No one likes the hassle of buying a home the old way, including us. That's why we've streamlined and updated the entire mortgage process to bring you a faster, more technologically-advanced way to finance your home.
We offer a variety of loan options to fit your unique situation and needs. After you have selected the type of loan you want, complete an online application to get the process started. You'll provide essential information about yourself, the property, your income, assets, liabilities, and declarations.
Next, we'll take a look at your credit. In many cases, we can immediately credit-approve your loan request. This is a true loan commitment, not just a pre-qualification typically offered by other lenders. It approves you for a specific loan program and amount based on your income and debts. It is, however, legally subject to verification of the information you've provided us on your application and underwriting of the home you are financing.
We will verify the information you've provided us on your loan application. This includes requesting documentation to verify assets and income. Your new home, or existing home if you are refinancing, will be reviewed by ordering an appraisal, title report, and flood certification on the home.
A prepaid processing deposit is required for these services and will be applied toward your closing costs. We also set up escrow for the loan closing and send out applicable disclosures so you have a chance to read through them.
Final loan approval involves underwriting your new home, or existing home if you are refinancing, and the information on your loan application. Once we've reviewed this information, we will give you a final approval, and get everything ready for closing.
With final loan approval, we prepare the loan documents and send them to an escrow company for signing. Once we receive the signed documents, we'll transfer the money to the escrow company, and they will disburse the loan and record the documents.
Why Choose Floridacentral?
Floridacentral has been part of the central Florida community for decades, and we've proudly earned a reputation as a financial institution you can trust.
Experience Personalized Service
You'll work with locally-based, attentive staff with experience in the local market who will guide you through the entire process. We'll help you choose from a variety of financing options.
Save Money
Lock in a competitive interest rate and save on your closing costs as a result of our not-for-profit status.
Approval is based on the individual’s creditworthiness. Not all will qualify. Restrictions apply. Contact us for complete details.