What is a Mortgage Loan?

A mortgage is what people use to finance the purchase of their home. Unless you have the full purchase price in cash you are going to need one of this. These loans have been instrumental in bringing joy to people by making that unaffordable house affordable. It’s important to consider as any loan, this is not free money and anyone who buys or invest in a home using a loan must understand the concept very clearly.

 

The mortgage generally covers a part of your purchase price and the remaining portion has to be paid upfront by you as a down payment. The amount that you have to pay as down payment is dependent on a number of factors and you can generally reduce it to even 5% on a conventional loan. FHA and VA loans reduce the down payment requirement on mortgage even further to 3.5% or even zero money down.

 

Whatever you borrow from the mortgage lender as real estate loan plus interest needs to be paid back to the mortgage lender over a period of time. Generally, you are required to pay back the real estate loan in the form of monthly instalments which are composed of both interest and principal portions of your real mortgage. Also, there are various types of real estate loans e.g. fixed interest rate loans and adjustable interest rate loans but we usually recommend fixed rates because no matter what happens in the market your mortgage monthly payment won’t rise.

 

When you finally decide to go forward and apply for a Mortgage you are generally going to need the following documents:

 Mortgage Documents Needed

 

This are just the main documents that are usually needed. Your lender may request other documents depending on your specific circumstances and needs. Please contact us if you need recommendations on the best lenders to apply for.

896 Properties Found. Showing 1-12
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12613 Somerset Oaks Street
Orlando, FL 32828
12613 Somerset Oaks Street Orlando, FL 32828
1 of 24
$215,000
Subdivision: Waterford Villas 51 103
BEDS
3
BATHS
3
SQ.FT.
1,483
BUILT
2004
ON SITE
1Day
MLS
O5764018
This beautifully maintained townhome features NEW GRANITE in the kitchen, NEW SINK, NEW FAUCET and NEW REFRIGERATOR. You'll notice a half bath located downstairs for your guests when entertaining on...
1354 New Town Avenue
Orlando, FL 32835
1354 New Town Avenue Orlando, FL 32835
 
$349,900
Subdivision: Hamptons
BEDS
4
BATHS
3
SQ.FT.
2,346
BUILT
1998
ON SITE
1Day
MLS
O5764288
Beautiful 4 bedroom, 3 bath home with an inground POOL, two car garage and extra large corner lot. Chef's kitchen with Samsung appliances featuring french door refrigerator and convection oven. Other...
1044 Lake Biscayne Way
Orlando, FL 32824
1044 Lake Biscayne Way Orlando, FL 32824
1 of 24
$258,900
Subdivision: Hidden Lakes Ph 02
BEDS
3
BATHS
3
SQ.FT.
2,416
BUILT
1998
ON SITE
2Days
MLS
O5764058
Located in desirable HIDDEN LAKES a 24hrs gated community. Spacious layout offers vaulted ceilings formal living/dining combo, eat-in kitchen and family room. Master bedroom is located downstairs...
8867 Hastings Beach Boulevard
Orlando, FL 32829
8867 Hastings Beach Boulevard Orlando, FL 32829
1 of 27
$265,000
Subdivision: Vista Lakes Vlgs N-8 And N-9 (Newport)
BEDS
4
BATHS
2
SQ.FT.
1,834
BUILT
2004
ON SITE
2Days
MLS
O5763988
Welcome Home! As you pull into your extended driveway, you will immediately notice the curb appeal of this light and bright home! As you enter your peaceful sanctuary with fresh spa-like interior...
3114 Bellingham Drive
Orlando, FL 32825
Open House
3114 Bellingham Drive Orlando, FL 32825
1 of 32
$270,000
Subdivision: Andover Lakes
BEDS
4
BATHS
2
SQ.FT.
1,852
BUILT
1997
ON SITE
2Days
MLS
O5763102
Welcome Home! Andover Lakes in East Orlando, Fabulous 4 Bedroom 2 Bath, home features with Stainless Steel appliances, Tile floors throughout main living areas, The master bedroom has it's own...
1226 Cherry Valley Way
Orlando, FL 32828
Open House
1226 Cherry Valley Way Orlando, FL 32828
1 of 27
$267,000
Subdivision: Bridge Water
BEDS
3
BATHS
2
SQ.FT.
1,748
BUILT
1998
ON SITE
2Days
MLS
O5763259
Don't miss this well-kept BEAUTIFUL 3/2 home in the quaint community of Bridge Water. From the moment you drive up to this home, you will see the owners have put tremendous care into maintaining this...
4436 Loring Place
Orlando, FL 32812
4436 Loring Place Orlando, FL 32812
1 of 26
$285,000
Subdivision: Dover Shores Tenth Add
BEDS
3
BATHS
2
SQ.FT.
1,632
BUILT
1961
ON SITE
2Days
MLS
O5763944
Meticulously maintained home with Florida-Friendly Landscaping. Formal living room, dining room and family room. Updated kitchen with all appliances included. Inside laundry plus bonus room for...
13046 Lessing Avenue
Orlando, FL 32827
13046 Lessing Avenue Orlando, FL 32827
1 of 39
$724,900
Subdivision: Laureate Park Ph 3B
BEDS
4
BATHS
4
SQ.FT.
4,310
BUILT
2015
ON SITE
2Days
MLS
O5763117
This immaculate and well maintained home in the highly sought after Laureate Park Community in Lake Nona. This Taylor Morrison Russel model is a two- story home which offers four bedrooms, three and...
10937 Laxton Street
Orlando, FL 32824
10937 Laxton Street Orlando, FL 32824
1 of 18
$284,000
Subdivision: Wetherbee Lakes Sub
BEDS
4
BATHS
3
SQ.FT.
2,254
BUILT
2003
ON SITE
2Days
MLS
O5761251
**THE ONLY ONE OF ITS KIND IN NEIGHBORHOOD**AND PRICED TO SELL** Spacious 4 bedroom 2.5 bath 2 story home in the desirable Wetherbee Lakes Subdivision in south east Orlando with **LOW HOA FEES &...
5455 Vineland Road #3105
Orlando, FL 32811
5455 Vineland Road #3105 Orlando, FL 32811
1 of 40
$150,000
Subdivision: Cypress Fairway
BEDS
2
BATHS
2
SQ.FT.
1,142
BUILT
2000
ON SITE
2Days
MLS
O5762232
FIRST FLOOR END UNIT in the Cypress Fairway Gated Community. TWO Master bedrooms / 2 bath condo. Living room with solarium provides spacious living area. Newer 2.5 ton AC unit. Newer hot water. Newer...
10046 Eagle Creek Center Boulevard
Orlando, FL 32832
10046 Eagle Creek Center Boulevard Orlando, FL 32832
1 of 4
$259,950
Subdivision: Eagle Crk Village L Ph 1
BEDS
2
BATHS
3
SQ.FT.
1,635
BUILT
2014
ON SITE
2Days
MLS
O5763298
WELCOME TO PARADISE! This BARELY LIVED IN 2 bedroom 2 and half bathroom (end unit) townhome located in one on Central Florida's highly sought after community of EAGLE CREEK. This LIKE NEW townhome...
14232 Sahalee Lane
Orlando, FL 32828
14232 Sahalee Lane Orlando, FL 32828
1 of 28
$275,000
Subdivision: Sherwood Ph 02
BEDS
4
BATHS
2
SQ.FT.
1,972
BUILT
1997
ON SITE
2Days
MLS
S5013714
Lovely spacious four bedroom, two bathroom home on over sized lot ready for move in. A large family room greets you on arrival which is in addition to the living room so plenty of room for...

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