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.

1686 Properties
Page 1 of 141
Open 6/23
1149 43Rd Street Orlando, FL 32839
$185,000
Subdivision: Holden Manor
4
Beds
2
Baths
1,356
Sq.Ft.
1990
Year Built
1
Days on Site
O5792441
MLS
This truly charming home in a very quiet Holden Manor community is offered for sale. It boasts both beauty and functionality. From the oversized backyard to its East facing deck, this home provides...
$412,000
Subdivision: Storey Lake Ph 1-3A
4
Beds
2F11/2
Baths
2,655
Sq.Ft.
2018
Year Built
1
Days on Site
S5019501
MLS
Beautiful 2 story family house, 4 bedrooms, 2.5 bathrooms. 2018 year built home with a spacious floor plan with floor tiles on Dining room, Kitchen, entrance hallway, Bathrooms. Property has an open...
$225,000
Subdivision: Willow Creek Ph 04
3
Beds
2
Baths
1,827
Sq.Ft.
1995
Year Built
1
Days on Site
O5792461
MLS
Spacious home, great place to entertain, home featuring 3 bedroom and 2 bath, 2 car garage with eating space in the kitchen, large master bedroom with walking closet, shower with separate garden...
$789,000
Subdivision: Windermere Town
4
Beds
4
Baths
3,268
Sq.Ft.
1955
Year Built
1
Days on Site
O5790336
MLS
Original one of a kind & sure to charm...from the waterfall entry, bougainvillea pergola, custom ironwork & enchanting brick paths & courtyards. This Spanish style home was established in 1955 on one...
$228,000
Subdivision: Windtree West
3
Beds
2
Baths
1,462
Sq.Ft.
1978
Year Built
1
Days on Site
O5792510
MLS
Just listed! Don't miss out on this 3 bedrooms 2 bath home located in the sought after Windtree West community in the Heart of Longwood!
The home features a great floor plan which includes a...
$503,000
Subdivision: Eola North
3
Beds
3F11/2
Baths
1,823
Sq.Ft.
2019
Year Built
1
Days on Site
T3179972
MLS
Under Construction. Life at Eola North means the perfect pairing of a superb central location along with elegant and contemporary upgrades. Located just south of Downtown at the corner of the...
3
Beds
2
Baths
2,129
Sq.Ft.
2019
Year Built
1
Days on Site
T3180243
MLS
One or more photo(s) has been virtually staged. Under Construction. Begin building cherished memories together in the open and bright Arabica. Design the family movie theater or game center of your...
$498,000
Subdivision: Eola North
3
Beds
3F11/2
Baths
1,823
Sq.Ft.
2019
Year Built
1
Days on Site
T3180338
MLS
Under Construction. Life at Eola North means the perfect pairing of a superb central location along with elegant and contemporary upgrades. Located just south of Downtown at the corner of the...
$487,000
Subdivision: Eola North
3
Beds
3F11/2
Baths
1,834
Sq.Ft.
2019
Year Built
1
Days on Site
T3180348
MLS
Under Construction. Life at Eola North means the perfect pairing of a superb central location along with elegant and contemporary upgrades. Located just south of Downtown at the corner of the...
$785,000
Subdivision: Wissahickon
4
Beds
3
Baths
2,489
Sq.Ft.
2019
Year Built
1
Days on Site
T3180420
MLS
Under Construction. A great home design and perfect location all in one! The popular Southhaven design features an open floorplan, four bedrooms, three full baths, upstairs laundry, a study and...
$159,900
Subdivision: Poinciana Village 02 Neighborhood 01
2
Beds
2
Baths
1,008
Sq.Ft.
1989
Year Built
1
Days on Site
O5791806
MLS
Come experience this gem of a home. Tile throughout all of the home NO CARPET here. Pride of ownership resonates throughout the entire house. The same owner has lived there for 24 years and the...
$120,000
Subdivision: Poinciana Golf Villas Condo
2
Beds
1F11/2
Baths
1,157
Sq.Ft.
1980
Year Built
1
Days on Site
O5792431
MLS
Great investment property . This 2 bedroom 2 story townhome in the heart of Kissimmee.
Laminate flooring with high ceilings and out side screened in lanai overlooking the pond. Property located...

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