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.

1499 Properties Found. Showing 1-12
Sort By:
1042 Pine Street
Apopka, FL 32703
1042 Pine Street Apopka, FL 32703
1 of 25
$227,900
Subdivision: Cobblefield
BEDS
3
BATHS
2
SQ.FT.
1,788
BUILT
1997
ON SITE
1Day
MLS
O5777797
Don't miss your chance to own this beautiful 3-bedroom, 2-bathroom home situated on a dead-end street in Cobblefield! Greeted by a screened-in front entrance, this home also features a separate...
8712 Danforth Drive
Windermere, FL 34786
8712 Danforth Drive Windermere, FL 34786
1 of 26
$242,900
Subdivision: Lakes/Windermere-Lk Reams Twnh
BEDS
2
BATHS
3
SQ.FT.
1,360
BUILT
2005
ON SITE
1Day
MLS
S5016666
Beautiful 2 bedroom/2.5 bath townhome close to attractions and shopping.This highly desirable 2 story home features a fenced in courtyard that leads to a two car garage. The home also boosts a cozy...
4239 Caplock Street
Clermont, FL 34711
4239 Caplock Street Clermont, FL 34711
1 of 34
$459,000
Subdivision: Hunters Run Ph 2
BEDS
4
BATHS
4
SQ.FT.
3,328
BUILT
2015
ON SITE
1Day
MLS
G5014763
Welcome to this model like home that has been meticulously maintained featuring DUAL MASTERS and the high end upgrades you desire. Tropical landscaping lines the front yard, with pavered driveway...
3051 Stanfield Avenue
Orlando, FL 32814
Open House
3051 Stanfield Avenue Orlando, FL 32814
1 of 35
$629,900
Subdivision: Baldwin Park
BEDS
4
BATHS
4
SQ.FT.
2,794
BUILT
2010
ON SITE
1Day
MLS
O5777881
Professional Photos coming soon. Beautiful Baldwin Park 4 bed/3.5 bath Classical David Weekley Wilcox Home with double full-size front porches. Open Great Room and Kitchen are surrounded by bright...
1242 Ravida Woods Drive
Apopka, FL 32703
1242 Ravida Woods Drive Apopka, FL 32703
1 of 21
$239,000
Subdivision: Piedmont Lakes Ph 01
BEDS
3
BATHS
2
SQ.FT.
1,500
BUILT
1989
ON SITE
1Day
MLS
O5770702
Great 3 bedroom, 2 bath home in Piedmont Lakes. Amazing renovated kitchen with Quartz countertops, tile backsplash, beautiful appliances. Updated floor tile in main living area. **NEW**Master...
4655 Indian Deer Road
Windermere, FL 34786
Open House
4655 Indian Deer Road Windermere, FL 34786
1 of 25
$374,000
Subdivision: Summerport Ph 05
BEDS
3
BATHS
2
SQ.FT.
2,083
BUILT
2006
ON SITE
1Day
MLS
O5777145
SPA LIKE OWNERS BATHROOM WITH OVER $20,000 IN UPGRADES IN 2018! SHUTTERS THROUGHOUT THE HOME!! NEW A/C UNIT 2018! TRANSFERABLE TERMITE BOND! Make this home your next home in the comforts of...
3291 Westchester Square Boulevard #104
Orlando, FL 32835
3291 Westchester Square Boulevard #104 Orlando, FL 32835
1 of 47
$135,000
Subdivision: Hamptons
BEDS
2
BATHS
2
SQ.FT.
1,235
BUILT
2000
ON SITE
1Day
MLS
O5775853
One or more photo(s) has been virtually staged. Hurry to check out this gorgeous condo in the highly-desirable Hamptons at Metrowest community. This 2-bedroom, 2-bathroom home is guarded 24/7 and...
8532 Bay Springs Drive
Orlando, FL 32819
8532 Bay Springs Drive Orlando, FL 32819
1 of 34
$349,900
Subdivision: Villas At Bay Hill
BEDS
3
BATHS
2
SQ.FT.
1,728
BUILT
1999
ON SITE
1Day
MLS
O5776057
The Villas at Bay Hill is a hidden gem in the heart of Bay Hill/Dr. Phillips...Located close to downtown Orlando, Restaurant Row, YMCA, theme parks, airport, shopping and top-rated schools. This...
2720 Pershing Avenue
Orlando, FL 32806
2720 Pershing Avenue Orlando, FL 32806
1 of 29
$474,900
Subdivision: Waterfront Estates
BEDS
3
BATHS
2
SQ.FT.
1,744
BUILT
1959
ON SITE
2Days
MLS
O5778022
Welcome to the Conway Chain of Lakes! Completely renovated canal-front home with direct views of beautiful Lake Conway! It's almost tough to find something in this house that ISN'T brand new. The...
3928 Rose Petal Lane
Orlando, FL 32808
Open House
3928 Rose Petal Lane Orlando, FL 32808
1 of 36
$269,900
Subdivision: Rosemont Sec 05
BEDS
4
BATHS
2
SQ.FT.
1,933
BUILT
1978
ON SITE
2Days
MLS
O5777414
Welcome to this lovely 4 bed 2 bath pool home boasting over 1900 square feet of living space situated in the heart of Orlando convenient to College Park shopping and dining. Spacious lush...
2617 Meadow Oaks Loop
Clermont, FL 34714
2617 Meadow Oaks Loop Clermont, FL 34714
1 of 38
$230,000
Subdivision: Weston Hills Ph I
BEDS
3
BATHS
2
SQ.FT.
1,919
BUILT
1999
ON SITE
2Days
MLS
O5777888
Weston Hills 3 Bedroom 2 Bath 2 Car Garage over 1900sf ready for new owners! 20 Inch Tile Throughout this home with bonus living area, Vaulted Ceilings in Living, Dining, Kitchen, Bonus Room, and...
3701 Finch Street
Orlando, FL 32803
Open House
3701 Finch Street Orlando, FL 32803
1 of 20
$330,000
Subdivision: Audubon Park Tanager Sec
BEDS
3
BATHS
2
SQ.FT.
1,248
BUILT
1954
ON SITE
2Days
MLS
O5777903
Charming, Move-In Ready Gem in the Hip, Award-Winning Audubon Park Garden District! This Mid-Century home has been renovated for function and style. Open concept with lots of natural light and...

Post a Comment