Florida Choice Mortgage
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CONVENTIONAL FINANCING

With Conventional Financing, you can purchase/refinance a primary, 2nd home or Investment home.

There are many advantages on a Conventional loan such as:

  • Scores as low as 620
  • 3% minimum down payment for first time home-buyers
  • Property taxes and property insurance escrows may be waived if financing 80% or less
  • Lender Paid Mortgage Insurance available when financing over 80% (some restrictions apply)
  • Up to 6% seller contributions towards buyer's closing costs allowed
  • Gift of funds are allowed, if needed for down payment and/or closing costs

Conventional Financing
Waiting periods AFTER a Foreclosure, Short sale or Bankruptcy

After a Foreclosure - waiting periods to purchase/refinance are as follows...

  • 7 years from the date when the foreclosure's Certificate of Title was recorded in Public Record
  • If included in a BK 7, then the waiting period is 4 years from the BK discharge date

After a Short Sale or Deed in Lieu - waiting periods to purchase/refinance are as follows...

  • 4 years from the date of short sale closing
  • 4 years from date Deed in Lieu was recorded in Public Records

After a Bankruptcy 7 - waiting periods to purchase/refinance are as follows...

  • 4 years from the BK 7 discharge date
Florida Home

Please feel free to contact us and we can discuss your current situation in further detail
and also discuss financing options available to you.