First Mortgage Bond Loans & Down Payment Assistance Programs in Cape Coral, FL

PRESS RELEASE
Published October 26, 2023

Homeownership Dreams in Cape Coral, FL: Mortgage & Assistance

Cape Coral, United States - October 26, 2023 / Island Coast Mortgage /

Unlocking the Power of First Mortgage Bond Loans and Down Payment Assistance Programs in Cape Coral, FL

Cape Coral, Florida is a city known for its breathtaking beauty and vibrant community. For those looking to make this slice of paradise their home, securing a mortgage that fits their needs is an essential step in the journey. Island Coast Mortgage, the premier mortgage broker in Cape Coral, is proud to present an in-depth exploration of the exciting mortgage options available for homebuyers in the area.

Island Coast Mortgage specializes in helping individuals and families achieve their homeownership dreams in Cape Coral, FL. In this press release, we will provide a comprehensive overview of two significant mortgage programs: the Bond Alternative and the Bond Program. We will also highlight the down payment assistance options, including the Florida Assist and the Florida Second Mortgage, that can complement these first mortgage bond loans.

Cape Coral mortgage broker

First Mortgage Bond Loans: The Bond Alternative and The Bond Program

When seeking a first mortgage bond loan in Cape Coral, Florida, two primary options stand out: the Bond Alternative and the Bond Program. Each program offers distinct features tailored to meet the diverse needs of homebuyers:

  1. Bond Alternative:

    • Ideal for those looking for conventional loans.
    • Features a competitive 30-year fixed rate.
    • Available to first-time homebuyers, veterans, or residents of federally designated targeted areas.
    • Adheres to specific income and purchase price limits.
    • Requires a minimum credit score of 640 (660 for manufactured housing).
    • Allows a maximum debt-to-income (DTI) ratio of 50% with AUS approval.
    • Suitable for various property types, including single-family homes, multi-unit properties, and condos.
    • Requires owner occupancy and prohibits non-occupying co-borrowers.
  2. Bond Program:

    • Designed for FNMA, FHA, and USDA loans.
    • Offers a 30-year fixed rate.
    • Follows similar eligibility criteria as the Bond Alternative.
    • Requires a minimum credit score of 640 (660 for manufactured housing).
    • Permits a maximum DTI of 50% with AUS approval.
    • Available for various property types, including single-family homes, multi-unit properties, and condos.
    • Requires owner occupancy and excludes non-occupying co-borrowers.

Down Payment Assistance Programs:

In addition to the First Mortgage Bond Loans, potential homebuyers in Cape Coral, FL, have access to various down payment assistance programs:

  1. Florida Assist:

    • Offers a generous $10,000 in down payment assistance.
    • Compatible with both the Bond Alternative and Bond Program.
    • Structured as a silent second mortgage, meaning no regular payments are required.
    • An ideal option for those seeking financial support without immediate repayment obligations.
  2. Florida Second Mortgage:

    • Compatible with both the Bond Alternative and Bond Program.
    • Requires regular payments.
    • Provides additional financial support for those who can manage monthly obligations.
  3. Florida Plus Second Mortgage:

    • Exclusively designed for conventional loans.
    • Provides additional financial assistance to those opting for the Bond Alternative.
    • Offers increased flexibility for conventional loan borrowers.

Unlocking Your Dream Home in Florida

Cape Coral, FL, is not just a destination; it's a place where dreams of homeownership can come true. Island Coast Mortgage is committed to making those dreams a reality. Our expert team possesses the local knowledge and experience to guide you through the process and help you access the perfect mortgage and assistance programs.

Don't let the opportunity to own a piece of Cape Coral pass you by. Contact Island Coast Mortgage today to learn more about how we can help you access these remarkable mortgage and assistance programs. With our expertise and personalized guidance, your dream home in Cape Coral, FL, is within reach.

For further information or to explore your homeownership options, please contact Island Coast Mortgage at (239) 214-7011.

Unlock the door to your Cape Coral dream home with Island Coast Mortgage.

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Contact Information:

Island Coast Mortgage

3013 Del Prado Blvd #2
Cape Coral, FL 33904
United States

JB Broughton
(239) 214-7011
https://www.islandcoastmtg.com/

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