Buying your dream home can now be easy and hassle free. Top Class Mortgage Inc offers a variety of home loan programs and loan options for first time home buyer to suit their requirements. Be it the first-time home buyer, or someone looking to purchase an investment property, we have them covered for all home loan requirements. With our expert advisory and counselling services, our clients will become knowledgeable on the financial process while obtaining a home loan. We will assist you through every step of the loan process and ensure you find your dream home that fits well within your financial purview.
First time home buyers
Buying your first home is exciting and scary!! With TC Mortgage by your side, we will ensure that the entire experience is exciting and rewarding. Leveraging on our expertise and knowledge, our team can help you find the right home loan that fits your budget with the best interest rates in town. Because we offer our clients a wide spectrum of home loan programs, the first-time home buyer will not be limited to a few options.
Who falls under the category of first-time home buyer? Who is Considered a first-time buyer?
- First time home buyer must not have owned a primary residence at any time during the past 3 years.
- The person who jointly owned a home with their spouse but now is a single.
- According to the applicable regulations, the individual must not have owned a primary residence that was connected to a permanent foundation.
Eligibility criteria for applicants
- The high borrower income limit individuals are allowed to apply for the program.
- First time home buyers program can be used throughout the State of Florida.
- Funds will be utilized to pay for the first mortgage and therefore, no cash back is given at closing.
- The prospective home must be 1-unit, single family residence, townhouse and condos with a maximum of 95% loan to value (LTV).
- Only the income of the applicant will be considered with no household income limitation.
- The seller would only contribute 3% towards the closing costs of the buyer.
- The properties can only be purchased with no construction to permanent loans and not for investment purposes.
- The owner can only be the property’s occupant and it cannot be used by another person or entity.
- The purchase price limit set for a property is determined by the county’s median income limits.
- Lender Credit is not available.
- home buyer education class must be completed prior to the closing,.