Your Trusted Florida Mortgage Broker,
Providing Home Loans for Our Communities
West Palm Beach | Tampa | Miami | Pensacola
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Education
Our company mantra is to provide our local communities with the information and resources they need to make a truly educated choice about their mortgage options. We are committed to working with our clients for however long it takes to get them into their ideal loan program and dream home.
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Personalization
There is no single straight and narrow path to homeownership. Our mortgage brokers are not only educated enough to be confident about sharing their knowledge with you, but they can canvas a wide variety of lenders to get you the best loan options for your personal situation, unlike banks and direct lenders.
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Approval
We realize every loan isn’t going to get an approval on the first shot. However, we are willing to put in the work with our clients to ensure you can work towards approval with us. We have access to programs and credit enhancements strategies, and unlike other mortgage brokers, we are willing to share that information and put in the work!
The are Numerous Benefits to Being a Homeowner in Florida
Florida is the Top Travel Destination in the World
With that in mind, it means all of our businesses that benefit from tourism have the opportunity to flourish from tourism. That could be everything from local pilots, charter captains, bartenders and retail. It also means we have more golf courses than any other state in the USA to go with our impressive 1,350 miles of coastline. Our fun-loving state attracted an average of 1,000 new residents per day and in 2019, it is also estimated that Florida had 131.42 million tourists visit. So if you are one of the millions working in tourism in Florida we can help you navigate how to prove your income to get into a home. We realize that some who work in tourism or are self-employed here, can get overwhelmed when asking to prove your income. Let us help simplify it!
Florida Residents Have School Choice Options
Regardless of if you are in the Florida Keys, Naples, West Palm Beach, Tampa or Pensacola, House Bill 7045 allows parents to choose the school for your child’s education. It’s one of the many advantages of living here. This allows parents and families to not be held into a school district based on where they buy or rent a home. This provides students and families the freedom to make more choices about the education system they are in.
Here at Peoples Choice Mortgage, we also provide home buyer programs for our educators. Reach out today to get started and see if you qualify.
Second Homes and Vacation Rentals Generate Revenue
If endless beaches and school choice options don’t have you clamoring to move to Florida, real estate options might!
Second homes can show promising returns when rented out as short term rentals. Florida’s lax short-term rental laws make it a very appealing state to start an Airbnb adventure. A great deal of Florida vacation rentals see an average of a 40%-60% occupancy rate. As a result, real estate investors can conclude that Airbnb occupancy rates in Florida are generally high, which has made our state one of the top locations to invest in Airbnb in 2020.
If you are interested in learning about our second home programs, please reach out today and see if you qualify.
We work with Florida First-Time Home Buyers
Find Your Dream Home
Search up-to-date home listings and get connected with a top-rated real estate agent. Our brokers can connect you with an educated realtor in the local communities of Florida, such as West Palm Beach, Pensacola, Tampa and Beyond.
Florida Homeownership FAQ
Florida Housing provides resources and supports for homeowners, from first-time home buyers to the most seasoned, with a variety of resources.
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Of course! There are educational programs available from the state and various localities in Florida. Additionally, Peoples Choice Mortgage loan officers pride themselves on educating consumers every step of the way. We want you to feel financially confident in your home purchase.
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There’s no one answer for this. Generally, if your goal is to lock in current interest rates, a fixed rate loan can be highly favorable. Variable rate loans are less predictable, but they typically mean that you’ll have lower payments in the short-term future, which increases your home affordability. It all depends on your financial situation and current mortgage rates. Florida mortgage experts from Peoples Choice Mortgage can help you find the program that is perfect for you and your needs.
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It pays to strike while the iron’s hot! Home prices are increasing, but interest rates are still low. One of the most important things about a home purchase or refinance is to lock in favorable interest rates. Mortgage rates have fallen since 2018 through the first half of 2019 and again in 2020. Mortgage rates are still hovering near historic lows, which suggests now is as good a time as any. Low rates and lower payments help you build home equity.
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It’s still a 3.5% down program, because it is an FHA program. Essentially it’s a government grant that you do not have to pay back. The bigger caveat with this is, if you opt into this program your home interest rate with be higher. These programs may be beneficial to someone who can afford approximately a 25% higher monthly payment. Typically, most of the clients who are in this program will refinance within a year or two to get their payments lower after that term. Closing time on these loans can also be slightly longer just because the government grant has to be processed to get a clear to close. There are also down-payment assistance programs offered through the state government and various local governments.
Resources For First-Time Home Buyers
Refinance Programs in Florida
Let Your Equity Work For You
Refinancing can be good for:
- Lowering monthly payments
- Paying down debt
- Renovating your home
Florida Refinancing FAQ
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Numerous! You can save money, lower your monthly payments, and potentially even lower or eliminate the cost of monthly mortgage insurance. You can also shorten the term of the loan if you want to take advantage of a higher income to make a long-term investment in the ownership of your home.
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There’s no one answer for this. Generally, if your goal is to lock in current interest rates, a fixed rate loan can be highly favorable. Variable rate loans are less predictable, but they typically mean that you’ll have lower payments in the short-term future, which increases your home affordability. It all depends on your financial situation and current mortgage rates. Florida mortgage experts from Peoples Choice Mortgage can help you find the program that is perfect for you and your needs.
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You won’t change the amount of principal owed on the loan. However, by reducing your mortgage rate you will reduce the amount you pay in interest over the life of your home loan. You might also decrease your monthly payments. Also, the collateral on your home loan isn’t likely to change either. An exception to all of this is if you consider a cash-out refinancing program, which will allow you to tap into your equity by taking out a home loan on more than you currently owe.
Resources about Refinancing
