E Loans Mortgage Inc

352-688-7949 or 727-946-0904

Government loan programs

We are your number one source for Government loans in Hernando County. With years of Mortgage Banking experience you can rest assured that we have the best rates and terms on any Government loan available. If you are looking for an FHA Loan in Spring Hill Florida or a VA Loan In Spring Hill Florida we can give you the best possible terms to make your transaction go as smooth as possible. We have served as a Hernando County Mortgage Lender for over 12 years and have an extensive knowledge of the Local Hernando County Real Estate market. We offer Big Bank Rates and Products with small Town Local Service and knowledge of the local area. Call us today at 352-688-7949 or apply online at www.e-loanmortgage.com.

 
FHA loans

 An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans. Our branch Serves all of Florida, we are your best choice of FHA Lender in Spring Hill. Let us help you with your Hernando County Real Estate purchase. Please call us at 352-688-7949 for information on FHA Loans in Hernando County.

 FHA loan programs are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.

 Some of the other benefits of FHA financing:

• Only a 3 percent down payment is required.
• Closing costs can be financed.
• Lower monthly mortgage insurance premiums and, under certain conditions, automatic cancellation of the premium.
• More flexible underwriting criteria than conventional loans
• FHA limits the amount lenders can charge for some closing cost fees (e.g. the origination fee can be no more than 1% of mortgage).
• Loans are assumable to qualified buyers.

VA Loans

 VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans. Our Branch serves all of Florida for VA loans, but most importantly we would like to be your Spring Hill VA Lender. Please call us at 352-688-7949 for more information on VA Loans in Hernando County.

 Other benefits of a VA loan include:

• Negotiable interest rates.
• Closing costs are comparable and sometimes lower - than other financing types.
• No private mortgage insurance requirement.
• Right to prepay loan without penalties
• The Mortgage can be taken over (or assumed) by the buyer when a home is sold.
• Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.

Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.

A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.

Veterans can apply for a VA loan with Allied Home Mortgage Capital in Spring Hill Florida.          A Certificate of Eligibility from the VA must be presented to the lender to qualify for the loan.

USDA Loans

USDA loans are designed to help creditworthy lower and moderate income individuals and families to buy a home in a rural designated area. These loans are beneficial to those borrowers that wish to by a home with no money down. Many people think of rural home being farms way out in the country. But a lot of people are surprised when they find that a property within close driving distance is actually considered rural according to the USDA. All of Hernando County is USDA eligable, as well as all of Citrus County, parts of Pasco and Hillsborough County are also USDA eligable. We want to be your USDA lender in Spring Hill. Please call us at 352-688-7949 for information on USDA loans in Hernando County and the surrounding areas.

Some of the advantages of the USDA Rural loans are

• No down payment
• Bona fide gifts allowed
• Seller contributions allowed
• Closing costs that lenders can charge are restricted (e.g. Loan Origination Fee cannot exceed 1%)
• Some closing costs (including the USDA Fee) may be financed (less out of pocket expenses)
• No monthly mortgage insurance (MIP)
• Non-purchasing spouse allowed
• Borrower allowed to borrow closing costs on an unsecured basis

To find out whether you qualify from an Income standpoint or the Property qualifies as rural you can go to the USDA Income Eligibility or the USDA Property Eligibility website.