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Mortgage Broker Fort Lauderdale FL | Florida State Mortgage Group, Inc.

Florida State Mortgage Group, Inc. are mortgage brokers in Fort Lauderdale, offering a comprehensive selection of loan options. Call us at (954) 359-3000.

  • About
    • About
    • Living in Fort Lauderdale
  • Loan Options
    • Loan Options
    • VA
    • FHA
    • Conventional
    • Jumbo
    • First Time Home Buyer
    • Self Employed
    • Condominium Mortgages
    • Mortgage Credit Certificate
  • Purchase
  • Refinance
  • Resources
    • Resources
    • Calculator
    • Document Upload
    • Home Purchase Qualifier
    • Refinance Rate Checker
    • Search Home For Sale
    • Home Value Estimator
    • What is Your Credit Score?
  • Blog
  • Contact
  • Apply Now

Call us for a FREE Consultation

(954) 359-3000

  • About
    • About
    • Living in Fort Lauderdale
  • Loan Options
    • Loan Options
    • VA
    • FHA
    • Conventional
    • Jumbo
    • First Time Home Buyer
    • Self Employed
    • Condominium Mortgages
    • Mortgage Credit Certificate
  • Purchase
  • Refinance
  • Resources
    • Resources
    • Calculator
    • Document Upload
    • Home Purchase Qualifier
    • Refinance Rate Checker
    • Search Home For Sale
    • Home Value Estimator
    • What is Your Credit Score?
  • Blog
  • Contact
  • Apply Now

Top Rated Mortgage Lender Shares About Choosing A Mortgage Loan

March 24, 2022 by Stephen McWillam

The purchase of a home is quite possibly the most significant investment you’ll make in your lifetime, not to mention the enormous responsibility that comes with it.  So, to be successful in your quest for homeownership, you have to choose a mortgage loan that’s right for you and accommodates your financial needs.  For a first-time homebuyer, always consider the broad range of mortgage loans available today. Here’s a 5-step guide that could prove helpful in your quest.

 5-Step Guide in Choosing a Mortgage Loan

Step #1:  Calculate how much you need to borrow

Before applying for a mortgage loan, look at your budget and how much you need to borrow.  Once you’ve determined this, look at your credit score and see if it’s sufficient for getting approved for the amount you need.

Step #2:  Be prepared to pay additional fees

Several costs are involved when buying a home, such as closing costs, your down payment, and more.  Before you sign a contract, make sure you know the additional costs involved and plan your home buying budget accordingly.  Remember that paying a larger down payment means you will pay less interest over the loan term.

Step #3:  Decide on the term of the loan

A mortgage loan involves a long-term commitment, but some loans are available with shorter terms, such as 15 or 20 years.  However, the faster the time of the loan, the higher your monthly payments will be.

Step #4:  Choose the Best Mortgage Loan for your specific needs

This is probably the most crucial step in the process.  The most common types of home mortgage loans include:

  • FHA loans
  • Jumbo loans
  • USDA loans
  • VA loans

Before you make any decisions regarding your choice of a mortgage loan, we recommend that you do extensive research on mortgage loans.

Step #5:  Determine which Interest Rate is Best for You

This is a crucial factor when you consider how it can significantly impact the size of your monthly mortgage payments.  You have two choices where this is concerned:

  • ARM’s or adjustable-rate mortgages have interest rates that adjust annually and fluctuate with the bond market.
  • Fixed-rate mortgages enable you to lock in on a set rate over the life of the loan.

 

Buying a Home in Fort Lauderdale with Florida State Mortgage Group, Inc.

To learn more about choosing the right mortgage for your needs, call Florida State Mortgage Group, Inc. today at (954) 359-3000. Their team will be glad to assist with your specific requirements!

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Fort Lauderdale's Top-Rated Mortgage Company

Florida State Mortgage Group, Inc. is located on 1512 E Broward Blvd #204A, Fort Lauderdale. From Fort Lauderdale-Hollywood International Airport (FLL) head northwest toward Terminal Dr/Upper Terminal Dr and use the right 2 lanes to turn slightly right onto Terminal Dr/Upper Terminal Dr. Then use the left lane to keep right at the fork and follow signs for Departures and use the left lane to continue toward US-1 N. Next, keep left at the fork, follow signs for US-1 N/Ft Lauderdale and merge onto US-1 N. After that merge onto US-1 N and keep left to stay on US-1 N. Finally, turn right onto E Broward Blvd and Florida State Mortgage Group, Inc. will be on your right.

We are open Monday - Friday 9am - 6pm, Saturday - Sunday 10am - 4pm.

For additional questions you can call us at (954) 359-3000 or you can find us on Yelp and Birdeye.

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Loan Options

  • VA
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Contact

Florida State Mortgage Group, Inc.
1512 E Broward Blvd #204A
Fort Lauderdale, FL 33301
Phone: (954) 359-3000
Fax: 954-449-0283
NMLS# 393326
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Florida State Mortgage Group, Inc, Mortgage Broker, Fort Lauderdale, FL
Equal Housing Lender

Florida State Mortgage Group, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

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