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Loan Basics

Welcome to "Loan Basics," your go-to resource for understanding the essentials of home financing. Whether you're navigating different types of loans, curious about the criteria for securing a mortgage, wondering how credit scores impact your borrowing options, or seeking to learn more about Florida homestead laws, you've come to the right place. We provide comprehensive insights and easy-to-understand information to empower you on your journey toward home ownership.

Loan Process

  • Initial Discussion and Application

  • Pre-Approval and Loan Scenarios

  • Search for Your New Home

  • Lender Selection and Locking in an Interest Rate

  • Process and Underwrite the Loan

  • Closing and Funding

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Types of Loans

  • Conventional

  • FHA Loan

  • VA Loan

  • Jumbo Loan

  • Non-Conforming Loan

  • Reverse Mortgage

  • Bank Statement Loan

  • Investor Cash Loan

  • Profit & Loss Statement Loan

  • Debt Service Coverage Ration (DSCR)

  • Foreign National Loan

  • Refinance

Loan Criteria

At Assure Home Funding, our home loan approval process is grounded in a thorough credit evaluation of a borrower's overall financial history and stability. Meeting the criteria for each requirement does not guarantee approval, as our assessment takes into account a comprehensive view of your financial profile.

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Credit Scores

At Assure Home Funding, we understand that good credit is a vital component of the home-buying process. A strong credit score not only enhances your likelihood of mortgage approval but also offers you the benefit of lower interest rates and a wider array of loan options. Furthermore, it can minimize the need for hefty down payments and create pathways to additional borrowing opportunities in the future.

Florida Homestead

What is a homestead in Florida? In Florida, a homestead refers to a permanent dwelling, whether it's a standalone house, condominium, or manufactured home, which the owner uses as their primary residence.

What are the benefits of homesteading in Florida? The Florida homestead exemption provides property tax relief based on the assessed value of your home, granting exemptions up to a certain value limit. With this exemption, you could decrease the taxable value of your home by as much as $50,000, provided you owned the property on January 1 of the applicable tax year.

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Important - Read Our Do's & Don'ts

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