Mortgages-what you need to know when buying your Kissimmee St Cloud Florida home

Mortgages-what you need to know when buying your Kissimmee St Cloud Florida home. Osceola County real estate is certainly a hot topic these days. There are so many well priced homes to choose from. Determining how much home you can afford is simple and easy. It is a a combination of what you make, verses what you spend.

While making a mortgage application, a lender will ask for some basic financial documentation. The will want to see pay-stubs, W-2’s and 2 years worth of tax returns. They will want a list of all the recurring expenses you have, like cell phone payments, car payments, current housing expenses, utilities, and charge cards. They will pull a copy of yor current credit report. Based on your fico score and credit history, a lender is looking at your risk as a borrower. If the numbers show a good history of repayment, and bills are being paid on time, that increases the probability your loan application will be approved. There are other standards they use as well, and the property you wish to purchase is also assessed and is part of the determination of whether or not a loan is approved.


There are a variety of different loan programs available. For first time Osceola County home buyers, with limited income, programs such as the Neighborhood Stabilization Program offers first time home buyers a chance to purchase homes for as a little as $1,000 down, plus closing costs. To find an application for the Osceola County Neighborhood Stabilization Program click here.

Many of these Kissimmee and St Cloud Florida homes have been rehabilitated and include great features like energy efficient appliances, new paint and flooring. The work has been done by local workman, and meet strict inspections before the homes can be put on the market to buyers. They are area specific, and applicants must meet income criteria.

Convention Home Loans

Perfect for people who are considering a home that is NOT their primary residence. This usually applies to second homes, vacation homes, or investment properties. Typically a 20% down payment is required along with pre-paids and closing costs all of which are paid by the buyer.

FHA Loans- are among the most common form of financing. The requirement is 3.5% down payment, along with closing costs and pre-paids. Most home buyers fall under this category. Your credit score plays an important role in determining your interest rate. There is also a minimum credit score to be eligible for a home loan. The score changes and ranges from 620-720 depending on the program.

Interest rates are at historic lows and can be an attractive enticement to transition from renting in Kissimmee or St Cloud Florida home, to buying a Kissimmee St Cloud Florida home. In fact 67% of all households in St Cloud Florida are owned not rented.

St.Cloud Homes & Land, LLC is a full service Licensed Real Estate Agency Providing OUTSTANDING customer service and commitment to excellence for its clients. Kissimmee Homes, St Cloud Florida Homes, Kissimmee Vacation Homes, Kissimmee Town Homes, Kissimmee Condos, St Cloud Vacation homes, St Cloud Town Homes, St Cloud fl historic homes, St Cloud Fl condos, all Osceola County Real Estate Properties.

Our Customer call us “ The best in business”, call us 407-545-8002

St.Cloud Homes & Land, LLC
Providing Professional Real Estate Services
2490 Bronco Drive
St. Cloud, FL 34771
Phone: 407-545-8002 | Email:

Making your transition to owning your next St Cloud Kissimmee Florida home a pleasant experience.