Purchase a Home in Florida with as Little as 5% Down

TAMPA, Fla. - Nov. 13, 2013 - PRLog -- Did you know you can purchase a home in Florida with as little as 5% down on Conventional Financing and have NO PMI.

If you are seeking a home purchase in the State of Florida and your only option appears to be FHA due to this loan type requiring only 3.5% down then you need to read this article.

Private Mortgage Insurance Companies and Lenders are Starting to open the Doors for buyers with less than 20% Down to purchase a home. You can now purchase a primary residence home with as little as 5% down and have NO Private Mortgage Insurance

Buyers Must Meet the Following Guidelines to Qualify:

1. 640 or Higher Fico Score

2. Debt to Income Ratios of 45% or Less

3. No Bankruptcy, Short Sale or Foreclosure in Last 7 Years

Bay to Bay Lending also offers Borrower Paid PMI with Better Rates.

Below are Some of the Benefits for Purchasing a Home with Conventional Financing with PMI vs. FHA Financing

1. PMI is Removed from Monthly Payment when LTV is at or Below 78.00% where Mortgage Insurance on FHA is for Life of the Loan as of June 1st

2. Lower Monthly Payment Since PMI is Much Lower than FHA's Mortgage Insurance Premium of 135 BPS per Month

3. You May Qualify for a Higher Priced Home with the Lower Monthly PMI with ratios up to 45%

You Can Also Purchase a 2nd Home with Only 10% Down and Choose between Lender Paid or Borrower Paid PMI up to 45% DTI

Please click on my personal website for more information on Conventional Financing at http://www.mortgagestampa.org or contact me @ 813-489-5689 for more information or to start your home purchase process.

Jason R Hands
Bay to Bay Lending, LLC
501 S Dakota Avenue, Suite 2
Tampa, FL 33606
813-489-5689 - Direct
813-385-1109 - Mobile
866-216-6322 - Fax
www.mortgagestampa.org

NMLS Originator ID: 214834 FL # LO562