Purchase Programs

Primary Residence

Conventional
Rotella Mortgage’s most popular home purchase program is a Fannie Mae, 80/10/10 loan. This loan is broken up into an 80% 1st mortgage, coupled with a 10% second mortgage. This allows the consumer to purchase a new home with a minimal 10% down payment and still qualify for great low rates. It also eliminates the need for the costly private mortgage insurance premium. Of course, many other options are available for home loans. To find out what program best suites your needs, contact one of our friendly loan officers. Please click here.

Veterans Administration
For those who qualify, a Veterans Administration (VA) loan is one of the best programs available. This loan allows former and current veterans to finance 100% of their home purchase. The rates are great and with little or no money out of your pocket, this allows the borrower greater flexibility. If you are getting any disability check from the VA, your funding fee is waived! To find out more about the benefits of a VA loan, click here.

FHA
Since the sub-prime loan disaster, FHA loans have become more popular than ever. Most FHA loans require a minimum of 3.5% down payment but if you purchase a HUD foreclosed home, you can get in for as little as $100! Call us for a list of HUD homes in your area. Another reason that FHA loans are so popular is that many lenders either have no minimum score requirement or allow borrowers down to a 620 score to still qualify. Do you qualify for a FHA loan? Click here to contact one of our mortgage professionals.- Please click here.

Sub Prime
The days of consumers with rough credit qualifying for 100% financing without documenting their income is gone, probably for good. However, Rotella Mortgage does still have some lenders that look “outside the box” and if the loan makes sense, can still help get you into your dream home. Since all of our pre qualifications are free of charge, what have you got to lose? Get started by clicking here to get more information.- Please click here.

Investment Property

Bad News
With the recent “mortgage crises”, all lenders have tightened their lending parameters on investment property.  Gone are the days of 100% financing, and Fannie Mae has reduced the number of total loans any borrower can have down to four.- Please click here.

Good News
Savy investors are picking up fantastic deals on rental property.  Whether it is a REO (bank owned property), current foreclosure listing, or simply a home for sale, investors are taking advantage of the great deals in today’s market.  Buyer’s can expect to put down a minimum of 20% toward their investment property purchase, but Rotella Mortgage has innovative ways to reduce this amount. - Please click here.