Welcome to Schaefer Mortgage in Florida!
Celebrating 21 Years in business!
Schaefer South provides current mortgage rates, home loans, refinance, loan calculators, and mortgages in Florida, including Fort Myers and Cape Coral.
The most popular FHA home loan program by far is the 203(b). This is your standard fixed rate loan for 1-4 family owner occupied houses and only requires a minimum of 3% from the borrower. This loan also permits 100% of their money needed can be a gift from a relative, non-profit organization, or government agency.
Read More
Benefits Include:
- 3% Grant Available (not only for first time buyers)
- Not restricted to 1st time home buyers
- Max loan Limits (Lee County)
- 1 Family......$356,250
- 2 Family......$456,050
- 3 Family......$551,250
- 4 Family......$685,100
- 3% down payment can be 100% gift.
The rest can be paid by the seller - Much lower interest rates than conventional alternatives
- Less expensive mortgage insurance payment than conventional PMI
- Relaxed property condition requirement
- No water test or termite test required (unless requested by appraiser)
- Not credit score driven
- Sometimes a great alternative to subprime
Apply Now
The “My Community Mortgage” program is designed especially for borrowers with low to moderate income, lower FICO scores and limited cash. We offer flexible terms and many options, including three Interest Only options: 30 year Interest Only fixed, 40 year Interest Only fixed and 5/1 LIBOR Interest Only ARM. My Community Mortgage Program allows 100% LTV and interested party contributions of up to 6% on LTV’s of 90.01% - 100%. Some highlights of the program are lower mortgage insurance requirements, no income limits for Fannie Neighbors area and no pre-purchase homebuyer education required for 1st time homebuyers of 1 unit properties.
We also offer the Community Solutions option for eligible teachers, healthcare workers, military personnel and Safety 1st employees, which allows for higher qualifying ratios and gifted reserves. Apply Now
