Florida Member's Mortgage, Inc.
Committed To Excellence In Member Service Since 1997

  Home    Loan Center    Products    About Us    FAQ    Resources  

Florida Member's Mortgage offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide you with the finest loan products available for any type of mortgage request.

As a credit union member, you can be assured that we go to great measures to ensure that all of our mortgage products are competitive. We want to make sure that you are getting a great deal on your mortgage request.

Because we work with several national lenders, we are able to shop for the lowest rates and closing costs that will assure you the best deal. So it makes sense to make Florida Member's Mortgage your first stop towards obtaining a home loan approval.

Florida Member's Mortgage as a full-service mortgage brokerage business has a large number of loan products to choose from. Call our offices to get a more detailed description of our loan products, but in summary, here are a few of our more popular products available.

Fixed Rate Mortgages
First Mortgages with terms of 10, 15, 20, 25, 30, 35 or even 40 years are extremely popular today. We make it very easy to get pre-approved for any one of these fixed rate loans. If you are purchasing or refinancing, a fixed rate mortgage offers you long-term payment protection since your principal and interest payment will never change. And since rates are still at or near historic all-time lows, a fixed rate product may be your best choice for home financing.

1 Year Adjustable Rate Mortgage
This loan has a very low initial interest rate followed by annual rate adjustments that are typically tied to an "index" and "margin". We offer several types of 1 year adjustables that use a variety of indexes to calculate rate changes. Many of these products offer interest rate "caps" that protect borrowers from excessive rate changes both on an annual, and lifetime basis.

3/1 Adjustable Rate Mortgage
This product works in the same fashion as a traditional 1-year ARM, however, it offers a borrower the added feature of having a fixed rate for the first 3 years of the mortgage. The initial interest rate for this product is considerably lower than that of a 30 year fixed rate mortgage. After the initial 3 years is over, the loan then changes to a 1 year ARM.

5/1 or 7/1 Adjustable Rate Mortgage
These loans work in exactly the same manner as a 3/1 ARM except that the initial fixed rate period is extended to either 5 or 7 years. This type of loan is also called a "delayed ARM" since the initial rate change is delayed for either 5 or 7 years. These ARM products are very popular right now since they both offer initial interest rates that are considerably lower than a fixed rate mortgage of the same term.

3% Downpayment Options
We offer a number of conventional loans with downpayment options as low as 3%. These loans are perfect for a first-time home buyer since they reduce the amount of funds needed to close on a loan. Call our offices for more details on these loan products.

100% Financing / Zero Downpayment
This loan allows those with acceptable credit to finance the entire purchase price of a home. Not having to put a downpayment on a property makes it much more affordable to purchase a new home since the amount of cash required to close a loan is dramatically reduced. Furthermore, with interest rates still at all-time record lows, your monthly payment will still be very affordable.

Credit Rebuilder Loans
If you have less than perfect credit, we can still help you! We offer a number of loan products for both purchases and refinances that will allow you to realize your dream of homeownership, consolidate debt, make home improvements, or any number of other goals.

No income / Stated Income
If you are self-employed, chances are that you claim as little income as possible on your tax returns each year. While this makes perfect sense from a tax standpoint, it can sometimes hurt your chances of obtaining a loan approval with many types of conventional loan products. We have a number of great loan products that do not require income verification to obtain a loan approval. You tell us what your income is, and we can take it from there. It is really that simple.


Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $322,700 with closing costs of $6,454. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.