ORLANDO, Fla.--(BUSINESS WIRE)--Embrace Home Loans’ Orlando, Fla. retail branch today announced it is approved by the Florida Housing Finance Corporation and Orange County Housing Finance Authority to offer bond programs that provide second mortgage, down payment and closing cost assistance for first-time homebuyers. Embrace Home Loans is a prominent leader in the mortgage industry and a direct lender for Fannie Mae and Freddie Mac, approved by FHA and VA, and an issuer for Ginnie Mae.
The Florida Housing Finance Authority program can be used in all 67 counties in Florida and the Orange County Housing Finance Authority can be used in Orange, Osceola, Seminole and Lake counties. Established to stimulate and expand homeownership in Florida, the programs issue mortgage revenue bonds to help lower homebuyers’ cost of purchasing.
“Many first-time homebuyers are unaware of these programs,” said Greg Peele, vice president for Embrace Home Loans’ Orlando office. “As a result, many are discouraged and even prevented from buying a home, further crippling the local housing market. The community needs to be aware of these options, either through realtors, homebuilders or local lenders.”
Peele continued, “At Embrace, we pride ourselves on having the tools necessary to help buyers get into homes. With these programs, we will further meet our commitment.”
Embrace Home Loans also works with local realtors to educate and raise awareness of the Florida and Orange County bond programs and encourage realty groups to attain approval to offer these programs. Realtors are also recommended to take Florida Housing’s Realtor CE Courses throughout the year to learn more.
“We’re excited to announce that the Orlando office can now service loans under these programs,” said Kurt Noyce, president of Embrace Home Loans. “For more than 27 years, it has been our mission to help qualified buyers purchase homes. Now, we are making that even more possible for first-time homebuyers in need of down payment and closing cost assistance. We are confident that these programs will further benefit the local community as well as the overall Florida housing market.”
In today’s lending environment where income limits, loans limits and other guidelines are constantly changing, potential borrowers should contact their local lender for the most current requirements. Embrace’s Orlando team of bond lending experts have more than 100 years of combined experience and are available to assist your lending needs:
|800-333-3004 ext. 3522|
|800-333-3004 ext. 3559|
|800-333-3004 ext. 3451|
|Judy Lynn Bamundo|
|800-333-3004 ext. 3508|
About Embrace Home Loans
Founded in 1983, Embrace Home Loans is a direct lender for Fannie Mae and Freddie Mac and, approved by HUD to make FHA insured loans, approved for VA, and an issuer for Ginnie Mae. Embrace Home Loans has remained a prominent leader in the industry, having helped hundreds of thousands of individuals and their families purchase new homes, lower their monthly payments and consolidate high-interest debt since its inception. For more information, visit the company’s website at www.embracehomeloans.com or follow them on Twitter and Facebook.