Don’t qualify for our Closing Cost Assistance Program for FHA, VA, or USDA loan? Do you want to do a Conventional loan, Jumbo loan, or Bank Statement Loan, or DSCR loan? Don’t worry—we’ve got you covered!
Get up to $10,000.00 from Bluecastle Lending when you bundle your services with Bluecastle Realty & Bluecastle Title! Plus, refinance higher interest rates on us when the mortgage rates drop!
This explains the different down payment options and closing costs for various loan types:
This is the money you pay upfront when buying a house, kind of like a deposit. What is the minimum down payment for a house? Here’s the minimum required for each loan type:
It depends on your income compared to the average income in your area. If your income is below the average Area Median Income, or AMI set by Fannie Mae, you can put down as little as 3% of the house price as a down payment. If your income is higher than the average, you’ll need a bigger down payment of at least 5% of the house price.
The minimum down payment is 10%. However, most banks require a 20% down payment.
We utilize your bank deposits as income instead of tax returns. The minimum down payment depends on your credit score but is no less than 10%.
We utilize the potential rent from the property you are buying as income, instead of tax returns. The minimum down payment depends on your credit score but is no less than 20%.
For VA Loans, USDA Loans, & FHA Loans loan down payment assistance, visit our Closing Cost Assitance Program page
These are extra fees you’ll need to pay on top of the house price when you buy it. They cover things like real estate taxes, appraisals, and title fees. Here’s a breakdown:
Closing costs for these loans are usually around 6% of the purchase price.
For VA Loans, USDA Loans, & FHA Loans loan down payment assistance, visit our Closing Cost Assitance Program page
Add the down payment and closing costs to see the minimum amount of cash you’ll need upfront.
Heads Up:
These numbers don’t include any special discounts or credits we might offer to help with the costs!
The bottom line is that we offer a substantial competitive advantage in finding your dream home. We help you financially buy your home and later refinance it when interest rates drop. All you have to do is surf the wave with Bluecastle by your side!
Real Estate buyers who purchase a home with Bluecastle Realty, finance with Bluecastle Lending, and close with Bluecastle Title are eligible for this promotion. This program is for Conventional loans, Jumbo loans, Bank Statements loans, and DSCR loans only. It is subject to credit and underwriting approval.
The program is exclusively available to all Bluecastle Realty real estate agents. If you prefer to work with another real estate agency, we have other ways to help you save.
No. It can be for primary residence, second homes, and investment homes. However, vacation homes and investment properties require larger down payments.
We won’t know if you qualify until we submit the file and receive approval, but we usually know right away. We need a loan application, credit, and all the supporting loan documents. Also, your debt to income ratio must be in line with the type of mortgage loan you are applying for.
Fannie Mae and Freddie Mac, as well as Bank Statement Loans have debt to income (DTI) requirements. We don’t have a debt to income ratio requirement on a DSCR loan.
No, you don’t. The program was initially created to assist First Time Homebuyers however, it was later extended to “any time home buyers”. The Program is only for home purchases.
The borrower is responsible for paying for all loan closing costs. However, with the help of Bluecastle Realty and Bluecastle Lending, you might not have to cover them all on your own.
The Florida program aims to help more people become homeowners by removing income requirements. The Program doesn’t require an income limit or demand certain income. This means that individuals from every income level can request assistance with the closing costs for their home purchase.
We do not offer Conventional loans with no down payment. Check for a Department of Veteran Affairs loan (VA loan), or inquire about a USDA loan.
The program is inclusive of all residential property types. You can buy a single family home, a condo, townhouse, or villa.
No, you do not have to repay it back. This can help many people worried about paying back a loan to a family member, returning a favor, or having a second mortgage loan.
It is up to you. You can choose a loan with 30-year fixed mortgage rates for the life of the loan, or you can elect an Adjustable Rate Mortgage.
No. With our program, You do not have income restrictions nor have to repay the closing cost credits.
No. With our program, You do not have income restrictions nor have to repay the closing cost credits.
The program is only for property purchases. Minimum credit history score requirements apply. The closing credits cannot be given as cash. The funds are coming from Bluecastle Lending. This Program is not a Florida State Sponsored Closing Cost Assistance Program. Bank Statement Loans are usually for self-employed individuals, rarely for W2 employees. DSCR loans are only for investment properties, not primary or secondary residences. See Offer Terms & Conditions.
This offer is available only to clients who close on the purchase of a property with Bluecastle Realty as the Buyer’s Agent using the ShowME (Showami) function of our site for the property showings, finance that purchase with Bluecastle Lending as the Mortgage Broker, and close with Bluecastle Title and/or its assigns as the Title Company.
Buy with Bluecastle Lending ®, Bluecastle Realty, and Bluecastle Title and get a 1.25% closing credit up to $10,000 from Bluecastle Lending ®.
Eligible borrowers will receive a lender-paid credit equal to 1.25% of their loan amount. For example, a $200,000 home purchase price minus a 5% down payment of $10,000 results in a loan amount of $190,000. The client would receive a credit of 1.25% of the $190,000, for a credit of $2,375 toward closing costs.
This offer does not apply to team member loans, may not be redeemed for cash, is non-transferable, and may not be combined with other offers, promotions, or concessions. It cannot be retroactively applied to loans once the rate has been locked. Other conditions and exclusions apply. This is not a commitment to lend and is contingent on qualification per full underwriting guidelines.
Bluecastle Lending LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, or age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.
Bluecastle Lending LLC RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Rates and Terms are subject to change at any time without notice and are subject to state restrictions. Bluecastle Lending LLC NMLS # 1463069 (www.nmlsconsumeraccess.org)
Bluecastle Lending, LLC; NMLS #1463069; www.NMLSConsumerAccess.org. Equal Housing Lender. Bluecastle Lending ® is a registered trademark. Bluecastle Lending, Bluecastle Realty and Bluecastle Title fully support the principles of the Fair Housing Act. Bluecastle Realty is a d/b/a for Baglioni & Associates Realty LLC Lic # CQ1038727. Broker of Record: Martin A Baglioni Lic# BK657296. Each Bluecastle company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation and applicable legal and regulatory requirements.
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