Zellwood Station is a not for profit cooperative, which makes home financing different than the industry standard.
Zellwood Properties has several local banks that offer financing programs.
Most lenders require 20% to 25% down
Terms up to 20 years (depending on age of home) Both fixed and adjustable rates available
Competitive rates (varies on credit worthiness typically 5.70% to 6.50%)
Before you apply for a loan, please discuss financing options with one of our knowledgeable sales associates. They can guide you through the process.
A lender can help you understand the different financing options available and can recommend the reputable lenders in best suited to your financial position and the property you wish to buy.
There are two basic categories of mortgages: the fixed-rate and the adjustable-rate mortgage. Within these categories, there are many variations.
Fixed-rate mortgage:
This type of mortgage begins with a higher initial mortgage payment, with the trade-off that all future payments remain consistent and predictable. The interest rate on the loan does not change, making budgeting and planning for this type of mortgage simpler and less risky.
Adjustable-rate mortgage:
This type of mortgage can be attractive because the initial mortgage payments generally start out much lower than those in a FRM. This early benefit comes with the risk of increased and fluctuating later mortgage payments, as the interest rate changes over the course of the loan.
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