Mortgage Tools

Mortgage Check-Ups Easy as 1,2,3!

Looking for a better interest rate or perhaps lower your monthly mortgage payment?
Get a free Mortgage Check-Up with FCB to see your options today!

  1. Email Us
  2. Call us at 1-877-313-9103

Mortgage Calculator

Make calculated decisions regarding your mortgage with FCB's Mortgage Calculator! Simply enter in the requested information and we'll automatically calculate your potential monthly payment.

Below is Your Payment

0.00Monthly Principal & Interest
0.00Monthly Tax
0.00Monthly Insurance
0.00Total Monthly Payment

Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

Online Pre-Qualification

Take the first step towards homeownership by filling out our online home mortgage pre-qualification loan application. Once you've completed and submitted the form, a one of our mortgage professionals will reach out to you directly to discuss your lending options and figure out a solution that is right for you!

FAQ - Finally! Answers to your most commonly asked questions.

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  1. Why should I get a mortgage with FCB instead of a national bank?

    At Florida Community Bank, we take our middle name seriously. That's why whenever you decide to refinance with FCB, you'll have a team of experienced mortgage specialists with you every step of the way to help you throughout the entire process. With our vast range of competitive products and services, we're able to offer a Mortgage Solution that meets every individual's needs.

  2. Does FCB have any Spanish speaking mortgage specialists?

    Yes, we have a number of Spanish speaking mortgage specialists available to take your call.

  3. I am not sure if I should purchase or keep renting, what do you recommend?

    There are a number of benefits for both buying and renting a home. Buying is almost always the recommended option, as with each monthly mortgage payment you are building equity and working towards ultimately owning your own home.

  4. I want to purchase a home, but where do I begin?

    Check out our First-Time Homebuyers Guide for a comprehensive informational resource that explains the home buying process from start to finish, and speak with a mortgage specialist to learn even more about our products and how they can meet your unique needs.

  5. Will I still be able purchase a home if my credit history isn't the strongest?

    Your credit history does not solely determine whether or not you will be accepted for a mortgage loan. While credit scores influence your interest rate, factors including current and potential income, the amount of your down payment, and the type of loan program you qualify for also contribute to whether or not your application is ultimately accepted. Call a mortgage specialist today to talk about your options.

  6. How do I know how much house I can afford?

    Talk with a financial advisor to figure out what you can realistically afford, taking into account various short-term and long-term expenses. You should also get pre-qualified to see what type of loan program you might be eligible for and get an estimated price range to zero in on. To get pre-qualified and start your home buying experience today, call a Florida Community Bank mortgage specialist.

  7. How much do I need for a down payment?

    It is recommended that your down payment amount to 20% of the overall purchase price in order to avoid paying for Private Mortgage Insurance. However, certain loan programs are available for veterans and those with low to moderate income levels. To learn more about FCB's Affordable Housing Loan Program, head over to our Residential Lending Products page.

  8. Should I choose a fixed or adjustable interest rate mortgage (ARM)?

    Fixed interest rate mortgages give you the peace of mind that accompanies knowing exactly how much your mortgage payment will be each month. These rate types are recommended for homeowners looking to settle down for the long-term.

    Adjustable interest rate mortgages allow you to take advantage of changing interest rates at predetermined adjustment intervals.

  9. What type of mortgage program is best for me?

    Each mortgage type offers a variety of benefits designed to meet a particular situation. What you ultimately choose will depend on your current and expected financial status, as well as your homeownership goals. You can review a comprehensive list of the Residential Lending Products offered by FCB HERE.

  10. Are there any special mortgage options for veterans or low-income families?

    Yes, low down payment to no down payment programs are available to qualified individuals.

  11. What's the difference between being "Prequalified" and "Preapproved"?

    It's important that first-time homebuyers understand the distinction between getting prequalified and getting preapproved. Being prequalified doesn't automatically mean that you're approved for a mortgage loan. In short, getting prequalified allows you to obtain a rough estimate of what you may potentially be able to afford, based on a cursory overview of your financial situation. In contrast, getting preapproved for a mortgage loan is a more in-depth process that requires an underwriter to obtain your credit report and thoroughly evaluate your income level, assets and liabilities to determine whether or not you meet the lender's criteria. FCB does not have a preapproval process at this time.

  12. I'm ready to take the next step, how do I apply?

    You can submit a pre-qualification application online or a mortgage application either by phone or in person at one of our banking centers. Click HERE to find your local Florida Community Bank banking center.

  13. What documents do I need after my loan becomes an application and I express my intent to proceed?

    Lenders require those whose loan becomes an application to provide proof of their identity, income, debts and assets. You will need to submit the following:

    • Two forms of ID as required by FCB
    • W-2 statements covering the past two years
    • Pay stubs covering the last 30 days
    • A copy of your most recent two years tax returns
    • Bank statements covering the past two months for all financial accounts
    • Information regarding any financed items or other current consumer debts
    • A copy of the Purchase and Sales Agreement signed by all parties

    For a complete list of the documents you'll need, contact your mortgage lender.

  14. What is an escrow account?

    An escrow account is where the portion of your monthly mortgage payment that goes towards taxes and/or insurance is held. At the end of the year, your annual property taxes, insurances, or other premiums will be paid on your behalf by your lender with the money collected in this account.

  15. What can I estimate for closing costs?

    Closing costs can vary significantly depending on the loan you choose and the terms of your purchase contract. A general rule of thumb is to expect that the closing costs will come out to roughly 3.5-4.5% of the overall sale price.

  16. Can I make extra principal payments? What is the benefit?

    Yes, you have the option to make extra principal payments. Your loan must be current, with no outstanding fees, before a principal curtailment will be applied.

    The benefit of making extra principal payments is that your account will mature sooner, resulting in less interest being paid over the life of the loan.

    If you intend on making a large principal curtailment, you should first verify whether your loan agreement contains stipulations regarding prepayments and prepayment penalties.

  17. Experienced Homebuyers:

  18. Why should I refinance with FCB instead of a national bank?

    At Florida Community Bank, we take our middle name seriously. That's why whenever you decide to refinance with FCB, you'll have a team of experienced mortgage specialists with you every step of the way to help you throughout the entire process. With our vast range of competitive products and services, we're able to offer a Mortgage Solution that meets every borrower's needs!

  19. Does FCB have a Spanish speaking mortgage specialist?

    Yes, we have a number of Spanish speaking mortgage specialists available to take your call.

  20. When is it a good idea to refinance?

    In general, most homeowners choose to refinance their mortgage whenever one of the following events occurs:

    • Interest rates are falling
    • They want to lower their monthly payment by increasing their mortgage term
    • They want to shorten their mortgage term, reducing their total payment amount
    • They need to finance a major expense and want to take equity out of your home
    • Their home's market value has significantly appreciated
    • They want to switch from and adjustable to a fixed rate loan
  21. What options do I have for refinancing?

    Visit our Residential Lending Products page to view a comprehensive list of FCB's refinancing solutions. For more specific products relating to your own personal situation, contact an FCB Mortgage Professional to discuss your options.

  22. How much are closing costs on a refinance?

    Your particular loan can affect your total amount of closing costs greatly. A general rule of thumb is to estimate that closing costs will add up to roughly 3% on a refinance.

  23. What is a Cash-Out Refinance?

    A Cash-Out Refinance allows homeowners to take advantage of the equity within their home in order to fund major expenses like home improvement projects or a "dream" vacation.

  24. Is there a closing process when you refinance?

    Yes, you will need to go through another application and closing process similar to when you first applied for your residential mortgage. Think of refinancing as essentially replacing your current home mortgage with a new one.

  25. Do I need to have my house appraised in order to refinance?

    Yes, in most cases a professional appraisal will be required by your lender.

  26. What is the difference between a Home Equity Line of Credit ("HELOC") and a Cash-Out Refinance?

    Both a HELOC and a Cash-Out Refinance allow borrowers to take advantage of equity within their home in order to fund major home improvement projects, consolidate higher-interest debt, pay educational expenses and more. The difference between a HELOC and a Cash-Out Refinance has to do with their terms, closing costs and how the borrower actually receives the funds.

    You can think of taking out a HELOC as taking out a second mortgage, but while HELOCs have relatively little closing costs, Cash-Out Refinances have almost all of the same closing costs as your first home mortgage loan. With a cash-out refinance, you will simply pay off your original loan and replace it with another. Unlike a Cash-Out Refinance where you're provided with a lump sum of cash at closing, a HELOC approves you for a certain amount of credit that you may draw upon as-needed for an agreed-upon period of time. After this draw period expires, the borrower begins to repay the HELOC plus interest.

First-Time Homebuyers Guide

So you've finally made the decision to purchase a home, what now? Take advantage of our First-Time Homebuyers Guide to gain access to important information regarding your first-time home buying experience!

Click here to view our First-Time Homebuyers Guide.

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