Park Square Homes in Venice, Florida, understands that financing your new home is a crucial step in the home buying journey. To streamline this process, they’ve established Park Square Home Mortgage, LLC (“PSH Mortgage”) NMLS ID # 1683180, a joint venture with FBC Mortgage, LLC (NMLS#152859). This partnership is designed to offer Park Square Homes’ customers in Venice, FL, a seamless and integrated home buying experience.
PSH Mortgage provides a range of mortgage products, all subject to credit and property approval. It’s important to note that programs, rates, and terms are subject to change without notice, and not all products are available in every state or for all loan amounts. Restrictions and limitations may also apply. This should not be considered a commitment to lend.
To illustrate potential financing options, consider this scenario: For a primary residence with a 640 FICO score and a $350,000 purchase price, an FHA 30-year fixed-rate loan of $343,660 (including Mortgage Insurance Premium) with a 3.5% down payment could be available. At a rate of 4.99% (APR of 5.769%), the estimated monthly Principal & Interest payment would be $1,842.74. This attractive 4.99% rate is based on a builder-paid forward commitment to buydown the market rate, which may not be available on all loan programs and is subject to fund availability and expiration. Specific terms and eligibility should be confirmed with a Park Square Homes representative. Government loans under this forward commitment require a minimum 640 credit score, though exceptions with potentially higher costs may be possible for lower scores.
Furthermore, Park Square Homes is currently offering a significant incentive: “All Closing Costs” paid, up to $18,000, as a seller credit. This offer, while not requiring financing through PSH Mortgage, is contingent on using PSH Mortgage to receive the incentives. It’s crucial to understand that this builder’s offer is subject to change without notice and may not be valid in states requiring prior registration or where prohibited by law. This offer is currently available in select Park Square Homes communities on select inventory homes for contracts signed by 2/28/2025, on homes closing by 4/30/2025. Detailed information should be obtained from a Park Square Homes New Home Counselor. Broker commissions are set at 3%, earned and paid at closing.
When considering purchasing a home with Park Square Homes in Venice, FL, remember that PSH Mortgage and their partnership with FBC Mortgage are there to assist you with your financing needs. Always verify the most current rates, terms, and available incentives with your Park Square Homes representative.
