The FHA loan program was created to help increase homeownership. The FHA program makes buying a Florida home easier and less expensive than other types of Florida home loan programs. Here are just some Examples of how FHA can help you purchase a Florida home,Minimal Down Payment and Closing Costs.
Easier Credit Qualifying Guidelines such as:
FHA refinancing offers benefits for current Florida real estate home owners who are seeking to complete a refinance mortgage of their existing real estate mortgage. A Florida FHA home loan refinance may also benefit you even if you do not currently have a FHA loan.
Some advantages of using a FHA mortgage for your mortgage refinance are as follows:
Cash-Out Refinance up to 95% for existing or new FHA mortgages.
· Cash-Out up to 95% of your properties value.
· Consolidate first and second mortgages into single loan.
· Bill consolidation programs.
· Easier credit and income qualifications.
· FHA regulated closing costs.
Rate and Term Mortgage Refinancing up to 97% of your homes value.
· Consolidate first and second mortgages into a single loan.
· No FICO score or credit score requirements
· Competitive rates for borrowers with a Bankruptcy older than 2 years.
· Competitive rates for borrowers with a Foreclosure older than 3 years.
· Easier credit and income qualifications.
· FHA regulated closing costs.
FHA Streamline Refinance for existing FHA loans only.
· No Cost Interest Rate Reductions programs.
· No Income or Credit Qualifications.
· Zero cost refinance options available.
· Easily switch amortization for adjustable to fixed or vice versa.
· Easily shorten or lengthen term of your existing loan.
· Easier credit and income qualifications.
FHA Secure Refinance with current mortgage lates.
· Refinance your mortgage at competitive rates even if you have a mortgage late on your credit that is directly due to adjusting mortgage.
· Qualify for refinance even if currently in foreclosure.
· Complete details of FHA Secure loan.
Posts Tagged ‘Florida’
Florida FHA Mortgage, Florida FHA home loan Advantages
Tuesday, April 13th, 2010Florida Mobile home loans w/land
Tuesday, April 13th, 2010FHA mortgage loans offer Florida manufactured home seekers several options for for manufactured home loan financing for a mobile home with land. The stark reality is, with annual double digit appreciation on housing and payroll lagging behind at 3% or less, traditional stick built homes are more and more becoming far out of reach of the Florida Home Buyer. FHA home loans provide an opportunity for Florida homebuyers to get into a great manufactured home and land package with as little as 3.5% down payment. FHA Recognizing the trends and knowing that manufactured homes offer great value with terrific per square foot pricing that today’s traditional Florida homes simply can’t match. Purchasing a Florida manufactured home and land package is not as hard as you think. Because the Federal housing administration, FHA insures private Florida mortgage lenders against loss, you get a better deal.
Years ago, mobile homes were considered substandard and were not held in high regard by those who owned one. Today’s manufactured home sure has gone a long way to changing that opinion. Many offer great amenities that would cost you tens of thousands of dollars more to achieve with a traditional block home. Better still, today’s mobile homes are actually built to a higher standard than those required for traditional block homes. For instance, on the Florida coast including Key West, FL it is not uncommon to see a 1800 square foot middle class home on the market for over $300,000.00 dollars. A savvy Florida buyer can purchase a quarter acre lot outside of Tampa, FL and put a 2000 square foot manufactured home for a package price of around $100,000.00 with typically far more featured built into their home. Now that’s buying up and a perfect option for Florida First Time Buyers!
Historically, mobile homes were considered a poor investment for the mortgage market because of home depreciation concerns. After 40 years of data, this has simply been shown to be inaccurate. The typical mobile home loan secured by a manufactured home tied to land appreciates using the same principles one applies to traditional stick built homes: Supply and demand. That’s why we believe a quality land and mobile home mortgage package is really a good investment.
Florida FHA Loan, Florida FHA home loan, 97% Financing
Tuesday, April 13th, 2010
Whether you are purchasing a new Florida home, renovating a house, or simply making your current home more energy efficient, the FHA home loan can be the solution to monetary concerns or problems. Since being established in the early 1930s during the great depression, the Federal Housing Administration has aimed to assist all people to live in their dream homes, be it in Florida or any other Florida county we serve including Miami Dade, Broward and Palm Beach Florida. Time tested and government backed, there are few excuses to pass up a FHA loan.
The largest percentage of a person’s life is spent in their Florida house. An FHA loan provides comfort and makes sure that time is well spent. FHA does not lend money to Florida mortgage applicants, however serves as insurance to lenders so you can obtain a mortgage or loan to renovate or purchase a Florida house. With a down payment equipment untouchable by any other mortgage program of 3.5% of the purchase price of the home, and some programs that require no money down, the benefits of an FHA loan outweigh its costs.
Florida is a beautiful state full of beautiful homes. The dream of owning a Florida home may seem difficult at first, but with thanks to the Federal Housing Administration, that dream is not an impossible. FHA mortgage programs can help you become a homeowner with the help of an easy, hassle-free FHA mortgage loan.
Like many home buyers and homeowners looking for a Florida mortgage, 1st Continental Mortgage has weathered the storm and come out stronger and wiser. With a keen focus on core principles and products like the FHA home loan, we’re ready and able to make a broad range of real estate loans throughout Florida. Other advantages to the FHA Home loan include:
Mortgage Programs With Minimal Down payment and Closing Cost
Easier Credit Qualifying Guidelines