FHA 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.
Posts Tagged ‘loans’
Florida Mobile home loans w/land
Tuesday, April 13th, 2010Florida home loans, 97% Financing ((w/530 FICO))
Sunday, April 11th, 2010Florida Home Loans, 97% Financing
Whether youâre a Florida first-time home buyer or a seasoned veteran, finding a great Florida home loan  is often stressful and time-consuming. FHAmortgagePrograms.com helps streamline the Florida home loan process.Â
Hereâs how it works:
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http://www.fhamortgageprograms.com/florida/
Florida home loan specialist
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For the Florida home buyer coming up with the down payment is often one of the most difficult challenges to becoming a Florida first-time homeowners. Fortunately, today there are numerous Florida home loan  programs available that allow Florida home loan applicants to contribute as little as 3-5 percent of the purchase to purchase a Florida home.
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For example, in order to buy a $150,000 Florida home, a borrower could get away with putting $4,500 down compared with $30,000, the traditional 20 percent down payment. Of course, low down payment loans do require Florida home loan applicants to meet certain criteria. Typically, Florida  home buyers will need to have a good credit history that demonstrates their responsibility with borrowed money. They will also be required to provide proof of sufficient income for the home purchase a Florida home and they will need to have enough cash on hand to cover both the down payment and the mortgage closing costs.These Florida mortgage programs have made homeownership affordable for millions of Florida home loan applicants, but there are some drawbacks to making a minimal down payment on a Florida home loan, like having to pay private mortgage insurance (PMI). With a low down payment home loan, the Florida  lender takes on more risk than a 20 percent down mortgage. In order to reduce this risk, the borrower will be required to pay PMI until your equity reaches roughly 20 percent. That means paying an extra several hundred dollars in Florida mortgage fees each year. Still, for many Florida first-timers, the additional future costs is often worth the thrill of owning their first Florida  home.
FHA mortgage loans, FHA home loan mortgage Lenders provide easy financing
Friday, April 9th, 2010Let FHA Loans Help You Buy a Florida HOME.
Did you know, the FHA mortgage program provides more security to Florida homeowners than ANY other FHA mortgage program today? In cases of financial difficulty, you have a higher probability of NOT losing your Florida home if you have an FHA mortgage Vs. those who have a conventional or Sub-Prime Florida home loan. Plus, all FHA home loans are FULLY assumable — adding one more layer of protection for you and your family!
Florida home buyers should know the many advantages of the FHA home loan programs. FHA loans were created to help increase Florida home ownership. For the Florida home buyer the FHA program can simplify the home buying process, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:
Minimal Down Payment and Closing costs.
Easier Credit Qualifying Guidelines such as:
Apply NOW AT http://www.fhamortgagefhaloan.com/
FHA loans have been helping Florida homebuyers become homeowners since 1934. How do we do it? (FHA) aka the Federal Housing Administration – which is part of HUD – insures the FHA home loan, so your Florida mortgage lender can offer you a better deal.
What does FHA have for you?
Buying your first home?FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties.
Want a Florida fixer-upper? FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs – all in one loan.
FHA Financial help for seniors Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer “yes” to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
Want to make your Florida home more energy efficient? You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
How about Florida manufactured housing and mobile homes? Yes, FHA has financing for mobile homes and factory-built housing. We have two loan products – one for those who own the land that the home is on and another for mobile homes that are – or will be – located in mobile home parks.