DELRAY BEACH FL FHA MORTGAGE LENDERS
Florida-Mortgage-Lenders.com is a leading Delray Beach Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Delray Beach Florida people become homeowners since 1934. Delray Beach Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Delray Beach Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
DELRAY BEACH FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Delray Beach FL Down payment only 3.5% of the purchase price.
• Gifts from family or Grants for down payment assistance and closing costs OK!
• Seller can credit buyers up to 6% of sales price towards buyer's costs.
• No reserves or future payments in account required.
• FHA regulated closing costs.
DELRAY BEACH FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Delray Beach Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Delray Beach Florida 24 months after a chapter 7 Bankruptcy.
• FHA will allow a FHA mortgage 3 years after a Foreclosure.
• Minimum FICO credit score of 580 required for 96.5% financing.
• Delray Beach Bad credit Florida FHA mortgage approvals minimum FICO credit score of 530 required for 90 FHA financing.
• No Credit Score Florida mortgage loans & No Trade Line Florida FHA home loans.
DELRAY BEACH FLORIDA FHA MORTGAGE LOANS ALLOW HIGHER DEBT TO INCOME & EASIER JOB QUALIFYING:
• FHA allows higher debt ratio's than any other Florida home loan programs.
• Less than two years on the same job is OK!
• Self-employed buyers can also qualify for FHA.
• Check Florida FHA Mortgage Articles for more information.
During the Delray Beach Florida Housing Boom the FHA Mortgage had become an uncommon mortgage loan product because of the plentiful supply of credit including Subprime, Conventional, and Fannie Mae. Many Delray Beach Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Delray Beach Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Delray Beach Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN DELRAY BEACH FLORIDA
DELRAY BEACH FLORIDA FHA APPROVED CITY DATA
DELRAY BEACH FLORIDA:
Delray Beach is a coastal city in Palm Beach County, Florida, United States. As of the 2010 census, the city had a total population of 60,522. It is part of the Miami metropolitan area.
DELRAY BEACH FLORIDA FHA CITY DATA:
Males: 31,152 (48.6%)
Females: 32,920 (51.4%)
Median resident age: 46.0 years
Florida median age: 40.3 years
Zip codes: 33484.
Estimated median household income in 2012: $49,461 (it was $43,371 in 2000)
Delray Beach: $49,461
Estimated per capita income in 2012: $35,124 (it was $29,350 in 2000)
Estimated median house or condo value in 2012: $175,700 (it was $102,700 in 2000)
Delray Beach: $175,700
Mean prices in 2012: All housing units: $307,616; Detached houses: $405,592; Townhouses or other attached units: $203,133; In 2-unit structures: $193,955; In 3-to-4-unit structures: $120,047; In 5-or-more-unit structures: $244,370; Mobile homes: $87,929
Median gross rent in 2012: $1,274.
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About the City of Delray Beach
In 2007, Delray Beach was labeled as the drug recovery capital of the United States because it had one of the country’s largest recovery communities and relative number of halfway houses. As a result of the article, as of July 7, 2009, the city government approved ordinances that made it illegal for sober houses and other transient rentals to operate in the area. These ordinances may be tested in the courts in the future.
According to the United States Census Bureau, the city of Delray Beach has a total area of 15.9 sq mi (41.2 km2), of which 15.4 square miles (40 km2) is land and .53 square miles (1 km2) is water (3.34%).
As of 2010, there were 34,156 households out of which 20.4% were vacant. As of 2000, 18.9% of households had children under the age of 18 living with them, 42.4% were married couples living together, 10.2% had a female householder with no husband present, and 43.7% were non-families. 35.3% of all households were made up of individuals and 18.3% had someone living alone who was 65 years of age or older. The average household size was 2.22 and the average family size was 2.87.