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Florida-Mortgage-Lenders.com is a leading Lake Wales Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Lake Wales Florida people become homeowners since 1934. Lake Wales Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Lake Wales Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.


LAKE WALES FLORIDA FHA MORTGAGE ADVANTAGES

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FHA Loans for Buying a Florida Home or FHA Refinance Mortgages 

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 www.Florida-Mortgage-Lenders.com 

LAKE WALES FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:

• Lake Wales 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.

LAKE WALES FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:

• Purchase a Lake Wales Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Lake Wales 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.
• Lake Wales 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.

LAKE WALES 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 Lake Wales 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 Lake Wales Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Lake Wales Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Lake Wales Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.

HOMES FOR SALE IN LAKE WALES FLORIDA
LAKE WALES FLORIDA FHA APPROVED CITY DATA

LAKE WALES FLORIDA:

Lake Wales is a city in Polk County, Florida, United States. The population was 10,194 at the 2000 census. As of 2004, the population estimated by the U.S. Census Bureau is 11,802. It is part of the Lakeland–Winter Haven Metropolitan Statistical Area.

LAKE WALES FLORIDA FHA CITY DATA:

Males: 6,806 (45.6%)
Females: 8,110 (54.4%)
Median resident age: 42.1 years
Florida median age: 40.3 years
Zip codes: 33853.
Estimated median household income in 2012: $33,086 (it was $26,884 in 2000)
Lake Wales: $33,086
FL: $45,040
Estimated per capita income in 2012: $17,298 (it was $16,106 in 2000)
Estimated median house or condo value in 2012: $105,848 (it was $68,300 in 2000)
Lake Wales: $105,848
FL: $148,200
Mean prices in 2009: All housing units: $165,332; Detached houses: $170,167; Townhouses or other attached units: $132,786; In 2-unit structures: $122,227; In 5-or-more-unit structures: $89,325; Mobile homes: $108,267
Median gross rent in 2012: $713.

Lake Wales FHA MORTGAGE  / Lake Wales VA / Lake Wales Lake Wales FHA REFINANCE / Lake Wales NO CREDIT / Lake Wales BAD CREDIT / Lake Wales HARD MONEY / Lake Wales LOAN INFO / Altamonte SpringsHA INFO / FHA LOAN  LIMITS

About the City of Lake Wales

The land around the present city was surveyed in 1879 by Sidney Irving Wailes, who changed the name of a lake, then known as Watts Lake, to Lake Wailes.The city of Lake Wales was established near the lake in 1911-12, planned by the Lake Wales Land Company. The spelling Wales was used for the city, although the lake is still generally spelled Lake Wailes.
The town lies near the geographical center of the Florida peninsula. Lake Wales is located on the Lake Wales Ridge, a sandy upland area running roughly parallel to both coasts in the center of the peninsula. According to the United States Census Bureau, the city has a total area of 14.0 square miles (36 km2). 13.4 square miles (35 km2) of it is land and 0.7 square miles (1.8 km2) of it (4.71%) is water.
There were 4,044 households out of which 29.4% had children under the age of 18 living with them, 40.5% were married couples living together, 18.2% had a female householder with no husband present, and 36.6% were non-families. 30.5% of all households were made up of individuals and 14.0% had someone living alone who was 65 years of age or older. The average household size was 2.44 and the average family size was 3.06.

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CREDIT REQUIREMENTS

FHA MORTGAGE

550 MIN FICO

PORTFOLIO MORTGAGE

NO MINIMUM

VA MORTGAGE

550 MIN FICO SCORE 

USDA LOANS

580 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

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