Florida-Mortgage-Lenders.com is a leading Leesburg Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Leesburg Florida people become homeowners since 1934. Leesburg Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Leesburg Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
LEESBURG FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Leesburg 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.
LEESBURG FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Leesburg Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Leesburg 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.
• Leesburg 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.
LEESBURG 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 Leesburg 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 Leesburg Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Leesburg Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Leesburg Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN LEESBURG FLORIDA
LEESBURG FLORIDA FHA APPROVED CITY DATA
Leesburg is a city in Lake County, Florida, United States. The population was 15,956 at the 2000 census. As of 2005, the population recorded by the U.S. Census Bureau is 19,086. It is part of the Orlando–Kissimmee–Sanford Metropolitan Statistical Area
LEESBURG FLORIDA FHA CITY DATA:
Males: 9,361 (44.3%)
Females: 11,781 (55.7%)
Median resident age: 40.7 years
Florida median age: 40.3 years
Zip codes: 34762, 34788, 34797.
Estimated median household income in 2012: $31,468 (it was $25,988 in 2000)
Estimated per capita income in 2012: $20,091 (it was $15,762 in 2000)
Estimated median house or condo value in 2012: $106,985 (it was $62,200 in 2000)
Mean prices in 2009: All housing units: $175,704; Detached houses: $197,859; Townhouses or other attached units: $197,100; In 2-unit structures: $91,908; In 3-to-4-unit structures: $139,373; In 5-or-more-unit structures: $177,160; Mobile homes: $98,196
Median gross rent in 2012: $872.
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About the City of Leesburg
Leesburg was first settled in 1857 by Evander McIver Lee. Several of Evander Lee's brothers followed him to the area. One of these brothers, Calvin Lee, was credited with giving the town its name. The city of Leesburg was first incorporated in 1875, and was the county seat of Sumter County for a time until Lake County was formed in 1887.
According to the United States Census Bureau, the city has a total area of 24.4 square miles (63 km2). 18.7 square miles (48 km2) of it is land and 5.8 square miles (15 km2) of it (23.65%) is water.
There were 6,775 households out of which 24.5% had children under the age of 18 living with them, 39.6% were married couples living together, 16.8% had a female householder with no husband present, and 39.8% were non-families. 33.9% of all households were made up of individuals and 18.1% had someone living alone who was 65 years of age or older. The average household size was 2.26 and the average family size was 2.86.