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All Information is subject to change without notice.

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911loan@gmail.com

 
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
5.0/5.0
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251

CREDIT REQUIREMENTS Mobile top

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 

CALL NOW!

954-667-9110

Apply Now!

GAINESVILLE FLORIDA FHA MORTGAGE LENDERS

 

 

FLORIDA FHA MORTGAGE LENDERS ADVANTAGES INCLUDE:

Florida FHA Mortgage Loans Have Minimal Down Payment & Fees:

  • 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 buyers costs. 
  • No reserves or future payments in account required.
  • FHA regulated closing costs. 

Florida FHA Mortgage Lenders Make it Easier To Qualify Because:

FHA Mortgage Lenders Allow For Higher Debt To Income and Flexible Job Qualifying:

4 C’S FLORIDA FHA MORTGAGE LENDER REQUIRMENTS

  • FHA Minimum Cash/Down payment Or Equity -FHA 3.5% Down Payment Cash or 20% Equity/ 80% LTV for cash out or 96.75% Rate term Refinance- Verity the borrower has the down payment from acceptable source on a purchase or enough equity to cover payoffs and closing cost to include taxes insurance on a refinance.
  • FHA Minimum Credit 500+ Credit Score – Does the borrower have the minimum credit score to meet the loan program? Does the borrower have collections that have to be paid off that will reflect the cash needed to close? Do student loans that are deferred need to be added to the monthly obligations? Does the lender require %1 cumulative student loans or 5% of the cumulative collections accounts over +$2000 added back to the debt to income ratios.
  • Capacity-56.9% FHA Maximum-  Does the borrowers debt to income ratio meet the loan program requirements or no more debt than 56.9% of the total housing + all obligations reflected on the borrowers credit report. 
  • Collateral/FHA Approved Property Types Include- Single family homes, Townhomes, villas, 1-4 family multi Unit Homes, and  FHA Approved Condos!

CATEGORY: FHA MORTGAGE GUIDELINES

How Do FHA Mortgage Lenders Consider Debts Paid By Another Person?

A liability that may result in the obligation to repay only when a specific event occurs. For example, a  liability exists when an FHA mortgage applicant can be held responsible for the repayment of a debt if another legally obligated party defaults on the payment. Contingent liabilities may include cosigner liabilities and liabilities resulting from…

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Do FHA Mortgage Lenders Approve Borrowers With Bad Credit?

The main advantage with FHA mortgage lenders  is that the credit qualifying criteria for a borrower are not as strict as conventional financing.  FHA mortgage lenders may consider a bad credit mortgage applicant to have an acceptable payment history if the bad credit mortgage applicant has made all housing and installment debt payments on time…

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Do FHA Mortgage Lenders allow gifts of equity?

Do FHA Mortgage Lenders allow gifts of equity? Only Family Members may provide equity credit as a gift on property being sold to other Family Members.  FHA mortgage  must obtain a gift letter signed and dated by the donor and FHA mortgage applicant that includes the following:   • the donor’s name, address, telephone number;  •…

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How to Get An FHA Mortgage Lenders Approval With Bad Credit?

The bad credit FHA mortgage lenders must use a traditional credit report, if available. A Residential Mortgage Credit report (RMCR) must be obtained from an independent credit reporting agency.  The Bad credit FHA mortgage lenders must use the same credit report and credit scores sent to TOTAL Mortgage Scorecard.  If a traditional credit report is not…

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Why Are FHA Mortgage Lenders So Popular With For Homebuyers?

FHA mortgages lenders offer many advantages and protections that only come with an FHA mortgage:  Lower Down Payment: FHA loans have a low 3.5% down payment and that money can come from a family member, employer or charitable organization as a gift. Conventional mortgage lenders do not allow this. Easier to Qualify: Due to the…

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Do FHA Mortgage Lenders allow Flipping?

Property Flipping is indicative of a practice whereby recently acquired property is resold for a considerable profit with an artificially inflated value.   The term Property Flipping refers to the purchase and subsequent resale of a property in a short period of time.  The eligibility of a property for an FHA mortgage lender is determined by…

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Do FHA Mortgage Lenders Allow Collections or Judgements?

COLLECTIONS-JUDGEMENTS COLLECTIONS- FHA Mortgage applicants are not required to pay off all collection accounts. However, outstanding collections will reflect on your creditworthiness overall and may be held against you. In this case, one or more of the collections may need to be paid off in order to improve your credit score and show your willingness to pay debts….

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Do FHA Mortgage Lenders Lend on Condos?

Yes, FHA mortgage lenders will finance FHA Approved Condominium under the 203b program, FHA mortgage lenders provide insurance on FHA mortgage loans secured by one-family condominium Units located in FHA-Approved Condominium Projects and in Units located in Condominium Projects not approved by FHA.    FHA Mortgage loans are made by FHA-approved mortgage lenders, such as…

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Will FHA Mortgage Lenders Accept bad credit? What are the requirements for a manually underwritten mortgage?

Will FHA Mortgage Lenders Accept bad credit? What are the requirements for a manually underwritten mortgage? The bad credit FHA mortgage lenders must use a traditional credit report, if available. A Residential Mortgage Credit report (RMCR) must be obtained from an independent credit reporting agency.  The Bad credit FHA mortgage lenders must use the same…

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Can I use FHA Mortgage Lenders to buy a Second Home?

Secondary home  refers to a dwelling that an FHA mortgage applicant occupies, in addition to their principal home, but less than a majority of the calendar year. A Secondary home does not include a vacation home.  Secondary homes are only permitted with written approval from the FHA mortgage lenders approved  jurisdictional Homeownership Center provided that: …

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Do FHA Mortgage Lenders Require Collections To Be Paid Off To Qualify For An FHA Mortgage?

A Collection Account refers to a FHA mortgage applicants loan or debt that has been submitted to a collection agency by a creditor.   If the credit reports used in the analysis show cumulative outstanding collection account balances of $2,000 or greater, the FHA mortgage lender must:  •     verify that the debt is paid in full…

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Do FHA Mortgage Lenders require reserves for manually underwritten loans?

Yes, the Mortgagee must verify and document Reserves equivalent to (1) one month’s Principal, Interest, Taxes, and Insurance (PITI) after closing for one- to two-unit Properties.  The Mortgagee must verify and document Reserves equivalent to (3) three months’ PITI after closing for three- to four-unit properties. What are FHA mortgage reserves? FHA Mortgage reserves are…

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Do FHA Mortgage Lenders Allow Gift of Down payment To come from Friends or Employer?

Do FHA Mortgage Lenders Allow Gift of Down payment To come from Friends? FHA mortgage lenders refer to gifts or contributions of cash or equity with no expectation of repayment.  Gifts may be provided by:   • a close friend with a clearly defined and documented interest in the Borrower;  • the Borrower’s Family Member;  •…

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Do FHA Mortgage Lenders allow employers gift the borrower’s down payment?

Do FHA Mortgage Lenders allow employers gift the FHA mortgage applicants down payment?   Employer Assistance refers to benefits provided by an employer to relocate the FHA mortgage applicants or assist in the FHA mortgage applicants housing purchase, including closing costs, Mortgage Insurance Premiums (MIP), or any portion of the FHA mortgage applicants Minimum Required…

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Do FHA mortgage Lenders allow realtors to  give a gift of their commission for the down payment?

Do FHA mortgage Lenders allow realtors to  give a gift of their commission for the down payment? Can A Realtors real estate Commission from Sale of Subject Property refers to the Borrower’s down payment  portion of a real estate commission earned from the sale of the property being purchased.  FHA mortgage lenders may consider Real…

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Do FHA Mortgage Lenders Allow Gifts for Down Payment And Closing Cost?

Do FHA Mortgage Lenders Allow Gifts for Down Payment And Closing Cost? FHA Mortgage Lenders refer to Gifts as contributions of cash or equity with no expectation of repayment.     FHA Mortgage Lenders Allow Gift Funds from the following approved sources • The  FHA mortgage applicants Family Member;  • The  FHA mortgage applicants employer or labor…

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Will FHA Mortgage Lenders Allow More Than 1 FHA Mortgage?

FHA mortgage lenders will not insure more than one Property as a Principal Residence for any FHA mortgage applicants, except as noted below. FHA mortgage lenders will not insure a Mortgage if it is determined that the transaction was designed to use FHA mortgage insurance as a vehicle for obtaining Investment Properties, even if the…

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FHA Mortgage Lenders Cash Out and Rate Term Refinance

FHA Mortgage Lenders Rate Term Refinance Properties owned > 12 months: The subject property must be owner occupied for at least 12 months at the time of case number  assignment.  Properties owned < 12 months: The subject property must be owner occupied for the entire period of ownership at the time of case number assignment. …

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FHA Mortgage Lenders Compensating Factors

FHA COMPENSATING FACTORS What are FHA compensating factors? (FHA compensating factors are the stronger elements of a credit application that it offsets something weaker in the application) but it’s more complicated than that. Different FHA Lenders manage the consideration of compensating factors in different ways. FHA’s written guidelines outline specific examples of what FHA compensating factors…

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FHA Mortgage Lenders Manual Underwriting Approvals

 FHA Manual Underwrite Lenders Specifications  CREDIT SCORE RANGE MAXIMUM QUALIFYING RATIOS APPLICABLE GUIDELINE 500 – 579 ·31/43 ·Energy Efficient Homes may stretch ratios to 33/45 ·Max LTV 90% unless cash out (80%) ·No gifts ·No down payment assistance ·No streamlines ·One month in reserves for 1-2-unit Properties, three months in reserves for 3-4-unit properties (cannot be a…

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FHA Mortgage Lenders Allow Non Occupant Co Borrowers

FHA Mortgage Lenders Non-Occupant co borrower 1-Unit properties only. Max mortgage is limited to 75% LTV unless non-occupying co- borrower’s meet FHA definition of ‘family member’. Seller cannot be non-occupant co-borrower. Non-occupant co-borrowers may be added to improve ratios. Non-occupant co-borrowers cannot be used to overcome or offset borrower’s derogatory credit. The non-occupying borrower arrangement…

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FHA Mortgage Lenders Source Of Down Payment And Reserves

FHA Mortgage Lenders require a minimum cash investment from FHA mortgage applicants own funds and/or gift (no cash on hand allowed when FHA mortgage applicants uses traditional banking sources and has traditional credit history). Any deposit 1 % and greater of the sales price must be sourced and seasoned. An aggregate of deposits 1 °/o…

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FHA Mortgage Lenders Can Use Non Taxable Income To Qualify

FHA Mortgage Lenders Allow Nontaxable income such as Social Security, Pension, Workers Comp and Disability Retirement income can be grossed up 115% of the income can be used to qualify for an FHA mortgage loan.  Unacceptable Sources of Income Include: The following income sources are not acceptable for purposes of qualifying the borrower: Any unverified…

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What Are FHA Mortgage Lenders Debt To Income Ratio Requirements?

Debt Ratio – Loans with AUS Approve/Eligible – follow AUS decision. Credit scores of 640 and under and DTI greater than 43% regardless of AUS decision require explanation for derogatory credit and a VOR or rent free letter (if applicable). Manually underwritten loans with FICO score> 580 may exceed 31°/o/43°/o ratios with acceptable compensating factors…

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FHA Mortgage Lenders Cash-Out Refinance Payment History

FHA Mortgage Lenders Mortgage/Rental History Payment History All Cash Out Refinance Transactions and Manually Underwritten Rate Term Refinance Transactions: No 30 Day late payments within the last 12 months of case number assignment. FHA Mortgage Lenders Rate and Term Refinance Transactions: AUS Accept – follow AUS. ALSO CHECK FHA Mortgage Lenders Compensating Factors FHA COMPENSATING…

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FHA Mortgage Lenders Minimum Trade Line Requirement

FHA Minimum Tradelines or Minimum Credit Reporting History FHA mortgage applicants must have sufficient credit history to generate a valid FICO score, or FHA mortgage applicants must meet the non-traditional FHA mortgage lenders guidelines listed below. Generally, an acceptable credit history does not have late housing, installment debt or major derogatory revolving payments. Authorized tradelines…

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How Do FHA Mortgage Lenders calculate student loan payments?

How Do FHA Mortgage Lenders treat Student Loans? Student Loan Payments – Student loan(s) would be calculated as follows, regardless of the payment status. FHA mortgage lenders must use either the greater of: 1% of the outstanding balance on the loan; or the monthly payment reported on the FHA mortgage applicants  credit report; or the…

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FHA Mortgage Lenders Approval With Disputed Accounts

FHA Mortgage Lenders Approval With Disputed Accounts derogatory accounts >= $1,000 cumulative must be downgraded to “Refer” manual underwrite. Medical and accounts resulting from identity and credit card theft or unauthorized use are excluded. A letter from the creditor, police report, etc. is required. Disputed non-derogatory accounts are excluded from the $1000 cumulative total which…

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FHA Mortgage Lenders Approval With Loan Modifications

FHA Mortgage Lenders Approval After A Loan Modifications FHA Mortgage Lenders Automated Underwriting System required to follow guidance for acceptable mortgage history. Manual Underwrite -follow manual mortgage requirements (Ox30 for most recent 12 months and 2×30 for the most recent 24 months on the modified mortgage.) Payment history is evaluated based upon the FHA mortgage…

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FHA Mortgage Lenders Qualifying Requirements After A Short Sale

FHA Mortgage Qualifying After A Short Sale Any Short Sale within three (3) years of the case assignment requires a manual underwrite. An FHA mortgage applicant who is in default at the time of short sale/restructure or pre-foreclosure or late on any mortgage or installment obligations within 12 months of the short sale is not…

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FHA Mortgage Lenders After Foreclosure or Deed In Lieu of Foreclosure

What are the guidelines for FHA mortgage applicants with a previous foreclosure or deed-in-lieu of foreclosure? A FHA mortgage applicants is generally NOT eligible for a new FHA-insured mortgage if the Borrower had a foreclosure or a deed-in-lieu of foreclosure in the last 3 three-year period prior to the date of case number assignment. This…

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FHA Mortgage Lenders DoNot Consider Timeshares A Housing Obligation

Is a foreclosure on a timeshare considered a mortgage foreclosure or installment loan? A loan secured by an interest in a timeshare must be considered an Installment Loan and NOT a housing obligation and not considered a Foreclosure event! Also Check out! FHA Mortgage Lenders Credit Score For FHA Mortgage Qualifying FHA Mortgage Lenders After…

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FHA Mortgage Lenders With Judgements And Liens

How Do FHA Mortgage Lenders treat judgements or liens? All outstanding judgments and liens must be paid prior to or at closing except when the FHA mortgage applicant has an agreement with the creditor to make regular and timely payments. Copy of the agreement and a minimum of three (3) monthly scheduled payments prior to…

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FHA Mortgage Lenders Disputed Credit Accounts

How are disputed credit accounts considered with FHA mortgage lenders?   Disputed Derogatory Credit Account refers to disputed charge off accounts, disputed collection accounts, and disputed accounts with late payments in the last 24 months.   If the credit report indicates that the Borrower is disputing derogatory credit accounts, the Borrower must provide a letter of…

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FHA Mortgage Lenders Approval With Collection Accounts

FHA Mortgage Lenders Approval W Collection Accounts • FHA mortgage lenders add 5% of the outstanding balance of each collection will be used as the monthly payment and will be included in the DTI . • FHA mortgage lenders treat Repossessions as charge offs unless specifically notated that the account was sent to collections. Balances…

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What Are FHA Mortgage Lenders Minimum Credit Score?

The FHA mortgage applicant is not eligible for FHA-insured financing if the Minimum Credit Score  is less than 500. If the Minimum FHA Mortgage Credit Score is between 500 and 579, the FHA mortgage applicant is limited to a maximum loan-to-value (LTV) of 90 percent. If the Minimum FHA Mortgage Credit Score is at or…

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FHA Mortgage Lenders For DACA Status Recipients

FHA to Permit DACA Status Recipients to Apply for FHA Insured Mortgages Effective January 19, 2021, the Federal Housing Administration (FHA) is permitting DACA FHA mortgage applicants classified under the “Deferred Action for Childhood Arrivals” program DACA FHA mortgage applicants with the U.S. Citizenship & Immigration Service (USCIS) and are legally permitted to work in…

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FHA Mortgage Lenders While In Consumer Credit Counseling

How long do FHA mortgage require to qualify for an FHA mortgage after consumer Credit concealing?  Qualify for an FHA mortgage after consumer Credit counseling?  1 year of the pay-out has elapsed under the plan, borrower’s payment performance has been satisfactory with all required payments made timely and borrower has received written permission from the…

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FHA Mortgage Lenders Approval After Bankruptcy

For FHA Mortgage Lenders Approval After Bankruptcy How does a bankruptcy affect a FHA mortgage applicants eligibility for an FHA mortgage? A Chapter 7 bankruptcy (liquidation) does not disqualify a FHA mortgage applicants  from obtaining an FHA-insured Mortgage if, at the time of case number assignment, at least 2 years have past since the date…

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GAINESVILLE FLORIDA FHA APPRIASERS LIST

The following list of Gainesville, Florida FHA mortgage appraisers has been assembled from the HUD.gov database. Visit the HUD website for the most current list of Gainesville FHA mortgage appraisers.

Name License/
Expiration Date
Address
JAMES L BURTON FLRD1001 
(Certified Residential) 
11-30-2014
BURTON APPRAISAL CO
4035 NW 43RD STREET
GAINESVILLE,  FL  326060000
RICHARD E DARR FLRD1030 
(Certified Residential) 
11-30-2014
DARR/SMITH APPRAISAL SERV. INC
P. O. BOX 5128
GAINESVILLE,  FL  326270000
BRUCE F KONRAD FLRD1078 
(Certified Residential) 
11-30-2014
4055-28 NW 43RD ST
GAINESVILLE,  FL  326060000
DOROTHY J SELPH FLRD1148 
(Certified Residential) 
11-30-2014
SELPH APPRAISAL COMPANY
5200 # D2 W. NEWBERRY RD.
GAINESVILLE,  FL  326070000
EDWIN O DRAKE JR FLRD2204 
(Certified Residential) 
11-30-2014
MJ
2646 NW 68TH AVENUE
GAINESVILLE,  FL  326530000
KATHY J HUFF FLRD2619 
(Certified Residential) 
11-30-2014
6604 SW 80TH STREET
GAINESVILLE,  FL  326080000
STEVE WILLIS FLRD2659 
(Certified Residential) 
11-30-2014
OWENS-WILLIS APPRAISALS
1203-B N.W. 16TH AVENUE
GAINESVILLE,  FL  326010000
EDWARD N BELL FLRD306 
(Certified Residential) 
11-30-2014
EWARD N. BELL APPRAISER INC
4140-A NW-27TH LANE
GAINESVILLE,  FL  326060000
JEFF L JASZCZAK FLRD3325 
(Certified Residential) 
11-30-2014
LANDMARK APPRAISALS & REVIEWS
3011 NW 10TH PLACE
GAINESVILLE,  FL  326050000
NORMAN C WATSON FLRD3877 
(Certified Residential) 
11-30-2014
CORNERSTONE APPRAISALS INC
1705 NW 6TH ST
GAINESVILLE,  FL  326090000
GREGORY A LABELLE FLRD4827 
(Certified Residential) 
11-30-2014
OWENS-WILLIS APPRAISALS
1203-B NW 16TH AVENUE
GAINESVILLE,  FL  326010000
MICHAEL B ELLSWORTH FLRD5258 
(Certified Residential) 
11-30-2014
1043 NW 50TH TERRACE
GAINESVILLE,  FL  326050000
MONICA E WATSON FLRD6155 
(Certified Residential) 
11-30-2014
CORNERSTONE APPRAISALS, INC.
1705 NW 6TH ST
GAINESVILLE,  FL  326090000
JETT T WALLEY FLRD6223 
(Certified Residential) 
11-30-2014
WALLEY APPRAISAL SERVICE
10513 NW 25TH PLACE
GAINESVILLE,  FL  326060000
RONALD BASSRIEL FLRD6619 
(Certified Residential) 
11-30-2014
APPRAISAL ASSOCIATES
455 SW 128TH TERRACE
GAINESVILLE,  FL  326060000
GEORGE E ESSER FLRD7321 
(Certified Residential) 
11-30-2014
SRS APPRAISAL SERVICES, INC.
1315 NW 6TH STREET
GAINESVILLE,  FL  326010000
CONDALET HERRING FLRD7556 
(Certified Residential) 
11-30-2014
JOHN J LAMB, INC.
5408 NW 9TH LANE
GAINESVILLE,  FL  326060000
KEVIN G WILLIAMS FLRD7706 
(Certified Residential) 
11-30-2014
NATURE OF VALUE APPRAISAL SERV
3534 NW 110TH TERRACE
GAINESVILLE,  FL  326060000
RAQUEL L ELLSWORTH FLRD7741 
(Certified Residential) 
11-30-2014
1043 NW 50TH TERRACE
GAINESVILLE,  FL  326050000
MICHAEL J ADNOT FLRZ1006 
(Certified General) 
11-30-2014
6105 NW 35 TERRACE
GAINESVILLE,  FL  326530000
MICHAEL P BOBBITT FLRZ2749 
(Certified General) 
11-30-2014
APPLIED ECONOMICS GROUP
PO BOX 141162
GAINESVILLE,  FL  326140000
STEPHEN R SILBERMAN FLRZ2849 
(Certified General) 
11-30-2014
SRS APPRAISAL SERVICES, INC.
1315 NW 6TH STREET
GAINESVILLE,  FL  326010000
DAVID J SILBERMAN FLRZ3447 
(Certified General) 
11-30-2014
TOUCHSTONE VALUATION SERVICES
3320 NW 10TH STREET
GAINESVILLE,  FL  326090000
JOHN J LAMB FLRZ744 
(Certified General) 
11-30-2014
5408 NW 9TH LANE
GAINESVILLE,  FL  326052054

Apply Now

Questions

911loan@gmail.com

 
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251

MINIMUM CREDIT SCORE

PORTFOLIO MORTGAGE

NO MIN FICO SCORE 

NO TAX RETURN PROGRAMS

550 MIN FICO

FHA/VA MORTGAGE

500 MIN FICO

CONVENTIONAL

620 MIN FICO

CALL NOW!

954-667-9110

Apply Now!

All Information Subject To Change Without Notice and should not be relied on for decision making.