The FHA’s provides mortgage insurance to private Florida FHA mortgage lenders. FHA's driven driven missing is to encourage home ownership and provide affordable Florida mortgage opportunities with low down payment and flexible credit requirements.

FHA Loans for Buying a Florida Home or FHA Refinance Mortgages 

 SAME DAY APRPOVALS! CALL NOW 954-667-9110

www.Florida-Mortgage-Lenders.com

FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING 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 LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN: 

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

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.

FHA POPULAR MORTGAGE TOPICS INCLUDE:

FHA No Credit Score Home Loans

FHA Bad Credit Mortgage Approvals

Florida FHA Mortgage Lenders Guidelines

Since 1934, the Florida FHA mortgage lenders have help issue FHA over 37 million Florida home mortgages with a market share of 30% in 2010 vs 3% in 2007.  In 2009, Florida  FHA mortgage lenders programs insured nearly 2 million loans!

The following Florida FHA mortgage link will allow you to enter your zip code for a list of eligible properties:  FOR FLORIDA FHA MORTGAGE LOAN LIMITS CLICK HERE

According To Wikipedia:

The Florida  (FHA) was created out of the National Housing Act of 1934, and was established to increase Florida home ownership and  reduce unemployment and insure government loan programs.

FHA mortgage loans have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. The program originated during the Great Depression of the 1930s, when the rates of foreclosures and defaults rose sharply, and the program was intended to provide lenders with sufficient insurance.

Some FHA programs were subsidized by the government, but the goal was to make it self-supporting, based on insurance premiums paid by borrowers.

While most people believe that the FHA lends money directly to borrowers, it’s actually just insures a certain type of loan that is financed by traditional banks and mortgage lenders.

Four of the most visible single family housing programs that FHA offers are, Section 203(b), Section 234(c), Section 203(k) and Home Equity Conversion Mortgages (HECM) – Reverse Mortgages.

FHA Loan Type Highlights:

Section 203(b) Florida FHA mortgage lenders

• Florida FHA mortgage lenders llargest of FHA’s single family programs
• 1-4 unit properties are eligible
• flexible credit requirements
• 3.5% down payment allowed
• down payment may be a gift from specific sources

Section 234(c) Florida FHA mortgage lenders

• Florida FHA mortgage lenders mortgage insurance for individual condominium units
• credit, down payment and limits of 203(b) apply
• in 2010, condominium complexes must be approved through HRAP/DELRAP to be eligible for Florida FHA mortgage lenders FHA insurance.

Section 203(k) Florida FHA mortgage lenders

• primary program for property rehabilitation

• encourages community and neighborhood revitalization

• only 1 mortgage loan is used for both the acquisition and the renovation

• 1-4 unit properties including condominiums are eligible; check with your lender for manufactured housing eligibility

• required improvements include cost effective energy conservation standards and smoke detectors

• consultancy may be required

HECM – Reverse Florida FHA mortgage lenders 

• FHA was the first to promote reverse mortgages nationally

• allows access to equity in property with flexible terms

• lump sum, monthly payments, line of credit or a combination available

• limited to homeowners 62 years of age and older

FHA programs go beyond the scope of the previous listed programs. They offer a Streamline Refinance as well as a Streamline 203(k) for limited repairs. Also, recent legislation has helped FHA offer special programs with incentives to lenders for modifying and refinancing existing mortgages like with the “Making Home Affordable Program.”

When looking for a loan program to fit your specific needs, take a close look at FHA as their programs have become more attractive to both lenders and consumers.

With favorable loan terms, higher loan limits, 30 year fixed repayment terms and flexible Florida FHA mortgage lenders down payment options, Florida FHA mortgage lenders will continue to encourage Florida home ownership, provide liquidity and stability to the mortgage market.

The following Florida FHA mortgage link will allow you to enter your zip code for a list of eligible properties:  FOR FLORIDA FHA MORTGAGE LOAN LIMITS CLICK HERE.

FHA MORTGAGE LENDERS SERVING EVERY CITY AND COUNTY IN FLORIDA