www.Florida-Mortgage-Lenders.com 
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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!

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


BOCA RATON FLORIDA FHA MORTGAGE ADVANTAGES

0. FHA Mortgage Lenders Info BOCA RATON FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:

• Boca Raton 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.

BOCA RATON FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:

• Purchase a Boca Raton Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Boca Raton 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.
• Boca Raton Bad credit Florida FHA mortgage approvals minimum FICO credit score of 500 required for 90 FHA financing.
• No Credit Score Florida mortgage loans & No Trade Line Florida FHA home loans.

BOCA RATON 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.

FLORIDA FHA MORTGAGE SUMMARY OF KEY POINTS – 

  • FHA Loans Are Easier To Qualify For- The Federal Housing Administration (FHA) insures FHA mortgage loans against default as a way to help first-time home buyers, as well as lower and middle-income citizens. Unlike traditional mortgages, FHA loans require lower down payments and easier credit requirements to secure a loan. In fact, FHA mortgages now make up nearly a third of all new purchase mortgages in America. Get Started Now!
  • FHA Loans For Less Then Perfect Credit- Less than prefect credit is not an problem with FHA mortgage lenders because under the right circumstances FHA mortgage lenders can manual underwrite and FHA loan down to +500 credit score.  you can qualify down to a 500+ Fico score!
  • FHA Mortgage Lenders For First Time Home Buyers- For the last 10 years, Florida Mortgage Lenders.com has served Florida as one of the top Florida FHA Mortgage Lenders. We’ve helped residents secure Florida FHA loans in every city and county in Florida. Buying or refinancing a home can be tricky, but we are here to help. Imagine a streamlined, stress-free Florida mortgage approval process. Click here to learn why the FHA mortgage is so popular with Florida first time homebuyers!
  • FHA Mortgage for Homebuyers And Move Up Buyers– The fact is, you do not have to be a first time homebuyer to qualify for an FHA mortgage. But, you typically you cannot have more that 1 FHA mortgage at a time unless you are moving closer to work or had and increase in family size!
  • FHA Streamline Refinance is an Easy Fast Way To Lower Your Mortgage Payments With the FHA streamline mortgage program, so long as your mortgage payments have been on time for the prior 12 months, you can inexpensively take advantage of any improvements in market interest Rates. Even if you had a “payment” bump in the road, you can still possibly qualify for a FHA streamline mortgage refinance with the right circumstances.
  • Florida FHA mortgage applicants can apply now to get pre approved online! Florida Mortgage requirements are always changing, and Florida homebuyers can count on  Florida Mortgage Lenders.com to provide up-to-date information support. In addition, we are one of Florida most active and experienced Florida mortgage lenders. With so many options out there, our job is to help you make the best decision for you. We make the FHA application process easy to understand and are always here to answer questions. Our website is also packed with information for you to browse. Our secure mortgage application is available online when you’re ready to apply for a mortgage and we will even call you to start the process.

Manual Underwriting Florida Mortgage Lender Approvals!

When the Florida Manual Underwriting Mortgage Lenders mortgage applicants information is  entered into what’s called an Automated Underwriting System, or AUS. This is basically a computer program that helps streamline the Florida Manual Underwriting Mortgage Lenders mortgage application process and let lenders know at the outset whether a borrower will meet credit and income requirements. Florida Manual Underwriting Mortgage Lenders mortgage loan applications that receive an Automated Underwriting System approval can allow lenders to proceed with fewer paperwork and documentation needs.

But there are certain circumstances that can shock an application to a Refer/Eligible that requires Florida manual underwriting. Examples include:

  • Foreclosure, short sale or deed-in-lieu of foreclosure
  • A lack of credit depth or history
  • A bankruptcy in the last 24 months
  • Default or delinquency on federal debt
  • Late mortgage payments

A Florida Manual Underwriting Mortgage Lenders mortgage application that gets bounced from the automated system may be eligible for a manual underwrite. All this basically means is that a human will have to review the file and  crunch the numbers and evaluate the risk. In addition, when facing a Florida manual underwrite you will likely need to meet tighter Florida Manual Underwriting Mortgage Lenders mortgage requirements when it comes to things like debt-to-income (DTI) ratio, residual income, derogatory credit, financial documentation and more.

We Provide Florida Manual Underwriting Mortgage Lenders mortgage manual underwrite approvals!

Florida Manual Underwriting Mortgage Lenders Manual Underwriting Mortgage Lenders (Please note that at least one “Yes” box must be checked to indicate the reason for the manual underwrite.)

 

Florida Manual UW Was the loan referred by an Automatic Underwriting System (AUS)?  Yes Automatic Downgrades to Florida Manual UW

Mortgage file contains information or documentation that cannot be entered into or evaluated by TOTAL Mortgage Scorecard?  Yes

Additional information, not considered in the AUS recommendation affects the overall insurability of the Mortgage?  Yes

Any late mortgage payments on a cash-out refinance within 12 months of the case assignment?  Yes

Mortgages reported on the credit report with more than 2x30 late pays within 12 months of the case assignment?  Yes

Mortgages not reported on the credit report with any delinquency within 12 months of the case assignment, or more than 2x30 late pays within 24 months of the case assignment?  Yes

Previous Mortgage Foreclosure, Short Sale, or Deed-in-Lieu (DIL) of Foreclosure within last 3 years from Case Assignment?  Yes

Chapter 7 or 13 Florida Bankruptcy discharged less than 2 years from date of loan application from Case Assignment?  Yes

Existing Disputed Accounts/Collections/Public Records (Excludes medical; includes Florida charge offs, collections, late payments in last 24 months; aggregate balance >=$1000)  Yes

Florida Business income shows a greater than 20% decline over the analysis period?  Yes

Potential Downgrades to Manual UW Authorized user account is only current tradeline  Yes

Multiple NSF’s on bank statements  Yes Mortgage lates not reporting (includes private notes)  Yes

Judgments appearing on prelim/title commitment/ judgment search but not on credit report  Yes

Mortgages extinguished through Florida foreclosure that have fallen off credit report or showing “unrated” instead of 8 or 9.  Yes

Florida Tax liens not showing on credit report  Yes

Florida Manually Underwritten loans require compensating factors to improve probability for loan approval. Conditions will apply to substantiate the factors below.

FICO >= 580 FICO < 580 (and Non-Traditional/Insufficient) Housing/Total Debt Ratios 31/43 or 37/47 or 40/40 or 40/50

31/43 Max Debt Ratio # Comp Factors None 1 No Discretionary Debt 2 None

 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 gift)

580 and above

·31/43

·Energy Efficient Homes may stretch ratios to 33/45

·         One month in reserves for 1-2-unit properties and three months in reserves for 3-4-unit properties (cannot be a gift)

580 and above

37/47

Must have one of the following:

· months reserves for 1-2 units and 6 months in reserves for 3-4 units (cannot be a gift)

·Housing shock the lesser of $100 or 5%

·Residual Income

580 and above

40/50

Must have two of the following:

·3 months reserves for 1-2 units and 6 months in reserves for 3-4 units (cannot be a gift)

·Housing shock the lesser of $100 or 5%

·Residual Income

·Verified and documented significant additional income that is not considered effective

 

 

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.