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KellyBurnhart's Blog

By KellyBurnhart | Broker in Cape Coral, FL

Broward, Fort Lauderdale, Hollywood, Miramar, Davie FHA loan, Broward FHA home loan 97% financing

Broward, Fort Lauderdale, Hollywood, Miramar, Davie  FHA loan, Broward FHA home loan 97% financing

FORT LAUDERDALE FLORIDA FHA MORTGAGE LENDERS

HOLLYWOOD FLORIDA FHA MORTGAGE LENDERS

MIRAMAR FLORIDA FHA MORTGAGE LENDERS

DAVIE FLORIDA FHA MORTGAGE LENDERS

HOLLYWOOD FLORIDA FHA MORTGAGE PROVIDERS

FHA MORTGAGE | FHA REFINANCE |  FHA NO CREDIT | BAD CREDIT | CONDOS | LIMITS

The FHA mortgage allows Hollywood, Florida first time home buyers and current Hollywood Florida homebuyers to buy a Hollywood Florida home with less than 3.5% down payment and less than perfect credit. Or current Hollywood Florida home owners can FHA mortgage refinance up to 97.75% their Hollywood home value. Additional advantages of the FHA mortgage include:

 FHA MORTGAGE- FLORIDA HOME BUYER ADVANTAGES

BAD CREDIT FLORIDA MORTGAGE

FHA Loans for Buying a Florida Home or FHA Refinance Mortgages 

1STARTNOW

www.Florida-Mortgage-Lenders.com

 Broward FHA Loans make buying a home easier and less expensive then other types of home loan programs.

Broward, Fort Lauderdale, Hollywood, Miramar, Davie  FHA loan, Broward FHA home loan 97% financing

FORT LAUDERDALE FLORIDA FHA MORTGAGE LENDERS

HOLLYWOOD FLORIDA FHA MORTGAGE LENDERS

MIRAMAR FLORIDA FHA MORTGAGE LENDERS

DAVIE FLORIDA FHA MORTGAGE LENDERS

HOLLYWOOD FLORIDA FHA MORTGAGE PROVIDERS

MANUFACTURED HOME LOAN FLORIDA

(FHA) MANUFACTURED HOME LOANS FLORIDA GUIDELINES

• 96.5% Purchase financing.

• Minimum credit score of 530.

• Minimum Loan Size on Manufactured Housing is $70,000

• No Single wides

• Foundation must meet FHA/HUD’s Permanent Foundation Guides (1996)

• Must provide Engineer’s Cert on foundation. (stamped and signed)

• Home cannot have been previously installed at another location (this does not include model homes that were installed on the dealers lot)

• Maximum AGE of Manufactured Home – 20 years

• SEE FULL LIST OF FLORIDA FHA MANUFACTRUED HOME GUIDLINES. 

FLORIDA MANUFACTURED HOME LOAN HIGHLIGHTS

• Purchase – for as little as 3.5% down you can own a Florida manufactured home. Credit quality, loan affordability and manufactured home  type will ultimately determine the required down payment and reserve requirements.

• Cash out Refinance – Cash out refinance your land and manufactured home package up to 85% of the current appraised value.

• Rate and term Refinance- Change the rate or term of your Florida manufactured home up to 97.75% of the manufactured homes FHA appraised value.

• Closing Costs – Sellers can contribute up to 6% of the Florida homes sales price to cover your closing cost and pre-paids.

• No Application Fees – We provide no fee Florida manufactured home loan pre approvals without application fees. We are sure that you will find our Florida manufactured home loan application process and service top in the industry. We value your Florida mortgage business and expedite the process.

• No Prepayment Penalties – We offer 15 and 30 year fixed rate Florida manufactured home loans and you are free to pay off your Florida mortgage or refinance at any time without penalty.

• Fixed Mortgage Rates –We offering fixed rate Florida manufactured home loans so your mortgage payment will never fluctuate. No adjustable rates with variable payments or balloons mortgages to worry about.

• Interest Rates – Range from 3.5 to 5.5% fixed rate Florida manufactured home loans depending on overall credit quality, debt to income ratios, age of manufactured home, collateral type, loan amount and loan-to-value.

• Double Wide’s – 96.5% financing on double wide Florida manufactured homes.

• Loan Amount – Minimum loan amount required is $65,000 for Land and Home Florida manufactured home loans.

• Age of Manufactured Home – Must be built minimum 1976 or newer

• Escrow – is required for insurance and taxes included in your Florida mortgage payments.

• Terms – Florida mortgage increments from 15 to 30 years.

• FHA Mortgage Insurance – Is required on all our Florida manufactured home loans..

• Down Payments – 3.5% Down payment must be sourced from borrowers own funds or gift from family member.

How can I get pre-approved to purchase a Florida manufactured home? Either fill out the Florida mortgage application or call us directly at 954-667-9110

Broward FHA Loans

At one point and time many years ago, the FHA loan was the only alternative to local bank financing for home buyers. In the fashion world, there is a saying: Wait long enough, and everything comes back into style. That rule applies just as well to Broward Florida FHA mortgage program. Long-overlooked, the FHA mortgage is becoming popular again with Florida Home Buyers for its low rates and the real security it provides borrowers.

For Broward banks and other mortgage lenders, FHA mortgage loan financing offers the security of a government insured Mortgage. Win/Win! To learn more, call today at 1-800-570-0448 or just use our fast and easy quick application!

For first time Broward home buyers and other borrowers, the FHA home Broward loans can have key advantages:

Easy Qualification - The FHA Broward loan insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you're likely to find FHA mortgage loans with terms that make it easier for you to qualify.

Minimal Downpayment Requirements - FHA mortgages can work with as little as 3% down and those funds can come from a family member, charity, or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that your 1st Continental Mortgage Broward loan officer can point you to many Downpayment assistance programs that work well with Broward Florida FHA home loans.

Less than A-1 Credit is Okay - The Broward Florida FHA home loan program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage lates get approved every day for FHA mortgages to buy or Refinance homes in Hillsborough County or any of the other Florida counties we serve. The FHA loan program uses credit quality, not credit score!

Lower Cost Over the Life of the Loan - The Broward Florida FHA home loan rates are extraordinarily competitive. FHA's lower risk to the lender means a better rate for the borrower.

Safeguards for Borrowers Who Get Behind - The Broward Florida FHA loan mortgages also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, HUD can allow the lender to take past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you'll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an Broward FHA mortgage.

Options for Manufactured Housing - Under certain conditions, you can even finance a Mobile Home or manufactured home using a Broward Florida FHA mortgage loan. Call 1-800-570-0448 to get pre-approved for a Broward Florida FHA loan for manufactured housing or just use our quick application to learn more!

FHA Loans Are Fully Assumable - When you are ready to sell your home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.

These are just seven of the many good reasons to apply for an FHA mortgage. Call 1-800-570-0448 to speak with a friendly Broward Florida FHA loan specialist now!

The Broward FHA program has evolved since it started in 1934 and now has options for HUD insured loans that fit a variety of different borrowers and situations.

FHA Home Loans for Purchasing a Broward Florida Home

Although Florida FHA home loans require additional paperwork, the reality is that applying for an FHA mortgage loan in Broward Florida is not much different from applying for conventional financing. In fact, for many Broward borrowers the small amount of extra time turns out to be an exceptional Broward mortgage bargain because they save thousands of dollars over the life of their Broward Florida Mortgage.

At 1st Continental Mortgage, we have been working with the Broward FHA program for many years. We're experts at assembling the proper paperwork and presenting your loan application to Broward FHA approved lenders diligently and professionally. It's one of the ways that we have earned our reputation for closing Broward FHA home loans in BrowardFlorida on-time.

You may be surprised at how flexible sellers are in the current market and how many programs there are that provide Downpayment assistance to applicants for FHA financing to purchase Florida homes, condos, and townhouses. The fact is, seller can pay up to 6% towards your closing costs. This means, no closing costs for you when negotiated during the purchase contract!

The Broward FHA program offers excellent fixed rate options and never a prepayment penalty. If other mortgage lenders are quoting you subprime rates, you owe it to yourself to make the call to 1st Continental Mortgage to compare the costs of getting an FHA home loan for your home purchase. Call 1-800-570-0448 to speak with an FHA mortgage expert before accepting any conventional mortgage quote as the best you can do!

FHA Home Loans Offer the Convenience of Streamlined BrowardRefinance

An Broward FHA streamline refinance is one of the easiest home loans for Broward Mortgage Lenders and borrowers. Since HUD approved you for the original Broward FHA loan, the paperwork to refinance is minimal and the process is simple.

So long as you have made your Broward FL FHA loan mortgage payments on time for the previous 12 months, you can lower your monthly payment if interest rates go down with minimal out of pocket expense. Even if you have been late on your FHA mortgage, you might still qualify for an Broward FHA streamline refinance in Florida under very specific conditions.

Less documentation and no appraisal are just two of the reasons a FHA streamline refinance is cheaper and faster for the borrowers who qualify.

Broward FHA Mortgage Loan

Streamline Refinance Requirements

When your 1st Continental Mortgage lender helps you get a streamlined FHA refinance on your existing mortgage loan, he or she will make certain that you meet these conditions:

  • Your current mortgage must be an Broward FHA mortgage.
  • You must have had your FHA Mortgage for at least 6 months.
  • You must have paid your mortgage on time for the most current 12 months.
  • Your FHA Streamline Refinance must lower the principal and interest portion of your mortgage payment by at least $50 or convert the mortgage from an ARM to a fixed rate Broward FHA home loan.
  • You can't get cash out on the FHA streamline refi.
  • You must have an Broward FHA appraisal if you are rolling the closing costs into the FHA streamline refinance.
  • Any existing liens on your Florida home must be subordinate to the new FHA mortgage.

Broward FHA Mortgage Loan Refinance

Programs for Cashing Out Equity

Although a streamline refinance does not allow you to cash out equity, we have a FHA loanrefinance program that is specifically designed for borrowers who want to cash out equity to consolidate debts, make home improvements or to access funds for other purposes.

Unlike many conventional loan programs, the Broward FHA mortgage does not adjust the rate based upon loan to value or credit score. You will find the FHA has very reasonable underwriting guidelines for cash out refinancing.

We have helped many clients borrow up to 85% of the appraised value of their homes and use the funds to consolidate debts or to make home improvements and other purposes. Qualified borrowers will have to look hard to find lower rates and better terms than they can get on Florida FHA cash out refinance right now!

Call 1st Continental Mortgage today at 1-800-570-0448 or use our quick application to apply for an FHA refinance on your home in Sumter County or any of the other Florida counties we offer FHA mortgages in.

Broward FHA Home Loans For Mobile Homes with Land

Although some conventional lenders in Florida shy away from making a loan on Mobile Homesor manufactured homes, many Broward FHA mortgage loan lenders do not.

In fact, mobile homeowners fortunate enough to connect with a Florida mortgage lender, who is well schooled in how FHA loans work for mobiles and manufactured homes, can get a better interest rate, better terms, and a lower monthly payment by going FHA in nearly every case.

If you're shopping for financing to buy a Broward mobile or manufactured home on land in Sumter County or any of the other 66 counties in Florida that we serve, call 1-800-570-0448 and let us give you a quote for an FHA mortgage loan to purchase your mobile or manufactured home.

It only takes a few minutes to get an Broward FHA loan mortgage quote on your Florida mobile home. We'll wager that the savings on your monthly mortgage payments will make it some of the highest paid work you've ever done.

Few people realize that the Broward FHA loan uses the same underwriting criteria for single and double wide mobile homes and manufactured housing as it does for traditional site built block or stick homes. In addition, FHA is one of the very few programs that can offer up to 97% financing on mobile homes on land. In addition, did you know that the seller can contribute up 6% toward your closing costs on an FHA mobile home loan and that down payment assistance can be used in Florida? It's true! You could package your mobile home financing to create a real no money down loan with unbelievably low rates.

Call 1-800-570-0448 or use our secure online quick application for a free no obligation quote on financing your manufactured or mobile home using an FHA mortgage loan.

Broward FHA Mobile Home Lending Guidelines

The Department of Housing and Urban Development (HUD) sets forth these guidelines for determining if a mobile or manufactured home qualifies for an FHA mortgage loan inBroward Florida:

  • The mobile or manufactured home must be constructed in accordance with the Federal Manufactured Home Construction and Safety Standards. A red tag is attached to the rear of each section of homes that comply with the standards.
  • The home must be taxed as real estate by the local tax assessor's office.
  • The mobile or manufactured home must have been built after June 15, 1976.
  • The mortgage must have a term of at least 30 years from when amortization begins.
  • The mobile home or manufactured home must be on a permanent foundation.
  • The axles and tongue must be removed from the mobile or manufactured home.
  • The mobile home or manufactured home must have adequate skirting and insulation, and the crawl space must have adequate ventilation.

If you would like to determine if your mobile or manufactured home meets the guidelines for section 184 financing from FHA, call one of our Florida mortgage pros at 1-800-570-0448. We'll be glad to help you determine if the property that you are interested in can be used as collateral for an FHA mobile home mortgage.

FHA 203k Mortgages For Broward Florida Homeowners Making Home Improvements

The FHA 203k loan program is nothing more than a specialized FHA home loan designed to help homeowners make home improvements. It is especially popular in neighborhoods with properties in need of rehabilitation.

The FHA 203k loans work in Florida communities in much the same way as Construction loans for home improvement. Eligible borrowers can use the proceeds from these mortgage to renovate and improve their primary residences.

Qualifying for a 203k FHA mortgage uses the same guidelines as a standard FHA mortgage for the purchase of a Florida home.

Target Borrowers for Broward FHA 203K Mortgages

This specialized FHA mortgage is for Floridians who wish to buy a home that needs repairs or renovations. Just as is the case with a conventional construction loan, a single FHA 203k loan covers both purchase of the Florida real estate and renovation. FHA 203K financing can be used to purchase a property on a site and move it to a new foundation on the mortgaged property and rehabilitate it.

In addition, Florida homeowners can also use a 203k FHA mortgage to refinance existing debt when they finance one or more home improvements using the FHA 203k mortgage program.

Many borrowers are finding out what a good deal a Broward Florida FHA home loan really is. Call 1-800-570-0448 today or simply use our quick application to find out more!


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