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Michelle Miller's Blog

By Michelle Miller | Property Manager in Florida

FHA home loans Florida- ::FHA mortgage refinance :: www.FHAmortgageFHAloan.com

FHA home loans Florida- ::FHA mortgage refinance :: www.FHAmortgageFHAloan.com
The Department of Housing and Urban Development HUD is the federal agency responsible for national policy and FHA mortgage programs that address Florida’s housing needs. The Federal Housing Authority FHA which is part of the (HUD) plays a major role in supporting homeownership by underwriting homeownership needs for Florida homebuyers and homeowners. FHA home loans assist first-time Florida home buyers and other homebuyers who might not be able to meet down payment requirements for conventional home loans by providing FHA mortgage insurance to private Florida FHA mortgage lenders. Florida FHA loan applicants who have a satisfactory credit record, enough cash to close the FHA loan, and sufficient steady income to make monthly mortgage payments can be approved for a Florida FHA-insured mortgage loan. To get a FHA insured loan, all you need to do is apply at www.FHAmortgageFHAloan.com

FHA-insured home loans are available in urban and rural areas for single family Florida  homes, for 2-unit, 3-unit, and 4-unit homes and for FHA approved condominiums in Florida. Interest rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans. FHA Down payments can be as low as 3.5 percent, and closing costs can be paid for by the Florida home seller up to 6%.

With an FHA-insured mortgage, you can make extra payments toward the principal when you make your regularly monthly payment. By making extra FHA mortgage payments, you can repay the loan faster and save on interest. You can also pay off the entire balance of your FHA-insured mortgage anytime in Florida..

The FHA section 203(b) is the most frequently used FHA mortgage program used in Florida. You may use this program to purchase a new or existing one- to four-family Florida homes, including Florida manufactured homes, in both urban and rural areas. A section 203(b) fixed FHA mortgage may be repaid in monthly payments over 10, 15, 20, 25, or 30 years.

The FHA section 234(c) provides mortgage insurance for buyers who wish to purchase a unit in an FHA approved condominium project. The Florida condominium may consist of more than one building, such as a group of row apartments, high-rise buildings, townhouses, or any combination of these structures. Any Florida condominium project must be approved by (HUD).

In some cases, (FHA ) insures loans (section 237 loans) for people who have had credit trouble and do not meet standard credit requirements to buy low cost Florida homes mortgage loans.

(FHA) also insures Florida home loans for home improvements -- 203(k) loans. Section 203(k) Florida mortgages allow you to purchase or refinance and rehabilitate a Florida home at least 1 year old. A portion of the FHA loan proceeds are used to pay off the existing Florida FHA mortgage, and the remaining mortgage funds are placed in an escrow account and released as rehabilitation is completed. The improvements financed with Section 203(k) mortgage proceeds must comply with (HUD's)Minimum Property Standards and all local codes and ordinances in Florida.

FHA Rehab home loans for a Florida Home with (HUD's) 203(k) Programs Detailed description and eligibility requirements. 203(k) Program Description.

All the FHA mortgage  programs in Florida operate through (FHA) which submit borrower's applications thru FHA approved mortgage lenders. Apply for an FHA home loan in Florida at www.FHAmortgageFHAloan.com

Florida FHA mortgage lenders Serving These Fine Florida Communities:

Arcadia :: Boca Raton :: Boynton Beach :: Bradenton :: Brandon :: Cape Coral :: Clearwater :: Clewiston
Crestview :: Daytona Beach :: Deerfield Beach :: Deland :: Delray Beach :: Deltona :: Destin :: Englewood
Fort Pierce :: Ft. Lauderdale :: Ft. Myers :: Ft. Walton Beach :: Gainesville :: Hollywood :: Homosassa Springs
Jacksonville :: Key West :: Kissimmee :: Lake City :: Lakeland :: Lynn Haven :: Marathon :: Marco Island
Melbourne :: Miami :: Miami Beach :: North Fort Myers :: North Miami Beach :: Naples :: Ocala :: Okeechobee
Orlando :: Ormond Beach :: Osprey :: Palatka :: Palm Bay :: Palm Beach :: Palm Coast :: Panama City :: Pensacola
Pompano Beach :: Port St. Lucie :: Punta Gorda :: Santa Rosa :: Sarasota :: Sebastian :: Sebring :: Springhill
St. Augustine :: St. Petersburg :: Tallahassee :: Tampa :: The Villages :: Titusville :: Venice :: Vero Beach
Wauchula :: Wesley Chapel :: West Palm Beach :: Winter Park

Serving These Fine Florida Counties:

Alachua :: Baker :: Bay :: Bradford :: Brevard :: Broward :: Calhoun :: Charlotte :: Citrus :: Clay :: Collier
Columbia :: Dade :: DeSoto :: Dixie :: Duval :: Escambia :: Flagler :: Franklin :: Gadsden :: Gilchrist :: Glades
Gulf :: Hamilton :: Hardee :: Hendry :: Hernando :: Highlands :: Hillsborough :: Holmes :: Indian River :: Jackson
Jefferson :: Lafayette :: Lake :: Lee :: Leon :: Levy :: Liberty :: Madison :: Manatee :: Marion :: Martin :: Miami-Dade
Monroe :: Nassau :: Okaloosa :: Okeechobee :: Orange :: Osceola :: Palm Beach :: Pasco :: Pinellas :: Polk
Putnam :: Saint Johns :: Saint Lucie :: Santa Rosa :: Sarasota :: Seminole :: Sumter :: Suwannee :: Taylor :: Union
Volusia :: Wakulla :: Walton :: Washington

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