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Mindy Richards' Blog

By Mindy Richards | Agent in Tampa, FL

TOP TEN REASONS FLORIDA MORTGAGE APPLICANTS GO FHA?

TOP TEN REASONS FLORIDA MORTGAGE APPLICANTS GO FHA?

Ten Reasons To Go FHA When Buying a Florida  Home

1. 100% Gift from relative allowed for Florida FHA mortgage applicants Down Payment (3.50% Requirement)

2. First time Florida mortgage applicants need Minimal Cash Reserves Required

3. 6% Seller or Florida mortgage Lender Contribution toward Closing Cost

4. Alternative Credit and NO credit Florida mortgage approvals Allowed Even After Bankruptcy

5. Easy FHA Mortgage Qualifying Ratios 31/43 or higher with compensating factors

6. Anyone is eligible for FHA even buyers after a Foreclosure or Florida Bankruptcy.

7. Non-Occupying Co-Borrower is OK

8. FHA Streamline Refinance Available

9. Assumable After 2 Years

10. Closed Loan and Earned Real-Estate Commission

For More Information on FHA Loans in Florida Visit: http://www.florida-mortgage-lenders.com

THE FHA RESOURCE CENTER at HUD.GOV

FLORIDA FHA MORTGAGE LOANS HAVE MANY HOME BUYER ADVANTAGES

FHA LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING COST:

  • Down payment only 3.5% of the purchase price. 
  • Gift's and Grants for down payment and closing costs OK! 
  • Seller can credit up to 6% of sales price towards buyers costs. 
  • No reserves or future payments in account required.
  • FHA regulated closing costs.

FHA MORTGAGES HAVE EASIER CREDIT QUALIFYING GUIDLINES SUCH AS:

FHA 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. 

 

·          APPLY NOW

·         (Click here) To view more detailed FHA qualifying requirements.


BENIFITS OF FHA MORTGAGE REFINANCING A FLORIDA MORTGAGE 

FHA CASH OUT REFINACE UP TO 85% LTV- LOAN TO VALUE 

  • FHA Cash out up to Consolidate first and second Florida home loans into a single FHA mortgage. 
  • FHA refinance to bill consolidate higher interest debt.
  • Easier credit and income qualifications. 
  • FHA mortgages have regulated closing costs.

FHA REFINANCE YOUR RATE AND TERM UP TO 96.5%:

  • FHA refinance to consolidate first and second mortgages into a single FHA loan. 
  • No credit score required no credit score refinancing options with proof of timely payments.
  • Better FHA mortgage rates for loan applicants with a Bankruptcy older than (2) two years. 
  • Better FHA rates for borrowers with a Foreclosure older than (3) three years. 
  • Easier credit and income qualifications. 
  • FHA regulated closing costs.

FHA STEAMLINE REFINANCE AN EXSITING FLORIDA FHA MORTGAGE

  • No out of pocket cost for FHA mortgage refinance interest rate reductions programs. 
  • No income or FHA credit qualifications. 
  • Zero FHA loan closing out of pocket refinance options available. 
  • Easily switch lower interest or amortization schedule from adjustable to fixed or vice verse. 
  • Use FHA refinancing to easily shorten or lengthen term of your existing Florida mortgage.
  • Easier credit and income FHA loan qualifications.

FLORIDA FHA REVERSE MORTGAGES TO ELIMINATE PAYMENTS: 

  • Current Florida homeowners age 62 years or older and have allot of equity in your Florida home you maybe able to refinance your existing Florida mortgages and rid yourself of monthly mortgage payments. 
  • View current FHA loan reverse FHA mortgage refinance guidelines.

Florida-Mortgage-Lenders.com

 

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MORTGAGE NEWS , APPLY NOW

 

“NO CREDIT SCORE FLORIDA MORTGAGE LENDER”

“FLORIDA MORTGAGE LENDERS- BAD CREDIT - MIN 580 FICO”

“FLORIDA FHA MORTGAGE REFINANCE +MIN 530 FICO+”

“BAD CREDIT FLORIDA MORTGAGE LENDERS ”

“FLORIDA MORTGAGE LENDER FIRST TIME HOMEBUYER LOANS”

No credit Florida Mortgage Lender               

“FLORIDA MORTGAGE LENDERS + FLORIDA MORTGAGE PROGRAMS”

“MANUFACTURED FHA MORTGAGE LOAN FLORIDA”

“Finding FLORIDA Mortgages With Bad Credit = NO PROBLEM”

“BAD CREDIT FLORIDA MORTGAGE!!!LENDERS”

“FLORIDA MORTGAGE PROGRAMS++FIRST TIME HOMEBUYERS++”

“NO CREDIT SCORE FLORIDA MORTGAGE+NO CREDIT FLORIDA HOME LOANS”

“FLORIDA FIRST TIME HOME BUYER MORTGAGE PROGRAMS:”

“FLOIDA MORTGAGE LENDER- Providing FHA , VA , NO CREDIT, BAD CREDIT , PURCHASE OR FLORIDA FHA MORTGAGE REFINANCE FLORIDA HOME”

“FHA Mortgage Miami Florida- Miami Florida FHA Mortgage Lender”

“Bad Credit FLORIDA Mortgage LENDERS 97%Financing with a 580 Credit Score!”

“FLORIDA HARD MONEY MORTGAGE LENDERS=ALL FLORIDA”

“BAD CREDIT FLORIDA FHA MORTGAGE LENDERS MIN 580!!!!”

“FHA Mortgage Miami Florida- Miami Florida FHA Mortgage Lender”

FHA MORTGAGE REFINANCE FLORIDA

“BAD CREDIT FLORIDA MORTGAGE::BAD CREDIT FLORIDA HOME LOAN”

BAD CREDIT MORTGAGE LENDER

“FLORIDA FHA MORTGAGE LENDER DOWN TO 580:: FLORIDA FHA HOME LOAN”

“FHA MORTGAGE ADVANTAGES FOR FLORIDA MORTGAGE APPLICANTS”

FHA Mortgage Loans – Qualifying for a Florida Home using a FHA Loan”


MORE GREAT REASONS TO TAKE ADVANTAGE OF THE FHA MORTGAGE

  •  BAD CREDIT FHA MORTGAGE APPLICANTS-The FHA loan program exists to expand the pool of Florida home buyers. Even low credit score FHA loan applicants with prior troubles get approved for an FHA home loan every day. FHA loan applications with chapter 13 bankruptcies that can prove a 12 month timely payment history get pre approved. FHA loan applicants that suffered from a chapter 7 must wait 24 months after discharge to qualify. Even homeowners with past foreclosures more than 36 months old or 3 years old can qualify but a Florida in every Florida city and county. The FHA mortgage will always relies  more on recent  payment history rather than credit score.
  • FHA MORTGAGE ALLOW FOR EASIER QUAIFYING–Florida home buyers will find the FHA loan is the last stop to qualify for a decent Florida home loan. Meaning if you don’t qualify for FHA you probably wont qualify for any other Florida mortgage program. The FHA loan insures private Florida lenders against loss for loans made to properly qualified Florida home buyers and owners. So regardless to say you're likely to find FHA mortgage loans with terms and conditions easier for you to qualify.
  • FHA MORTGAGE HAS LOWER LOAN COST- FHA loan rates are extraordinarily competitive. FHA's lower risk to the Florida mortgage lender means a better rate for the FHA loan applicant.
  • FORECLOSURE AVOIDANCE FOR FLORIDA HOMEOWNERS- Safeguards For Florida homeowners that Fall behind - The FHA loan also allow the lender more options in helping FHA mortgage borrowers who fall behind keep their homes are get current on the payment. FHA loan provide special protections that no other loans provide including: special forbearance, workouts, even free FHA mortgage counseling. In addition, 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 current for you. These FHA loan  protections allow Florida borrowers to save their home. You'll never find these foreclosure avoidance programs from a conventional home loan! In an uncertain world, this is another excellent reason for you to take advantage of the FHA home loan.
  • FHA MORTGAGE LOANS FOR MANUFACTURED FLORIDA HOMES-Under certain conditions, you can even FHA finance a Florida manufactured home and land package built before after 1977. These land home packages include mobile or modular home loan financing or using a Florida FHA mortgage loan. 
  • FHA MORTGAGES  ARE FULLY ASSUMABLE FOR FLORIDA HOMEBUYERS-When you are ready to sell your Florida Home, you can offer other Florida home buyers FHA financing! All FHA loans can be assumed by qualified home buyers.

Comments

By Stephanie Leon PA 786-574-3928,  Sun Jan 13 2013, 15:43
Great post. Thanks for sharing.
 
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