if you'd like any more information and help figuring out the world of FHA and lending, give us a call, we'll be happy to help: 1-800-801-6080 ( deirect line) or email at firstname.lastname@example.org
Faith Home Loans
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Then there is the FHA rehabilitation loan which you can use for repairs or just improvements and roll everything into the loan provided you are getting the property for a very good value in the first place. If you buy certain HUD owned properties, we can offer $100 down FHA. That is correct, $100 down.
In addition to FHA,, there is also up to 95% financing for first time home buyers on conventional loans. And finally, you can also get a Fannie REO for only 3% down and get Fannie to pay up to 3.5% on closing costs.
As you can see there are many choices. We specialize in the South Florida area. Give me a call to discuss your options.
Florida Mortgage Coach
Also, if the place needs work, you can't go with a standard FHA, it will need to be an FHA 203k which helps pay for repairs.
Also important to pay attention to is that most condos are NOT FHA approved and the REO bank won't help you get it approved.
Interview real estate agents and find someone that knows their stuff.
Also, make sure you get preapproved for the mortgage before searching.
I am happy to help since I am licensed in FL.
U S Loans Mortgage LLC