Why choose an FHA-insured loan?
There are lots of good reasons why Florida homebuyers chose an FHA-insured loan over a conventional or risky subprime home loan, especially if one or more of the following apply to you:
You’re a first-time homebuyer. You don’t have a lot of money to put down on a house. You want to keep your monthly payments as low as possible. You’re worried about your monthly payments going up. You’re worried about qualifying for a loan. You don’t have perfect credit. Apply for a Florida FHA loan NOW! www.FHAmortgagePrograms.com Florida FHA 30 year Fixed Rate Mortgage FHA Fixes Benefits For First-time Homebuyers
FHA loans benefit Florida homebuyers who would like to purchase a home but haven’t been able to save enough money for the purchase: like recent college graduates, newlyweds, or people who are still trying to complete their education. It also provides financing for Florida mortgage applicants whose past credit has been damaged by bankruptcy or foreclosure to easily qualify for an FHA mortgage.
FHA loans for borrowers with past Credit Issues FHA Wants You To buy a Florida home
Past credit trouble does not have to deter your FHA loan approval. Florida FHA mortgage lenders will analyze your credit history to determine your eligibility for the FHA loan you seek. If you have made timely payments in the past, but your currently demonstrating your willingness to repay future credit obligations. However, if your past credit history shows continual slow payments, judgments and delinquencies, you now qualify for Florida FHA loan approval.
Protection: Florida FHA Mortgage Insurance
Florida Mortgage insurance protects Florida mortgage lenders against any loss that may result from defaults on Florida mortgage loans. FHA mortgage insurance is “protection” for Florida lenders who risk funds to lender to Florida mortgage applicants with less than perfect credit.
Florida FHA loans for Condominium (s)
Florida FHA Condominium Loans are geared toward Florida mortgage applicants those who purchase housing units in a condominium building. Condominium ownership, in which separate owners of individual units jointly own the development’s common areas and facilities, is for some a very popular alternative to home ownership. FHA mortgage Insurance for this type of housing is provided through FHA Section 234C. This FHA insurance is very important for low and moderate-income Florida renters who wish to avoid the risk of being displaced when their apartments are converted into Florida condominiums.
The Federal Housing Administration has insured over 35 million home mortgages and 47,205 multifamily project mortgages since 1934. Currently, FHA has 4.8 million insured single-family mortgages and 13,000 insured multifamily projects in its portfolio.