Your Source for Florida FHA Home Loans
FHA home loans are an attractive mortgage solution for a purchase or refinance a Florida because today’s FHA mortgage rates are near historic lows. The guidelines for FHA Home loan are also flexible allowing more people to qualify. Whether you have had credit issues in the past or are simply looking to limit your down payment to 3.5%, an FHA mortgage loan might be an ideal home financing solution.
What is an FHA Mortgage loan?
FHA stands for Federal Housing Administration (FHA) which is a governmental agency created in 1934 to improve housing standards and promote homeownership. The FHA insures your loan, making the loan less risky for your Florida Mortgage lender, and allowing us to offered you better terms. All of the us are Florida FHA experts, so you can have confidence putting your Florida home loan the best.
FHA Home Loan Options
There are several FHA mortgage loan options for your next Florida home purchase, including (*terms and conditions subject to change without notice):
- FHA Purchase loan – If you are buying a Florida home, your down payment can be as low as 3.5% of the price of the Florida home. FHA also allows seller concessions up to 6% of your Florida home purchase price.
- FHA Refinance loan – Refinance a Florida up to 97.75% of your Florida home value. The FHA will allow up to 85% cash-out, the highest amount of any our Florida home loan programs.
- FHA Debt Consolidation loan – If you are swamped high interest debt with too many monthly payments including credit cards, personal loans, car payments, 2nd liens, and other debts – now may be the best time to FHA refinance and consolidate your high interest debt into a single FHA mortgage payment using the FHA loan program. Your single, consolidated payment may be much lower than the total amount of individual payments you are making now. Plus, the you save on your FHA home loan is interest may be tax deductible (consult your tax advisor).
- Streamline Refinance Your FHA Mortgage – Do you already have an FHA home loan? If yes, you may qualify for FHA refinancing to allow a lower rate and lower monthly FHA Mortgage payment. Best of all, there is very little paperwork involved and no new home appraisal is required.
- FHA Manufactured and Mobile home loans – There are FHA mobile home loans available for Florida mobile homes and Florida manufactured homes.
- FHA 203K Rehabilitation Loans – Use this FHA fixer-upper loan as a creative solution for Florida homebuyers to purchase or refinance a residence who plan on rehabilitating the property.