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FHA – VA – Bad Credit – No Credit – Credit Repair

US Mortgage Lenders is committed to providing clients with the highest quality financial services, combined with the lowest rates available. Our mortgage originators will work with you one-on-one to tailor a financial solution that is specifically suited to meet your financing needs. Whether you are first time home buyer, refinancing an current  loan, or consolidating debt, our highly experienced mortgage team can help you find the right loan program at the lowest rate, no matter what your needs are.

FHA MORTGAGE MENU INCLUDES:

• FHA MORTGAGE LENDERS- Min 3.5% down payment minimum 580 fico or 10% down with a 550 fico. Seller paid closing cost up to 6%. Gift from family OK!  FHA mortgage lenders have the ability to approve you to purchase a home 3 years after a foreclosure, 2 years after a chapter 7 bankruptcy and 1 year after a chapter 13 bankruptcy. Please Note- The 3 year waiting period after a foreclosure starts when the title/deed is transferred out of your name.

• VA MORTGAGE LENDERS- 100% VA loan financing with a minimum 550 credit score. Seller paid closing cost up to 4%. Qualify for a VA 100% mortgage using VA certificate of eligibility or/and DD214 waiting only 2 years after a foreclosure or bankruptcy.

• BAD CREDIT MORTGAGE LENDERS- We get borrowers approved every day to purchase a mortgage with a bad credit past. FHA mortgage and VA mortgage and private bad credit approvals are among the easiest loan programs for bad credit mortgage applicants.

• JUMBO BAD CREDIT MORTGAGE LENDERS- Your mortgage amount exceeds the current conforming home loan limit of  $424,100, a Jumbo loan is likely the best choice for you. Jumbo loans can be of the fixed or adjustable variety. 

• NO CREDIT MORTGAGE LENDERS- We get borrowers approved every day to purchase a home using and building a payment history using nontraditional trade lines including payment history from electric, cell phone, insurance and rental payment history.

• BANK STATEMENT ONLY MORTGAGE LENDERS – For self-employed that do not show enough income to qualify for a bank mortgage. Must be self-employed for a minimum 2 years. Must have trade lines for 12 months on the credit report. Transfers from business account OK! All persons listed on bank statements must be used on the loan application. No tax returns required. 24 months personal bank statements used to qualify. Up to 90% of the purchase price up to 50% DTI. No seasoning after a short sale or and  2nd homes and investment properties purchase or refinance is OK!.

• STATED BUSINESS MORTGAGE LENDERS – Business Purpose Loans for an investor to purchase. Use 100% of Rest utilized in DCR computation. Business investor loans with Credit Scores down to 600 Can close in name of LLC Loan amounts from $100,000 to 1 Million 75% maximum LTV for purchase transactions 70% maximum LTV for refinance transactions No reserves required, Interest Only terms available

• PORTFOLIO MORTGAGE LENDERS- Purchase 1 day our of Foreclosure, Short-Sale, Bankruptcy down to a 500 credit score. Loans up to 1 million with credit scores down to 500. Up to 80% Loan To Value. 30 year fixed no prepayment penalty.

• NO CREDIT SCORE MORTGAGE LENDERS- Mortgage applicants with no credit score get approved every day to purchase a home loan with no credit score or lack of credit using alternate trade lines. 

• 30 YEAR FIXED RATE MORTGAGE LENDERS- The 30 year fixed rate mortgage is one of the most popular and secure options available for Florida home buyers and homeowners who want your monthly payments to be low and never change. 

• 15 YEAR FIXED RATE MORTGAGE LENDERS- If you’re looking to save thousands in interest expense and you want to own your home quicker versus a 30 year fixed rate mortgage, a 15 year fixed rate mortgage could be good for you. Plus, your payment and interest rate will never change during the term of this mortgage.

US MORTGAGE LENDERS  Is pleased to offer disciplined credit alternatives for  bad credit mortgage applicants who can demonstrate the ability to repay, but otherwise don’t meet agency guidelines due to various reasons, including:

Good Credit – Bad Credit – No Credit + No Problem + We work with everyone towards home ownership! Whether you’re a first time home buyer, moving to a new home, or want to FHA refinance your existing conventional or FHA mortgage, we will show you how to purchase or refinance a home using our stated mortgage program or bank statement only mortgage program.

When you decide to apply for a FHA home loan through FHA mortgage lender you need to know you’re dealing with experienced full-time mortgage lending professionals who know FL real estate. We offer a huge assortment of FL VA lenders including FHA, Conventional & Private mortgage programs built around Florida and Georgia home buyers and homeowners.

Whether you’re buying a first home using our great FHA mortgage program or refinancing a home you already own using traditional Florida mortgage financing, nothing helps more than having a seasoned Florida FHA mortgage lender working hard answer all your Florida FHA mortgage questions!

FHA MINIMAL DOWN PAYMENT AND FEES:

  • Down payment only 3.5% of the purchase price, down payment assistance and closing costs OK!
  • Sellers can credit the buyer’s up to 6% of sales price towards buyers costs and pre-paid.
  • No reserves or future payments in account required.
  • FHA regulated closing costs.
  • Read more about buying a home with an FHA mortgage Bad Credit No Credit – FHA Guidelines –Debt To Income Limits 

FHA IS EASIER TO QUALIFY:

  • 12 months after a chapter 13 Bankruptcy FHA mortgage Lender approvals!
  • 24 months after a chapter 7 Bankruptcy FHA mortgage Lender approvals!
  • 3 years after a Foreclosure FHA mortgage Lender approvals!
  • No Credit Score FHA mortgage Lender approvals!
  • 580 required for 96.5% financing or 3.5% down payment FHA mortgage Lender approvals.
  • 500 required for 90% financing or 10% down payment FHA mortgage Lender approvals.
  • Bad Credit with minimum 500 FICO credit score with 10% Down Payment FHA. 

FHA OK WITH HIGHER DEBT EASIER QUALIFYING:

  • FHA allows higher debt ratio’s than any conventional mortgage loan programs.
  • Less than (2) two years on the same job is OK!
  • Self-employed buyers can also qualify with FHA Mortgage Lenders.
  • Read More about Gifts For Down Payment – Documents Checklist – Debt To Income – Student Loans.
Regardless of your situation we work with EVERYONE to get them Pre Approved! We will counsel you FREE OF CHARGE until you qualify for a mortgage!

FHA MORTGAGE ALL PROPERTY TYPES:

  1. Single-family Homes
  2. Town House- check for lot and/or block legal descriptions.
  3. Villas- check for lot and/or block legal descriptions.
  4. Modular Homes
  5. FHA Approved condominium – Search Florida FHA Approved Condos

FHA MORTGAGE BENEFITS: The FHA mortgage is so popular is because Florida mortgage applicants use them are able to take advantage of benefits and protections unavailable with any other mortgage loan program. Loans through the FHA are insured by the government, so the Florida mortgage lenders that approve these loans are more lenient. The advantages outweigh any other mortgage program and include and include the following:

  • Lower Cost & Fees- In addition to lower interest rates, FHA borrowers enjoy lower costs on other fees like closing costs, FHA mortgage insurance and  govt regulated closing cost.
  • Easier to Qualify- While most mortgage loans prohibit applicants with bad credit history and low credit scores, the FHA mortgage loans available with lower requirements so its easier for you to qualify.
  • Lowest  Interest Rates- You’ve heard the horror stories of subprime borrowers who couldn’t keep up with their mortgage interest rates. Well, FHA loans usually offer lower interest rates to help homeowners afford housing payments.
  • Bankruptcy / Foreclosure- Even If you’ve filed for bankruptcy or suffered a foreclosure in the past few years doesn’t mean you’re excluded from qualifying for an FHA loan. As long as you meet other requirements that satisfy the FHA, such as re-establishment of good credit, solid payment history, etc., you can still qualify.
  • No Credit Score/ No Trade Lines OK! – The FHA usually requires two lines of credit for qualifying applicants. If you don’t have a sufficient credit history, you can try to qualify through a substitute form.

For many Florida FHA mortgage applicants, using an FHA mortgage can really make the difference between owning your dream house affordability and getting out of the never ending rental trap. The FHA mortgage provides a wealth of benefits for Florida mortgage applicants that qualify, so please make full use of them.

 

FHA BUYER QUESTIONS:

  • What is an FHA Mortgage loan? The FHA is a division of the Department of (HUD) Housing and Urban Development. An FHA mortgage loan is a mortgage that is insured by the Federal Housing Administration (FHA) and funded by private Florida FHA approved mortgage lenders.
  • Are FHA mortgage for first time home buyers only? NO, FHA mortgage loansare NOT for firsttime buyers onlyFHA loans can be used by first-timebuyers and repeat buyers alike. The FHA mortgage is often marketed as a product for “firsttime buyers” because of its low down payment and flexible qualifying requirements. FHA mortgage applicants can purchase an FHA approved investment property using and FHA mortgage loan. 
  • How Does The FHA Mortgage Insurance Work? Anyone who takes out FHA mortgage finances the mortgage insurance into the loan amount. This “Up Front Mortgage Insurance ” cost is called the “UFMIP”. The upfront mortgage insurance premium paid on all FHA mortgages is paid to the government and use the funding fee money to reimburse Florida FHA Mortgage lenders who were forced to foreclose on mortgages that were financed to bad credit mortgage applicants. Think of the funding fee as the foreclosure “insurance fund” for the FHA Florida Mortgage Lenders. In addition to the upfront funding fee, the borrower is also required to pay a small monthly fee to the FHA as part of their monthly mortgage payment. The monthly fee is called monthly MIP or mortgage insurance premium.
  • Do I have to be a first-time mortgage buyer to use the FHA mortgage? No you do not have to be a first time Florida home buyer but the FHA mortgage is only for a Primary home purchase only.
  • Can I roll all the closing costs into the FHA mortgage? You are permitted to finance the upfront FHA funding fee only. FHA mortgage closing costs can be paid by the seller up to 6% and must be negotiated up front in your purchase and sale agreement.
  • Can I get an FHA Mortgage after a Foreclosure or Bankruptcy? YES! you can qualify for an FHA mortgage 3 years after the title was transferred out of your name.A borrower may also still qualify for an FHA insured loan after declaring Chapter 13 bankruptcy, if at least 1 year of the bankruptcy payout period has passed and the borrower has been making satisfactory payments. In these cases, the FHA mortgage applicant must also request permission from the court to enter into a new FHA mortgage loan. declaring Chapter 7 bankruptcy, if at least 2 years have passed since the bankruptcy discharge date. FHA mortgage applicants must also have re-established good credit or have opted to incur no new debts (this means you specifically chose to take out no new loans, credit cards, etc.)
  • What is the minimum down payment for FHA Mortgage? Currently, 3.5% can from family gift or grant.
  • Can my parents or other relatives give me money? Yes, provided the money is considered a gift and your relative sign and date the proper gift letter documentation.
  • Is there a maximum FHA Mortgage Loan Amount? Yes, see maximum loan limits below based on the Florida county.

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About Us

We are US Mortgage Lenders. Major real estate brokerages regularly entrust their clients to our team due to our reputation for transparency, delivering on time, customer satisfaction and loyalty. With five-star customer reviews on Zillow.com and counting, you’re assured of having the backing of an experienced team.

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