Bonita Springs FHA Loans

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Bonita Springs FHA home mortgages permit you to obtain an easy home mortgage for your home. The US federal government insures these home mortgages through the Federal Housing Administration (FHA) to enable homeowners to obtain home mortgages on relaxed conditions and to provide security to the lender. If an individual defaults on his commitments, the mortgage insurance covers the loss of the money lenders.

Pros of Bonita Springs FHA Mortgages

With a low down of about 3.5% and its assumable terms of borrowing, Bonita Springs FHA home mortgages become one of the best options for first home buyers in today’s market. Even borrowers with below average credit history can easily select a Bonita Springs FHA home mortgage.

Disadvantages of a Bonita Springs FHA Home Mortgage

However with the benefits of easy accessibility comes the negatives that you will have to pay a little extra on your monthly home mortgage payments to cover the Mortgage Insurance.

Guidelines to Get Approved for an FHA Home Mortgage Loan

To ensure you qualify for a Bonita Springs FHA home loan, you must be a legal citizen of the USA with gainful employment. Moreover, as the FHA only approves selected money lenders for their home mortgage insurance, you can’t apply for a Bonita Springs FHA home mortgage from every lender. Even after you locate the perfect home mortgage from every lender, an FHA home mortgage is only sanctioned if the property you are requesting to purchase has been approved by the department of Federal Housing Administration.

Maximum Loan Amounts of a Bonita Springs FHA Home Loan

The limits of the mortgage loan amount vary from state to state and county to county, however, the general maximum home mortgage limit is approximately $625,000.

How to Get a Bonita Springs FHA Home Mortgage Loan?

If you wish to request a Bonita Springs FHA mortgage, contact First Nationwide Lending, where we can provide you with more information regarding these home mortgages and clarify your query to speed up the process of buying your new home.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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