Clearwater FHA Loans

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Clearwater Florida FHA home loans allow clients to get an easy loan for your house. The US federal government insures these home loans through the FHA to ensure home owners to get home loans on relaxed conditions and to provide security to the lender. If an FHA mortgagor does not make his commitments, the MI covers the loss of the money lenders.

Pluses of Clearwater Florida FHA Home Mortgages

With a low down payment of about 3.5% and its easy terms of borrowing, Clearwater Florida FHA home loans become one of the best options for FTHB in today’s market. Even people with a bad credit scores can easily opt for a Clearwater Florida FHA loan.

Drawbacks of a Clearwater Florida FHA Mortgage Loan

However with the benefits of easy access comes the negatives that you have to pay a little more on your monthly loan payments to cover the MI.

Requirements to Get Approved for an FHA Mortgage Loan

To ensure you meet the requirements for a Clearwater Florida FHA loan, you must be a legal citizen of the Unites States with gainful employment. Moreover, as the FHA only approves selected money lenders for their loan insurance, you can’t apply online for a Clearwater Florida FHA loan from every lender. Even after you find the right loan from every lender, an FHA loan is only sanctioned if the house you are requesting to purchase has been approved by the department of Federal Housing Administration.

Maximum Loan Amounts of a Clearwater Florida FHA Mortgage Loan

The limits of the loan amount vary in every state and county of the USA, however, the general maximum loan amount is approximately $625,000.

How to Obtain a Clearwater Florida FHA Mortgage Loan?

If you wish to obtain a Clearwater Florida FHA loan, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home loans and clarify your query to simplify 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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