Davie FHA Loans

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Davie Florida FHA home loans allow you to obtain an easy mortgage loan for your house. The United States federal government insures these home loans via the FHA to enable homeowners to obtain home loans with limited requirements and to provide security to the bank. If a borrower defaults on his commitments, the MI covers the loss of the lenders.

Positives of Davie FHA Mortgage Loans

With a minimal down of about 3.5% and its easy terms of borrowing, Davie FHA home loans are a viable option for first home buyers today. Even people with bad credit scores can simply select a Davie FHA mortgage loan.

Negatives Features of a Davie FHA Loan

With the benefits of easy accessibility comes the negatives that you will have to pay a little extra on your regular mortgage loan payments to make up for the MI.

Necessities to Get Approved for an FHA Mortgage

To ensure you meet the requirements for a Davie FHA home loan, you must be a legal citizen of the Unites States with gainful employment. In addition, as the FHA department only accepts selected lenders for their mortgage loan insurance, you can not apply for a Davie FHA mortgage loan from every bank. Even after you locate the right mortgage loan from every bank, an FHA mortgage loan is only sanctioned if the house you are requesting to purchase has been authorized by the department of Federal Housing Administration.

Maximum Loan Amounts of a Davie FHA Home Loan

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

How to Get a Davie FHA Home Loan?

If you would like to obtain a Davie FHA home loan, contact 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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