Doral FHA Loans

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Doral FL FHA home mortgages permit you to obtain an easy home loan for your house. The US federal government insures these home mortgages via the FHA to ensure home owners to obtain home mortgages on relaxed conditions and to provide security to the bank. If a person misses his payments, the mortgage insurance covers the loss of the banks.

Pros of Doral FHA Mortgages

With a minimal down of only 3.5% and its easy terms of borrowing, Doral FHA home mortgages become one of the best options for first home buyers in today’s market. Even borrowers with below average credit scores can easily select a Doral FHA home loan.

Drawbacks of a Doral FHA Loan

However with the benefits of easy access comes the disadvantages that you have to pay a little extra on your monthly home loan payments to make up for the MI.

Requirements to Qualify for an FHA Home Mortgage

To ensure you meet the requirements for a Doral FHA mortgage loan, you must be a legal citizen of the Unites States with gainful employment. In addition, as the FHA department only approves selected banks for their home loan insurance, you can’t apply for a Doral FHA home loan from every bank. Even after you find the perfect home loan from every bank, an FHA home loan is only acceptable if the house you wish to buy has been approved by the FHA department.

Maximum Limits of a Doral FHA Loan

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

How to Obtain a Doral FHA Mortgage Loan?

If you would like to get a Doral FHA mortgage loan, contact First Nationwide Lending, where we can provide you with more information regarding these home mortgages 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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