Doral FHA Loans

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Doral FL FHA home loans permit clients to obtain an easy home mortgage for your property. The US federal government insures these home loans via the Federal Housing Administration (FHA) to enable homeowners to obtain home loans on relaxed conditions and to provide security to the lender. If an FHA mortgagor misses his commitments, the mortgage insurance covers the loss of the money lenders.

Pros of Doral FHA Mortgages

With a minimal down payment of just 3.5% and its flexible terms of borrowing, Doral FHA home loans become a viable option for first home buyers in today’s market. Even individuals with bad credit scores can easily opt for a Doral FHA home mortgage.

Negatives Features of a Doral FHA Mortgage

With the benefits of easy access comes the negatives that you have to pay a little more on your regular home mortgage payments to make up for the Mortgage Insurance Premium (MIP).

Guidelines to Qualify for an FHA Home Loan

In order to qualify for a Doral FHA home mortgage, you must be a legal citizen of the Unites States with gainful employment. In addition, as the FHA only accepts selected money lenders for their home mortgage insurance, you can not apply for a Doral FHA home mortgage from every lender. Even after you find the right home mortgage from every lender, an FHA home mortgage is only sanctioned if the house you wish to buy has been approved by the FHA department.

Maximum Loan Amounts of a Doral FHA Home Loan

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

How to Obtain a Doral FHA Home Mortgage Loan?

If you wish to obtain a Doral FHA home 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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