Fort Lauderdale FHA Loans

apply-now-todayThe ease of access and availability, coupled with the fact that there are lower requirements involved in securing Fort Lauderdale FHA loans makes it a better choice for most over conventional loans.

First Nationwide Lending provides some of the lowest rates in Florida, with down payments as low as 3.5%. We work towards helping you buy a home you can call your own through our highly friendly and qualified staff and expedited service.

Requirements for a Fort Lauderdale FHA Loan

Fort Lauderdale FHA loans are some of the easiest loan types to qualify for. Here are some of the criteria you should meet in order to become eligible for the loan.

• Stable income and employment
• Valid Social Security number
• Property should be appraised and approved by the FHA
• Adequate debt-to income ratio
• Credit score of at least 580

There are also requirements that the property you intend to buy has to meet for Fort Lauderdale FHA loans. Your property should be of adequate standard and functionality in order to meet the minimum appraisal standard.

Benefits of a Fort Lauderdale FHA Loan over Conventional Loan

Once you are eligible for Fort Lauderdale FHA loans, then you can benefit from the following over conventional loans:

• The eligibility requirements are much lower
• The credit score requirements are lower and for moderate income earners
• The down payment is much lower (can go up to 30% in conventional loans)
• Requires lower debt-to-income ratio
• If you sell your home, then the buyer can assume the loan
• If you have low credit score or going through foreclosure or bankruptcy, you can still qualify

As you can see, Ft Lauderdale FHA loans have significant advantages over conventional loans. With First Nationwide Lending, you can purchase the home you desire with some of the lowest rates and down payment in town. Contact us today at (877) 422-4023 to find out how we can help you secure an FHA loan.

 

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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