Gainesville FHA Loans

apply-now-today

Gainesville FHA home mortgage loans permit you to get an easy mortgage for your house. The federal government insures these home mortgage loans via the Federal Housing Administration (FHA) to ensure home owners to get home mortgage loans with limited conditions and to provide security to the bank. If an FHA mortgagor defaults on his commitments, the government insurance covers the loss of the money lenders.

Positives of Gainesville FHA Loans

With a low down payment of just 3.5% and its flexible terms of borrowing, Gainesville FHA home mortgage loans become a viable option for FTHB in today’s market. Even borrowers with less than perfect credit scores can easily choose a Gainesville FHA mortgage.

Drawbacks of a Gainesville FHA Home Mortgage Loan

However with the benefits of easy access comes the negatives that you will have to pay a little extra on your monthly mortgage payments to make up for the MIP.

Guidelines to Qualify for an FHA Home Loan

In order to meet the requirements for a Gainesville FHA mortgage loan, you need to be a legal citizen of the USA with gainful employment. Moreover, as the FHA department only approves selected money lenders for their mortgage insurance, you can not apply for a Gainesville FHA mortgage from every bank. Even after you find the perfect mortgage from every bank, an FHA mortgage is only sanctioned if the property you wish to buy has been approved by the Federal Housing Administration.

Extent of a Gainesville FHA Mortgage

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

How to Obtain a Gainesville FHA Home Mortgage Loan?

If you wish to request a Gainesville FHA mortgage loan, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home mortgage loans and clarify your query to streamline the process of buying your new home.

First Nationwide Lending offers home owners, and those look to refinance, a variety of different financial options, including, but not limited to: purchase mortgages, refinance loans, reverse mortgage loans, USDA loans, FHA home loans, jumbo mortgage loans, HARP refinance mortgages, and VA loans.

 

Contact Us

map

1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

Latest News