Gainesville FHA Loans

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Gainesville FL FHA loans allow clients to obtain an easy mortgage for your house. The federal government insures these loans via the Federal Housing Administration (FHA) to enable home owners to obtain loans with limited requirements and to provide security to the money lender. If a person doesn’t pay his payments, the MI covers the loss of the lenders.

Positives of Gainesville FHA Home Loans

With a minimal down of only 3.5% and its easy terms of borrowing, Gainesville FHA loans are one of the best options for FTHB in today’s market. Even individuals with less than perfect credit scores can easily choose a Gainesville FHA mortgage.

Drawbacks of a Gainesville FHA Home Loan

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

Requirements to Get Qualified for an FHA Mortgage Loan

In order to meet the requirements for a Gainesville FHA home mortgage, you must be a legal citizen of the Unites States with a steady job. Moreover, as the FHA department only accepts selected lenders for their mortgage insurance, you can’t process a loan application for a Gainesville FHA mortgage from every money lender. Even after you find the best mortgage from every money lender, an FHA mortgage is only acceptable if the property you wish to purchase has been approved by the department of Federal Housing Administration.

Maximum Limits of a Gainesville FHA Home Loan

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

How to Get a Gainesville FHA Home Mortgage Loan?

If you would like to obtain a Gainesville FHA home mortgage, contact us at the First Nationwide Lending, where we can provide you with more information regarding these loans and clarify your query to speed up 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.

 

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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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