Gainesville FHA Loans

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Gainesville Florida FHA mortgages allow borrowers to obtain an easy home mortgage for your home. The United States federal government insures these mortgages via the FHA to enable home owners to obtain mortgages with limited requirements and to provide security to the lender. If a person misses his payments, the government insurance covers the loss of the money lenders.

Positives of Gainesville FHA Loans

With a minimal down payment of only 3.5% and its easy terms of borrowing, Gainesville FHA mortgages become a viable option for first home buyers in today’s market. Even people with less than perfect credit history can simply opt for a Gainesville FHA home mortgage.

Disadvantages of a Gainesville FHA Mortgage Loan

However with the benefits of easy accessibility comes the drawbacks that you have to pay a little extra on your monthly home mortgage payments to cover the Mortgage Insurance.

Necessities to Qualify for an FHA Mortgage

In order to meet the requirements for a Gainesville FHA mortgage, you must be a legal citizen of the Unites States with a steady job. Moreover, as the FHA department only approves selected money lenders for their home mortgage insurance, you can’t apply for a Gainesville FHA home mortgage from every lender. Even after you find the perfect home mortgage from every lender, an FHA home mortgage is only acceptable if the house you wish to buy has been approved by the FHA department.

Maximum Loan Amounts of a Gainesville FHA Mortgage Loan

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

How to Get a Gainesville FHA Home 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 mortgages 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

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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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