Homestead FHA Loans

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Homestead Florida FHA home loans permit clients to obtain an easy loan for your house. The United States federal government insures these home loans through the FHA Department to ensure home owners to obtain home loans with limited conditions and to provide security to the banker. If an FHA mortgagor doesn’t pay his commitments, the government insurance covers the loss of the mortgage lenders.

Benefits of Homestead FHA Home Loans

With a low down payment of about 3.5% and its great terms of borrowing, Homestead FHA home loans are a viable option for FTHB in today’s market. Even people with bad credit history can simply opt for a Homestead FHA loan.

Drawbacks of a Homestead FHA Loan

However with the benefits of easy accessibility comes the negatives that you have to pay a little extra on your regular loan payments to cover the MI.

Necessities to Get Approved for an FHA Home Mortgage

In order to meet the requirements for a Homestead FHA mortgage, you must be a legal citizen of the U.S. with gainful employment. Moreover, as the FHA only approves selected mortgage lenders for their loan insurance, you can not process a loan application for a Homestead FHA loan from every banker. Even after you locate the perfect loan from every banker, an FHA loan is only sanctioned if the house you are requesting to buy has been approved by the Federal Housing Administration.

Extent of a Homestead FHA Home Mortgage

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

How to Obtain a Homestead FHA Loan?

If you wish to request a Homestead FHA home loan, contact First Nationwide Lending, where we can provide you with more information regarding these home loans and clarify your query to speed up 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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