Lauderdale Lakes FHA Loans

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Lauderdale Lakes FHA mortgages allow borrowers to obtain an easy mortgage loan for your property. The US federal government insures these mortgages via the FHA Department to enable homeowners to obtain mortgages with limited requirements and to provide security to the mortgage lender. If a borrower defaults on his payments, the mortgage insurance covers the loss of the mortgage lenders.

Advantages of Lauderdale Lakes FHA Home Loans

With a low down of only 3.5% and its assumable terms of borrowing, Lauderdale Lakes FHA mortgages are one of the best options for FTHB today. Even people with less than perfect credit scores can easily choose a Lauderdale Lakes FHA mortgage loan.

Negatives Features of a Lauderdale Lakes FHA Loan

With the benefits of easy access comes the disadvantages that you have to pay a little more on your monthly mortgage loan payments to cover the Mortgage Insurance.

Requirements to Qualify for an FHA Mortgage

In order to qualify for a Lauderdale Lakes FHA mortgage, you need to be a legal citizen of the Unites States with a steady job. Moreover, as the FHA only accepts selected mortgage lenders for their mortgage loan insurance, you can not apply online for a Lauderdale Lakes FHA mortgage loan from every mortgage lender. Even after you find the right mortgage loan from every mortgage lender, an FHA mortgage loan is only acceptable if the house you wish to buy has been approved by the Federal Housing Administration.

Maximum Limits of a Lauderdale Lakes FHA Mortgage Loan

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

How to Obtain a Lauderdale Lakes FHA Home Mortgage Loan?

If you wish to request a Lauderdale Lakes FHA mortgage, contact First Nationwide Lending, where we can provide you with more information regarding these mortgages 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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