Lauderdale Lakes FHA Loans

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Lauderdale Lakes FL FHA home mortgages permit clients to get an easy mortgage for your federal government insures these home mortgages through the Federal Housing Administration (FHA) to ensure home owners to get home mortgages with limited conditions and to provide security to the lender. If a person doesn’t pay his commitments, the government insurance covers the loss of the mortgage bankers.

Positives of Lauderdale Lakes FHA Loans

With a limited down payment of only 3.5% and its easy terms of borrowing, Lauderdale Lakes FHA home mortgages are one of the best options for first home buyers today. Even borrowers with bad credit scores can easily choose a Lauderdale Lakes FHA mortgage.

Disadvantages of a Lauderdale Lakes FHA Home Loan

With the benefits of easy accessibility comes the drawbacks that you have to pay a little extra on your monthly mortgage payments to cover the MI.

Guidelines to Get Qualified for an FHA Loan

In order to meet the requirements for a Lauderdale Lakes FHA mortgage loan, you need to be a legal citizen of the USA with gainful employment. Moreover, as the FHA department only approves selected mortgage bankers for their mortgage insurance, you can not apply online for a Lauderdale Lakes FHA mortgage from every lender. Even after you locate the best mortgage from every lender, an FHA mortgage is only sanctioned if the property you wish to purchase has been authorized by the Federal Housing Administration.

Maximum Limits of a Lauderdale Lakes FHA Loan

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

How to Get a Lauderdale Lakes FHA Mortgage?

If you would like to obtain a Lauderdale Lakes FHA mortgage, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home mortgages and clarify your query to streamline 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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