Lauderdale Lakes FHA Loans

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Lauderdale Lakes Florida FHA home mortgage loans allow borrowers to obtain an easy loan for your home. The US federal government insures these home mortgage loans via the FHA to enable home owners to obtain home mortgage loans with limited requirements and to provide security to the mortgage banker. If a person misses his payments, the mortgage insurance covers the loss of the money lenders.

Advantages of Lauderdale Lakes FHA Home Loans

With a minimal down payment of about 3.5% and its flexible terms of borrowing, Lauderdale Lakes FHA home mortgage loans become one of the best options for FTHB today. Even clients with below average credit history can easily opt for a Lauderdale Lakes FHA loan.

Disadvantages of a Lauderdale Lakes FHA Loan

However with the benefits of easy access comes the drawbacks that you will have to pay a little more on your monthly loan payments to make up for the MIP.

Necessities to Qualify for an FHA Home Mortgage

To ensure you 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 only accepts selected money lenders for their loan insurance, you can’t apply for a Lauderdale Lakes FHA loan from every mortgage banker. Even after you locate the right loan from every mortgage banker, an FHA loan is only acceptable if the house you are requesting to buy has been approved by the department of Federal Housing Administration.

Extent of a Lauderdale Lakes FHA Loan

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

How to Obtain a Lauderdale Lakes FHA Home Loan?

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