Lauderhill FHA Loans

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Lauderhill FHA mortgage loans permit clients to obtain an easy mortgage loan for your house. The federal government insures these mortgage loans through the Federal Housing Administration (FHA) to enable home owners to obtain mortgage loans with limited requirements and to provide security to the lender. If an FHA mortgagor does not make his payments, the MI covers the loss of the mortgage lenders.

Benefits of Lauderhill FHA Mortgage Loans

With a low down payment of only 3.5% and its great terms of borrowing, Lauderhill FHA mortgage loans become one of the best options for first home buyers in today’s market. Even individuals with below average credit history can simply select a Lauderhill FHA mortgage loan.

Drawbacks of a Lauderhill FHA Home Mortgage Loan

However with the benefits of easy accessibility comes the drawbacks that you will have to pay a little more on your regular mortgage loan payments to cover the MI.

Guidelines to Get Approved for an FHA Mortgage Loan

In order to qualify for a Lauderhill FHA home mortgage, you must be a legal citizen of the U.S. with a steady job. Moreover, as the FHA only approves selected mortgage lenders for their mortgage loan insurance, you can not apply for a Lauderhill FHA mortgage loan from every lender. Even after you locate the best mortgage loan from every lender, an FHA mortgage loan is only acceptable if the property you wish to purchase has been authorized by the FHA department.

Maximum Limits of a Lauderhill FHA Home Loan

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

How to Obtain a Lauderhill FHA Home Mortgage?

If you would like to obtain a Lauderhill FHA mortgage loan, contact us at the First Nationwide Lending, where we can provide you with more information regarding these 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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