Lauderhill FHA Loans

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Lauderhill FL FHA mortgages permit clients to get an easy home loan for your home. The federal government insures these mortgages via the FHA Department to enable homeowners to get mortgages with limited conditions and to provide security to the money lender. If a person doesn’t pay his payments, the government insurance covers the loss of the lenders.

Benefits of Lauderhill FHA Home Mortgage Loans

With a low down payment of about 3.5% and its easy terms of borrowing, Lauderhill FHA mortgages become one of the best options for first home buyers today. Even clients with bad credit scores can simply select a Lauderhill FHA home loan.

Drawbacks of a Lauderhill FHA Home Loan

However with the benefits of easy access comes the negatives that you have to pay a little extra on your regular home loan payments to cover the Mortgage Insurance Premium (MIP).

Requirements to Get Qualified for an FHA Mortgage

To ensure you qualify for a Lauderhill FHA home loan, you need to be a legal citizen of the USA with gainful employment. In addition, as the FHA only approves selected lenders for their home loan insurance, you can not process a loan application for a Lauderhill FHA home loan from every money lender. Even after you locate the right home loan from every money lender, an FHA home loan is only sanctioned if the house you are requesting to buy has been authorized by the department of Federal Housing Administration.

Maximum Loan Amounts of a Lauderhill FHA Home Loan

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

How to Get a Lauderhill FHA Loan?

If you wish to get a Lauderhill FHA home 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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