Margate FHA Loans

apply-now-today

Margate FL FHA home loans permit you to obtain an easy home mortgage for your house. The federal government insures these home loans through the FHA to ensure home owners to obtain home loans on relaxed conditions and to provide security to the mortgage banker. If a borrower misses his payments, the MI covers the loss of the mortgage lenders.

Benefits of Margate FHA Home Loans

With a limited down payment of just 3.5% and its great terms of borrowing, Margate FHA home loans are one of the best options for FTHB in today’s market. Even borrowers with bad credit history can simply choose a Margate FHA home mortgage.

Drawbacks of a Margate FHA Mortgage

However with the benefits of easy accessibility comes the disadvantages that you have to pay a little more on your monthly home mortgage payments to make up for the Mortgage Insurance.

Guidelines to Qualify for an FHA Home Loan

To ensure you qualify for a Margate FHA mortgage loan, you need to be a legal citizen of the Unites States with gainful employment. In addition, as the FHA department only approves selected mortgage lenders for their home mortgage insurance, you can not apply online for a Margate FHA home mortgage from every mortgage banker. Even after you locate the right home mortgage from every mortgage banker, an FHA home mortgage is only acceptable if the property you wish to purchase has been approved by the Federal Housing Administration.

Maximum Limits of a Margate FHA Home Loan

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

How to Get a Margate FHA Mortgage Loan?

If you wish to obtain a Margate FHA home loan, contact First Nationwide Lending, where we can provide you with more information regarding these home loans and clarify your query to speed up the process of buying your new home.

 

Contact Us

map

1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

Latest News