Miami Beach FHA Loans

apply-now-today

Miami Beach Florida FHA home mortgage loans allow borrowers to get an easy mortgage for your home. The federal government insures these home mortgage loans through the Federal Housing Administration (FHA) to ensure home owners to get home mortgage loans with limited requirements and to provide security to the money lender. If an individual doesn’t pay his commitments, the mortgage insurance covers the loss of the banks.

Positives of Miami Beach Florida FHA Loans

With a limited down payment of just 3.5% and its flexible terms of borrowing, Miami Beach Florida FHA home mortgage loans are one of the best options for first home buyers today. Even clients with a bad credit history can easily opt for a Miami Beach Florida FHA mortgage.

Drawbacks of a Miami Beach Florida FHA Mortgage Loan

However with the benefits of easy access comes the disadvantages that you have to pay a little more on your monthly mortgage payments to cover the Mortgage Insurance Premium (MIP).

Requirements to Qualify for an FHA Mortgage Loan

In order to qualify for a Miami Beach Florida FHA mortgage, you must be a legal citizen of the U.S. with a steady job. Moreover, as the FHA department only accepts selected banks for their mortgage insurance, you can’t apply online for a Miami Beach Florida FHA mortgage from every money lender. Even after you locate the right mortgage from every money lender, an FHA mortgage is only sanctioned if the home you are requesting to buy has been approved by the department of Federal Housing Administration.

Maximum Loan Amounts of a Miami Beach Florida FHA Mortgage Loan

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

How to Obtain a Miami Beach Florida FHA Mortgage Loan?

If you wish to request a Miami Beach Florida FHA mortgage, 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

map

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

Latest News