Miami Beach FHA Loans

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Miami Beach FHA mortgages allow you to get an easy loan for your home. The federal government insures these mortgages through the Federal Housing Administration (FHA) to ensure homeowners to get mortgages with limited conditions and to provide security to the money lender. If an individual misses his payments, the government insurance covers the loss of the bankers.

Advantages of Miami Beach FHA Mortgages

With a low down payment of only 3.5% and its flexible terms of borrowing, Miami Beach FHA mortgages are one of the best options for FTHB today. Even clients with less than perfect credit history can simply choose a Miami Beach FHA loan.

Negatives Features of a Miami Beach FHA Home Mortgage

However with the benefits of easy access comes the disadvantages that you will have to pay a little extra on your regular loan payments to cover the MIP.

Necessities to Get Approved for an FHA Home Mortgage

To ensure you qualify for a Miami Beach FHA loan, you must be a legal citizen of the U.S. with a steady job. In addition, as the FHA only accepts selected bankers for their loan insurance, you can’t process a loan application for a Miami Beach FHA loan from every money lender. Even after you find the perfect loan from every money lender, an FHA loan is only sanctioned if the property you are requesting to buy has been approved by the department of Federal Housing Administration.

Maximum Limits of a Miami Beach FHA Home Mortgage

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

How to Obtain a Miami Beach FHA Home Mortgage?

If you wish to obtain a Miami Beach FHA loan, 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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