Oakland Park FHA Loans

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Oakland Park FL FHA mortgage loans allow borrowers to obtain an easy home loan for your property. The federal government insures these mortgage loans through the FHA Department to ensure home owners to obtain mortgage loans with limited requirements and to provide security to the mortgage lender. If a person doesn’t pay his commitments, the MI covers the loss of the banks.

Benefits of Oakland Park FHA Home Loans

With a limited down of just 3.5% and its easy terms of borrowing, Oakland Park FHA mortgage loans are one of the best options for first home buyers in today’s market. Even individuals with below average credit history can easily select an Oakland Park FHA home loan.

Negatives Features of an Oakland Park FHA Loan

However with the benefits of easy access comes the negatives that you will have to pay a little extra on your monthly home loan payments to make up for the Mortgage Insurance.

Requirements to Get Approved for an FHA Mortgage Loan

In order to qualify for an Oakland Park FHA mortgage loan, you must be a legal citizen of the USA with a steady job. In addition, as the FHA department only approves selected banks for their home loan insurance, you can’t apply online for an Oakland Park FHA home loan from every mortgage lender. Even after you locate the best home loan from every mortgage lender, an FHA home loan 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 an Oakland Park FHA Home Mortgage

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

How to Obtain an Oakland Park FHA Home Mortgage?

If you would like to request an Oakland Park FHA mortgage, contact First Nationwide Lending, where we can provide you with more information regarding these mortgage loans and clarify your query to streamline 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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