Oakland Park FHA Loans

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Oakland Park FL FHA loans allow borrowers to obtain an easy home mortgage loan for your house. The United States federal government insures these loans via the FHA to ensure home owners to obtain loans with limited requirements and to provide security to the banker. If an FHA mortgagor misses his payments, the mortgage insurance covers the loss of the lenders.

Advantages of Oakland Park FHA Home Mortgages

With a limited down of about 3.5% and its flexible terms of borrowing, Oakland Park FHA loans become a viable option for first home buyers today. Even borrowers with below average credit history can easily choose an Oakland Park FHA home mortgage loan.

Drawbacks of an Oakland Park FHA Home Loan

With the benefits of easy access comes the negatives that you will have to pay a little more on your monthly home mortgage loan payments to make up for the MIP.

Necessities to Get Qualified for an FHA Home Loan

To ensure you meet the requirements for an Oakland Park FHA mortgage loan, you must be a legal citizen of the USA with gainful employment. Moreover, as the FHA only accepts selected lenders for their home mortgage loan insurance, you can not apply online for an Oakland Park FHA home mortgage loan from every banker. Even after you locate the right home mortgage loan from every banker, an FHA home mortgage loan is only acceptable if the home you wish to purchase has been authorized by the Federal Housing Administration.

Maximum Loan Amounts of an Oakland Park FHA Mortgage Loan

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

How to Get an Oakland Park FHA Mortgage Loan?

If you wish to obtain an Oakland Park FHA home mortgage, contact First Nationwide Lending, where we can provide you with more information regarding these loans and clarify your query to simplify 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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