Ocala FHA Loans

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

Benefits of Ocala FHA Loans

With a minimal down of about 3.5% and its easy terms of borrowing, Ocala FHA mortgage loans become a viable option for first home buyers today. Even individuals with bad credit history can simply choose an Ocala FHA home mortgage loan.

Disadvantages of an Ocala FHA Mortgage

With the benefits of easy access comes the disadvantages that you will have to pay a little more on your regular home mortgage loan payments to cover the Mortgage Insurance Premium (MIP).

Guidelines to Get Approved for an FHA Mortgage Loan

To ensure you meet the requirements for an Ocala FHA home mortgage, you need to be a legal citizen of the U.S. with a steady job. In addition, as the FHA department only accepts selected lenders for their home mortgage loan insurance, you can’t apply online for an Ocala FHA home mortgage loan from every banker. Even after you locate the best home mortgage loan from every banker, an FHA home mortgage loan is only acceptable if the property you wish to purchase has been approved by the Federal Housing Administration.

Maximum Limits of an Ocala FHA Home Loan

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

How to Get an Ocala FHA Home Mortgage?

If you wish to obtain an Ocala FHA home loan, contact us at the 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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