Ocala FHA Loans

apply-now-today

Ocala Florida FHA mortgage loans allow borrowers to obtain an easy loan for your home. The federal government insures these mortgage loans through the FHA Department to enable homeowners to obtain mortgage loans with limited requirements and to provide security to the money lender. If an FHA mortgagor defaults on his commitments, the mortgage insurance covers the loss of the bankers.

Advantages of Ocala FHA Mortgage Loans

With a limited down of just 3.5% and its flexible terms of borrowing, Ocala FHA mortgage loans are a viable option for first home buyers today. Even clients with below average credit scores can easily choose an Ocala FHA loan.

Disadvantages of an Ocala FHA Mortgage Loan

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

Requirements to Get Approved for an FHA Home Mortgage

To ensure you meet the requirements for an Ocala FHA mortgage loan, you must be a legal citizen of the U.S. with a steady job. In addition, as the FHA only approves selected bankers for their loan insurance, you can’t process a loan application for an Ocala FHA loan from every money lender. Even after you locate the best 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 an Ocala FHA Loan

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

How to Get an Ocala FHA Home Mortgage?

If you wish to request an Ocala FHA mortgage loan, contact First Nationwide Lending, where we can provide you with more information regarding these mortgage loans and clarify your query to simplify 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