Oviedo FHA Loans

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Oviedo FHA loans allow clients to get an easy mortgage loan for your house. The US federal government insures these loans through the FHA Department to ensure homeowners to get loans with limited requirements and to provide security to the money lender. If a person defaults on his payments, the government insurance covers the loss of the mortgage lenders.

Advantages of Oviedo FHA Home Mortgage Loans

With a low down of about 3.5% and its great terms of borrowing, Oviedo FHA loans are a viable option for first home buyers in today’s market. Even individuals with bad credit scores can simply select an Oviedo FHA mortgage loan.

Disadvantages of an Oviedo FHA Home Mortgage Loan

With the benefits of easy accessibility comes the negatives that you will have to pay a little more on your regular mortgage loan payments to make up for the Mortgage Insurance Premium (MIP).

Requirements to Get Approved for an FHA Home Mortgage

To ensure you qualify for an Oviedo FHA mortgage loan, you need to be a legal citizen of the U.S. with gainful employment. Moreover, as the FHA only accepts selected mortgage lenders for their mortgage loan insurance, you can’t process a loan application for an Oviedo FHA mortgage loan from every money lender. Even after you find the perfect mortgage loan from every money lender, an FHA mortgage loan is only sanctioned if the property you are requesting to buy has been approved by the department of Federal Housing Administration.

Extent of a Oviedo FHA Home Loan

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

How to Get an Oviedo FHA Home Mortgage?

If you would like to request an Oviedo FHA mortgage loan, contact us at the 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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