Palm Beach Gardens FHA Loans

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Palm Beach Gardens Florida FHA home mortgage loans permit you to obtain an easy home loan for your property. The federal government insures these home mortgage loans through the FHA to ensure homeowners to obtain home mortgage loans on relaxed conditions and to provide security to the money lender. If an FHA mortgagor doesn’t pay his payments, the mortgage insurance covers the loss of the banks.

Positives of Palm Beach Gardens FHA Home Loans

With a minimal down payment of just 3.5% and its easy terms of borrowing, Palm Beach Gardens FHA home mortgage loans become a viable option for FTHB in today’s market. Even individuals with below average credit scores can easily choose a Palm Beach Gardens FHA home loan.

Disadvantages of a Palm Beach Gardens FHA Home Loan

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

Guidelines to Qualify for an FHA Home Mortgage Loan

In order to qualify for a Palm Beach Gardens FHA home loan, you need to be a legal citizen of the U.S. with gainful employment. In addition, as the FHA only approves selected banks for their home loan insurance, you can’t apply for a Palm Beach Gardens FHA home loan from every money lender. Even after you locate the perfect home loan from every money lender, an FHA home loan is only acceptable if the home you are requesting to purchase has been approved by the Federal Housing Administration.

Maximum Loan Amounts of a Palm Beach Gardens FHA Loan

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

How to Obtain a Palm Beach Gardens FHA Home Mortgage Loan?

If you would like to get a Palm Beach Gardens FHA home mortgage, contact First Nationwide Lending, where we can provide you with more information regarding these home mortgage loans and clarify your query to simplify the process of buying your new home.

 

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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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