Palm Harbor FHA Loans

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Palm Harbor FL FHA mortgage loans permit you to get an easy mortgage loan for your home. The United States federal government insures these mortgage loans through the Federal Housing Administration (FHA) to ensure home owners to get mortgage loans with limited requirements and to provide security to the money lender. If a borrower defaults on his commitments, the government insurance covers the loss of the lenders.

Advantages of Palm Harbor FHA Home Mortgages

With a minimal down of about 3.5% and its assumable terms of borrowing, Palm Harbor FHA mortgage loans become one of the best options for first home buyers today. Even clients with below average credit history can easily select a Palm Harbor FHA mortgage loan.

Disadvantages of a Palm Harbor FHA Loan

However with the benefits of easy access comes the drawbacks that you have to pay a little more on your regular mortgage loan payments to cover the MI.

Necessities to Get Approved for an FHA Home Mortgage Loan

In order to meet the requirements for a Palm Harbor FHA home mortgage, you must be a legal citizen of the Unites States with a steady job. In addition, as the FHA department only approves selected lenders for their mortgage loan insurance, you can not process a loan application for a Palm Harbor 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 acceptable if the property you are requesting to purchase has been authorized by the department of Federal Housing Administration.

Maximum Loan Amounts of a Palm Harbor FHA Home Loan

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

How to Get a Palm Harbor FHA Home Mortgage Loan?

If you wish to obtain a Palm Harbor 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 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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