Pinellas Park FHA Loans

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Pinellas Park FL FHA home loans allow borrowers to obtain an easy home loan for your property. The federal government insures these home loans through the FHA to enable home owners to obtain home loans on relaxed conditions and to provide security to the lender. If a borrower defaults on his commitments, the mortgage insurance covers the loss of the banks.

Pros of Pinellas Park FHA Loans

With a minimal down of only 3.5% and its assumable terms of borrowing, Pinellas Park FHA home loans are a viable option for first home buyers in today’s market. Even clients with bad credit history can easily choose a Pinellas Park FHA home loan.

Negatives Features of a Pinellas Park FHA Mortgage

With the benefits of easy accessibility comes the disadvantages that you will have to pay a little more on your monthly home loan payments to cover the Mortgage Insurance.

Necessities to Get Approved for an FHA Home Loan

In order to meet the requirements for a Pinellas Park FHA home mortgage, you need to be a legal citizen of the USA with a steady job. In addition, as the FHA only accepts selected banks for their home loan insurance, you can’t apply for a Pinellas Park FHA home loan from every lender. Even after you locate the perfect home loan from every lender, an FHA home loan is only sanctioned if the property you wish to buy has been approved by the FHA department.

Maximum Limits of a Pinellas Park FHA Loan

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

How to Get a Pinellas Park FHA Loan?

If you would like to get a Pinellas Park FHA home mortgage, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home 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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