Pompano Beach FHA Loans

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Pompano Beach FL FHA home mortgage loans allow borrowers to obtain an easy home mortgage for your home. The United States federal government insures these home mortgage loans through the Federal Housing Administration (FHA) to enable home owners to obtain home mortgage loans on relaxed conditions and to provide security to the lender. If a borrower misses his commitments, the mortgage insurance covers the loss of the mortgage lenders.

Pros of Pompano Beach FHA Home Mortgage Loans

With a minimal down of only 3.5% and its assumable terms of borrowing, Pompano Beach FHA home mortgage loans become one of the best options for FTHB today. Even borrowers with less than perfect credit scores can simply choose a Pompano Beach FHA home mortgage.

Negatives Features of a Pompano Beach FHA Home Loan

With the benefits of easy access comes the drawbacks that you will have to pay a little more on your regular home mortgage payments to make up for the Mortgage Insurance.

Requirements to Get Approved for an FHA Loan

In order to qualify for a Pompano Beach FHA mortgage loan, you need to be a legal citizen of the U.S. with gainful employment. Moreover, as the FHA department only accepts selected mortgage lenders for their home mortgage insurance, you can’t apply for a Pompano Beach FHA home mortgage from every lender. Even after you find the perfect home mortgage from every lender, an FHA home mortgage is only acceptable if the house you wish to purchase has been authorized by the FHA department.

Maximum Loan Amounts of a Pompano Beach FHA Mortgage

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

How to Get a Pompano Beach FHA Home Mortgage?

If you would like to get a Pompano Beach 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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