Pompano Beach FHA Loans

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Pompano Beach Florida FHA loans permit clients to get an easy home mortgage for your home. The US federal government insures these loans via the FHA Department to enable homeowners to get loans with limited conditions and to provide security to the mortgage lender. If an individual defaults on his payments, the MI covers the loss of the bankers.

Advantages of Pompano Beach FHA Mortgage Loans

With a limited down payment of about 3.5% and its flexible terms of borrowing, Pompano Beach FHA loans are a viable option for FTHB today. Even borrowers with below average credit scores can easily select a Pompano Beach FHA home mortgage.

Negatives Features of a Pompano Beach FHA Home Mortgage

With the benefits of easy accessibility comes the negatives that you will have to pay a little more on your monthly home mortgage payments to make up for the MIP.

Requirements to Qualify for an FHA Mortgage Loan

In order to meet the requirements for a Pompano Beach FHA mortgage, you must be a legal citizen of the Unites States with gainful employment. In addition, as the FHA department only accepts selected bankers for their home mortgage insurance, you can not process a loan application for a Pompano Beach FHA home mortgage from every mortgage lender. Even after you locate the perfect home mortgage from every mortgage lender, an FHA home mortgage is only acceptable if the house you are requesting to buy has been authorized by the Federal Housing Administration.

Extent of a Pompano Beach FHA Home Loan

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

How to Obtain a Pompano Beach FHA Home Loan?

If you would like to obtain a Pompano Beach FHA mortgage, contact 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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