Saint Petersburg FHA Loans

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Saint Petersburg FHA loans permit clients to obtain an easy home mortgage for your home. The US federal government insures these loans via the FHA to enable homeowners to obtain loans with limited requirements and to provide security to the banker. If a person defaults on his commitments, the government insurance covers the loss of the bankers.

Pros of St Pete FHA Home Mortgage Loans

With a minimal down payment of only 3.5% and its great terms of borrowing, Saint Petersburg FHA loans become a viable option for first home buyers in today’s market. Even people with below average credit scores can easily select a Saint Petersburg FHA home mortgage.

Drawbacks of a Saint Petersburg FHA Home Mortgage Loan

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

Guidelines to Qualify for an FHA Home Mortgage Loan

In order to qualify for a Saint Petersburg FHA home mortgage, you need to be a legal citizen of the Unites States with gainful employment. In addition, as the FHA only approves selected bankers for their home mortgage insurance, you can not apply for a Saint Petersburg FHA home mortgage from every banker. Even after you locate the best home mortgage from every banker, an FHA home mortgage is only sanctioned if the property you are requesting to purchase has been approved by the FHA department.

Maximum Loan Amounts of an St Pete FHA Home Mortgage Loan

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

How to Get a Saint Petersburg FHA Home Mortgage Loan?

If you would like to obtain a Saint Petersburg FHA home 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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