Saint Petersburg FHA Loans

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

Advantages of Saint Petersburg FHA Mortgages

With a minimal down of about 3.5% and its assumable terms of borrowing, Saint Petersburg FHA home mortgages become a viable option for first home buyers today. Even individuals with below average credit history can easily opt for a Saint Petersburg FHA home loan.

Disadvantages of a Saint Petersburg FHA Home Loan

However with the benefits of easy accessibility comes the disadvantages that you will have to pay a little extra on your monthly home loan payments to make up for the MIP.

Necessities to Get Approved for an FHA Home Loan

To ensure you meet the requirements for a Saint Petersburg FHA home loan, you must be a legal citizen of the USA with gainful employment. In addition, as the FHA only accepts selected bankers for their home loan insurance, you can’t apply for a Saint Petersburg FHA home loan from every mortgage banker. Even after you locate the right home loan from every mortgage banker, an FHA home loan is only acceptable if the house you wish to purchase has been approved by the FHA department.

Maximum Loan Amounts of an Saint Petersburg FHA Home Loan

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

How to Get a Saint Petersburg FHA Home Loan?

If you wish to request a Saint Petersburg FHA home loan, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home mortgages and clarify your query to speed up 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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