Wellington FHA Loans

apply-now-today

Wellington FHA loans permit borrowers to obtain an easy home loan for your house. The United States federal government insures these loans through the FHA Department to enable homeowners to obtain loans on relaxed conditions and to provide security to the money lender. If a borrower defaults on his payments, the mortgage insurance covers the loss of the money lenders.

Advantages of Wellington FHA Home Mortgages

With a limited down payment of about 3.5% and its assumable terms of borrowing, Wellington FHA loans become a viable option for first home buyers in today’s market. Even borrowers with less than perfect credit scores can easily choose a Wellington FHA home loan.

Negatives Features of a Wellington FHA Mortgage

However with the benefits of easy accessibility comes the negatives that you have to pay a little extra on your monthly home loan payments to cover the MIP.

Requirements to Get Approved for an FHA Loan

In order to qualify for a Wellington FHA home loan, you need to be a legal citizen of the U.S. with gainful employment. Moreover, as the FHA only accepts selected money lenders for their home loan insurance, you can not process a loan application for a Wellington FHA home loan from every money lender. Even after you find the perfect home loan from every money lender, an FHA home loan is only sanctioned if the property you are requesting to purchase has been authorized by the Federal Housing Administration.

Maximum Limits of a Wellington FHA Loan

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

How to Get a Wellington FHA Mortgage Loan?

If you would like to obtain a Wellington FHA home mortgage, contact us at the First Nationwide Lending, where we can provide you with more information regarding these loans and clarify your query to streamline the process of buying your new home.

 

Contact Us

map

1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

Latest News