Florida FHA Loan Programs
At one point and time many years ago, the FHA loan
was the only alternative to local bank financing for
home buyers. In the fashion world, there is a saying:
Wait long enough, and everything comes back into style.
That rule applies just as well to Florida FHA
mortgage program. Long-overlooked, the FHA
mortgage is becoming popular again with Florida
Buyers for its low rates and the real security it
For Florida banks and other mortgage lenders, FHA
mortgage loan financing offers the security
of a government insured Mortgage.
Win/Win! To learn more, call today at 1-954-667-9110
or just use our fast and easy quick
For first time home buyers and other borrowers, the
FHA home loans can have key advantages:
Easy Qualification - The FHA loan insures
lenders against loss for loans made to properly qualified
home loan borrowers. So you're likely to find FHA mortgage
loans with terms that make it easier for you to qualify.
Minimal Downpayment Requirements - FHA mortgages
can work with as little as 3% down and those funds can
come from a family member, charity, or your employer.
Although the FHA loan does not have a zero down mortgage
option yet, you will find that your experienced and expert loan officer can point you to many Downpayment
assistance programs that work well with Florida FHA
Less than A-1 Credit is Okay - The Florida
FHA home loan program exists to expand the
pool of home buyers. Even borrowers with prior bankruptcies
or mortgage lates get approved every day for FHA mortgages
to buy or Refinance
homes in Hillsborough County or any of the other Florida
counties we serve. The FHA loan program uses credit
quality, not credit score!
Lower Cost Over the Life of the Loan - The Florida
FHA home loan rates are extraordinarily competitive.
FHA's lower risk to the lender means a better rate for
Safeguards for Borrowers Who Get Behind - The
Florida FHA loan mortgages also allow the lender more
options in helping borrowers who fall behind keep their
homes are get current again: special forbearance, workouts,
even free mortgage counseling. Further, HUD can allow
the lender to take past due payments and move them to
the end of the loan and in some instance will actually
pay your past due payments for you. Options to save
your home you'll never get from a conventional loan!
In an uncertain world, this is another excellent reason
for you to get an FHA mortgage.
Options for Manufactured Housing - Under certain
conditions, you can even finance a Mobile
Home or manufactured home using a Florida FHA
mortgage loan. Call 1-954-667-9110 to get pre-approved
for a Florida FHA loan for manufactured housing or just
use our quick
application to learn more!
FHA Loans Are Fully Assumable - When you are
ready to sell your home, you can offer buyers FHA financing!
All FHA loans can be assumed by qualified buyers.
These are just seven of the many good reasons to apply
for an FHA mortgage. Call 1-954-667-9110 to speak with
a friendly Florida FHA loan specialist now!
The FHA program has evolved since it started in 1934
and now has options for HUD insured loans that fit a
variety of different borrowers and situations.
FHA Home Loans for Purchasing a Florida Home
Although Florida FHA home loans require additional
paperwork, the reality is that applying for an FHA
mortgage loan in Florida is not much different
from applying for conventional financing. In fact, for
many borrowers the small amount of extra time turns
out to be an exceptional mortgage bargain because they
save thousands of dollars over the life of their Florida
We have been working with
the FHA program for many years. We're experts at assembling
the proper paperwork and presenting your loan application
to FHA approved lenders diligently and professionally.
It's one of the ways that we have earned our reputation
for closing FHA home loans in Florida on-time.
You may be surprised at how flexible sellers are in
the current market and how many programs there are that
provide Downpayment assistance to applicants for FHA
financing to purchase Florida homes, condos, and townhouses.
The fact is, seller can pay up to 6% towards your closing
costs. This means, no closing costs for you when negotiated
during the purchase contract!
The FHA program offers excellent fixed rate options
and never a prepayment penalty. If other mortgage lenders
are quoting you subprime rates, you owe it to yourself
to make the call today an compare
the costs of getting an FHA home loan for your home
purchase. Call 1-954-667-9110 to speak with an FHA mortgage
expert before accepting any conventional mortgage quote
as the best you can do!
FHA Home Loans Offer the Convenience of Streamlined
An FHA streamline refinance is one of the easiest home
loans for Mortgage
Lenders and borrowers. Since HUD approved you for
the original FHA loan, the paperwork to refinance is
minimal and the process is simple.
So long as you have made your FL FHA loan mortgage
payments on time for the previous 12 months, you can
lower your monthly payment if interest rates go down
with minimal out of pocket expense. Even if you have
been late on your FHA mortgage, you might still qualify
for an FHA streamline refinance in Florida under very
Less documentation and no appraisal are just two of
the reasons a FHA streamline refinance is cheaper and
faster for the borrowers who qualify.
FHA Mortgage Loan
Streamline Refinance Requirements
When your mortgage lender helps you
get a streamlined FHA refinance on your existing mortgage
loan, he or she will make certain that you meet these
- Your current mortgage must be an FHA mortgage.
- You must have had your FHA Mortgage for at least
- You must have paid your mortgage on time for the
most current 12 months.
- Your FHA Streamline Refinance must lower the principal
and interest portion of your mortgage payment by at
least $50 or convert the mortgage from an ARM to a
fixed rate FHA home loan.
- You can't get cash out on the FHA streamline refi.
- You must have an FHA appraisal if you are rolling
the closing costs into the FHA streamline refinance.
- Any existing liens on your Florida home must be
subordinate to the new FHA mortgage.
FHA Mortgage Loan Refinance
Programs for Cashing Out Equity
Although a streamline refinance does not allow you
to cash out equity, we have a FHA loan refinance
program that is specifically designed for borrowers
who want to cash out equity to consolidate debts, make
home improvements or to access funds for other purposes.
Unlike many conventional loan programs, the FHA
mortgage does not adjust the rate based upon
loan to value or credit score. You will find the FHA
has very reasonable underwriting guidelines for cash
We have helped many clients borrow up to 85% of the
appraised value of their homes and use the funds to
consolidate debts or to make home improvements and other
purposes. Qualified borrowers will have to look hard
to find lower rates and better terms than they can get
on Florida FHA cash out refinance right now!
Call a mortgage professional today at 1-954-667-9110
or use our quick
application to apply for an FHA refinance on your
home in Sumter County or any of the other Florida counties
we offer FHA mortgages in.
FHA Home Loans For Mobile Homes with Land
Although some conventional lenders in Florida shy away
from making a loan on Mobile
Homes or manufactured homes, many FHA mortgage
loan lenders do not.
In fact, mobile homeowners fortunate enough to connect
with a Florida mortgage lender, who is well schooled
in how FHA loans work for mobiles and manufactured homes,
can get a better interest rate, better terms, and a
lower monthly payment by going FHA in nearly every case.
If you're shopping for financing to buy a mobile or
manufactured home on land in Sumter County or any of
the other 66 counties in Florida that we serve, call
1-954-667-9110 and let us give you a quote for an FHA
mortgage loan to purchase your mobile or manufactured
It only takes a few minutes to get an FHA loan mortgage
quote on your Florida mobile home. We'll wager that
the savings on your monthly mortgage payments will make
it some of the highest paid work you've ever done.
Few people realize that the FHA loan
uses the same underwriting criteria for single and double
wide mobile homes and manufactured housing as it does
for traditional site built block or stick homes. In
addition, FHA is one of the very few programs that can
offer up to 97% financing on mobile homes on land. In
addition, did you know that the seller can contribute
up 6% toward your closing costs on an FHA mobile home
loan and that down payment assistance can be used in
Florida? It's true! You could package your mobile home
financing to create a real no money down loan with unbelievably
Call 1-954-667-9110 or use our secure online quick
application for a free no obligation quote on financing
your manufactured or mobile home using an FHA mortgage
FHA Mobile Home Lending Guidelines
The Department of Housing and Urban Development (HUD)
sets forth these guidelines for determining if a mobile
or manufactured home qualifies for an FHA mortgage
loan in Florida:
- The mobile or manufactured home must be constructed
in accordance with the Federal Manufactured Home Construction
and Safety Standards. A red tag is attached to the
rear of each section of homes that comply with the
- The home must be taxed as real estate by the local
tax assessor's office.
- The mobile or manufactured home must have been built
after June 15, 1976.
- The mortgage must have a term of at least 30 years
from when amortization begins.
- The mobile home or manufactured home must be on
a permanent foundation.
- The axles and tongue must be removed from the mobile
or manufactured home.
- The mobile home or manufactured home must have adequate
skirting and insulation, and the crawl space must
have adequate ventilation.
If you would like to determine if your mobile or manufactured
home meets the guidelines for section 184 financing
from FHA, call one of our Florida mortgage pros at 1-954-667-9110.
We'll be glad to help you determine if the property
that you are interested in can be used as collateral
for an FHA mobile home mortgage.
FHA 203k Mortgages For Florida Homeowners Making Home
The FHA 203k loan program is nothing more than a specialized
FHA home loan designed to help homeowners make home
improvements. It is especially popular in neighborhoods
with properties in need of rehabilitation.
The FHA 203k loans work in Florida communities in much
the same way as Construction
loans for home improvement. Eligible borrowers can use
the proceeds from these mortgage to renovate and improve
their primary residences.
Qualifying for a 203k FHA mortgage uses the same guidelines
as a standard FHA mortgage for the purchase of a Florida
Target Borrowers for FHA 203K Mortgages
This specialized FHA mortgage is for Floridians who
wish to buy a home that needs repairs or renovations.
Just as is the case with a conventional construction
loan, a single FHA 203k loan covers both purchase of
the Florida real estate and renovation. FHA 203K financing
can be used to purchase a property on a site and move
it to a new foundation on the mortgaged property and
In addition, Florida homeowners can also use a 203k
FHA mortgage to refinance existing debt when they finance
one or more home improvements using the FHA 203k mortgage
Many borrowers are finding out what a good deal a Florida
FHA home loan really is. Call 1-954-667-9110
today or simply use our quick
application to find out more!