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FHA Home Loans

FHA Home Loans

Florida FHA Mortgage Loans Have a Lot of Advantages!

  • 3.5% Down Payment that can be gifted.
  • Allow higher debt to Income ratios than a Conventional Mortgage.
  • Seller concessions up to 6% are allowed.
  • Credit Scores as Low as 600.
  • Lower interest rates and mortgage insurance than a conventional mortgage when you have a low credit score.
  • Can be used to finance Condos as long as the condo project is on the FHA Approved List.
  • Only a 3 year waiting period for prior short sales and foreclosures.
  • Great If you have had credit problems in the past.

FHA Home Loans are mortgages that are insured by the Federal Housing Administration, a Government agency. Borrowers are required to pay mortgage insurance (MIP) monthly, usually around 0.85 percent of the loan amount annually.

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