Archive for January 2011
For Florida homebuyers the FHA home loan just makes good sense
FHA Mortgage Loan for Florida Homeowners
Take the proper Steps to Get Your FHA Mortgage today
Other FHA loan Advantages Include:
Minimal Down Payment and Closing Costs.
Down payment less than 3.5% of Sales Price Gift for down payment and closing costs allowed. No reserves or required. FHA regulated closing costs. Seller can credit up to 6% of sales price towards buyers costs.
Easier Credit Qualifying Guidelines such as:
Minimum FICO credit score of 540. FHA will allow a home purchase 2 years after a Bankruptcy. FHA will allow a home purchase 3 years after a Foreclosure.
Easier Debt Ratio & Job Requirement Guidelines such as:
Higher Debt Ratio’s than other home loan programs. Less than two years on the job is allowed. Self-Employed individuals o.k.
Apply for an FHA mortgage at
www.FHAmortgageFHAloan.com
For Florida 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 FHA 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 1st Continental Mortgage loan officer can point you to many Downpayment assistance programs that work well with Florida FHA home loans.
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 the borrower.
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 1-800-570-0448 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 1-800-570-0448 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.
Purchasing a Florida home is one of life’s major landmarks and for some, it is even a dream come true. At FHAmortgageFHAloan.com we understand the importance of this decision and it is our goal to make your acquisition into home ownership memorable. Regardless of whether this is your first Florida home or your third Florida home purchase we will do our best to ensure that getting you into your new Florida home is a pleasant and memorable experience.
When you begin to seriously consider purchasing a new Florida home it is important that you follow some simple steps to make sure that the Florida home process goes smoothly.
The first thing you should do is an analysis of your debt to income ratio. This important step will let you know what type of Florida home you can afford and how much your current obligations will allow you the apply for based on your monthly income and expenses.
The next important step in purchasing a new Florida FHA home loan is to get pre-approved for an FHA home loan. The peace of mind that comes with knowing that your FHA mortgage loan and credit report have been approved will allow you to shop for your new FHA home with confidence. And when you find a Florida home and are ready to make an offer the fact that you have already been pre qualified for your FHA loan amount will give the seller confidence in you as a serious buyer.
About FHA Mortgage Loans
FHA guarantees eligible Florida home loan applicants the ability to obtain FHA home loans with 3.5% down payment. FHA mortgage loans can be fully assumable. FHA mortgage loan limits apply depending upon where the Florida home is located
FHA mortgage loans provide for low down payments and the easiest qualifying guidelines to make it easier for Florida homebuyers qualify! FHA home loans are popular with Florida first time home buyers but are equally liked by moving up buyers and Florida homeowners looking for a Florida Rehabilitation loan. With an FHA Mortgage loans you can borrow up to 96.5% of the purchase price of the Florida home.
The advantages of a FHA insured mortgage product to a Florida first time home buyer are many. A Florida homebuyer may apply for an FHA mortgage loan to purchase a Florida home with little money out of pocket. FHA home loan insurance permits FHA mortgage lenders to make mortgages for Florida first time homebuyers without risk.
With an FHA home loan here are no income limitations or minimum credit score requirements when FHA insured mortgage. This is why FHA loans are among the easiest mortgage loan to qualify for and almost anyone can qualify as long as they have a reasonable credit history and can afford the monthly FHA mortgage payments. You can also combine FHA home loan programs with many Florida first time homebuyer down payment programs.
FHA Streamline mortgage Refinancing
The FHA mortgage has permitted FHA streamline refinances on FHA insured home loans since the early 1980′s. The FHA streamline refinance refers only to the amount of documentation and underwriting that needs to be performed by the FHA mortgage lender, and does not mean that there are no costs involved in the transaction.
The basic requirements of a “streamline FHA mortgage refinance” include:
The FHA mortgage loan to be refinanced must already be insured by FHA. The refinance is to result in a “lowering” of the borrower’s monthly principal and interest payments. No cash may be taken out on mortgages refinanced using the “streamline” refinance process. The FHA mortgage to be refinanced should be current (not delinquent).
FHA mortgage Lenders may offer FHA streamline refinances and include the closing costs into the new FHA mortgage loan amount. This can only be done if there is sufficient equity in the Florida. FHA Streamline refinances can also be done without appraisals, but the new FHA home loan amount cannot exceed what is currently owed, that is FHA closing costs may not be added to the new FHA mortgage with those costs either be paid in cash or through the premium rate as described above.
Help Around The Home: Home Elevators
Article by John
Home elevators can upgrade your life significantly. They relieve you from the trouble of navigating up and down the stairs with bulky packages and luggage. You need not worry while carrying something very large that does not allow you to see where you are going. Home elevators are also of immense help to the elderly and disabled. They are perfect for others who want to enjoy convenience and safety. They are a great addition to your home to get years of convenience.
Benefits of home lift elevators
• AccessibilityAs you age, you may find it difficult to move between the floors of your home. Steps can also prove dangerous at times leading to tripping or falling. A home elevator is an exceptional solution to you to access various levels of your home conveniently and safely. If any of your family members is physically disabled and experiences physical mobility challenges, a home elevator can lend him/her great support. Your home becomes an enjoyable place where you or your family members move around effortlessly between levels. Home elevators can give you maximum mobility with little effort through all levels of your home.
• Cost savingsHome elevators help you plan to build your home taller. You need not worry about elongated flights of stairs. Building up is generally cheaper than building outward. The elevators give you the freedom to design your home decor and lifestyle needs without compromises. They require only one fourth of the space required by a staircase, so they let you use the space more efficiently. The cost saved on your foundation size and roof area will help to balance the cost of an elevator. You can install a home elevator during the construction of your home or you can add it at a later time.
• Increases the value of propertyInstalling home lift elevators in homes, especially in holiday homes, increase their market value. Elevators give great relief from the problem of carrying a week’s worth groceries, children, pets and luggage up flights of stairs. They also allow older family members to move up and down with freedom and ease. People are willing to give a higher rent for homes that are equipped with home elevators. They also make your home more attractive to potential buyers.
• Safe and convenientHome elevators come with a lot of safety features like emergency alarm, lockable control panel and emergency stop switch. Hence, you and any of your family members can negotiate all levels of your home safely and conveniently. They eliminate the need to move to another home if lifestyle or physical requirement changes due to illness, age or injury. Modern home elevators feature automatic on or off cab interior lighting, so you will not be left in the dark, in addition to normal safety features.
Elevators were used only in commercial buildings in the past. However, many home owners now recognize that home elevators are not a luxury but a necessity. They help to save your time and energy. Convenient mobility avoids many problems, including accidents and spine related injuries. They remove the burden of climbing up stairs and enhance your home.
About the Author
Get a high quality home elevator lift quote online today for free at Lift Able