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100% Florida FHA Loans – FHA Mortgage accepts down payment assistance

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Florida FHA loans are very popular right now as they allow first time Florida home buyers and people with challenged credit access to low cost secure fixed rate mortgage. Most other banks and lending institutions require a middle score of 620 for any FHA loan, however at we are still able to extend FHA loans to anyone with a middle credit score of 580 or higher. For those with credit scores worse then 580 other Florida hard money options may have to be considered if your score can’t be boosted into the 580 range.

100% Florida FHA Loans – FHA Mortgage accepts down payment assistance gifts on all Florida FHA loans. We specialize in helping our clients structure their purchase so that they have to come to closing with little to no money out of their pockets!

Here are some of the prime benefits of an FHA loan:

Low down payment of 3.5%.
No approved zoning requirements
Mobile Homes loans are allowed
95% loan to value on cash out
No reductions to loan amount for declining markets
Not credit driven (low credit scores receive the same great rates as high credit scores)
No need to pay off medical or small collection accounts (letters of explanation are used)
Resident aliens are allowed
Very low mortgage insurance coverage (typically 50%-75% lower than conventional mortgage insurance)
Co-signers (including non occupant co-signers) are allowed
No income limitations at all
No prepayment penalties EVER
Security of a 30 year fixed mortgage
6% seller contribution are allowed for closing costs (no money out of pocket for buyer!)
Ability to use non tradition trade lines to qualify (phone bills, light bill, electric bill, cell phone bill, etc..)
High debt to income ratios up to 42% and up to 50% with compensating factors
Compensating factors such as length of time on the job or funds in reserves help overlook negative factors
No reserves required from buyer
Gifts are allowed from family, friends, work, or other interested parties
Down Payment Assistance Programs allowed

Apply at http://www.fhamortgagefhaloan.com/

http://www.fhamortgageprograms.com/florida/Ft-Myers/
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http://www.fhamortgageprograms.com/florida/Gainesville/
http://www.fhamortgageprograms.com/florida/Hollywood/
http://www.fhamortgageprograms.com/florida/Homosassa-Springs/
http://www.fhamortgageprograms.com/florida/Jacksonville/

Article Source:http://www.articlesbase.com/mortgage-articles/100-florida-fha-loans-fha-mortgage-accepts-down-payment-assistance-1652996.html

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