The FHA loan program was created to help increase homeownership. The FHA program makes buying a Florida home easier and less expensive than other types of Florida home loan programs. Here are just some Examples of how FHA can help you purchase a Florida home,

Minimal Down Payment and Closing Costs.

Down payment less than 3% of Sales Price 100% Financing options available 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:

No minimum FICO score or credit score requirements. 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.

FHA refinancing offers benefits for current Florida real estate home owners who are seeking to complete a refinance mortgage of their existing real estate mortgage. A Florida FHA home loan refinance may also benefit you even if you do not currently have a FHA loan.

Some advantages of using a FHA mortgage for your mortgage refinance are as follows:

 Cash-Out Refinance up to 95% for existing or new FHA mortgages.

·  Cash-Out up to 95% of your properties value.

·  Consolidate first and second mortgages into single loan.

·  Bill consolidation programs.

·  Easier credit and income qualifications.

·  FHA regulated closing costs.

 Rate and Term Mortgage Refinancing up to 97% of your homes value.

·  Consolidate first and second mortgages  into a single loan.

·  No FICO score or credit score requirements

·  Competitive rates for borrowers with a Bankruptcy older than 2 years.

·  Competitive rates for borrowers with a Foreclosure older than 3 years.

·  Easier credit and income qualifications.

·  FHA regulated closing costs.

 FHA Streamline Refinance for existing FHA loans only.

·  No Cost Interest Rate Reductions programs.

·  No Income or Credit Qualifications.

·  Zero cost refinance options available.

·  Easily switch amortization for adjustable to fixed or vice versa.

·  Easily shorten or lengthen term of your existing loan.

·  Easier credit and income qualifications.

 FHA Secure Refinance with current mortgage lates.

·  Refinance your mortgage at competitive rates even if you have a mortgage late on your credit that is directly due to adjusting mortgage.

·  Qualify for refinance even if currently in foreclosure.

·  Complete details of FHA Secure loan.