Florida FHA Mortgage Lender :: Florida FHA Loan :: Florida Home Loan ::

Posted by admin in MortgageJul 7th, 2010 | No Comments

FloridaFHA Mortgage Lender :: Florida FHA Loan :: Florida Home Loan ::

http://www.FHAmortgageProgram.com   is your one stop shop for everything FHA loan  related in Florida. As an Florida FHA mortgage lender specializing solely in FHA  home loan in the state of Florida we are well versed in every aspect of the FHA home loan in the State of Florida.  Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Florida FHA home loan applicant the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3.5% of Sales Price Gifts are allowed
Seller can credit up to 6% of sales price towards closing and prepaid costs.
100% Financing available
No reserves required.
FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements.
FHA will allow a home purchase 1 year after a Bankruptcy.
FHA will allow a home purchase2 years after a Foreclosure.

To take advantage of the FHA program in Florida, give us a call 1-800-570-0448 begin_of_the_skype_highlighting              1-800-570-0448      end_of_the_skype_highlighting or use our quick application to find out more about the many FL mortgage programs we can make available. Or Apply now for a FL FHA home loan.

www.FHAmortgageFHALoan.com

Since the Florida mortgage meltdown went bust there has been a massive increase in Florida FHA mortgage applicants. Florida FHA loans have become popular for many reasons. Some of the reasons that FHA financing has become the best source of financing for Florida homebuyers  purchasing or refinancing their primary residence includes:

High LTV Florida FHA Home Loan Purchases- Florida FHA mortgage lenders allow for 97.75% of the purchase price to be financed. Conventional Florida lenders requires a minimum of 10% of the purchase price to be put down from the Florida home buyer. A Florida FHA loan will save any buyer purchasing their primary residence from having to put the additional 6.25% of the purchase price that conventional financing would have required them to do. This higher loan to value allows the Florida FHA loan applicant to keep more of their hard earned money in their pockets instead of locked up in the equity of the Florida home. In today’s market where sales prices have been falling it makes perfect sense to keep as little out of pocket expenses locked in the equity of Florida home as possible. 

Now More Florida property types allowed for FHA Financing – Florida FHA home loans now allow Florida home buyers to financing not only your typical 1-4 unit single family or multifamily homes, but also mobiles homes, Florida manufactured home loans, condos and townhouses. Conventional Florida mortgage lenders will not do Florida mobile homes or manufactured homes and they put sever restrictions on financing condos or townhouses. This is another reason that the Florida FHA loans are  far superior to conventional financing in Florida. If you have a property type that others have turned you down over, we can show you how to use a Florida FHA home loan to meet your needs!

FHA mortgage insurance cost less – Florida FHA mortgage loans provide much lower mortgage insurance premiums than conventional financing does. Typically your  FHA mortgage insurance will cost a Florida FHA mortgage applicant  1/2 of the cost of conventional Florida mortgage insurance. This is even more monthly savings that a Florida FHA loan will be able to provide over your typical conventional loan. 

Higher FHA cash refinance limits allowed - Florida FHA cash out refinances will now allow for 85% of the appraised value of the Florida home  to be obtained when doing cash out on your Florida home. If you just want to lower your interest rate, Florida FHA refinances can go up to 96.5% of the value of your home to help you lock in a lower 30 year fixed Florida mortgage rate. Conventional loans only allow borrowers to cash out up to 80% of the value of their homes. The Florida FHA loan allows an additional 5% over what typical conventional lenders will allow. More cash in your pocket with a Florida FHA cash out refinance!

www.FHAmortgageFHALoan.com

 

Serving These Fine Florida Communities:

Arcadia :: Boca Raton :: Boynton Beach :: Bradenton :: Brandon :: Cape Coral :: Clearwater :: Clewiston
Crestview :: Daytona Beach :: Deerfield Beach :: Deland :: Delray Beach :: Deltona :: Destin :: Englewood
Fort Pierce :: Ft. Lauderdale :: Ft. Myers :: Ft. Walton Beach :: Gainesville :: Hollywood :: Homosassa Springs
Jacksonville :: Key West :: Kissimmee :: Lake City :: Lakeland :: Lynn Haven :: Marathon :: Marco Island
Melbourne :: Miami :: Miami Beach :: North Fort Myers :: North Miami Beach :: Naples :: Ocala :: Okeechobee
Orlando :: Ormond Beach :: Osprey :: Palatka :: Palm Bay :: Palm Beach :: Palm Coast :: Panama City :: Pensacola
Pompano Beach :: Port St. Lucie :: Punta Gorda :: Santa Rosa :: Sarasota :: Sebastian :: Sebring :: Springhill
St. Augustine :: St. Petersburg :: Tallahassee :: Tampa :: The Villages :: Titusville :: Venice :: Vero Beach
Wauchula :: Wesley Chapel :: West Palm Beach :: Winter Park

Serving These Fine Florida Counties:

Alachua :: Baker :: Bay :: Bradford :: Brevard :: Broward :: Calhoun :: Charlotte :: Citrus :: Clay :: Collier
Columbia :: Dade :: DeSoto :: Dixie :: Duval :: Escambia :: Flagler :: Franklin :: Gadsden :: Gilchrist :: Glades
Gulf :: Hamilton :: Hardee :: Hendry :: Hernando :: Highlands :: Hillsborough :: Holmes :: Indian River :: Jackson
Jefferson :: Lafayette :: Lake :: Lee :: Leon :: Levy :: Liberty :: Madison :: Manatee :: Marion :: Martin :: Miami-Dade
Monroe :: Nassau :: Okaloosa :: Okeechobee :: Orange :: Osceola :: Palm Beach :: Pasco :: Pinellas :: Polk
Putnam :: Saint Johns :: Saint Lucie :: Santa Rosa :: Sarasota :: Seminole :: Sumter :: Suwannee :: Taylor :: Union
Volusia :: Wakulla :: Walton :: Washington

FHA :: Mobile Homes ::

FHA Loans Backed by the Government and insured by HUD, the FHA mortgage loans is a safe secure way to buy a Florida home!

Posted by admin in MortgageJul 7th, 2010 | No Comments

FHA Loan Florida – FHA Mortgage Florida
FHA Loans Backed by the Government and insured by HUD, the FHA mortgage loans is a safe secure way to buy a Florida home!

Florida home buyers are learning the many advantages of the FHA loan programs. FHA loans were created to help increase Florida home ownership. For the Florida home buyer the FHA program can simplify the purchase of a Florida home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed
Seller can credit up to 6% of sales price towards closing and prepaid costs.
100% Financing available
No reserves required.
FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements.
FHA will allow a home purchase 1 year after a Bankruptcy.
FHA will allow a home purchase2 years after a Foreclosure.

To take advantage of the FHA program in Florida, give us a call 1-800-570-0448 begin_of_the_skype_highlighting or use our quick application to find out more about the many FL mortgage programs we can make available. Or Apply now for a FL FHA home loan.

FHA Loan Program To Buy A Florida Loan Overview

Low, low down payment’s! Only 3.5% down required!
Finance Florida single family, Florida condo, town Florida house and mobile Florida homes.
Seller able to pay up to 6% closing costs.
Down payment gifts and grants allowed!
Easier qualification!
You do NOT have to be a first time home buyer to use the FHA mortgage program!
Government Backed Mortgage! HUD Insured!
Higher debt ratios for home buyers.
Low Interest fixed rate and adjustable interest rates.
No income restrictions!

Florida home buyers can make the dream of home ownership a reality for many people who would never have thought they would qualify for the purchase of a Florida home. If you’re in the market to purchase a new or existing Florida home, the FHA home loan is a great program choice to consider.

Still not convinced? Take a look the full range of benefits you receive as a Florida home buyer just for using the FHA loan program:

Easier qualification
Low interest rates compared to conventional mortgage programs
Adjustable and fixed rate loan options
2/1 buy down option
Everyone is eligible
Lowest down payment for an open ended mortgage program – as low as 3.5% (USDA has income caps and significant property restrictions)
Up to 6% in seller concessions towards closing costs
Credit score not a factor – only credit quality
30 year and 15 year mortgage financing terms
Higher debt ratios than conventional loans
Fully assumable
Non-occupying co-borrowers permitted
Streamline refinance at a later date
Rehab a property with a 203k loan
Reverse your mortgage during retirement

We are experts in the government backed HUD insured Florida FHA mortgage program and can help guide you through the process of becoming a homeowner! Contact us today to get started!

This government mortgage program is insured by HUD and designed to make home ownership more affordable for everyone. The FHA mortgage program has underwriting guidelines that are designed to make it easier to qualify for than conventional loans. Since the the FHA home loan is government backed and insured, is comes with low interest rates and terms that are designed to protect you.

One of the most important features of the FHA loan program is the fact it does not ask that you have a great credit score to get the best rate and maximum amount financed. In fact, HUD guidelines state that a credit score should not be used as a factor in underwriting an FHA loan. What does this mean? People with lower credit scores can use the Florida FHA mortgage program to attain 96.5% financing and a great low interest rate! Have great credit? That’s OK, you’ll still get a great low interest rate and you’ll be able to finance up to 96.5% of the purchase price or appraised value, whichever is less. Try doing that with a conventional home purchase!

So what types of properties may be purchased using an Florida FHA mortgage? Almost any – single family homes, mobile & modular homes, condominiums, town homes and more. To learn more about properties you can finance with our many Florida mortgage programs.

Serving These Fine Florida Communities:

Arcadia :: Boca Raton :: Boynton Beach :: Bradenton :: Brandon :: Cape Coral :: Clearwater :: Clewiston
Crestview :: Daytona Beach :: Deerfield Beach :: Deland :: Delray Beach :: Deltona :: Destin :: Englewood
Fort Pierce :: Ft. Lauderdale :: Ft. Myers :: Ft. Walton Beach :: Gainesville :: Hollywood :: Homosassa Springs
Jacksonville :: Key West :: Kissimmee :: Lake City :: Lakeland :: Lynn Haven :: Marathon :: Marco Island
Melbourne :: Miami :: Miami Beach :: North Fort Myers :: North Miami Beach :: Naples :: Ocala :: Okeechobee
Orlando :: Ormond Beach :: Osprey :: Palatka :: Palm Bay :: Palm Beach :: Palm Coast :: Panama City :: Pensacola
Pompano Beach :: Port St. Lucie :: Punta Gorda :: Santa Rosa :: Sarasota :: Sebastian :: Sebring :: Springhill
St. Augustine :: St. Petersburg :: Tallahassee :: Tampa :: The Villages :: Titusville :: Venice :: Vero Beach
Wauchula :: Wesley Chapel :: West Palm Beach :: Winter Park

 

Florida FHA Loan ::Florida FHA Mortgage Lender

Posted by admin in MortgageJul 7th, 2010 | No Comments

Florida FHA Loan ::Florida FHA Mortgage Lender

FHA Mortgage Programs in Lakeland we provide

credit repair
Conventional Home loans
FHA Home Buyer Loans
refinancing
FHA home loans
reverse mortgages

www.FHAmortgagePrograms.com

Lakeland Florida FHA mortgage lender- Lakeland Florida is located approximately halfway between Tampa and Orlando right in the heart of central Florida. The principal city of Lakeland Florida is Polk County, it is located within the Lakeland-Winter Haven Florida Metropolitan Statistical Area. Because of it’s central location in the State, it is the perfect place to put down roots and obtain a Lakeland Florida FHA  home loan. Specializing in FHA home loans in Lakeland Florida , we are the number one source for all your Lakeland Florida FHA mortgage needs.

Lakeland Florida combines the small town community feeling with all the amenities and excitement of the larger cities that are so close. With plenty of Lakeland Florida housing available and FHA mortgage rates historically low, our licensed Lakeland Florida FHA mortgage brokerwill be able to explain the different FHA home loans programs available in the lending marketplace today. Our philosophy is to identify the best FHA  loan for each borrower’s individual circumstance and deliver exceptional service throughout the entire loan process.

It used to be that the FHA mortgage was not credit score driven. Today it is! With the banks tightening up on FHA lending guidelines and increasing credit scores requirements to qualify for a FHA mortgage in Lakeland Florida, we have a team of certified credit counselors in-house to help our clients experiencing unwarranted credit problems. Within a 75 day period, we help them re-establish good credit with all three of the credit bureaus.

Whether you are financing a new home or refinancing an existing loan, choosing the right Lakeland FL mortgage company is as important as choosing the right loan scenario that meets all your financial goals and expectations. We strive very hard to make sure that our clients have a complete understanding of the entire loan process from start to finish. With a staff of licensed brokers, our guarantee is your satisfaction.

Easily accessible to highways, rail and airports, it is projected that Lakeland’s economic growth and population should only keep increasing. With super fantastic weather year-around, great geographical location, and steady economic growth, makes obtaining a mortgage in Lakeland the smartest move for anybody. Whether you are looking for financing for a new home purchase or refinancing your existing home mortgage, we are the loan providers for every scenario. Being a mortgage lender in Lakeland, our reputation is built on delivering the highest quality of customer service. Today, more and more people are financing with an FHA Mortgage purchase. Only required to only put down 3.5% (financing 96.5%) of the purchase price, gift fund and seller concessions are allowed. On a cash-out refinance, the lending limit is 85% of the value of the property. Refinancing for a rate and term finance, then lending limit goes as high as 97.75%. Allowable debt to income ratio’s up to 55%, there are many pluses of considering an FHA mortgage.

 

How to select the right mortgage broker

Posted by admin in MortgageJul 7th, 2010 | No Comments

When you are looking for a mortgage broker make sure they are qualified, most mortgage broker have gone to school and have years of training under a senior broker to ensure the know the ins and outs of the mortgage industry. The industry has a designation calls Accredited Mortgage Professional to differentiate the category of mortgage broker. If the broker you are meeting has this designation then you are in good hands to move forward. What a mortgage broker does is they have you fill out a form with your financial information and credit score and based on that information they shop for the best mortgage under the terms you are looking for. Like are you looking for a variable or fixed rate mortgage, how much of a down payment do you have. Are you self employed. The host of factors will help you mortgage broker determine which lender is best suited for your needs.

Your mortgage broker works for you and provided you have sufficient good credit you do not pay the broker out of your pocket for their services. For the broker to get a quote for you is free of charge, if you are asked for a fee upfront move on to another mortgage broker since this service is standard and free. When you do decide to take a mortgage with the broker and it is a successful transaction the mortgage broker gets compensated by the lender you choose to go with.

Our mortgage brokers have experience working in banks and other financial institutions. That is one of reasons how we can get our clients the best rate at the highest money that you can get from any banks. We are a mortgage broker in Burnaby and other lower mainland areas, including Vancouver, New Westminster and Surrey.

FHA Mortgage Qualifying Florida, FHA qualifying is easy……

Posted by admin in MortgageJul 7th, 2010 | No Comments

 

 FHA CREDIT Qualifying

 ANALYZING THE FHA Mortgage applicants  Credit History

 Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

Minimal Down Payment and Closing costs.

Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase2 years after a Foreclosure.

To take advantage of the FHA program in Florida, Visit

www.FHAmortgageFHAloan.com

Past credit performance serves as the most useful guide in determining a borrower’s attitude toward credit obligations and predicting a borrower’s future actions. A borrower who has made

payments on previous and current obligations in a timely manner represents

reduced risk. Conversely, if the credit history, despite adequate income to support obligations, reflects continuous slow payments, judgments, and delinquent accounts, strong compensating factors will be necessary to approve the loan.

 

When analyzing a borrower’s credit history, examine the overall pattern of credit behavior, rather than isolated occurrences of unsatisfactory or slow payments. A period of financial difficulty in the past does not necessarily make the risk unacceptable if the borrower has maintained a good payment record for a considerable time period since the difficulty. When delinquent accounts are

revealed, the lender must document their analysis as to whether the late payments were based on a disregard for financial obligations, an inability to manage debt, or factors beyond the control of the borrower, including delayed mail delivery or disputes with creditors.

 

While minor derogatory information occurring two or more years in the past does not require explanation, major indications of derogatory credit–including

judgments, collections, and any other recent credit problems–require sufficient

written explanation from the borrower. The borrower’s explanation must make

sense and be consistent with other credit information in the file. Neither the lack of credit history nor the borrower’s decision not to use credit may

be used as a basis for rejecting the loan application. We also recognize that some prospective borrowers may not have an established credit history. For those borrowers, and for those who do not use traditional credit, the lender must develop a credit history from utility payment records, rental payments, automobile insurance payments, or other means of direct access from the credit provider. The lender must document that the providers of non-traditional credit do, in fact, exist and verify the credit information. Documents confirming the existence of a nontraditional credit provider may include a public record from the state, county, or city records, or other means providing a similar level of objective confirmation. To verify the credit information, lenders must use a published address or telephone number for that creditor. As an alternative, the lender may elect to use a non-traditional mortgage credit report developed by a credit-reporting agency, provided that the credit reporting agency has verified the existence of the credit providers and the lender verifies that the non-traditional credit was extended to the applicant. The lender must verify the credit using a published address or telephone number to make that

verification.

 

The basic hierarchy of credit evaluation is the manner of payments made on

previous housing expenses, including utilities, followed by the payment history of installment debts, and then revolving accounts. Generally, an individual with no late housing or installment debt payments should be considered as having an acceptable credit history, unless there is major derogatory credit on his or her revolving accounts.

 

When reviewing the borrower’s credit and credit report, the lender must pay

particular attention to the following:

 

A. Previous Rental or Mortgage Payment History. The payment history

of the borrower’s housing obligations holds significant importance in

evaluating credit. The lender must determine the borrower’s payment

history of housing obligations through either the credit report, verification

of rent directly from the landlord (with no identity-of-interest with the

borrower) or verification of mortgage directly from the mortgage servicer,

or through canceled checks covering the most recent 12-month period.

 

B. Recent and/or Undisclosed Debts. The lender must ascertain the

purpose of any recent debts, as the indebtedness may have been incurred

to obtain part of the required cash investment on the property being

purchased. Similarly, the borrower must provide a satisfactory

explanation for any significant debt that is shown on the credit report but

not listed on the loan application. The borrower must explain in writing

all inquiries shown on the credit report in the last 90 days.

 

C. Collections and Judgments. Court-ordered judgments must be paid off

before the mortgage loan is eligible for FHA insurance endorsement. (An

exception may be made if the borrower has agreed with the creditor to

make regular and timely payments on the judgment and documentation is

provided that the payments have been made in accordance with the

agreement.) FHA does not require that collection accounts be paid off as a

condition of mortgage approval. Collections and judgments indicate a

borrower’s regard for credit obligations and must be considered in the

analysis of creditworthiness with the lender documenting its reasons for

approving a mortgage where the borrower has collection accounts or

judgments. The borrower must explain in writing all collections and

judgments.

 

D. Previous Mortgage Foreclosure. A borrower whose previous principal

residence or other real property was foreclosed or has given a deed-in-lieu

of foreclosure within the previous three years is generally not eligible for a

new FHA-insured mortgage. However, if the foreclosure was the result of

documented extenuating circumstances that were beyond the control of the

borrower and the borrower has re-established good credit since the

foreclosure, the lender may grant an exception to the three-year

requirement. Extenuating circumstances include serious illness or death of

a wage earner, but do not include the inability to sell the house because of

a job transfer or relocation to another area.

 

E. Bankruptcy. A Chapter 7 bankruptcy (liquidation) does not disqualify a

borrower from obtaining an FHA-insured mortgage if at least two years

have elapsed since the date of the discharge of the bankruptcy.

Additionally, the borrower must have re-established good credit or chosen

not to incur new credit obligations. The borrower also must have

demonstrated a documented ability to responsibly manage his or her

financial affairs. An elapsed period of less than two years, but not less

than 12 months, may be acceptable if the borrower can show that the

bankruptcy was caused by extenuating circumstances beyond his or her

control and has since exhibited a documented ability to manage his or her

financial affairs in a responsible manner. Additionally, the lender must

document that the borrower’s current situation indicates that the events

that led to the bankruptcy are not likely to recur.

 

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining

an FHA-insured mortgage provided the lender documents that one year of

the payout period under the bankruptcy has elapsed and the borrower’s

payment performance has been satisfactory (i.e., all required payments

made on time). In addition, the borrower must receive permission from

the court to enter into the mortgage transaction.

 

F. Consumer Credit Counseling Payment Plans. Participation in a

consumer credit counseling payment program does not disqualify a

borrower from obtaining an FHA-insured mortgage provided the lender

documents that one year of the pay-out period has elapsed under the plan

and the borrower’s payment performance has been satisfactory (i.e., all

required payments made on time). In addition, the borrower must receive

written permission from the counseling agency to enter into the mortgage

transaction.

 

FHA Loan to Buy a Florida Home ? FHA Mortgage Florida

Posted by admin in MortgageJul 7th, 2010 | No Comments

FHA Loan to Buy a Florida Home – FHA Mortgage Florida
Backed by the Government and insured by HUD, the FHA home loan program is a safe secure way to buy a Florida home!

FHA Mortgage Program Overview – Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

www.FHAmortgageFHALoan.com

 

Minimal Down Payment and Closing costs.

Down payment less than 3.5% of Sales Price Gifts are allowed
Seller can credit up to 6% of sales price towards closing and prepaid costs.
100% Financing available
No reserves required.
FHA regulated closing costs.

Easier Credit Qualifying Guidelines such as:

  No minimum FICO score or credit score requirements.
FHA will allow a home purchase 2 year after a Bankruptcy.
FHA will allow a home purchase 3 years after a Foreclosure.

To take advantage of the FHA program in Florida, give us a call 1-800-570-0448 begin_of_the_skype_highlighting              1-800-570-0448      end_of_the_skype_highlighting or use our quick application to find out more about the many FL mortgage programs we can make available. Or Apply now for a FL FHA home loan.

The FHA mortgage program for Florida home buyers can make the dream of owning a Florida home a reality for many people who would never have thought they would qualify for the purchase of a Florida home. If you’re in the market to purchase a new or existing home, the FHA home loan is a great program to consider.

This government FHA backed mortgage program is insured by HUD and designed to make Florida home ownership more affordable for everyone. The FHA mortgage program has underwriting guidelines that are designed to make it easier to qualify for than conventional loans. Since the Florida FHA home loan is government backed and insured, is comes with low interest rates and terms that are designed to protect you.

One of the most important features of the Florida FHA loan program is the fact it does not ask that you have perfect credit score to get the best rate and maximum amount financed. In fact, FHA lending guidelines state that a mortgage applicants credit score should not be used as a factor in underwriting an Florida FHA loan. What does this mean? Florida homebuyers with lower credit scores can use the Florida FHA mortgage program to attain 96.5% financing and a great low interest rate! Have great credit? That’s OK, you’ll still get a great low interest rate and you’ll be able to purchase a Florida home with up to 96.5% of the purchase price or appraised value, whichever is less. You will not be able to finance that much with a conventional homeloan.

So what types of Florida homes may be purchased using an Florida FHA mortgage? Almost any – Florida single family homes, Florida mobile & modular home loans, condominiums, town homes and more. To learn more about properties you can finance with our many Florida mortgage programs, apply online today using our quick application.

As a Florida homebuyer your still not convinced about the FHA loan? Take a look the full range of benefits you receive as a Florida loan applicant just for using the FHA loan program:

Easier qualification with less then perfect credit.
Low interest rates compared to conventional mortgage programs
Adjustable and fixed rate loan options
2/1 buy down option
Everyone is eligible
Lowest down payment for an open ended mortgage program – as low as 3.5% (USDA has income caps and significant property restrictions)
Up to 6% in seller concessions towards closing costs
Credit score not a factor – only credit quality
30 year and 15 year mortgage financing terms
Higher debt ratios than conventional loans
Fully assumable
Non-occupying co-borrowers permitted
Streamline refinance at a later date
Rehab a property with a 203k loan
Reverse your mortgage during retirement

We are FHA mortgage experts in the government backed HUD insured Florida FHA mortgage program and can help guide you through the process of becoming a homeowner! Contact us today to get started! Call 1-800-570-0448 begin_of_the_skype_highlighting              or use our quick application for a no-pressure and no-obligation quote on your Florida mortgage or refinance.

Serving These Fine Florida Communities:

Arcadia :: Boca Raton :: Boynton Beach :: Bradenton :: Brandon :: Cape Coral :: Clearwater :: Clewiston
Crestview :: Daytona Beach :: Deerfield Beach :: Deland :: Delray Beach :: Deltona :: Destin :: Englewood
Fort Pierce :: Ft. Lauderdale :: Ft. Myers :: Ft. Walton Beach :: Gainesville :: Hollywood :: Homosassa Springs
Jacksonville :: Key West :: Kissimmee :: Lake City :: Lakeland :: Lynn Haven :: Marathon :: Marco Island
Melbourne :: Miami :: Miami Beach :: North Fort Myers :: North Miami Beach :: Naples :: Ocala :: Okeechobee
Orlando :: Ormond Beach :: Osprey :: Palatka :: Palm Bay :: Palm Beach :: Palm Coast :: Panama City :: Pensacola
Pompano Beach :: Port St. Lucie :: Punta Gorda :: Santa Rosa :: Sarasota :: Sebastian :: Sebring :: Springhill
St. Augustine :: St. Petersburg :: Tallahassee :: Tampa :: The Villages :: Titusville :: Venice :: Vero Beach
Wauchula :: Wesley Chapel :: West Palm Beach :: Winter Park

 

Taking the Guesswork Out of Adjustable Rate Mortgages

Posted by admin in MortgageJul 6th, 2010 | No Comments

Next to critiquing the decorating taste of your home’s previous owner, playing the “adjustable mortgage game” may rank as one of the most popular (and least pleasant) pastimes of Canadian homebuyers.

Here’s how it works.

As you’re exploring your mortgage options, you review the long and steady slide of mortgage rates in Canada over the last decade and make the decision to go with an adjustable mortgage when you buy, at renewal or when refinancing. You’re now a player. Then you watch for clues about mortgage rate movement, trying to guess the perfect moment to lock in your mortgage. The objective of the game is to try to guess the bottom… and you won’t know it’s the bottom until it’s too late. In today’s low rate environment, we should acknowledge that most of the players are already winners; but it can still be a stress-inducing game.

One way to remove all of the guesswork is to consider a capped-rate adjustable mortgage, although there are only a few options available in the marketplace.

There is a unique adjustable mortgage that is not based on the Canadian Prime Rate (the usual benchmark) – but on what is known as the Banker’s Acceptance rate: a benchmark that is used for professional money managers. In effect, the BA rate, as its known, is the rate lenders charge one another.

Not surprisingly, it’s typically much lower than prime. In fact, the effective rate of this adjustable mortgage has been consistently lower than competitive variable or adjustable rate products based on Prime. A capped version is now available.

An adjustable rate mortgage with a cap offers unlimited downside rate movement, but also provides a guarantee that the rate will never rise more than a certain percentage higher than the starting base rate – no matter what happens to the lending rates.

The rate cap takes the guesswork out of the adjustable mortgage game. If rates continue to drop, your Mortgage rate also drops accordingly. But if rates begin to rise, you know that your own mortgage rate has a fixed ceiling. Imagine, no more worrying about when to lock in your mortgage, and no more second-guessing your decisions when rates go back down again. Of course, this kind of flexibility comes at a small premium over a regular adjustable-rate mortgage.

In the past several years, more and more Canadians have passed on the security of traditional fixed-rate mortgages for the savings potential of an adjustable rate. And in an environment of dropping rates, the adjustable rate choice has proven its value to homebuyers. With today’s rates among the lowest in memory, many homeowners continue to worry about whether or not they should lock in or not. After all, we don’t want to lose the flexibility of having our rate adjustable downward… but we’d also like to have it fixed upward.

If we had a crystal ball, we could make perfect decisions about our mortgage options, and we’d know how to secure the best rate. But a mortgage that passes on declining rates and has a rate cap on the upside can be the next best thing to seeing into the future. And the result is an adjustable mortgage game that the homebuyer is heavily favoured to win.

Getting Help With the Tom Martino Troubleshooter Mortgage

Posted by admin in MortgageJul 6th, 2010 | No Comments

Tom Martino has been an advocate of consumer rights for more than 30 years. Now, Tom Martino mortgage help is being offered trough the Tom Martino troubleshooter mortgage referral system.

The Tom Martino troubleshooter mortgage referral system has grown out of Tom Martino’s troubleshooter.com and referrallist.com. The members of the Tom Martino troubleshooter mortgage referral network must meet the strict consumer-centric standards set by Tom Martino. And, the Tom Martino troubleshooter mortgage referral system is just one of the services of the troubleshooter network. In addition to the troubleshooter home loan, Tom has many types of business and other service providers. Tom is nationally known as a trustworthy resource for business location and good service.

Why You Should Use a Tom Martino Troubleshooter Mortgage

First to know, the Tom Martino mortgages are not provided by Tom Martino or the troubleshooter network. When people talk about a Tom Martino troubleshooter mortgage or a Tom Martino home loan they mean that the lender is a member of the troubleshooter mortgage network. The company has met Tom Martino’s mortgage standards for ethical practices, customer service, and reliability. A Tom Martino mortgage, then, has met the troubleshooter stamp of approval.

How a Home Loan Provider Becomes A Troubleshooter Home Loan Provider

To get onto the Tom Martino troubleshooter mortgage lender or broker referral list, a company has to live up to the strict standards set by Tom Martino and his network. It’s not easy. Tom Martino requires companies to:

•Be prescreened before getting the Tom Martino home loan badge of approval

•Be monitored during the entire period of their inclusion on the Tom Martino mortgage referral list

•Stick to a strict code of ethics set by Tom Martino

•Keep a track record of great customer service to become a troubleshooter home loan member

•Agree to settle customer disputes along with the Tom Martino mortgage

arbitration team.

Troubleshooter home loan members who don’t do this are taken off the referral list and stripped of the honor of being able to have the troubleshooter mortgage badge.

Why You Can Trust a Tom Martino Troubleshooter Mortgage

You should be confidence that you can have trust in a Tom Martino troubleshooter mortgage. Tom and his troubleshooter network have a national following. When you are shopping for a Tom Martino mortgage, you should know that the lender has had to live up to standards to become and stay a Tom Martino troubleshooter mortgage provider. It’s not easy; it takes a commitment from the company to the standards and to the customer to be considered a Tom Martino troubleshooter mortgage provider. The great customer service of the Tom Martino home loan provider won’t be an illusion. If the company wants to be a Tom Martino home mortgage provider they have made a serious commitment about becoming customer-centric and they want to be able to provide a troubleshooter home loan that will be no trouble for the borrower.

Florida FHA mortgage refinance up to 97.75%, No MIn FICO

Posted by admin in MortgageJul 6th, 2010 | No Comments

 FHA Home Refinance Loans

Take advantage of the many benefits of FHA  refinancing your Florida home – from getting cash out, to lowering your monthly mortgage payment, to protecting your Florida home investment – our FHA mortgage refinancing programs give you financial breathing room up to 85% of your Florida  home’s value. FHA refinancing offers financial freedom, a federally insured Florida home loan, and the low fixed rate you are looking for. If you already have an FHA loan, you may be eligible for a FHA streamline refinance that doesn’t require an FHA appraisal, credit check, income verification, or a face-to-face application. visit http://www.fhamortgagefhaloan.com/ for more information

Florida FHA Mortgage Refinance

Some advantages of using a FHA mortgage for your mortgage refinance your Florida home 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 two years. Competitive rates for borrowers with a Foreclosure older than three 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.

 

APPLY NOW AT  http://www.fhamortgagefhaloan.com/

Our FHA Home Refinance Loan Benefits:

Cash Out Refinancing: Tap your Florida home’s equity with Cash Out refinancing up to 85% of your home’s value. Lower Rate Refinancing: Lower your monthly mortgage payment by reducing the interest rate on your current Florida home loan. Current Florida Home owners with current FHA loans in good standing may further qualify for an FHA streamline refinance. FHASecure is a refinancing option that gives Florida homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent and regardless of reset status, the ability to refinance into a FHA-insured mortgage. With FHASecure, you will not automatically be disqualified because you are delinquent on your Florida home loan, and you may be offered a second Florida mortgage to make up the difference between the value of your Florida home and what you owe.

FHA refinancing is only available to Florida homeowners who are currently using their Florida home as their principal Florida home. FHA mortgage  refinancing is available for Florida homeowners of single-family, multi-family homes, with verifiable income and who are able to make their Florida mortgage payment. Cash out is not available under FHA Secure.

 

 

FHA home loan Florida, FHA mortgage Florida,

Posted by admin in MortgageJul 6th, 2010 | No Comments

FHA home loan Florida, FHA mortgage Florida, Florida FHA Loans have many advantages over other financing programs including:

 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.

Apply for an FHA loan at www.FHAmortgageFHALoan.com

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 Mortgage.

At 1st Continental Mortgage, 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 to 1st Continental Mortgage to compare the costs of getting an FHA home loan for your home purchase. Call 1-800-570-0448 to speak with an FHA mortgage expert before accepting any conventional mortgage quote as the best you can do!

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 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.

Serving These Fine Florida Communities:

Arcadia :: Boca Raton :: Boynton Beach :: Bradenton :: Brandon :: Cape Coral :: Clearwater :: Clewiston
Crestview :: Daytona Beach :: Deerfield Beach :: Deland :: Delray Beach :: Deltona :: Destin :: Englewood
Fort Pierce :: Ft. Lauderdale :: Ft. Myers :: Ft. Walton Beach :: Gainesville :: Hollywood :: Homosassa Springs
Jacksonville :: Key West :: Kissimmee :: Lake City :: Lakeland :: Lynn Haven :: Marathon :: Marco Island
Melbourne :: Miami :: Miami Beach :: North Fort Myers :: North Miami Beach :: Naples :: Ocala :: Okeechobee
Orlando :: Ormond Beach :: Osprey :: Palatka :: Palm Bay :: Palm Beach :: Palm Coast :: Panama City :: Pensacola
Pompano Beach :: Port St. Lucie :: Punta Gorda :: Santa Rosa :: Sarasota :: Sebastian :: Sebring :: Springhill
St. Augustine :: St. Petersburg :: Tallahassee :: Tampa :: The Villages :: Titusville :: Venice :: Vero Beach
Wauchula :: Wesley Chapel :: West Palm Beach :: Winter Park

Serving These Fine Florida Counties:

Alachua :: Baker :: Bay :: Bradford :: Brevard :: Broward :: Calhoun :: Charlotte :: Citrus :: Clay :: Collier
Columbia :: Dade :: DeSoto :: Dixie :: Duval :: Escambia :: Flagler :: Franklin :: Gadsden :: Gilchrist :: Glades
Gulf :: Hamilton :: Hardee :: Hendry :: Hernando :: Highlands :: Hillsborough :: Holmes :: Indian River :: Jackson
Jefferson :: Lafayette :: Lake :: Lee :: Leon :: Levy :: Liberty :: Madison :: Manatee :: Marion :: Martin :: Miami-Dade
Monroe :: Nassau :: Okaloosa :: Okeechobee :: Orange :: Osceola :: Palm Beach :: Pasco :: Pinellas :: Polk
Putnam :: Saint Johns :: Saint Lucie :: Santa Rosa :: Sarasota :: Seminole :: Sumter :: Suwannee :: Taylor :: Union
Volusia :: Wakulla :: Walton :: Washington