First Time Buyers Fort Lauderdale | FHA Loan Fort Lauderdale
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Federal Housing Administration Loans
An FHA insured loan is a Federal Housing Administration mortgage insurance backed mortgage loan which is provided by a FHA-approved lender. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium equal to one percent of the loan amount at closing is required, and is normally financed by the lender and then paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well.
Whether you are looking to purchase or refinance, we have the expertise needed to get you the right loan type at the lowest rate possible. We specialize in Jumbo, FHA, VA, Conventional, Foreign National, USDA, and Refinance loans.
For those looking to finance a home that exceeds the conventional loan limit, a jumbo loan is a great option. Jumbo loans usually have different requirements such as debt-to-income ratios, credit scores, and down payments than standard conventional loans.
Another option is a government sponsored loan such as FHA or VA. These loans are great for those looking to finance a home with low down payments. FHA and VA loans have been helping Americans become home owners for over 50 years.
We offer some of the lowest rates in all of Florida on conventional mortgage loans. A conventional mortgage is a loan that adheres to the guidelines created by Freddie Mac and Fannie Mae. Conventional loans are great for those looking to finance a home that is at or below conventional loan limits.