Welcome to Florida New Homes. Are you seriously thinking about buying, selling, we have thousands of houses and apartments to show, certainly now is the best time to buy. We offer a unique lending experience 25+ years’ experience in the mortgage industry, Are you considering buying or refinancing your home? If so, then you are in the right place! Easy process. Quick approvals. Exceptional service. We will provide the highest level of expertise to quickly guide you through the entire process of finding the best mortgage loan. Our goal is to help families like yours save money on your mortgage. Refinance your mortgage for a lower rate, access cash or lock in a low rate, We work with thousands of the nation's top banks, credit unions, We will make your life easier Whether buying or refinancing, our customers save thousands over the life of their loan. We work for your best interest. thank you and congratulations !!!!
#mortgage #realestate #realtor #mortgagebroker #home #realestateagent #househunting #newhome #property #investment #firsttimehomebuyer #mortgagelender #refinance #finance #homeloans #broker #loans #homeloan #forsale #homesforsale #credit #realtorlife #creditrepair #loanofficer #mortgages #homesweethome #dreamhome #realty #loan #creditscore #money #homebuyers #housing #mortgagelife #homeownership #house #mortgagerates #lender #listing #business #mortgagetips #homebuying #entrepreneur #justlisted #homebuyer #realtors #mortgageloans #lending #realestatelife #success #homeowner #mortgagespecialist #mortgageloanofficer #financialfreedom #homesale #insurance #milliondollarlisting #firsttimebuyer #downpaymentassistance #mortgagebrokers #creditcards #creditrepair #localbanks #mortgagebroker #mortgages #mortgagelender #mortgageloans #mortgagebrokers #mortgageloanofficer #mortgagerates #mortgagetips #mortgagepro #mortgagespecialist #mortgageagent #mortgagebanker #mortgagelending #mortgagelenders #mortgageadvisor #mortgageadvice #mortgageexpert #mortgageloan #mortgagefree #mortgagehelp #prestamoshipotecarios #bancos #prestamos #prestamosparaextranjeros #itinmortgage

FHA Loans is Right for you?

An FHA loan allows you to buy a house with as little as 3% down,

instead of the higher percentages required to secure many conventional loans. Taking advantage of the FHA loan program is a great way for first time buyers, or anyone with a shortage of down payment funds, to buy a home.

The FHA does not make home loans--it insures them.

If a home buyer defaults, the lender is paid from the insurance fund. To get an FHA home loan, you'll need to have a good credit history, and sufficient income to qualify for the loan.

How Much FHA Loan Can You Afford?

For an FHA loan, your monthly housing costs should not exceed 29% of your gross monthly income. Total housing costs include mortgage principal and interest, property taxes, and insurance. Those four terms are often lumped together, and referred to as PITI.

Example.

Monthly income X .29 = Maximum PITI

For a monthly income of $3,000, that means $3,000 x .29 = $870 Maximum PITI

Your total monthly costs, adding PITI and long term debt, should be no more than 41% of your gross monthly income.

Long term debt includes such things as car loans and credit card balances.

Example

Monthly income x .41 = Maximum Total Monthly Costs

For a monthly income of $3,000, that means $3,000 x .41 = $1230

$1,230 total - $870 PITI = $360 allowed for monthly long term debt

The ratios for an FHA loan are more lenient than for a typical conventional loan. For conventional home loans, PITI expense cannot usually exceed 26-28% of your gross monthly income, and total expense should be no more than 33-36%.

Qualifying for an FHA Loan

  • To obtain an FHA loan, you must have a credit background that shows you meet your obligations.

  • You must have enough income to pay your monthly debt, as outlined on page 1.

  • You must have enough cash to make a down payment at the time of closing.

  • You must be able to pay the closing costs, which normally total 2-3% of the price of the home. These costs might include homeowner's insurance, attorney's fees, fees for a title search and title insurance, Private Mortgage Insurance if you are paying less than 20% down, the loan origination fee, and a fee that goes into the FHA insurance fund.

  • You might also be paying 'points,' to the lender. Each point equals 1% of the cost of the home. Sometimes a seller will agree to pay your points, and sometimes points can be financed.

Buying a Home using a FHA Loan

The FHA loan program was created to help increase home ownership. The  FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs. Some highlights of the FHA loan program are:

  • Minimal Down Payment and Closing Costs.
  • Down payment less than 3% of Sales Price
  • 100% Financing options available*
  • 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:
  • No minimum FICO score or credit score requirments.
  • FHA will allow a home purchase two years after a Bankruptcy.
  • FHA will allow a home purchase  three 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.

These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.

You do not have to be a first time buyer to obtain a FHA loan, anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.

FHA Single Family Home Loan Program

FHA finances more Single family real estate homes than most of the other types of properties combined.  The basic single family FHA loan is called a FHA 203(B) mortgage loan.

FHA home loans has the following type of guidelines for single family homes:

  • FHA is for owner occupied homes only meaning you intend on living in the property.
  • Allowable Property Types are as follows:
    • Single Family Real Estate Homes (SFR)
    • Condo's - (approved condominium complexes less than 4 stories)*
    • PUD's - (Public Urban Developments)
  • There is no maximum sales price but there is a maximum loan amount for this type of property.
  • Any home buyer may use the FHA loan (a common misconception is that FHA is for first time buyers only) as long as they do not currently have another FHA insured loan in their name, and if they do, it must be at a LTV of more than 75% of the current value of the home.
  • You may own other rental property that is not financed by FHA   and still use a FHA loan to purchase a primary residence.
  • *Condos and Town homes must be in HUD approved projects.

FHA will finance up to 97% of the value or purchase price of any of this types of property for a mortgage refinance or when using the FHA loan program to buy a home. The actual maximum loan amount will depend what state and county the property is located.

FHA Loan Qualifying Summary

FHA loans are the easiest type of real estate mortgage loan to qualify for. The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment.

Following is the basic FHA loan qualification guidelines.

  • Two Years of steady employment, preferably with same employer.
  • Last two years Income should be the same or increasing.
  • Credit report should typically have less than two thirty day lates in last two years.
  • Bankruptcy's must be at least two years old, with good credit since.
  • Foreclosure's must be at least three years old, with good credit since.
  • Your new mortgage payment should be approximately 30% of your gross income.

These are some of the most basic of FHA guidelines for qualifying for a FHA loan.  If   you have answered yes to most of these statements, you probably qualify for a FHA mortgage loan.


Comprar Casa Prestamos Florida New Homes Orlando Florida Prestamos Inmobiliarias Prestamos Florida New Homes Comprar Apartamentos Prestamos Florida New Homes Invertir Florida New Homes Mejor Prestamos Florida New Homes Inmobiliarias Vender Florida New Homes Viviendas Florida New Homes RealtorsComprar Florida New Homes inversiones Orlando Prestamos Hipotecarios bancos financieros Orlando Florida New Homes Windermere Florida New Homes Winter Park Florida New Homes Belle Isle Florida New Homes Doctor Phillips Florida New Homes Bay Hill Florida New Homes Lake Nona Florida New Homes Maitland Florida New Homes Baldwin Park Florida New Homes Alafaya Florida New Homes kissimmee Florida New Homes hunters Creek Downtown Orlando Florida New Homes Winter Park Florida New Homes Historic Orlando Florida New Homes Maitland Florida New Homes Celebration Florida New Homes Hunters Creek Oviedo Florida New Homes Winter Florida New Homes Sand Lake Florida New Homes Dr Phillips Florida New Homes Metro West Comprart Florida New Homes Ocoee Florida New Homes Windermere Florida New Homes Metro West Comprar Florida New Homes Kissimmee Florida New Homes Lake Mary Florida New Homes Prestamos Florida New Homes Prestamos Florida New Homes bien Bienes Raices Florida New Homes Prestamos Florida New Homes inmobiliarias Florida New Homes ayuda Florida New Homes bancos financieros Florida New Homes Orlando Florida Florida New Homes Comprar Casa Prestamos Florida New Homes Orlando Florida Prestamos Florida New Homes cias Inmobiliarias Prestamos Florida New Homes Comprar Prestamos Florida New Homes Invertir Florida New Homes Mejor Prestamos Florida New Homes cia Inmobiliarias Vender Florida New Homes Viviendas Florida New Homes Realtors Comprar Florida New Homes inversiones Orlando Prestamos Hipotecarios bancos financieros Orlando Florida New Homes Windermere Florida New Homes Winter Park Florida New Homes Belle Isle Florida New Homes Doctor Phillips Florida New Homes Bay Hill Florida New Homes Lake Nona Florida New Homes Maitland Florida New Homes Baldwin Park Florida New Homes Alafaya Florida New Homes kissimmee Florida New Homes hunters Creek Downtown Orlando Florida New Homes Winter Park Florida New Homes Historic Orlando Florida New Homes Maitland Florida New Homes Celebration Florida New Homes Hunters Creek Oviedo Florida New Homes Winter Florida New Homes Sand Lake Florida New Homes Dr Phillips Florida New Homes Metro West Comprart Florida New Homes Ocoee Florida New Homes Windermere Florida New Homes Metro West Comprar Florida New Homes Kissimmee Florida New Homes Lake Mary Florida New Homes Prestamos Florida New Homes Casas Bienes Raices Florida New Homes Prestamos Florida New Homes Visas Florida New Homes inmobiliarias Florida New Homes ayuda Florida New Homes bancos financieros Florida New Homes Orlando Florida Orlando Comprar Comprar casas Apartamentos Prestamos Prestamos Florida New Homes Orlando Florida Florida New Homes Windermere Florida New Homes Winter Park Florida New Homes Doctor Phillips Florida New Homes Metro West Comprart Florida New Homes Kissimmee Florida New Homes altamonte Springs Florida New Homes Maitland Florida New Homes Casselberry Florida New Homes Lake Mary Florida New Homes Kissimmee Florida New Homes Pertamos hipotecarios Florida New Homes bancos financieros Florida New Homes Prestamos Florida New Homes informacion Florida New Homes Casas Bienes Raices Florida New Homes inmobiliarias Florida New Homes Prestamos Florida New Homes Visas Florida New Homes extranjeros Florida New Homes visas Florida New Homes abogados Florida New Homes au Florida New Homes alquiler Florida New Homes Apartamentos Prestamos especialistas Florida New Homes inversiones Florida New Homes casas Florida New Homes Apartamentos Prestamos Florida New Homes Comprar Florida New Homes Apartamentos Prestamos Florida New Homes Vender Florida New Homes alquileres Florida New Homes Orlando Comprar casas Apartamentos Prestamos Florida New Homes Prestamos Florida New Homes Orlando Florida Florida New Homes Windermere Florida New Homes Winter Park Florida New Homes Doctor Phillips Florida New Homes Metro West Comprart Florida New Homes Kissimmee Florida New Homes altamonte Springs Florida New Homes Maitland Florida New Homes Casselberry Florida New Homes Lake Mary Florida New Homes Kissimmee Florida New Homes Pertamos hipotecarios Florida New Homes bancos financieros Florida New Homes Prestamos Florida New Homes informacion Florida New Homes Casas Bienes Raices Florida New Homes inmobiliarias Florida New Homes Prestamos Florida New Homes Visas Florida New Homes extranjeros Florida New Homes visas Florida New Homes abogados Florida New Homes au Florida New Homes alquiler Florida New Homes Apartamentos Prestamos especialistas Florida New Homes inversiones Florida New Homes casas Florida New Homes Apartamentos Prestamos Florida New Homes Comprar Florida New Homes Apartamentos Prestamos Florida New Homes Vender Florida New Homes alquileres

Florida New Homes LLC 30 years of success. disclaimer