Category Archives: Home Loans

Home Loans

VA Home Loan Hawaii

Veterans are eligible for purchasing cost effective with the help of the VA mortgage loans. These loans enable you to make purchasing and refinance 100% of the loan value. In order to qualify for this loan you should first understand what the eligibility requirements are. Many Hawaii veterans of the US military are eligible for the VA mortgages and all the veterans can take advantage of these benefits.

Through the VA mortgages you have the chance to own a property in Hawaii which is a dream come true for every American citizen. If you are having a property in Hawaii then it is a big advantage because you can retire and live in this wonderful place or you can sell it at double the profit. Veteran affairs (VA) mortgage loans have been certified by the US government and it helps to serve those war veterans who have served the country.

Hawaii VA mortgage loans are mainly designed to help those who have served in the state of Hawaii up to a certain period. VA mortgage loans help the veterans to own a house in Hawaii without placing any sort of down payment. It has very little paperwork and it helps you to pass the whole process with considerable.

The benefits of VA mortgages loans

VA mortgage loans help you to maximize your chances of owning a house in Hawaii. It helps you to skip a few steps and just go through the basic steps. The Hawaiian veterans have a standing chance of owning a house with a lot of loan benefits included into it. These loans are like a tribute to the servicemen who have given their lives to the service of the state. The VA mortgage loans are the best choice for all the Hawaii veterans who are planning to purchase a house or are trying to refinance their already existing homes in Hawaii.

The department for veteran affairs in United States was initially started in the year 1930 and it offers a list of loan benefits which includes financial benefits for both the veterans and dependents. This type of benefit is provided by the administration for veterans who have served in the state of Hawaii. When you are applying for a VA mortgage, you should always look for the pros and cons that are involved in it. You should always compare between the different VA mortgage loan types that are offered and choose the best out of it.

Basic idea of VA loans

It is important to understand that VA is not offered by mortgage lenders where FICO score is vital. The department for VA does not create any loans they just ensure that the VA mortgage loans are offered by traditional and reliable lenders. The VA administration does not guarantee the repayment of the loan by the veterans. The government’s role is to reduce the risk of any sort of payment default. Vets can be benefited from the low rates in interest when purchasing or refinancing a house. If you are trying for a VA mortgage loan then you should have the certificate for eligibility which will be accessed by the mortgage lender.

The lender will then request for income documentation like the pay stub or W2. The automated certificate will indicate the eligibility which will enable the borrowers to apply for a VA mortgage loan. The administration advices the veterans to talk with a credit counselor in order to discuss the credit issues. The VA mortgage loans are flexible and it can easily adjust with any credit situations. Veterans have a great chance for all the US army vets to own their dream home in the paradise of Hawaii.

If you are in the market for an Alabama mortgage loan or a Hawaii mortgage loan or a home loan in any part of the country find out if an ARM mortgage or a fixed rate mortgage is right for your financial situation

Home Loans

The Changing Face Of Secured Loans, Mortgages And Remortgages

The last few years have been very stormy for homeowner loans, remortgages and mortgages and for most financial products , but eventually matters seem to be improving.

Property prices is of course essential to secured loans, remortgages and mortgages.

As house prices crashed , so too did remortgages, mortgages and homeowner loans.

When a person wants to purchase a property , he needs to arrange a mortgage, and very few buyers have the finances needed to pay cash. As house prices fell so too did the requests for mortgages, as many were not prepared to move house with all the money that it costs in such unsettled times.

Whenever some one takes out a mortgage he is tied in to a deal for some years, after which in the past, many homeowners remortgaged which means the changing from one mortgage lender to another.

The reason behind this was to achieve a lower rate of interest, and sometimes extra cash was raised which could be used for almost any valid reason.

As property prices went down, many would no longer get a lower by taking out a remortgage as the equity was no longer enough to obtain a good remortgage deal.

In the same way, as remortgages and mortgages changed, so too did secured loans.

Homeowner loan lenders stopped trading one after the other at an amazing rate, going down from over twenty to less than a hand ful. The remaining lenders became so strict regarding underwriting that many homeowners were excluded from making an application.

One secured loan lender has introduced self certification of net profit for self employed applicants as long as the maximum LTV is 60% and three months bank statements are needed.

Loan to value has now been raised to 85% for employed applicants and 75% for the self employed.

Now all looks to get better with the increase of loan to values and secured loans now available at up to 85% for employed homeowners and 75% for those who are self employed.

Learn more about secured loans. Stop by Champion Finance’s site where you can find out all about remortgages for you.

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Home Loans

The FHA home loan Process Four easy steps to your FHA loan!

The FHA home loan Process Four easy steps to your FHA loan!

The FHA home loan Process Four easy steps to your FHA loan!

1. Applying for an FHA home loan.

Applying for an FHA home loan through FHAmortgageFHAloan.com is simpler than ever before. We have combined the speed and ease of the Internet with the hands on approach that our FHA home loan applicants have come to expect. Once you apply online for an FHA home loan, you are entered into our database where your FHA home loan is processed. Within 24 hours, your assigned FHA home loan officer will contact you, via e-mail or phone, to schedule your interview.

2. The FHA home loan Interview

During your FHA home loan interview your FHA home loan officer will go through your FHA home loan application to determine your eligibility. If you are unable to be pre-qualified at the time of application, your FHA home loan officer will offer you advice on how to improve your credit situation so that you may become eligible within weeks time. Within 20 minutes you will know the determination of your FHA home loan application! The FHA home loan telephone interview also serves as an excellent opportunity to get acquainted with your FHA home loan officer. Your FHA home loan officer plays an important role throughout the FHA home loan process. Good communication with your FHA home loan officer will increase your chances of FHA home loan pre-approval and speed the processing of your FHA home loan!

3. FHA FHA home loan Processing

The processing of an FHA home loan involves the gathering of documents to verify all information inputted in your FHA home loan application. This includes, but is not limited to; W2’s, paystubs, credit report, bank statements, etc. When your FHA home loan pre-qualification is sent to you (after your interview) it will include a checklist that is specific to your file. This checklist will state all the items that you must submit to your FHA home loan officer in order to receive your FHA home loan commitment!

4. Closing your FHA home loan

The closing is the “end of the line” in obtaining a FHA home loan. At the closing you will sign all FHA home loan documents and take possession of your new home. If you are refinancing, you will not take possession of a new home, but you will get a lower interest rate, cash out, or both!

Apply Now at

http://www.fhamortgagefhaloan.com/

 

FHA loans make it Easy to buy a Florida home.

FHA loans have been helping Florida homebuyers become homeowners since 1934. How does FHA help? The Federal Housing Administration (FHA) – which is part of (HUD), provides mortgage insurance to insure private lenders against loss. The mortgage insurance allows private Florida lenders to lend up to 97% of the purchase price and allows financing with No Minimum credit score requirement for Florida homebuyers.

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 loans with terms that make it easier for you to qualify.

Minimal Down payment Requirements – FHA loan can work with as little as 3% down and those funds can come from a family, grant , or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that there are many Florida down payment assistance programs to help you with the down payment.

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 loan lates get approved every day for FHA loans to buy or Refinance homes in. The FHA loan program uses credit quality, not credit score!

Lower Cost Over the Life of the Loan – Florida FHA home loan rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the Florida borrower.

Safeguards for Borrowers Who Get Behind – FHA loans 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 loan.

Options for Manufactured Housing – Under certain conditions, you can even secure an FHA loan for a Mobile Home or manufactured home using a Florida FHA mortgage loan.

FHA Loans Are Fully Assumable – When you are ready to sell your Miami home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.

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

Answers to Mortgage Questions Whether Refinancing or Buying, We
Deliver Good Answers to Great Questions!

First Time Home Buyer Programs

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Private mortgage insurance (PMI) tips & how it can determine how much house you can afford. Find out how in this video on buying a home.Expert: Brett Staggs Bio: Brett Staggs has been working in the mortgage industry for the past 6 years. He has worked for a title company, a credit reporting company, and two major banks. Filmmaker: Dana Glover
First Time Home Buyer Programs
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Home Loans

Benefits In FHA Loans

When it comes to qualifying for a mortgage loan, there are many different types of programs available. With the many different mortgage programs available, it is important to choose the best program for your particular home loan needs.

One of the home programs you can choose from is a FHA mortgage loan. This type of program is designed for 1st time home buyers. FHA home loans can be used to purchase a primary residence or refinance an existing mortgage. Below are the many benefits to the FHA program.

Reduce Down Payment

A FHA mortgage loan offers buyers a program with a lower down payment. The current minimum down payment for a FHA home mortgage loan is 3.5%. The source of the funds for the down payment can also come from many different sources including a gift from a family member or church, a 401K loan or withdrawal, and any money saved up in a checking or savings account. By allowing the down payment to come from many different sources, the FHA mortgage program helps buyers purchase their new home.

Seller Paying up to 3% Closing Cost

FHA loans also allow the seller to contribute up to 3% towards buyers closing cost. This is extremely important in assisting a buyer purchase a new house and reducing the amount of money needed for closing. Sellers can pay closing cost, prepaid items like taxes and home insurance as well as interest on the loan. For example, if a buyer purchases a home for $100,000, the seller can contribute $3000 towards the buyers closing cost.

Reduce Mortgage Rates

For many clients, FHA home mortgage loans offer the most competitive rates. FHA home loan rates are not tied to credit scores like the way conventional home mortgage loan rates are. For example, if a homebuyer has a credit score of 660, the FHA home mortgage loan the rate would be same if their score was 740, but on a conventional home loan, the credit score of a 660 compared to a 740 would see an increase of about .75% to the rate.

Mortgage Insurance

Another benefit in the FHA mortgage loan program is the approval of mortgage insurance. FHA home loan mortgage insurance is approved as long as the home mortgage loan is approved. This is not the same when it comes to a conventional home loan. Many times, a borrower can be approved for a conventional mortgage loan, but will not be approved for mortgage insurance. This results in the loan being turned down, but with a FHA mortgage loan, as long as the loan is approved, mortgage insurance is approved. Also, the monthly mortgage insurance payment for a FHA home loan is usually less than the private mortgage insurance offered on conventional home mortgages.

Home Loan Size Limits

FHA home mortgages do have set loan limits that are established by HUD. To determine the loan limit in your area, contact your mortgage loan officer. For example, in the Dallas – Fort Worth area, FHA loan limits are $271,050.

Streamline Refinances

Finally, another benefit to a FHA mortgage loan is the ability to do a streamline refinance. A streamline refinance is when a homeowner refinances an existing FHA home loan into a new FHA mortgage. The streamline refinance program allows the client to refinance with limited paperwork. Though, it might be in the best interest of the homeowner to consider a full refinance over a streamline. Consult a mortgage loan advisor to see which program is best for you!

FHA loans are a great way to refinance or purchase a house. It is important to understand the benefits of each mortgage program that you qualify for and to make sure you are getting the best possible home loan.

David White is a mortgage officer with over 10 years experience. He specializes in FHA Mortgage Loans. Begin the FHA Home Loan process today. This article, Benefits In FHA Loans has free reprint rights.

Home Loans

With Secured Loans And Remortgages You Will Never Lose Out In A Good Deal Again

People off and on feel the need to borrow money, that is take out a loan, they have something specific that they want to buy or to do with the money that they receive in the loan funds.

The average person takes out a loan to buy a car every so often, normally every second year or there abouts and generally the loan for the car is arranged as hire purchase by the dealer ship involved. Most couples own a car each and their children who are old enough to drive also often are car owners these days.

Another very specific purpose for borrowing money is to carry out home improvements and most do not have enough ready cash, and those who do often prefer to keep it safe and sound in the bank in case they need it for a rainy day.These days people like a comfortable home, and as such the average person pays out a lot of money to maintain their home to the standards that they want

An attic conversion for example is very expensive, and those who can afford to pay for the work out right are few and far between

The car, the home improvements, etc. are so expensive that there are not many people with sufficient means to fund the purchase themselves

Taking out loans like this need of course advance planning

If some one is strolling down the high street one day and sees that fitted bedroom furniture is half price in a sale and it is the furniture that they have always wanted, without the required money in their pocket they would lose out on a great bargain.

A good idea for homeowners is to always have the ready money to hand by arranging a remortgage or a secured loan and putting the money in the bank to spend when a bargain of anything crops up.

In the same way if you looked at your local paper and saw a private sale of a car that was very reasonably priced and was in fct your dream car you would not be in a position financially to buy it and could therefore lose the chance of a life time.

Homeowners should arrange remortgages or secured loans and put the money raised aside for such an event

Want to find out more about debt consolidation loans, then visit Champion Finance’s site on how to choose the best debt advice for your needs.

Home Loans

3 Secrets To Be Mortgage Free

Would you like to be mortgage free in less than one half the time? Would you like to get rid of that ball and chain once and for all?

Your options would surely open up without being tied down to that monthly mortgage. Wouldn’t you agree?

Why would you want to pay off your mortgage faster? Let’s look at an example of a typical 30 year mortgage on a loan amount of $200,000 at a 6% interest rate. Your monthly payment will be approximately $1,199. You will make 360 payments over the course of the loan and you will have paid an additional amount in interest on top of your principle, of around $231,677.

Add the original principal and you paid out a sum of $431,677.00

There are basically 3 ways to pay off your mortgage fast:

1) Send in extra cash each month with your mortgage payment and request that it be applied to the principal or sign up for a Bi-Monthly payment plan, where you in essence make two payments in half the amount each month. What happens here, is that at the end of the year you will have made one full extra payment which will be applied to pay down your principle balance.

Second, you can do a mortgage refinance loan at a reduced rate.

Third, utilize a Home Equity Line (heloc) account. Using this second loan (you have to learn how), you can successfully reduce your original mortgage amount.

These three pay down strategies are great, but the third is head and shoulders above the others.

One challenge is that most of us simply don’t have extra money at month end to send towards our principle. And to make this strategy effective, you have to do it in a consistent fashion.

2nd: Since the 30 yr loan has it’s interest calculated only once every 30 days, the banks are getting rich holding on to our money each month until they need it to apply as per our request.

And finally, it is simply not recommended to keep refinancing the loan. Each time we do it, we pay large fees and points.

It is now easier, because of computers, to eliminate our mortgage fast, by utilizing the latest technology.

Many families today are flocking to an interest-reducing program that combines innovative software with banking systems that have been around for decades, to pay off their mortgages in 1/2 the normal time and in many cases even 1/3rd the time.

In Australia, over 1/3rd of the mortgages are structured this way. A few years back, billionaire entrepreneur, visionary and founder of Virgin Records, Sir Richard Branson, brought it to England. Now it is available in the great USA.

The wrong way is to get paid, deposit your income, pay your bills at the beginning of the month and save what is left over. The reason, is because when we do this we overpay way too much in interest on the principal amounts of the various loans we have.

The traditional way is no longer effective. Now we can use a Bank Line Of Credit or Heloc and have a powerful software program direct us on how to pay off that mortgage extremely fast, using no additional money or changing our lifestyle. You really must see this to believe it. Want to lose your mortgage super fast?

Would you like to save tens of thousands of dollars in interest and eliminate years of wasted interest payments?

Explore these methods. Change the way you look at having a long term mortgage loan. You will be glad you did your homework on this one.

My best-selling book 3 Secrets Of Millionaires, has a full chapter that discusses this one, extremely powerful, strategy, with examples, and indepth instructions. You can also get a print out regarding your mortgage and how fast you can pay it off. Wait until you see how many $1,000s of dollars you get to keep.

Learn more about how to eliminate your mortgage faster and become debt free. Stop by and pick up Mike’s best-selling book 3 Secrets Of Millionaires and implement 3 simple methods that can help you retire filthy rich.

Home Loans

Change Your Life with an FHA Home Loan

Change Your Life with an FHA Home Loan

Change Your Life with an FHA Home Loan

If you are a Florida first-time home buyer or have bought a Florida home before and have less than perfect credit you have come to the right place. At http://www.FHAmortgageFHALoan.com our FHA mortgage Loan Specialists will take you through the FHA home loan process step-by-step.

With an FHA mortgage Loan you can:

Purchase a Home with only 3.5% down payment. Remodel Your Home Make Home Repairs Make Energy-Efficient Improvements

FHA Loans are guaranteed loans, which means that FHA mortgage lenders will offer you lower, more affordable rates. Even if you have less than perfect credit or are a Florida first time home buyer, an FHA Loan can help you save money on the Florida home of your dreams.

FHA mortgage Florida , FHA loan Florida

  Minimal Down Payment and Closing Costs.

Down payment less than 3.5% of Sales Price 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:

Minimum FICO credit score of 540. FHA will allow a home purchase 2 years after a Bankruptcy. FHA will allow a home purchase  3 years after a Foreclosure. 

Higher Debt Ratio’s than other home loan programs.

Less than two years on the job is allowed. Self-Employed individuals o.k.

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

FHA Loan Programs Florida

At one point and time many years ago, the FHA loan was the only alternative to local  bank financing for Florida home buyers. In the fashion world, there is a saying: Wait long enough, and everything comes back into style. That rule applies just as well to Florida FHA mortgage program. Long-overlooked, the FHA home loan is becoming popular again with Florida Home Buyers for its low rates and the real security it provides Florida mortgage applicants.

For Florida banks and other mortgage lenders, FHA mortgage loan financing offers the security of a government insured Mortgage. Win/Win! To learn more, call today at 1-800-570-0448 or just use our fast and easy quick application!

For Florida first time home buyers and other borrowers, the FHA home loans can have key advantages:

Easy Qualification – The FHA mortgage insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you’re likely to find FHA loan with terms that make it easier for you to qualify.

Minimal Downpayment Requirements – FHA loans can work with as little as 3.5% 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 mortgage 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 mortgage rates are extraordinarily competitive. FHA’s lower risk to the lender means a better rate for the borrower.

Safeguards for FHA Mortgage applicants Who Get Behind – The Florida FHA  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 FHA Mortgage 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 home loan.

Manufactured Housing – Under certain conditions, you can even finance a Mobile Home or manufactured home using a Florida FHA home 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 Mortgages Are Fully Assumable – When you are ready to sell your Florida 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.

FHA Home Loans for Purchasing or Refinancing 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!

FHA Home Loans Offer the Convenience of Streamlined Refinance

An FHA streamline refinance is one of the easiest home loans for Mortgage Lenders and borrowers. Since HUD approved you for the original FHA loan, the paperwork to refinance is minimal and the process is simple.

So long as you have made your FL FHA loan mortgage payments on time for the previous 12 months, you can lower your monthly payment if interest rates go down with minimal out of pocket expense. Even if you have been late on your FHA mortgage, you might still qualify for an FHA streamline refinance in Florida under very specific conditions.

Less documentation and no appraisal are just two of the reasons a FHA streamline refinance is cheaper and faster for the borrowers who qualify.

FHA Mortgage Loan Streamline Refinance Requirements

When your 1st Continental Mortgage lender helps you get a streamlined FHA refinance on your existing mortgage loan, he or she will make certain that you meet these conditions:

Your current mortgage must be an FHA mortgage. You must have had your FHA Mortgage for at least 6 months. You must have paid your mortgage on time for the most current 12 months. Your FHA Streamline Refinance must lower the principal and interest portion of your mortgage payment by at least or convert the mortgage from an ARM to a fixed rate FHA home loan. You can’t get cash out on the FHA streamline refi. You must have an FHA appraisal if you are rolling the closing costs into the FHA streamline refinance. Any existing liens on your Florida home must be subordinate to the new FHA mortgage. FHA Mortgage Loan Refinance Programs for Cashing Out Equity

Although a streamline refinance does not allow you to cash out equity, we have a FHA loan refinance program that is specifically designed for borrowers who want to cash out equity to consolidate debts, make home improvements or to access funds for other purposes.

Unlike many conventional loan programs, the FHA mortgage does not adjust the rate based upon loan to value or credit score. You will find the FHA has very reasonable underwriting guidelines for cash out refinancing.

We have helped many clients borrow up to 85% of the appraised value of their homes and use the funds to consolidate debts or to make home improvements and other purposes. Qualified borrowers will have to look hard to find lower rates and better terms than they can get on Florida FHA cash out refinance right now!

Call 1st Continental Mortgage today at 1-800-570-0448 or use our quick application to apply for an FHA refinance on your home in Sumter County or any of the other Florida counties we offer FHA mortgages in.

FHA Home Loans For Mobile Homes with Land

Although some conventional lenders in Florida shy away from making a loan on Mobile Homes or manufactured homes, many FHA mortgage loan lenders do not.

In fact, mobile homeowners fortunate enough to connect with a Florida FHA mortgage lender, who is well schooled in how FHA loans work for mobiles and manufactured homes, can get a better interest rate, better terms, and a lower monthly payment by going FHA in nearly every case.

If you’re shopping for financing to buy a mobile or manufactured home on land in Sumter County or any of the other 66 counties in Florida that we serve, call 1-800-570-0448 and let us give you a quote for an FHA mortgage loan to purchase your mobile or manufactured home.

It only takes a few minutes to get an FHA loan mortgage quote on your Florida mobile home. We’ll wager that the savings on your monthly mortgage payments will make it some of the highest paid work you’ve ever done.

Few people realize that the FHA mortgage loan uses the same underwriting criteria for single and double wide mobile homes and manufactured housing as it does for traditional site built block or stick homes. In addition, FHA is one of the very few programs that can offer up to 97% financing on mobile homes on land. In addition, did you know that the seller can contribute up 6% toward your closing costs on an FHA mobile home loan and that down payment assistance can be used in Florida? It’s true! You could package your mobile home financing to create a real no money down loan with unbelievably low rates.

Call 1-800-570-0448 or use our secure online quick application for a free no obligation quote on financing your manufactured or mobile home using an FHA mortgage loan.

FHA Mobile Home Lending Guidelines

The Department of Housing and Urban Development (HUD) sets forth these guidelines for determining if a mobile or manufactured home qualifies for an FHA mortgage loan in Florida:

The mobile or manufactured home must be constructed in accordance with the Federal Manufactured Home Construction and Safety Standards. A red tag is attached to the rear of each section of homes that comply with the standards. The home must be taxed as real estate by the local tax assessor’s office. The mobile or manufactured home must have been built after June 15, 1976. The mortgage must have a term of at least 30 years from when amortization begins. The mobile home or manufactured home must be on a permanent foundation. The axles and tongue must be removed from the mobile or manufactured home. The mobile home or manufactured home must have adequate skirting and insulation, and the crawl space must have adequate ventilation.

If you would like to determine if your mobile or manufactured home meets the guidelines for section 184 financing from FHA, call one of our Florida mortgage pros at 1-800-570-0448. We’ll be glad to help you determine if the property that you are interested in can be used as collateral for an FHA mobile home mortgage.

FHA 203k Mortgages For Florida Homeowners Making Home Improvements

The FHA 203k loan program is nothing more than a specialized FHA home loan designed to help homeowners make home improvements. It is especially popular in neighborhoods with properties in need of rehabilitation.

The FHA 203k loans work in Florida communities in much the same way as Construction loans for home improvement. Eligible borrowers can use the proceeds from these FHA mortgage to renovate and improve their primary residences.

Qualifying for a 203k FHA mortgage uses the same guidelines as a standard FHA mortgage for the purchase of a Florida home.

Target Borrowers for FHA 203K Mortgages

This specialized FHA mortgage is for Floridians who wish to buy a home that needs repairs or renovations. Just as is the case with a conventional construction loan, a single FHA 203k loan covers both purchase of the Florida real estate and renovation. FHA 203K financing can be used to purchase a property on a site and move it to a new foundation on the mortgaged property and rehabilitate it.

In addition, Florida homeowners can also use a 203k FHA mortgage to refinance existing debt when they finance one or more home improvements using the FHA 203k mortgage program.

Many borrowers are finding out what a good deal a Florida FHA home loan really is. Call 1-800-570-0448 today or simply use our quick application to find out more!

 

First Time Home Buyer Programs

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Home Loans

Vermont Biweekly Payment Home Loan

With a biweekly payment mortgage, half monthly payment for mortgage could be made every 2 weeks instead of making one payment just once in a month. It would result in paying off the mortgage quickly that would likewise result into lower overall cost of interest owing to your FICO score. For instance, this type of payment structure could pay off a 30 year fixed loan at 7 percent in about 24 years with various interest savings.

Would the lender do it for you?

This would depend on whether your lender offers with this service or not. However, it is advisable to consider switching to paying twice a month plan by following simple guideline. Firstly, be leery of the lenders who keep forcing you to convert to this payment plan. It would take rocket scientist for figuring out that the lenders who stand loosing thousands dollars in the interest payment wouldn’t ever beg for this conversion. If they are found doing so then you can stay reassured that they have probably figured a way out for making profit from your conversion plan.

Popular biweekly payment mortgage plans

For instance, few lenders offer with twice a week plans to the customers simply to keep ahead of the competitors. They could charge customers with a larger set up for free for conversion of the payment plan. The lenders offering services under carefully worded ad that would allow them collecting the payments under umbrella of the biweekly payment mortgage schedule but in real they would only apply for the payment for your account just once a month. Yet another popular maneuver

They provide with supposedly quarterly payment option which is known as pay 52 plan. This plan would withdraw of 1/4th of mortgage payment from the bank on weekly basis. It would give an impression which would apply amount every week to the mortgage loan balance. It would appear that lenders simply sit on the mortgage payment until they would collect the whole mortgage amounts and only that would apply to the mortgage.

However, on flip side there are various mortgage companies that do collect the payment and pay it off right away. However, there are some of them playing games.

What could be done for leveraging tables while considering biweekly payment mortgage plans?

There are the third party organizations which provide with services for the homebuyers. There isn’t any conflict of the interest. It is eliminated from start. Secondly, some of the lenders would offer with beneficial services which track savings and the audits the loan for finding lenders the mistakes occurring of about fifty percent of time as per F.D.I.C. So also note that the companies collecting payments via automatic debits and submitting payments without causing any trouble to you. Most of the third party organizations would charge small set up and a processing fee every month. However, some companies would offer this service for free.

Despite of the free services offered by these collection companies, you are required to pay electronic processing fee that would automatically get deducted every month from your account. Therefore, in essence you wouldn’t get service hundred percent free service. You are sure to save quite a great deal on the monthly payment with biweekly payment mortgage plan.

While living in Vermont, no matter where you live whether in Colchester, Burlington, Manchester, Montpelier, Woodstock, Stowe, Killington, Marlboro, Barton or West Rutland, you can easily find biweekly payment mortgage plan offering lenders. Look out for companies that would help you to save money on monthly payment on mortgage.

If you are in the market for an Alabama mortgage loan or a Missouri mortgage loan or a home loan in any part of the country find out if an ARM mortgage or a fixed rate mortgage is right for your financial situation

Home Loans

Graduate Home Loan In Indiana

Graduated mortgage payment means mortgage on which payment starts at a low rate and then rises over the time. As initial payment is used for getting qualified at the borrower, Graduated mortgage payment would allow those borrowers to get qualified who do not get qualified with the standard fixed rate mortgage.

Graduated mortgage payment would allow stretching the mortgage dollars. This would further allow purchasing an expensive property than the property that you normally would be able to. Such a loan type has several advantages so also disadvantages. Main advantage of borrowing graduated mortgage payment is that there would be a lower initial monthly payment.

There are many types of mortgages available. Therefore, it is important to find mortgage that are best suitable to you. The mortgages and interest rates could vary from one to another swayed one way or another base on your credit report or FICO score for loans. Remember that the interest rate too change very frequently. Therefore, it is best to contact various mortgage lenders and compare their rates and services offered. Graduated mortgage payment might be a great option for you. There are many lenders offering with an array of mortgage types in Indiana.

Interest only graduated mortgage payment

Interest only graduated mortgage payment would have a lower initial payment. Such a loan type would mean that loan principal isn’t being paid down. it would mean that whatever point of loans needs to get start being paid down, it would be done over remaining term of the loan.

Negative amortization graduated mortgage payment

Negative amortization graduated mortgage payment is a negative amortization type of loan. In this loan, one can pay a little less than interest only amount of loan. This is the minimum payment option of loan. The balance of the loan would gradually increase over the time. As the loan is increasing in its size over the time instead of declining, loan is termed as negative amortization. For the borrowers, this could be right if property value would increase at higher rate than loan size increasing.

Getting approved for graduated mortgage payment

At the most basic, mortgage lenders would compare the monthly debts to the monthly income. The monthly debts could include the student loans, car payments, credit card payments, and other such payments. It would also include the proposed mortgage loans. The monthly income is the pre-tax income earned, including the base salary, rental income, commission bonuses and the other income sources. The lenders would compare both of these numbers before giving you the loan. The lenders mostly like seeing debts being not more than 40 percent of the monthly pre-tax income, although some of them would go as higher as 55 percent.

Getting bigger and expensive house

Most of the borrowers would have income raised over the time. The lenders would acknowledge by offering borrowers with graduated mortgage payment. This graduated mortgage payment type of loan would require paying off at higher rate for paying loan in 30 year loan term. The payment would rise over the time, as per the theory their income would. This would further allow lenders to match the income and the debts over the time, not simply in the front. Such a loan type would allow mortgage borrowers to borrow more amount than they initially were able to pay off. This would allow borrowers to purchase bigger or an expensive home than that they could normally afford.

You could be living in any part of the Indiana, be it Gary, Kingssford Heights, Carthage, South Bend, Evansville, Indianapolis, Fort Wyane, Ceder Lake, Dugger, or Switz City, you can easily locate lenders offering Graduated mortgage payment. Choose a reputed lender to find best suitable Graduated mortgage payment option for you.

If you are in the market for an Alabama mortgage loan or a Indiana mortgage loan or a home loan in any part of the country find out if an ARM mortgage or a fixed rate mortgage is right for your financial situation

Home Loans

For Florida homebuyers the FHA home loan just makes good sense

For Florida homebuyers the FHA home loan just makes good sense

FHA Mortgage Loan for Florida Homeowners

Take the proper Steps to Get Your FHA Mortgage today

 Other FHA loan Advantages Include:

Minimal Down Payment and Closing Costs.

Down payment less than 3.5% of Sales Price 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:

Minimum FICO credit score of 540. 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 mortgage at

www.FHAmortgageFHAloan.com

 

For Florida 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.

 Purchasing a Florida home is one of life’s major landmarks and for some, it is even a dream come true. At FHAmortgageFHAloan.com we understand the importance of this decision and it is our goal to make your acquisition into home ownership memorable. Regardless of whether this is your first Florida home or your third Florida  home purchase we will do our best to ensure that getting you into your new Florida home is a pleasant and memorable experience.

When you begin to seriously consider purchasing a new Florida home it is important that you follow some simple steps to make sure that the Florida home process goes smoothly.

The first thing you should do is an analysis of your debt to income ratio. This important step will let you know what type of Florida home you can afford and how much your current obligations will allow you the apply for  based on your monthly income and expenses.

The next important step in purchasing a new Florida FHA home loan is to get pre-approved for an FHA  home loan. The peace of mind that comes with knowing that your FHA mortgage loan and credit report have been approved will allow you to shop for your new FHA home with confidence. And when you find a Florida home and are ready to make an offer the fact that you have already been pre qualified for your FHA loan amount will give the seller confidence in you as a serious buyer.

About FHA Mortgage Loans

FHA guarantees eligible Florida home  loan applicants the ability to obtain FHA home loans with 3.5% down payment. FHA mortgage  loans can be fully assumable. FHA mortgage loan limits apply depending upon where the Florida home is located 

FHA mortgage loans provide for  low down payments and the easiest qualifying guidelines to make it easier for Florida homebuyers  qualify! FHA home loans are popular with Florida first time home buyers but are equally liked by  moving up buyers and Florida homeowners looking for a  Florida Rehabilitation loan. With an FHA Mortgage  loans you can borrow up to 96.5% of the purchase price of the Florida home.

The advantages of a FHA insured mortgage product to a Florida first time home buyer are many. A Florida homebuyer may apply for an FHA mortgage loan to purchase a Florida home with little money out of pocket. FHA home loan insurance permits FHA mortgage lenders to make mortgages for Florida first time homebuyers without risk. 

With an FHA home loan here are no income limitations or minimum  credit score requirements when FHA insured mortgage. This is why FHA loans are among the easiest mortgage loan to qualify for and almost  anyone can qualify as long as they have a reasonable credit history and can afford the monthly FHA mortgage payments. You can also combine FHA home loan programs with many Florida first time homebuyer down payment programs.

FHA Streamline mortgage Refinancing

The FHA mortgage has permitted FHA streamline refinances on FHA insured  home loans since the early 1980’s. The FHA streamline refinance  refers only to the amount of documentation and underwriting that needs to be performed by the FHA mortgage lender, and does not mean that there are no costs involved in the transaction.

The basic requirements of a “streamline FHA mortgage refinance”  include:

The FHA mortgage loan  to be refinanced must already be insured by  FHA. The refinance is to result in a “lowering” of the borrower’s monthly principal and interest payments. No cash may be taken out on mortgages refinanced using the “streamline” refinance process. The FHA mortgage to be refinanced should be current (not delinquent).

FHA mortgage Lenders may offer FHA streamline refinances and include the closing costs into the new FHA mortgage loan amount. This can only be done if there is sufficient equity in the Florida. FHA Streamline refinances can also be done without appraisals, but the new FHA home  loan amount cannot exceed what is currently owed, that is  FHA closing costs may not be added to the new FHA mortgage with those costs either be paid in cash or through the premium rate as described above.

 

First Time Home Buyer Programs

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