Tag Archives: FICO

FHA Manufactured home loans Florida 97%w 580 FICO

FHA Manufactured home loans Florida 97%w 580 FICO

FHA Manufactured home loans Florida 97%w 580 FICO

Under the Title I program, Florida FHA approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a Florida manufactured home and/or lot. FHA insures the Florida mortgage lender against loss if the borrower defaults. Credit is granted based upon the Florida mortgage applicant’s credit history and ability to repay the loan in regular monthly installments.

Florida manufactured 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 manufactured home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional manufactured mortgage loan. Some highlights of the Florida FHA loan program for manufactured homes  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 2 year after a Bankruptcy. FHA will allow a home purchase 3  years after a Foreclosure.

Apply today at http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml

FHA does not lend money to Florida mortgage applicants, they only insure the FHA loans made to mortgage applicants. The Florida Title I manufactured home loans are not Federal Government loans or grants. These FHA mortgage loans to Florida mortgage applicants  fixed for the entire term of the loan, which is generally 15-30 years.

Florida Modular homes or manufactured homes from top manufactures now compare in quality with homes built by better custom home builders No matter what name they go by, factory built homes cost between ten and thirty percent less than traditional site built homes. At 1st Continental Mortgage, we know why you want a fixed rate mortgage to buy a modular home in a subdivision, an FHA home loan for a manufactured home on an acre lot, or conventional home loan for a mobile home on a rural retreat. With our network of financing, we can help you get the manufactured home financing for your Florida dream home at interest rates and terms you deserve.

 Florida FHA Mobile Home loan Criteria

 General Eligibility Criteria for Florida Manufactured loan by FHA/HUD.

The Florida home must be constructed in conformance with the Federal Manufactured Home Construction and Safety Standards as evidenced by the affixed certification label. This is the RED TAG that is on the rear of each section of the Florida manufactured home. If the RED TAG is missing the house is not eligible for Section 184 financing. Only Florida manufactured homes built after June 15, 1976 will bear that seal. Florida manufactured homes built before that date are ineligible for Section 184 financing. The Florida  home must be classified and taxed as real estate (as applicable). The Florida mortgage must cover both the manufactured unit and its site or the appropriate lease documents must be in place. The Florida mortgage must have a term of no more than 30 years from the date amortization begins. The Florida manufactured home must not have been installed or occupied previously at any other Florida site or location. The finished grade elevation beneath the manufactured home or, if a basement is used, the lowest exterior grade adjacent to the perimeter enclosure, must be at or above the 100-year return frequency flood elevation. The Florida manufactured home must be permanently attached to the foundation system. Existing Florida homes must be attached to the foundation system by either cable or rebar welded to the frame rail or similar fashion. The unit must be anchored to the footing (or pier). The axles and tongue must be removed from the unit. The chassis must stay in place. The Florida home must have adequate skirting and insulation around the perimeter to prevent the crawl space area from freezing and allow proper ventilation of the crawl space. If the skirting is wood, the wood must be properly treated to prevent decay.

Purpose of the Loan

The Florida FHA loan for Manufactured homes can be used for the purchase or refinancing of a Florida manufactured home, a developed lot on which to place a manufactured home, or a manufactured home and lot in combination. The home must be used as the principal residence of the borrower.

Locating a Florida manufactured home Dealer

Florida Manufactured homes are usually purchased through Florida dealers or retailers that sell the homes. The names of lenders in your area which specialize in financing of Florida manufactured homes can be obtained from local Florida retailers. These retailers are listed in the yellow pages of your telephone directory. They have the required application forms.

Manufactured homes must comply with the Model Manufactured Home Installation Standards, and all applicable state and local requirements governing the installation and construction of the manufactured home foundation system.

An Eligible Manufactured Home Must:

Meet the Model Manufactured Home Installation Standards. Must carry a one-year manufacturer’s warranty if the unit is new Be installed on a homesite that meets established local standards for site suitability and has adequate water supply and sewage disposal facilities available.

The proceeds of a Title I manufactured home loan may not be used to finance furniture (for example, beds, chairs, sofas, lamps, rugs, etc.). However, built-in appliances and equipment and wall-to-wall carpeting are eligible for financing.

 

Answers to Mobile Home Questions

First Time Home Buyer Programs

Apply for FLorida Manufactured home loan financing at http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml,
http://www.trulia.com/blog/jimmy_joe_allen/2009/04/florida_mobile_home_loan, http://www.trulia.com/blog/thomas_martin_1/2009/01/florida_manufactured_hom, http://www.hud.gov/offices/hsg/sfh/title/repair.cfm

Article from articlesbase.com

Related Home Loans Articles

FHA Manufactured home loans Florida 97%w 580 FICO

FHA Manufactured home loans Florida 97%w 580 FICO

FHA Manufactured home loans Florida 97%w 580 FICO

Under the Title I program, Florida FHA approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a Florida manufactured home and/or lot. FHA insures the Florida mortgage lender against loss if the borrower defaults. Credit is granted based upon the Florida mortgage applicant’s credit history and ability to repay the loan in regular monthly installments.

Florida manufactured 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 manufactured home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional manufactured mortgage loan. Some highlights of the Florida FHA loan program for manufactured homes  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 2 year after a Bankruptcy. FHA will allow a home purchase 3  years after a Foreclosure.

Apply today at http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml

FHA does not lend money to Florida mortgage applicants, they only insure the FHA loans made to mortgage applicants. The Florida Title I manufactured home loans are not Federal Government loans or grants. These FHA mortgage loans to Florida mortgage applicants  fixed for the entire term of the loan, which is generally 15-30 years.

Florida Modular homes or manufactured homes from top manufactures now compare in quality with homes built by better custom home builders No matter what name they go by, factory built homes cost between ten and thirty percent less than traditional site built homes. At 1st Continental Mortgage, we know why you want a fixed rate mortgage to buy a modular home in a subdivision, an FHA home loan for a manufactured home on an acre lot, or conventional home loan for a mobile home on a rural retreat. With our network of financing, we can help you get the manufactured home financing for your Florida dream home at interest rates and terms you deserve.

 Florida FHA Mobile Home loan Criteria

 General Eligibility Criteria for Florida Manufactured loan by FHA/HUD.

The Florida home must be constructed in conformance with the Federal Manufactured Home Construction and Safety Standards as evidenced by the affixed certification label. This is the RED TAG that is on the rear of each section of the Florida manufactured home. If the RED TAG is missing the house is not eligible for Section 184 financing. Only Florida manufactured homes built after June 15, 1976 will bear that seal. Florida manufactured homes built before that date are ineligible for Section 184 financing. The Florida  home must be classified and taxed as real estate (as applicable). The Florida mortgage must cover both the manufactured unit and its site or the appropriate lease documents must be in place. The Florida mortgage must have a term of no more than 30 years from the date amortization begins. The Florida manufactured home must not have been installed or occupied previously at any other Florida site or location. The finished grade elevation beneath the manufactured home or, if a basement is used, the lowest exterior grade adjacent to the perimeter enclosure, must be at or above the 100-year return frequency flood elevation. The Florida manufactured home must be permanently attached to the foundation system. Existing Florida homes must be attached to the foundation system by either cable or rebar welded to the frame rail or similar fashion. The unit must be anchored to the footing (or pier). The axles and tongue must be removed from the unit. The chassis must stay in place. The Florida home must have adequate skirting and insulation around the perimeter to prevent the crawl space area from freezing and allow proper ventilation of the crawl space. If the skirting is wood, the wood must be properly treated to prevent decay.

Purpose of the Loan

The Florida FHA loan for Manufactured homes can be used for the purchase or refinancing of a Florida manufactured home, a developed lot on which to place a manufactured home, or a manufactured home and lot in combination. The home must be used as the principal residence of the borrower.

Locating a Florida manufactured home Dealer

Florida Manufactured homes are usually purchased through Florida dealers or retailers that sell the homes. The names of lenders in your area which specialize in financing of Florida manufactured homes can be obtained from local Florida retailers. These retailers are listed in the yellow pages of your telephone directory. They have the required application forms.

Manufactured homes must comply with the Model Manufactured Home Installation Standards, and all applicable state and local requirements governing the installation and construction of the manufactured home foundation system.

An Eligible Manufactured Home Must:

Meet the Model Manufactured Home Installation Standards. Must carry a one-year manufacturer’s warranty if the unit is new Be installed on a homesite that meets established local standards for site suitability and has adequate water supply and sewage disposal facilities available.

The proceeds of a Title I manufactured home loan may not be used to finance furniture (for example, beds, chairs, sofas, lamps, rugs, etc.). However, built-in appliances and equipment and wall-to-wall carpeting are eligible for financing.

 

Answers to Mobile Home Questions

First Time Home Buyer Programs

Apply for FLorida Manufactured home loan financing at http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml,
http://www.trulia.com/blog/jimmy_joe_allen/2009/04/florida_mobile_home_loan, http://www.trulia.com/blog/thomas_martin_1/2009/01/florida_manufactured_hom, http://www.hud.gov/offices/hsg/sfh/title/repair.cfm

Article from articlesbase.com

Find More Home Loans Articles

FHA Manufactured home loans Florida 97%w 580 FICO

FHA Manufactured home loans Florida 97%w 580 FICO

FHA Manufactured home loans Florida 97%w 580 FICO

Under the Title I program, Florida FHA approved lenders make loans from their own funds to eligible borrowers to finance the purchase or refinance of a Florida manufactured home and/or lot. FHA insures the Florida mortgage lender against loss if the borrower defaults. Credit is granted based upon the Florida mortgage applicant’s credit history and ability to repay the loan in regular monthly installments.

Florida manufactured 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 manufactured home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional manufactured mortgage loan. Some highlights of the Florida FHA loan program for manufactured homes  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 2 year after a Bankruptcy. FHA will allow a home purchase 3  years after a Foreclosure.

Apply today at http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml

FHA does not lend money to Florida mortgage applicants, they only insure the FHA loans made to mortgage applicants. The Florida Title I manufactured home loans are not Federal Government loans or grants. These FHA mortgage loans to Florida mortgage applicants  fixed for the entire term of the loan, which is generally 15-30 years.

Florida Modular homes or manufactured homes from top manufactures now compare in quality with homes built by better custom home builders No matter what name they go by, factory built homes cost between ten and thirty percent less than traditional site built homes. At 1st Continental Mortgage, we know why you want a fixed rate mortgage to buy a modular home in a subdivision, an FHA home loan for a manufactured home on an acre lot, or conventional home loan for a mobile home on a rural retreat. With our network of financing, we can help you get the manufactured home financing for your Florida dream home at interest rates and terms you deserve.

 Florida FHA Mobile Home loan Criteria

 General Eligibility Criteria for Florida Manufactured loan by FHA/HUD.

The Florida home must be constructed in conformance with the Federal Manufactured Home Construction and Safety Standards as evidenced by the affixed certification label. This is the RED TAG that is on the rear of each section of the Florida manufactured home. If the RED TAG is missing the house is not eligible for Section 184 financing. Only Florida manufactured homes built after June 15, 1976 will bear that seal. Florida manufactured homes built before that date are ineligible for Section 184 financing. The Florida  home must be classified and taxed as real estate (as applicable). The Florida mortgage must cover both the manufactured unit and its site or the appropriate lease documents must be in place. The Florida mortgage must have a term of no more than 30 years from the date amortization begins. The Florida manufactured home must not have been installed or occupied previously at any other Florida site or location. The finished grade elevation beneath the manufactured home or, if a basement is used, the lowest exterior grade adjacent to the perimeter enclosure, must be at or above the 100-year return frequency flood elevation. The Florida manufactured home must be permanently attached to the foundation system. Existing Florida homes must be attached to the foundation system by either cable or rebar welded to the frame rail or similar fashion. The unit must be anchored to the footing (or pier). The axles and tongue must be removed from the unit. The chassis must stay in place. The Florida home must have adequate skirting and insulation around the perimeter to prevent the crawl space area from freezing and allow proper ventilation of the crawl space. If the skirting is wood, the wood must be properly treated to prevent decay.

Purpose of the Loan

The Florida FHA loan for Manufactured homes can be used for the purchase or refinancing of a Florida manufactured home, a developed lot on which to place a manufactured home, or a manufactured home and lot in combination. The home must be used as the principal residence of the borrower.

Locating a Florida manufactured home Dealer

Florida Manufactured homes are usually purchased through Florida dealers or retailers that sell the homes. The names of lenders in your area which specialize in financing of Florida manufactured homes can be obtained from local Florida retailers. These retailers are listed in the yellow pages of your telephone directory. They have the required application forms.

Manufactured homes must comply with the Model Manufactured Home Installation Standards, and all applicable state and local requirements governing the installation and construction of the manufactured home foundation system.

An Eligible Manufactured Home Must:

Meet the Model Manufactured Home Installation Standards. Must carry a one-year manufacturer’s warranty if the unit is new Be installed on a homesite that meets established local standards for site suitability and has adequate water supply and sewage disposal facilities available.

The proceeds of a Title I manufactured home loan may not be used to finance furniture (for example, beds, chairs, sofas, lamps, rugs, etc.). However, built-in appliances and equipment and wall-to-wall carpeting are eligible for financing.

 

Answers to Mobile Home Questions

First Time Home Buyer Programs

Apply for FLorida Manufactured home loan financing at http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml,
http://www.trulia.com/blog/jimmy_joe_allen/2009/04/florida_mobile_home_loan, http://www.trulia.com/blog/thomas_martin_1/2009/01/florida_manufactured_hom, http://www.hud.gov/offices/hsg/sfh/title/repair.cfm

Article from articlesbase.com

www.lendinguniverse.com MOBILE HOME LOANS Texas lenders provide financing and Mobile Home refinancing also nationwide. Banks, mortgage brokers, credit unions and private investors compete for all your residential and commercial loan requirements, simply complete our simple form and we will…
First Time Home Buyer Programs
Video Rating: 5 / 5

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Florida Mobile home loan financing, up to 97% w 580 FICO

Florida Mobile home loan financing, up to 97% w 580 FICO

 Florida FHA mobile home loans  FHA Mobile Home Lending Guidelines

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

The Florida mobile or Florida 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 Florida home must be taxed as real estate by the local tax assessor’s office. The Florida mobile or Florida manufactured home must have been built after June 15, 1976. The Florida mortgage must have a term of at least 30 years from when amortization begins. The mobile home or Florida manufactured home must be on a permanent foundation. The axles and tongue must be removed from the Florida mobile or Florida manufactured home. The Florida 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 Florida mobile or Florida 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 a  Florida FHA mobile home mortgage.

Florida Manufactured  Home Loans

http://www.FHAMortgagePrograms.com offers several options for Florida mortgage applicants looking for FHA financing for a Florida mobile or manufactured home with land. The truth is with Florida annual double digit appreciation on Florida homes and Florida payrolls lagging behind at 6% or less, traditional Florida homes are becoming far out of reach of the average Florida mortgage applicant. At http://www.FHAmortgageFHAloan.com we recognize the Florida housing trends and know that Florida manufactured homes offer great value with terrific per square foot pricing that today’s traditional Florida homes simply can’t compare. Refinancing a Florida Manufactured or Florida mobile home today is not nearly as difficult as you might think. visit www.FHAmortgagePrograms.com for more information.

Years ago, Florida mobile homes were considered substandard and were not held in high regard by those who owned one. Today’s Florida manufactured homes sure has gone a long way to changing that opinion. Many Florida Manufactured homes offer great amenities that would cost you tens of thousands of dollars more to achieve with a traditional Florida home. Better still, today’s Florida mobile homes are actually built to a higher standard than those required for traditional block homes. For instance, in Florida , it is not uncommon to see a 1900 square foot middle class home on the market for over 0,000.00 dollars. A savvy Florida home buyer can purchase a quarter acre lot outside of Florida , and put a 1800 square foot Florida manufactured home for a package price of around 5,000.00 with typically far more featured built into their home. Now that’s buying up and a perfect option for Florida First Time Buyers!

Historically, Florida manufactured and mobile homes were considered a poor investment for the mortgage market because of home depreciation concerns. After 30 years of data, this has simply been shown to be inaccurate. The typical Florida manufactured or mobile home loan secured by a Florida manufactured home tied to land appreciates using the same principles one applies to traditional stick built homes: Supply and demand. That’s why we believe a quality land and Florida mobile home mortgage package is really a good investment.

Our Florida manufactured home loan terms allow for:

Very Competitive low Fixed Rate Loans 1/1 Adjustable Rate Mortgage option to Qualified Applicants Up to 97% financing for Qualified Applicants Streamline Refinance Loan program for reduced costs to improve your rate and terms Single Wide mobile home financing Double Wide manufactured home financing Yes, we offer financing for Triple Wide mobile homes as well You can even do a Cash Out Refinance for Qualified Borrowers Down Payment Help programs are typically allowed Up to 6% seller concessions are allowed to qualified home buyers We can finance ANY Florida mobile homes built after June 1976 that bear the HUD required seal All Florida manufactured homes financed must be tied to land. We cannot finance only the Florida mobile home without the land.  Florida FHA Mobile Home Loan For Mobile home W/Land

 You can finance a Florida manufactured or mobile home with land  using the low rate FHA loan. Getting a low interest rate Florida mobile or manufactured home loan is easy using the FHA mortgage program. The reality is that in many Florida communities, manufactured homes that are a Florida homebuyers primary residence is one of the most difficult types of Florida mortgage loans to get a competitive low interest rate home loan on. Enter the FHA mortgage program. Learn more. Call 1-800-570-0448 or inquire using our quick quote form!

In many instances, the actual purchase price for of a Florida mobile or manufactured home with land is much lower than a conventional home and allows a wider range of prospective Florida home buyers to become home owners. The FHA mobile home loan allows for both Double Wide and Single Wide manufactured home financing under FHA underwriting terms and conditions (which can be reviewed here).

You’ll get a high quality Fixed low rate mortgage on a Florida manufactured home, and in all cases, you will get a much higher loan-to-value than you will ever find in the conventional or secondary loan market.

Best of all, motivated Florida sellers can contribute up to 6% towards the payment of your closing costs. Also, gifts from FHA/HUD qualified sources may be used to meet 100% of the minimum down payment requirements. Get started today with a low rate mobile home loan by calling 1-800-570-0448.

 

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
www.FHAmortgageFHALoan.com
http://www.fhamortgageprograms.com/florida/Sebastian/
http://www.fhamortgageprograms.com/florida/Wesley-Chapel/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Lake-City/
http://www.fhamortgageprograms.com/florida/DeLand/
http://www.fhamortgageprograms.com/florida/Deerfield-Beach/
http://www.fhamortgageprograms.com/florida/
http://www.fhamortgageprograms.com/florida/Santa-Rosa/
http://www.fhamortgageprograms.com/florida/Kissimmee/
http://www.fhamortgageprograms.com/florida/Jacksonville/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Marco-Island/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

Related Home Loans Articles

Florida Mobile home loan financing, up to 97% w 580 FICO

Florida Mobile home loan financing, up to 97% w 580 FICO

 Florida FHA mobile home loans  FHA Mobile Home Lending Guidelines

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

The Florida mobile or Florida 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 Florida home must be taxed as real estate by the local tax assessor’s office. The Florida mobile or Florida manufactured home must have been built after June 15, 1976. The Florida mortgage must have a term of at least 30 years from when amortization begins. The mobile home or Florida manufactured home must be on a permanent foundation. The axles and tongue must be removed from the Florida mobile or Florida manufactured home. The Florida 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 Florida mobile or Florida 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 a  Florida FHA mobile home mortgage.

Florida Manufactured  Home Loans

http://www.FHAMortgagePrograms.com offers several options for Florida mortgage applicants looking for FHA financing for a Florida mobile or manufactured home with land. The truth is with Florida annual double digit appreciation on Florida homes and Florida payrolls lagging behind at 6% or less, traditional Florida homes are becoming far out of reach of the average Florida mortgage applicant. At http://www.FHAmortgageFHAloan.com we recognize the Florida housing trends and know that Florida manufactured homes offer great value with terrific per square foot pricing that today’s traditional Florida homes simply can’t compare. Refinancing a Florida Manufactured or Florida mobile home today is not nearly as difficult as you might think. visit www.FHAmortgagePrograms.com for more information.

Years ago, Florida mobile homes were considered substandard and were not held in high regard by those who owned one. Today’s Florida manufactured homes sure has gone a long way to changing that opinion. Many Florida Manufactured homes offer great amenities that would cost you tens of thousands of dollars more to achieve with a traditional Florida home. Better still, today’s Florida mobile homes are actually built to a higher standard than those required for traditional block homes. For instance, in Florida , it is not uncommon to see a 1900 square foot middle class home on the market for over 0,000.00 dollars. A savvy Florida home buyer can purchase a quarter acre lot outside of Florida , and put a 1800 square foot Florida manufactured home for a package price of around 5,000.00 with typically far more featured built into their home. Now that’s buying up and a perfect option for Florida First Time Buyers!

Historically, Florida manufactured and mobile homes were considered a poor investment for the mortgage market because of home depreciation concerns. After 30 years of data, this has simply been shown to be inaccurate. The typical Florida manufactured or mobile home loan secured by a Florida manufactured home tied to land appreciates using the same principles one applies to traditional stick built homes: Supply and demand. That’s why we believe a quality land and Florida mobile home mortgage package is really a good investment.

Our Florida manufactured home loan terms allow for:

Very Competitive low Fixed Rate Loans 1/1 Adjustable Rate Mortgage option to Qualified Applicants Up to 97% financing for Qualified Applicants Streamline Refinance Loan program for reduced costs to improve your rate and terms Single Wide mobile home financing Double Wide manufactured home financing Yes, we offer financing for Triple Wide mobile homes as well You can even do a Cash Out Refinance for Qualified Borrowers Down Payment Help programs are typically allowed Up to 6% seller concessions are allowed to qualified home buyers We can finance ANY Florida mobile homes built after June 1976 that bear the HUD required seal All Florida manufactured homes financed must be tied to land. We cannot finance only the Florida mobile home without the land.  Florida FHA Mobile Home Loan For Mobile home W/Land

 You can finance a Florida manufactured or mobile home with land  using the low rate FHA loan. Getting a low interest rate Florida mobile or manufactured home loan is easy using the FHA mortgage program. The reality is that in many Florida communities, manufactured homes that are a Florida homebuyers primary residence is one of the most difficult types of Florida mortgage loans to get a competitive low interest rate home loan on. Enter the FHA mortgage program. Learn more. Call 1-800-570-0448 or inquire using our quick quote form!

In many instances, the actual purchase price for of a Florida mobile or manufactured home with land is much lower than a conventional home and allows a wider range of prospective Florida home buyers to become home owners. The FHA mobile home loan allows for both Double Wide and Single Wide manufactured home financing under FHA underwriting terms and conditions (which can be reviewed here).

You’ll get a high quality Fixed low rate mortgage on a Florida manufactured home, and in all cases, you will get a much higher loan-to-value than you will ever find in the conventional or secondary loan market.

Best of all, motivated Florida sellers can contribute up to 6% towards the payment of your closing costs. Also, gifts from FHA/HUD qualified sources may be used to meet 100% of the minimum down payment requirements. Get started today with a low rate mobile home loan by calling 1-800-570-0448.

 

First Time Home Buyer Programs

http://www.fhamortgageprograms.com/mortgage/manufactured-homes.shtml
www.FHAmortgageFHALoan.com
http://www.fhamortgageprograms.com/florida/Sebastian/
http://www.fhamortgageprograms.com/florida/Wesley-Chapel/
http://www.fhamortgageprograms.com/florida/Ormond-Beach/
http://www.fhamortgageprograms.com/florida/Lake-City/
http://www.fhamortgageprograms.com/florida/DeLand/
http://www.fhamortgageprograms.com/florida/Deerfield-Beach/
http://www.fhamortgageprograms.com/florida/
http://www.fhamortgageprograms.com/florida/Santa-Rosa/
http://www.fhamortgageprograms.com/florida/Kissimmee/
http://www.fhamortgageprograms.com/florida/Jacksonville/
http://www.fhamortgageprograms.com/florida/Okeechobee/
http://www.fhamortgageprograms.com/florida/Marco-Island/
http://www.fhamortgageprograms.com/florida/Crestview/

Article from articlesbase.com

FHA home loans make it Easy to BUY a Florida HOME, 97% down to 530 FICO

FHA home loans make it Easy to BUY a Florida HOME, 97% down to 530 FICO

FHA home loans make it Easy to Buy a Florida Home!!

Providing mortgage solutions for those looking for an FHA loan in 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 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 purchase 2 years after a Foreclosure.

 To take advantage of the FHA program in Florida, give us a call 1-800-570-0448

http://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.

http://www.fhamortgagefhaloan.com/

 

First Time Home Buyer Programs

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http://www.fhamortgageprograms.com/florida/Ft-Lauderdale/
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http://www.trulia.com/blog/phil_myers/2009/05/florida_fha_loan_florida

Article from articlesbase.com

ACC shock tactics teaching us not to talk about home loans while carrying boxes and walking down stairs. Thanks guys! Glad to know that’s what the 1.3% you take from my wages pays for.
First Time Home Buyer Programs

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Miami FHA Home Loans -((97% W/530 FICO)) Buying a Miami Home using a FHA Mortgage

Miami FHA Home Loans -((97% W/530 FICO)) Buying a Miami Home using a FHA Mortgage

 Miami FHA Home  Loans -((97% W/530 FICO)) Buying a Miami Home using a FHA Mortgage

Miami Dade County Mortgage

Providing mortgage solutions for real estate buyers and owners throughout the Miami Dade county area.

Like many home buyers and homeowners looking for a mortgage in Miami and Dade county, 1st Continental Mortgage has weathered the storm and come out stronger and wiser. With a keen focus on core principles and products like the FHA home loan, we’re ready and able to make a broad range of real estate loans throughout Miami Dade County.

Mortgage Programs With Minimal Down payment and Closing Cost

Down payment less than 3% of Sales Price 100% Financing options available Seller can credit up to 6% of sales price towards buyers costs. No cash or bank reserves are required. FHA regulated closing costs.

Easier Credit Qualifying Guidelines

No minimum Credit Score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase 2 year after a Foreclosure.

Apply now at www.FHAmortgagePrograms.com

A Dade County Mortgage Lender with Years of Experience!
Experience counts when choosing a mortgage lender, especially in the current Dade County real estate market where home values have slipped and lenders are scrutinizing loan applications far more closely.

It is especially important for first-time home buyers in Dade County communities like Miami Beach and Coral Gables to work with a knowledgeable, service-oriented, and experienced residential loan expert like the ones at 1st Continental Mortgage. Call today at 1-800-570-0448.

Dade County’s FHA Home Loan Boom

As experts in Dade County FHA loans, 1st Continental home loan specialists have helped first time home buyers in communities such as Aventura and West Miami, FL secure the funding necessary to buy homes.

With low interest rates and a glut of homes on the market in Dade County, it’s an excellent time for renters to become first time home buyers in Miami-Dade communities from Bal Harbor to Virginia Gardens.

Because FHA home loans are government backed, lenders making loans on property in Dade County can qualify buyers who have less than perfect credit so long as they have a stable employment history, have a modest down payment, and meet the other FHA home loan requirements.

In the last 6 months, we have seen record numbers of applications for FHA financing from Dade County from cities like Opa-Loca, Pinecrest, and Miami Gardens.

To learn more about the FHA home loan program or to apply for an FHA mortgage in Dade County cities such as North Miami or North Miami Beach, call 1st Continental Mortgage at1-800-570-0448.

Working with experienced Dade County FHA lender will help you get the right home loan. You will have a broker with substantial experience in FHA mortgages, government guaranteed VA home loans, and other special mortgage programs for which you may qualify helping you secure the right loan to buy your Dade County home.

Very few things are worse for you as a home buyer than working with a mortgage broker without enough experience in FHA loans to properly prepare and document a loan application. At a minimum, it delays getting your financing approved. At worst, it can result in your missing your closing date, losing out on a home you want, or not getting approved for an FHA loan at all.

Preparing to Buy a Home in Dade County: Mortgage Pre qualification and Mortgage Pre approval

When a home priced below market in Sunny Isles Beach, FL or Miami Springs, FL comes on the market, it doesn’t last. The selling agent is going to accept the best offer from a pre-approved buyer because he or she does not want to tie up the property with a Home Buyer who can’t get the mortgage financing to close the deal.

Many Dade County real estate agents insist on getting a pre-approval letter with any offer. Because some Dade County mortgage brokers were doing pre qualification letters on nothing more than a conversation with a potential buyer – no credit check, no verification of employment or assets – many Dade County Realtors now require more than a pre qualification letter to accompany any offer to buy.

What does that mean to you?

Get a mortgage pre approval before you look at any homes in Bay Harbor Islands, FL or Florida City or anywhere in Dade County. You will know exactly how much home you can afford, and selling agents will be more likely to accept your offer because you have demonstrated your ability to get financing for your Dade County home.

How Having the Right Mortgage Lender Helps You

Many Dade County home buyers focus on finding the perfect home, not on finding the right mortgage lender to help them get the best loan to finance it. As a result, they pay higher-than-necessary interest rates and get home loans with less than ideal terms.

A good mortgage lender will help you by doing these things:

Doing the preliminary work to give you an accurate picture of the price range of Dade County home that you can afford: Whether you are qualifying for a Jumbo loan to buy a luxury condo in South Miami or a manufactured home loan to buy a lot and home in Homestead, Florida, you need to know how large a loan you can get before you start home shopping in Dade County; Identifying the best mortgage program to use to buy your home in Doral or Key Biscayne or any other Dade County community: The team of mortgage brokers from 1st Continental Mortgage will be happy to help you compare Dade County mortgage programs to assure you of getting the best combination of rate and terms on your home purchase or refinance; Explaining the documentation required to get your Dade County home loan: Your licensed FL mortgage broker will assemble your loan package and check that you have met your lender’s requirements before he submits your loan package to the lender; Giving you an accurate good faith estimate on your Dade County home loan: Some Dade County brokers are notorious for playing games with the numbers on their good faith estimates. They underestimate insurance costs or taxes or omit line items to make the bottom line on their good faith estimates come in lower than those of other Dade County mortgage brokers. These shady mortgage brokers count on the fact that their deception will not become apparent to the home buyer until the HUD arrives right before the closing. Then, the home buyer will pay the difference just to avoid having to start over with another mortgage broker and Florida mortgage lender. It’s unethical, but mortgage brokers in Miami, FL and Miami Shores Village, FL do it all the time. It’s no way to earn a reputation as a competent and customer-focused mortgage broker in Dade County. Expect a properly prepared good faith estimate and white glove service from 1st Continental Mortgage, whether you are buying a home in Hialeah, Miami Springs or any of the other cities in Dade County. Keeping you updated on the progress of your lender in approving your financing for your Dade County home: 1st Continental Mortgage will be proactive in keeping you informed of the status of your Dade County home loan and in dealing with any issues that might delay the closing of your Dade County FHA loan in Hialeah Gardens or any other Dade County neighborhood. Whether you are refinancing an ARM in South Bay Village or getting a mobile home loan in Pahokee, we will give you the best combination of interest rates and terms on your Dade County mortgage. Coordinating the activities of the many professionals who play a role in getting your Dade County home loan closed: Your 1st Continental Dade County mortgage specialist will be your liaison in dealing with Realtors, appraisers, home inspectors, underwriters, title company representatives, etc. You can relax knowing that your mortgage broker is taking care of the details so that your closing will happen on-time and without any surprises.

1st Continental Mortgage’s mortgage pros will be your single point of contact for your mortgage in Biscayne Park or El Portal or any other Dade County city. Call them today at 800-570-0448.

Dade County Pre foreclosure and Bank Owned Properties Attract Miami Real Estate Investors

Prices that are much lower than a year or two ago and the high rate of foreclosure on sub-prime mortgages has created strong interest in Dade County real estate among real estate investors. Many of our best repeat mortgage customers in Dade County are real estate investors purchasing pre-foreclosure homes in cities like Medley, FL or South Miami or rehabbers buying and flipping REOs in Surfside or Sweetwater.

Seasoned real estate investors recognize that now is an excellent time to be bargain hunting in Dade County’s real estate market. With the long term prospects for continued population growth and with good prospects for the Dade economy, now may be the right time to buy investment property in Dade County.

FHA 203b home loans allow qualified home buyers to borrow 100% of the purchase price of a home and up to 00 to make repairs on Fannie Mae foreclosures. FHA home loans and specialized home loans such as the FHA 203b loan have been popular home loans for investing in Miami Dade County real estate.

Whether you are buying a first home with an FHA mortgage in North Bay Village, building a custom luxury home in Islandia, or looking to buy a bargain priced pre foreclosure using a conventional mortgage in Indian Creek Village, you should start now by calling 1st Continental Mortgage at 1-800-570-0448. Don’t miss the best opportunity to buy a home in Dade County in decades.

First Time Home Buyer Programs

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Florida Bad Credit Mortgage, 97% W 530 FICO, Florida Bad Credit home loan

Florida Bad Credit Mortgage, 97% W 530 FICO, Florida Bad Credit home loan

The Federal Housing Administration (FHA) runs several FHA Bad Credit mortgage programs to promote home ownership in Florida. In most cases, Bad Credit FHA home loans are mortgages obtained with the help of the FHA. With a small down payment today only 3.5%, Florida Bad Credit homebuyers   buyers can purchase a home. FHA loans make it easier for Florida  Bad Credit homebuyers  to qualify for a Florida Bad Credit mortgage,

 Minimal Down Payment and Closing Costs.

Down payment less than 3.5% 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 today at www.FHAmortgagePrograms.com

www.FHAmortgageFHAloan.com

Bad Credit home loans In Florida

Getting a Florida bad creidt Mortgage with isn’t as easy as it was a year or two ago. However, it isn’t as impossible as some news reports make it seem. Even Bad Credit  Floridians with bad credit reports which reveal past financial sins still sometimes get to the promised land of mortgage approval. Most Florida Bad Credit mortgage applicants and Refinance clients do so with the help of a skilled and experienced Florida mortgage lender who specializes in Florida FHA bad credit home mortgages to Refinance or Purchase a Florida home

For the Florida Bad Credit home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Most Florida mortgage applicants didn’t know this but FHA has No minimum credit score requirements. Its the Florida FHA approved mortgage lenders that set minimum credit score requirements. At FHAmortgageprograms.com we can go down to a 530 FICO score when most Florida  banks and other Mortgage lenders  require a  minimum 620 FICO. Some highlights of the Florida Bad Credit FHA mortgage 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. Purchases (Min 530 score)

 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

Additional Conditions include:

12 month cancelled checks or Management VOR Must have 3 good recent trade lines Can you ALT CREDIT such as Cable, Cell phone, Electric, Cable, Car Insurance, ect. Payment shock limited to 1.5 times 33/45 DTI max No late’s or collection in last 12 months NO late’s after BK

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

Easy Qualification – The FHA loan has No minimum Credit score requirement and  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 Down payment 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 Down payment 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.

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.

FHA Loans for Bad Credit Florida Mortgage Applicants

If you have what is known in general as bad credit, and you are trying to obtain a home loan in Florida, then we encourage you to work with an experienced Florida Mortgage Lender with a track record of funding even the most difficult bad credit Florida mortgage loans.

As a bad credit FHA mortgage specialist we have been helping borrowers with bad credit find the right lenders, gather their loan documents, and present complete Bad credit loan packages to Florida bad credit lenders for over a decade. Our technique really comes down to understanding what a Florida Bad credit underwriter is looking for and putting together a complete and thorough Bad Credit loan package.

For some Florida mortgage applicants , it’s the only way to get a Bad credit lender to say yes to a home loan. This is especially the case for a borrower with Florida  bad credit mortgage issues.

At FHAmortgagePrograms.com, we know that a temporary set back like a job loss or car accident can leave you with damaged credit even though you have worked hard to meet all of your financial obligations for most of a lifetime. This episode can affect credit ratings quickly and adversely affect the loan process when applying for your Florida Bad Credit mortgage.

We feel the Florida mortgage applicant with less than perfect credit is the one who benefits the most from working with an experienced Florida mortgage lender. A good Florida mortgage lender knows which lenders have the best programs for borrowers with poor credit and knows how to present an application truthfully and ethically in the strongest light possible. No, we won’t exaggerate or misrepresent the facts on your behalf; however, we will work to properly represent you and explain why the situation you are in exists.

Your credit report is the key factor for many of the Florida Bad Credit mortgages we offer, but it is not the only factor. With an experienced Bad Credit Florida Mortgage professional from FHA mortgage programs working on your behalf, you may be pleasantly surprised at the Florida bad credit home loan quote you get from our network of quality Florida mortgage lenders.

We can help you take an objective look at your Florida home loan options regardless of your past credit history. Our experienced mortgage pros are very skilled at examining your credit report. And our Florida bad credit home loan specialists are happy to offer you free advice on how to clean up your credit report in preparation for your home loan process.

For some FLoirda bad credit mortgage applicants, the hardest lifting takes place weeks before the mortgage application. It’s never too soon to pay down collections or settle some old judgments to incease your score and purchase a FLorida home. If you have a weak credit report but want to get a Florida mortgage or refinance your existing one, now is the time to get started. As you can see FHA mortgage loans offer Florida mortgage applicants that have had difficulty in the past the ability to qualify for a Florida mortgage.

 It’s actually better for borrowers with bad credit right now than it was before 1990. Before 1990, if a borrower did not qualify for a conventional or government loan, he or she was out of home loan options. The emergence of lenders willing to serve those with poor credit has been a godsend for the borrower who recognizes that a Florida bad credit home loan is a temporary loan.

Used properly with good financial planning, a subprime home loan serves the bad credit borrower for 2-4 years while he or she demonstrates the discipline to pay financial obligations on time. Once the healthier financial pattern yields a higher middle credit score, the borrower can apply for a government insured FHA home mortgage or a fixed rate conventional mortgage.

Even for mortgage borrowers with bad credit, 1st Continental Mortgage has found ways to secure financing for a decade.

30 year fixed rate mortgages for persons with damaged credit to purchase homes; Fixed rate mortgages with one, three, or five year Interest Only periods; Limited opportunities on loans for purchasing or refinancing single and doublewide Mobile Homes on land for buyers with low FICO scores in Polk County and the other Florida counties we serve; A range of Jumbo and Super Jumbo home loans for those borrowers seeking to purchase executive homes

First Time Home Buyer Programs

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Acorn has been helping illegal aliens receive home loans for years. Finally the media is catching on that the government is complicit in helping the loans to go through.
First Time Home Buyer Programs
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Florida Mobile home loan financing, up to 97% w 580 FICO

Florida Mobile home loan financing, up to 97% w 580 FICO

 Florida FHA manufactured home loans, Florida Mobile home loans

Florida Mobile home loan financing, up to 97% w 580 FICO

Florida mobile or Florida manufactured home buyers should know the many advantages of the FHA mortgage 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 home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:

For Florida mobile or Florida manufactured home buyers FHA guarantees “eligible” Florida loan applicants the ability to obtain Florida mortgages on manufactured homes with No money or Little money down .FHA loans feature low down payments and flexible guidelines to make it easier to for Florida homebuyers to qualify! FHA loans are popular with Florida first time home buyers but they can be equally attractive to Florida move-up buyers and Florida homeowners looking for a home improvement loan. With an FHA loan you can borrow up to 97% of the purchase price of the Florida home. Please keep in mind that the FHA home loan will be based on the homes purchase price or the appraised value.

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.

Apply Today for an FHA Home loan at

http://www.fhamortgagefhaloan.com/

 Florida FHA mobile home loans

 FHA Mobile Home Lending Guidelines

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

The Florida mobile or Florida 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 Florida home must be taxed as real estate by the local tax assessor’s office. The Florida mobile or Florida manufactured home must have been built after June 15, 1976. The Florida mortgage must have a term of at least 30 years from when amortization begins. The mobile home or Florida manufactured home must be on a permanent foundation. The axles and tongue must be removed from the Florida mobile or Florida manufactured home. The Florida 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 Florida mobile or Florida 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 a  Florida FHA mobile home mortgage.

Florida Manufactured  Home Loans

http://www.FHAMortgagePrograms.com offers several options for Florida mortgage applicants looking for FHA financing for a Florida mobile or manufactured home with land. The truth is with Florida annual double digit appreciation on Florida homes and Florida payrolls lagging behind at 6% or less, traditional Florida homes are becoming far out of reach of the average Florida mortgage applicant. At we recognize the Florida housing trends and know that Florida manufactured homes offer great value with terrific per square foot pricing that today’s traditional Florida homes simply can’t compare. Refinancing a Florida Manufactured or Florida mobile home today is not nearly as difficult as you might think. visit www.FHAmortgagePrograms.com for more information.

Years ago, Florida mobile homes were considered substandard and were not held in high regard by those who owned one. Today’s Florida manufactured homes sure has gone a long way to changing that opinion. Many Florida Manufactured homes offer great amenities that would cost you tens of thousands of dollars more to achieve with a traditional Florida home. Better still, today’s Florida mobile homes are actually built to a higher standard than those required for traditional block homes. For instance, in Florida , it is not uncommon to see a 1900 square foot middle class home on the market for over 0,000.00 dollars. A savvy Florida home buyer can purchase a quarter acre lot outside of Florida , and put a 1800 square foot Florida manufactured home for a package price of around 5,000.00 with typically far more featured built into their home. Now that’s buying up and a perfect option for Florida First Time Buyers!

Historically, Florida manufactured and mobile homes were considered a poor investment for the mortgage market because of home depreciation concerns. After 30 years of data, this has simply been shown to be inaccurate. The typical Florida manufactured or mobile home loan secured by a Florida manufactured home tied to land appreciates using the same principles one applies to traditional stick built homes: Supply and demand. That’s why we believe a quality land and Florida mobile home mortgage package is really a good investment.

Our Florida manufactured home loan terms allow for:

·         Very Competitive low Fixed Rate Loans ·         1/1 Adjustable Rate Mortgage option to Qualified Applicants ·         Up to 97% financing for Qualified Applicants ·         Streamline Refinance Loan program for reduced costs to improve your rate and terms ·         Single Wide mobile home financing ·         Double Wide manufactured home financing ·         Yes, we offer financing for Triple Wide mobile homes as well ·         You can even do a Cash Out Refinance for Qualified Borrowers ·         Down Payment Help programs are typically allowed ·         Up to 6% seller concessions are allowed to qualified home buyers ·         We can finance ANY Florida mobile homes built after June 1976 that bear the HUD required seal ·         All Florida manufactured homes financed must be tied to land. We cannot finance only the Florida mobile home without the land.  Florida FHA Mobile Home Loan For Mobile home W/Land

 You can finance a Florida manufactured or mobile home with land  using the low rate FHA loan. Getting a low interest rate Florida mobile or manufactured home loan is easy using the FHA mortgage program. The reality is that in many Florida communities, manufactured homes that are a Florida homebuyers primary residence is one of the most difficult types of Florida mortgage loans to get a competitive low interest rate home loan on. Enter the FHA mortgage program. Learn more. Call 1-800-570-0448 or inquire using our quick quote form!

In many instances, the actual purchase price for of a Florida mobile or manufactured home with land is much lower than a conventional home and allows a wider range of prospective Florida home buyers to become home owners. The FHA mobile home loan allows for both Double Wide and Single Wide manufactured home financing under FHA underwriting terms and conditions (which can be reviewed here).

You’ll get a high quality Fixed low rate mortgage on a Florida manufactured home, and in all cases, you will get a much higher loan-to-value than you will ever find in the conventional or secondary loan market.

Best of all, motivated Florida sellers can contribute up to 6% towards the payment of your closing costs. Also, gifts from FHA/HUD qualified sources may be used to meet 100% of the minimum down payment requirements. Get started today with a low rate mobile home loan by calling 1-800-570-0448.

 To take advantage of the FHA program in Florida, give us a call 1-800-570-0448 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.

When analyzing a Florida mortgage applicant credit report, it is important to focus upon the general pattern of credit behavior rather than isolated occurrences of late payments.  Often times, Florida mortgage applicants will experience a period of financial difficulty in the past and does not necessarily translate into an unacceptable risk.  Reasonable explanations of the credit derogatory and evidence of offsetting factors (such as a new job or promotion with greater stability and pay, for example) will be necessary.  All derogatory credit information must be explained, in writing, by the borrower.

The following is a brief synopsis of the credit underwriting guidelines for FHA mortgage loans:

Lack of credit history:  If a Florida mortgage applicant does not have a minimum of 3 trade lines on their credit report, alternative forms of credit may be used.  This would include items such as auto insurance payment history, utility bills, etc. 

Included credit obligations:  Any installment loan (e.g. student loans, car loans, etc.) with less than 10 months remaining does not need to be included when qualifying for a FHA home loan.  However, consideration is given to a large debt of over 0 a month, regardless of the number of months remaining.  Furthermore, payments on auto leases with less than 10 months must be included in the qualifying ratios.  The minimum payment on all revolving accounts (i.e. credit cards) is also factored in.  If the borrower has an open revolving account without a balance, per open account should be included when qualifying. Any loan where the borrower has co-signed for another party is included with their debts unless the borrower can prove that the the other party has made the payments on their own for a minimum of 12 months.

Chapter 7 Bankruptcy:  FHA requires a minimum of 2 years since the discharge of the bankruptcy.  An explanation of the bankruptcy will be required.  Furthermore, the borrower should have re-established credit (i.e. secured credit card) with no late payments.  

Chapter 13 Bankruptcy:  FHA will consider a borrower still paying on a Chapter 13 bankruptcy if the payments to the court have been made for a minimum of 1 year in a satisfactory manner (as verified with the courts) and with the approval of the court trustee.

Federal Debts:  A Florida mortgage applicant is not eligible for a FHA loan if he/she is delinquent or in default on any federal debt (such as a HUD or VA mortgage, student loans, SBA loans or a tax lien against his/her property).  Borrowers can become eligible by bringing any delinquent accounts current, making satisfactory repayment arrangements with the creditor (generally a 3 month history will be required), or paying the account in full.

Judgments:  Judgments must be paid or have 12 months of arranged payment history

Collection Accounts:  Collections do not need to be paid  (LOX) needed

Foreclosure:  A borrower who has had a property foreclosed upon, or who has given a deed-in-lieu of foreclosure within the previous 3 years, is generally not eligible for a FHA home loan.  However, if it was the result of extenuating circumstances beyond the borrower’s control (such as the death of a spouse, loss of employment, or serious long-term illness, etc.) and the borrower has since re-established good credit, an exception may be granted.  However, extenuating circumstances do not include the inability to sell a house when transferring from one area to another.

Non-purchasing Spouse:  If a married borrower is purchasing a property by himself/herself, the credit obligations of the spouse must be included with the application and will be factored in with the borrower’s credit obligations and used to determine the financial capacity of the borrower.  Furthermore, the non-purchasing spouse may be required to sign a security instrument or documentation relinquishing all rights to the property.    

To Learn more about FHA financing visit the links below   

 

First Time Home Buyer Programs

http://www.fhamortgagefhaloan.com/
http://www.fhamortgageprograms.com/florida/Ft-Myers/
http://www.fhamortgageprograms.com/florida/Ft-Walton-Beach/
http://www.fhamortgageprograms.com/florida/Gainesville/
http://www.fhamortgageprograms.com/florida/Hollywood/
http://www.fhamortgageprograms.com/florida/Homosassa-Springs/
http://www.fhamortgageprograms.com/florida/Jacksonville/
http://www.fhamortgageprograms.com/florida/Vero-Beach/
http://www.fhamortgageprograms.com/florida/Wauchula/
http://www.fhamortgageprograms.com/florida/Wesley-Chapel/
http://www.fhamortgageprograms.com/florida/west-palm-mortgage.shtml

FHA home loans for Buying a Florida home, ((97%w 540 FICO))

FHA home loans for Buying a Florida home, ((97%w 540 FICO))

FHA home loans for Buying a Florida home.

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 home loan program can simplify the purchase of buying a  Florida home, making financing easier and less expensive than an other home loan program. 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 or use our quick application at www.FHAmortgageFHALoan.com

 

Common FHA Mortgage Questions Why should I apply for an FHA home loan?

There are lots of good reasons to choose an FHA home loan over other Florida mortgage programs, especially if one or more of the following apply to you:

You’re a Florida first-time homebuyer. You want to keep your monthly payments as low as possible. You’re worried about your monthly payments going up You don’t have a lot of money to put down on a house.   You’re worried about qualifying for a loan. You don’t have perfect credit.

If any of these things describe you, then an FHA home  loan may be right for you. Why? FHA home loans offer many benefits and a level of security that you won’t find in other loans including:

Low cost: FHA home loans have competitive interest rates because the federal government insures the loans for lenders.

Lower down payment requirements: FHA home loans have a low 3.5% down payment and the money can come from a family member, employer or charitable organization as a gift.

Easier qualification: Because FHA insures your mortgage, FHA mortgage lenders may be more willing to give you FHA home loan terms that make it easier for you to qualify.

Less than perfect credit: You don’t have to have perfect credit to get an FHA home loan. In fact, even if you have had credit problems, such as a bankruptcy, it’s easier for you to qualify for an FHA home loan than any other mortgage program.  

More protection to keep your home: The FHA has been helping people since 1934. Should you encounter hard times after buying your home, the FHA has many options to keep you in your home and avoid foreclosure.

FHA insures loans for lenders against defaults it does not lend money or set interest rates. For the best interest rate and terms on a mortgage, you should compare mortgages from several different lenders. An FHA-approved lender can help you start the loan application process.

You may use an FHA-insured mortgage to purchase or refinance a new or existing 1- to 4-unit home, a condominium or a manufactured or mobile home (provided it is on a permanent foundation).

What kinds of FHA home loans does FHA offer?

Fixed-rate loans – Most FHA home loans are fixed-rate mortgages (loans). The advantage of a fixed-rate mortgage is that your interest rate stays the same during the loan period, so you know exactly how much your monthly payment will be.

Adjustable rate loans – First-time homebuyers can be a little stretched financially. With FHA’s adjustable rate mortgage (ARM), the initial interest rate and monthly payments are low, but these may change during the life of the loan. FHA uses the 1-Year Constant Maturity Treasury Index (CMT) to calculate the changes in interest rates. An index is a measure of interest rate changes that determine how much the interest rate on an ARM will change over time.

The maximum FHA home loan that the interest rate on your FHA home loan may increase or decrease in any one year is 1 or 2 percentage points, depending upon the type of ARM you choose. Over the life of the loan, the maximum interest rate change is 5 or 6 percentage points from the initial rate. The advantage of selecting an ARM is that you may be able to expand your house-hunting value range because your initial interest rate will be low, as will your payment. Click for a more in-depth explanation…

Purchase/Rehabilitation loans – Sometimes you might see a home you’d like to buy, but it needs a lot of work. FHA has a loan for rehabilitating and repairing single-family properties called the SF Rehabilitation Loan program (203k). You can get one loan which combines the mortgage and the cost of repairs. The mortgage amount is based on the projected value of the property with the work completed. The advantage of this loan is that you can buy a home that needs a lot of work, but have only one mortgage payment, and you can complete the repairs after buying the home.
Read more about these loans.

Indian Reservations and Other Restricted Lands – A family who purchases a home under this program can apply for financing through an FHA-approved lending institution such as a bank, savings and loan, or a mortgage company. To qualify, the borrower must meet standard FHA credit qualifications. An eligible borrower can receive approximately 97% financing and use a gift for the downpayment. Closing cost can be financed; covered by a gift, grant or secondary financing; or paid by the seller without reduction in value. More… 

How do FHA-insured loans compare to subprime loans?

Subprime loans are loans designed for homebuyers who don’t have a strong credit history or can’t qualify for a regular or prime loan. Lenders charge a high interest rate on subprime loans because the risk that a homebuyer may not make their payments is high. Because FHA insures the lender against this risk, the interest rates on FHA-insured loans are generally among the lowest in the market. Most subprime loans carry interest rates at least 3 percentage points higher than an FHA-insured loan. On a 0,000 mortgage, the monthly payment for a subprime loan would be over 0 a month higher than an FHA-insured loan.

The majority of subprime loans are also ARMs, where the interest rate can change a lot and greatly increase your monthly payments. Most FHA-insured loans are fixed-rate loans where the mortgage payment always stays the same. If you have an FHA-insured ARM loan, the rate can’t go up by more than one or two points in a year. The fees that lenders charge their borrowers for processing a subprime loan are also generally higher than on an FHA-insured loan.

Most subprime loans carry a heavy prepayment penalty that you must pay if you want to refinance your loan to a lower interest rate. These penalties can cost you hundreds or even thousands of dollars. There is never a prepayment penalty on an FHA-insured loan. You can refinance at any time and not worry about paying any penalties.

Unfortunately, because they don’t know these facts, many homebuyers who could qualify to buy a home with a fixed-rate FHA-insured loan only apply for subprime loans. Check out an FHA-insured loan before settling for a subprime loan!

How do FHA home loans compare to conventional loans?

Conventional loans usually require a larger downpayment than FHA and if you have less than perfect credit you may not qualify for an affordable mortgage with a low interest rate . The best thing to do is compare the cost of the conventional loan to an FHA-insured loan line-by-line. What are the fees for each? What is the interest rate? How much is the mortgage insurance? How much downpayment is required? For some borrowers, a conventional loan may be less expensive. For many others, getting an FHA-insured loan is the way to go.

Do you have to buy mortgage insurance on an FHA home loan?

Yes – as you will with most loans.

The Housing and Economic Recovery Act of 2008 provides for a one-year moratorium on the implementation of FHA’s risk-based premiums beginning October 1, 2008.  Consequently, effective with new FHA case number assignments on or after that date, FHA will no longer base its mortgage insurance premiums on a combination of credit bureau score and loan-to-value ratio.  The new premiums (upfront and annual) to be implemented for all loans for which a case number is assigned on or after October 1, 2008, are described below.  Mortgagee Letter 2008-16 is rescinded in its entirety.  Please note that certain parts of that mortgagee letter are retained and reiterated in the guidance that follows.

UFMIP= Upfront Mortgage Insurance Premiums:  FHA home loans will charge an upfront premium in an amount equal to the following percentages of the mortgage: 

Purchase Money Mortgages and Full-Credit Qualifying Refinances = 1.75 Percent Streamline Refinances (all types) = 1.50 Percent

Most home loans require mortgage insurance when your downpayment is less than 20% of the sales price. On conventional and subprime loans, mortgage insurance is provided by private companies. Whether private mortgage insurance is less than, equal to, or more than an FHA-insured loan’s insurance will depend upon the loan program and your qualifications.

Compare the cost of FHA home loan home loan compare  to subprime and conventional types of loans over the life of your loan. Then compare how much each one costs monthly. With the protection and value you get from an FHA home loan you will find it’s a very good deal.

 

 

First Time Home Buyer Programs

http://www.fhamortgagefhaloan.com/
http://www.fhamortgageprograms.com/florida/Pompano-Beach/
http://www.fhamortgageprograms.com/florida/Port-St-Lucie/
http://www.fhamortgageprograms.com/florida/Punta-Gorda/
http://www.fhamortgageprograms.com/florida/Santa-Rosa/
http://www.fhamortgageprograms.com/florida/Sarasota/
http://www.fhamortgageprograms.com/florida/Sebastian/
http://www.fhamortgageprograms.com/florida/Sebring/
http://www.fhamortgageprograms.com/florida/Springhill/
http://www.fhamortgageprograms.com/florida/St-Augustine/
http://www.fhamortgageprograms.com/florida/St-Petersburg/
http://www.fhamortgageprograms.com/florida/Tallahassee/
http://www.fhamortgageprograms.com/florida/Tampa/
http://www.fhamortgageprograms.com/florida/The-Villages-County/