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FHA Loans
Federal Housing Administration (FHA) loans are insured by the US government. They are a great option for home-buyers with limited resources to purchase a home and homeowners looking to refinance.
Some Benefits of an FHA loan are:
- 3.5% down-payment
- Co-signers are allowed
- Seller Can Pay up to 6% of Buyers Closing Costs
- Refinance up to 96.5% of the value of your home ( to payoff exisitng mortgages)
- Not credit score driven ( credit score does not determine interest rate )
- Recent job changes are considered
- 100% gift money allowed from an immediate relative, buy your home with no money down
- cash out refinance loans available up to 85% of the home value
- FHA 203k loans (home rehab loans) are available for purchase or refinance
- FHA Streamline loans available to refinance existing FHA loans at lower closing costs and reduced borrower requirements
Contact a Lending Hand Mortgage Loan Specialist to learn more about how you could qualify for a Florida FHA loan. Or apply online today!
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