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Sarasota FL FHA Mortgage Lenders

SARASOTA FL MORTGAGE LENDERS

Minimum 3.5% Down with 580+ Minimum 10% Down With 500+ 6% Seller Paid Closing Cost
Down payment Assistance OK! Gift or Down payment = OK Higher Debt To Income Up to 56%
Co Borrowers = OK! Streamline Refinance!  Manual Underwrite = YES!


FLORIDA HOME BUYERS ASK EVERY DAY,

“WHAT IS THE MINIMUM CREDIT SCORE FOR AN FHA MORTGAGE”? 

If the Minimum FHA Mortgage Credit Score is at or above 580+ the FHA mortgage applicant is eligible for 96.5% Financing. Our Minimum Credit Score for an FHA mortgage is 500. If the Minimum FHA Mortgage Credit Score is between 500 and 579, the FHA mortgage applicant is limited to a maximum loan-to-value (LTV) of 90 percent of the loan amount..

Florida FHA Mortgage Loans Have Minimal Down Payment & Fees:

  • Down payment only 3.5% of the purchase price. 
  • Gifts from family or Grants for down payment assistance and closing costs OK! 
  • Seller can credit buyers up to 6% of sales price towards buyers costs. 
  • No reserves or future payments in account required.
  • FHA regulated closing costs. 

Florida FHA Mortgage Lenders Make it Easier To Qualify Because:

FHA Mortgage Lenders Allow For Higher Debt To Income and Flexible Job Qualifying:

4 C’S FLORIDA FHA MORTGAGE LENDER REQUIRMENTS

  • FHA Minimum Cash/Down payment Or Equity -FHA 3.5% Down Payment Cash or 20% Equity/ 80% LTV for cash out or 96.75% Rate term Refinance- Verity the borrower has the down payment from acceptable source on a purchase or enough equity to cover payoffs and closing cost to include taxes insurance on a refinance.
  • FHA Minimum Credit 500+ Credit Score – Does the borrower have the minimum credit score to meet the loan program? Does the borrower have collections that have to be paid off that will reflect the cash needed to close? Do student loans that are deferred need to be added to the monthly obligations? Does the lender require %1 cumulative student loans or 5% of the cumulative collections accounts over +$2000 added back to the debt to income ratios.
  • Capacity-56.9% FHA Maximum-  Does the borrowers debt to income ratio meet the loan program requirements or no more debt than 56.9% of the total housing + all obligations reflected on the borrowers credit report. 
  • Collateral/FHA Approved Property Types Include- Single family homes, Townhomes, villas, 1-4 family multi Unit Homes, and  FHA Approved Condos!

• LOWERST DOWN PAYMENT OPTION •

The Federal government insures Florida FHA mortgage lenders against losses, therefore the FHA mortgage applicants has very minimal down payment and closing cost. FHA mortgages lenders will require a minimum 3.5% financial commitment. In additions, FHA mortgage lenders allow for the home seller to pay all your closing cost up to 6% of the sale price.

• EASIEST TO QUALIFY •

Prequalifying with a Florida FHA mortgage lenders is rather easy. The result of the FHA mortgage insurance guarantee educes Florida FHA mortgage lenders make it feasible for just about anybody with a decent 12 month payment history to qualify. The primary components of an FHA mortgage include down payment, credit, debt to income ratio.

• FIXED 30 YEAR RATES WITH NO PREPAYMENT PENALTIES •

One of the big advantages of using a Florida FHA mortgage lenders is the benefit of having a fixed 30 year interest rate with 0 NO prepayment penalty. In comparison to other conventional Fannie Mae and Freddie mac mortgage loans in which you risk the possibility of a mortgage rate that could change. The FHA mortgage is typically for 30 years. The result of this FHA mortgage provision FHA mortgage applicants can budget their predetermined installment FHA mortgage payment in advance.

• NO RESERVES ARE REQUIRED •

 In contrast to most conventional home loan programs, Florida’s FHA home loan is a very tempting option for Florida first time buyers that have a little saved for down payment let alone future mortgage payments. 

Florida First Time buyers should click apply now at the top of this website to learn what to expect with the FHA mortgage process. Being prepared will always boost your chances in getting your FHA mortgage approved. 

FLORIDA FHA MORTGAGE SUMMARY OF KEY POINTS – 

  • FHA Loans Are Easier To Qualify For- The Federal Housing Administration (FHA) insures FHA mortgage loans against default as a way to help first-time home buyers, as well as lower and middle-income citizens. Unlike traditional mortgages, FHA loans require lower down payments and easier credit requirements to secure a loan. In fact, FHA mortgages now make up nearly a third of all new purchase mortgages in America. Get Started Now!
  • FHA Loans For Less Then Perfect Credit-– Less than prefect credit is not an problem with FHA mortgage lenders because under the right circumstances you can qualify down to a 500+ Fico score!
  • FHA Mortgage Lenders For First Time Home Buyers- For the last 10 years, Florida Mortgage Lenders.com has served Florida as one of the top Florida FHA Mortgage Lenders. We’ve helped residents secure Florida FHA loans in every city and county in Florida. Buying or refinancing a home can be tricky, but we are here to help. Imagine a streamlined, stress-free Florida mortgage approval process. Click here to learn why the FHA mortgage is so popular with Florida first time homebuyers!
  • FHA Mortgage for Homebuyers And Move Up Buyers– The fact is, you do not have to be a first time homebuyer to qualify for an FHA mortgage. But, you typically you cannot have more that 1 FHA mortgage at a time unless you are moving closer to work or had and increase in family size!
  • FHA Streamline Refinance is an Easy Fast Way To Lower Your Mortgage Payments– With the FHA streamline mortgage program, so long as your mortgage payments have been on time for the prior 12 months, you can inexpensively take advantage of any improvements in market interest Rates. Even if you had a “payment” bump in the road, you can still possibly qualify for a FHA streamline mortgage refinance with the right circumstances.
  • Florida FHA mortgage applicants can apply now to get pre approved online! Florida Mortgage requirements are always changing, and Florida homebuyers can count on  Florida Mortgage Lenders.com to provide up-to-date information support. In addition, we are one of Florida most active and experienced Florida mortgage lenders. With so many options out there, our job is to help you make the best decision for you. We make the FHA application process easy to understand and are always here to answer questions. Our website is also packed with information for you to browse. Our secure mortgage application is available online when you’re ready to apply for a mortgage and we will even call you to start the process.

Welcome and thank you for visiting US Mortgage Lenders webpage. We are local Sarasota County Florida mortgage lenders.  We are available to answer any questions you might have 24/7.

US Mortgage Lenders professionals have earned their excellent 5 star zillow and google reviews by opening more doors to homes in Sarasota County Florida than your average Florida lender. To discuss any of our full service Sarasota County Florida programs including, FHA minimum score 550, FHA Cash Out and Streamlines refinancing, Private lenders, Jumbo Loans, VA Mortgage loans down to 550 and Foreign National Loans. Note All Subject to change without notice.

SARASOTA COUNTY FL MORTGAGE LENDERS PROGRAMS INCLUDE:

WE ARE LOCAL SARASOTA COUNTY FLORIDA FHA MORTGAGE LENDERS.

SARASOTA COUNTY FL MORTGAGE PROGRAMS

  • GIFTS ALLOWED SARASOTA COUNTY FLORIDA FHA MORTGAGE LENDERS – When apply with an FHA mortgage lender you must document where your down payment came from. If you are getting a gift from a family member you must  document the transfer, the documenation is very precise. Make sure the follow the FHA rules for a gift step by step, otherwise you may not be able to use the gift funds! Read more »
  • MODULAR HOME SARASOTA COUNTY FLORIDA FHA MORTGAGE LENDERS – The FHA Title I modular home loan mortgage  may be used for the purchase or refinancing of a manufactured home and land built after 1977, 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 and never moved from its original location. In addition you must own or buy the land with home. Read more »
  • HARD MONEY SARASOTA COUNTY FLORIDA BAD CREDIT MORTGAGE LENDERS– If you have large enough down payment and can prove the ability and willingness to pay your bills on time then we may have a hard money lender for you. US Mortgage lenders has access to private lenders and portfolio hard money lenders approving borrowers for loans that your bank will never consider. Read more »

SARASOTA COUNTY FLORIDA MORTGAGE AND CITY DATA 

County population in 2012: 386,147 (96% urban, 4% rural); it was 325,957 in 2000

County owner-occupied with a mortgage or a loan houses and condos in 2010: 76,072

County owner-occupied free and clear houses and condos in 2010: 55,687

County owner-occupied houses and condos in 2000: 118,538

Renter-occupied apartments: 43,987 (it was 31,399 in 2000)

% of renters here:            21%

State:    33%

Land area: 572 sq. mi.

Water area: 153.6 sq. mi.

Population density: 669 people per square mile   (high).

Mar. 2013 cost of living index in Sarasota County: 95.2 (less than average, U.S. average is 100)

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