New changes to FHA mortgages will result in increased costs to the Florida home buyer. FHA has lowered the amount of assistance a seller can contribute to a buyer from 6% to 3% and has increased the amount of the upfront mortgage insurance premium 1.75% to 2.25%.
FHA required down payment is still 3.5% for those buyers with a credit score of at least 580. Even with these changes FHA financing is still a strong option for first time home buyers looking to take advantage of low prices and the home buyer tax credit being offered this year.
Related Florida real estate blog post: Financing
Showing posts with label FHA financing. Show all posts
Showing posts with label FHA financing. Show all posts
Nov 15, 2009
FHA insured loans are a popular choice among first time home buyers
FHA insured loans are a popular choice among first time home buyers who are taking advantage of the low house prices and first time home buyer tax credit being offered. According to a recent FHA report; "In the second quarter of 2009, nearly 50 percent of all first-time buyers in the entire housing market used FHA-insured loans."
FHA offers an affordable way for buyers to obtain a home loan. When I practiced real estate up north, FHA financing was a fairly common source for mortgages. Some of the benefits to a Florida home buyer using an FHA insured loan include:
FHA offers an affordable way for buyers to obtain a home loan. When I practiced real estate up north, FHA financing was a fairly common source for mortgages. Some of the benefits to a Florida home buyer using an FHA insured loan include:
- Approximately 97% financing
- The loan is subject to appraisal
- The home must meet minimum property conditions
It is easy to apply for an FHA loan. Watson Mortgage handles FHA loans and offers the buyer free consultation to determine if FHA is the right program for you.
Jun 1, 2009
Does anyone know of a good FHA lender in Orlando and Central Florida?
Q: Does anyone know of a good FHA lender in Orlando and Central Florida?
FHA financing is quickly becoming an attractive option for buyers needing to finance their home purchase. It is even more appealing now that HUD is allowing first time buyers to take advantage of the tax credit money before closing. This extra cash will help with closing costs or to increase the down payment.
Watson Mortgage is a very good source for buyers looking to finance a home with FHA. Call me at 407-304-0255 to be put in contact with one of our representatives.
Related Florida real estate views:
First time home buyer loans
Free home buyer consultation
FHA financing is quickly becoming an attractive option for buyers needing to finance their home purchase. It is even more appealing now that HUD is allowing first time buyers to take advantage of the tax credit money before closing. This extra cash will help with closing costs or to increase the down payment.
Watson Mortgage is a very good source for buyers looking to finance a home with FHA. Call me at 407-304-0255 to be put in contact with one of our representatives.
Related Florida real estate views:
First time home buyer loans
Free home buyer consultation
Jan 7, 2009
Are you buying a home that needs repair?
Search for homes
If you are thinking about buying a home that needs repair an option for you may be FHA’s 203(K) rehabilitation loan.
Small scale or major repair and renovations can be included in the 203K financing.
Contact me to speak with a Watson Mortgage Representative about this program.
Related Florida real estate views:
Hiring a home inspector
Seller disclosure: Termites & Wood rot
Should you buy a home in "as is" condition?
If you are thinking about buying a home that needs repair an option for you may be FHA’s 203(K) rehabilitation loan.
Small scale or major repair and renovations can be included in the 203K financing.
Contact me to speak with a Watson Mortgage Representative about this program.
Related Florida real estate views:
Hiring a home inspector
Seller disclosure: Termites & Wood rot
Should you buy a home in "as is" condition?
Nov 26, 2008
Can a buyer using FHA financing make an offer on a short sale or foreclosure?
Can a buyer using FHA financing make an offer on a short sale or foreclosure?
Yes, a buyer who is obtaining FHA financing can make offers on short sales or foreclosure property.
The problems the buyer might encounter could revolve around the FHA minimum required property standards. Minimum required property standards may result in items needing to be repaired or replaced in the home before the buyer will receive full loan approval. The short sale seller or REO lender may not be able or willing to make these repairs.
Make sure your buyer is aware that short sale and REO homes are often listed for sale in as is condition which could prevent the buyer from obtaining financing.
Contact me to discuss your real estate financing questions or use my new home search feature to find the right house for you.
Related Florida real estate views:
What is the effective date of a short sale contract?
Watson Mortgage has money to loan
Ask the seller to pay closing cost
Yes, a buyer who is obtaining FHA financing can make offers on short sales or foreclosure property.
The problems the buyer might encounter could revolve around the FHA minimum required property standards. Minimum required property standards may result in items needing to be repaired or replaced in the home before the buyer will receive full loan approval. The short sale seller or REO lender may not be able or willing to make these repairs.
Make sure your buyer is aware that short sale and REO homes are often listed for sale in as is condition which could prevent the buyer from obtaining financing.
Contact me to discuss your real estate financing questions or use my new home search feature to find the right house for you.
Related Florida real estate views:
What is the effective date of a short sale contract?
Watson Mortgage has money to loan
Ask the seller to pay closing cost
Jan 30, 2008
FHA home loans available in Orlando
FHA financing is fast becoming the choice for homebuyers looking to purchase a home in Orlando and Central Florida.
FHA insured loans offer loan programs that include minimum down payments and competitive rates. Qualifying for FHA financing is simple and stress free.
If you are buying a home in the Orlando area, you should ask us if going FHA is right for you.
Related Florida real estate views:
FHA loan limits
Obtain an FHA home loan when buying your next home
FHA home loans available in Orlando
- Greg Staker - Watson Realty Corp. - 407-304-0255
FHA insured loans offer loan programs that include minimum down payments and competitive rates. Qualifying for FHA financing is simple and stress free.
If you are buying a home in the Orlando area, you should ask us if going FHA is right for you.
Related Florida real estate views:
FHA loan limits
Obtain an FHA home loan when buying your next home
FHA home loans available in Orlando
- Greg Staker - Watson Realty Corp. - 407-304-0255
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