100% Florida FHA Mortgage Lenders

100% Florida FHA Mortgage Lenders

Yes, a 100% no-down-payment, no money down,  Florida FHA mortgage. No money down Florida FHA mortgage offers 96.5% 1st mortgage and 3.5% 2nd mortgage = 100%. Florida FHA mortgage lenders. Or with 3.5% downpayment assistance or 3.5% 2nd mortgage = 100% Florida mortgage lenders. To make this a true 100% financing option. Your purchase contract must request the Sellers to pay 6% to cover your closing costs. To find Florida downpayment assistance programs, click here.

FHA 100% No Downpayment Florida Mortgage Lenders – Subject To Qualifying

Florida mortgage lenders’ FHA 100% CLTV Combo program is designed to increase homeownership opportunities for low-to moderate-income individuals and families by offering 100% financing in the form of an FHA first lien at 96.5% and a second lien of up to 3.5% to cover down payment and/or closing costs. There is no borrower income cap and Florida mortgage applicants do not need to be first-time homebuyers in order to qualify. Florida FHA mortgage 100% CLTV first lien and second lien products must be closed concurrently under this program. This program is offered in all of Florida. All FHA mortgage loans must meet  FHA Guidelines. Refer to the FHA Single Family Housing Policy Handbook 4000.1 for FHA Requirements.

100% Financing Florida FHA-Mortgage-Lenders-

FHA 100% Mortgage Specifications

•600 Minimum FICO Score Per Borrower with AUS approval
•**Manual Underwrites Allowed – 600 Minimum FICO Required**
•No First-Time Homebuyer Requirement
•FHA – Non-Occupant Co-Borrowers Allowed
•FHA 1st Lien + 96.5% LTV
•DPA 2nd Lien = 3.5% of Purchase Price or Appraised Value, lesser of the two
•Funds Can Be Used for Down Payment
•Funds Can Be Used for Closing Costs
•Follow the Agency Guidelines for UW

No Income Limits – •No cap on qualifying income 

Qualifications subject to change.

Program Fees

•Any Customary Fees are allowed (i.e., Appraisal, Credit Reporting, Survey, Title Insurance, etc.)
•Maximum Seller Paid closing cost up to 6% needed for no down payment.
• Appraisal $600 and home inspection estimate $400 = $1000 

Eligible Borrowers

•US Citizens
•Permanent resident
•Inter Vivo Revocable Trusts
•Non-Occupant Co-Borrower

Eligible Properties

•Single Family Detached – 1 Unit
•Single Family Attached – 1 Unit
•Duplexes – 2 Units
•Planned Unit Developments (PUDs)
•Townhouses
•Condos: Agency Approved/No Litigation
•Manufactured Homes: Double-Wide Only
•Owner Occupied Only

Terms 

•Interest Rate = 1st TD Note Rate + 2% **Check Daily Rate Sheet for Changes**
•Fully Amortizing Loan for 120 Months
•Include Payment in DTI Calculation
•Cannot be Subordinated
•3.5% of the Sales Price of Appraised Value, the lesser of the two.

100% Florida FHA mortgage Lenders No Money Down Florida FHA Mortgage Lenders

FHA Mortgage Information

Florida 100% Mortgage In Every City in Florida including: