FHA Home Loan Hollywood Florida + FHA Mortgage Lenders Hollywood Florida
Florida FHA mortgage Lenders make owning a Hollywood, Florida home exciting because FHA takes a common-sense review for approvals rather than a credit-score-driven approach. Hollywood, Florida FHA mortgage lenders for refinancing or purchasing a home are easy because the FHA mortgage approves borrowers with acceptable payment histories instead of a credit score-driven approach. FHA offers what some call bad credit approvals because FHA goes down to a 500+ credit score with 10% down, or a 580+ credit score with 3.5% down.
Fort Lauderdale, Hollywood, Pembroke Pines, Miramar– Aventura– Hallandale
FHA-Mortgage-Lenders-Hollywood Florida
3440 Hollywood Blvd Suite 415, Hollywood, FL 33021
4C FHA Mortgage Checklist
| 1. CASH | Min 580 credit score qualifies for 3.5% down with 100% Hollywood Florida FHA mortgage options available. Or, 10% downpayment is required if your credit score is between 500 – 579. The seller can pay up to 6% of the closing cost this must be requested in your purchase contract. |
| 2. CREDIT | Minimum 500+ credit score – based on payment history, not credit score driven. |
| 3. CAPACITY | debt-to-income: Standard 31/43 – Max DTI 46.9-56.9% with AUS approval |
| 4. COLLATERAL | Single-family homes, multi-family 2-4 units, townhomes, villas, FHA-approved condos, manufactured, modular homes. |
Key Points
- Easy to Qualify – The FHA Mortgage is the easiest and most affordable.
- Manual Underwrite – FHA is manually underwritten and approved based on pay history.
- Credit Flexibility – Judgments and collections accounts don’t completely disqualify you.
- Non-first-time buyers – You don’t have to be a first-time buyerbut it must be your primary home.
- Bad credit– You could qualify with a 500+ credit score with 10% down and a 580+ with 3.5% down.
- Approved Property – single-family homes, 1-4 unit multifamily, Townhomes, Villas, and manufactured homes. Note: In Hollywood, Florida, very few condos qualify for an FHA mortgage. Search Hollywood, Florida FHA-approved condos
Common FHA Mortgage Questions And Answers
Q. How quickly can I get approved for an FHA mortgage?
We have sent out pre-approvals the same day an application was received.
Q. What’s the minimum credit score for an FHA mortgage?
The minimum credit is a 500+ with an acceptable payment history that includes a minimum of 30-day late payments in the last 12 months.
Q. Can I qualify for an FHA mortgage with no credit?
You can use alternate trade lines to qualify for an FHA mortgage that include proof of payments for rent, cellphone, water, and car insurance are examples.
Q. Can I qualify for an FHA loan with student loans in default? Hollywood, Florida FHA mortgage lenders use CAIVRS, or the Credit Alert Verification Reporting System, created by the U.S. Department of Housing and Urban Development. This system reports any delinquencies, defaults, federal liens, and foreclosures that relate to federal loan programs. If you are flagged on this reporting system as having student loans in default, you will not be approved for an FHA mortgage or any other type of government-backed mortgage.
Serving All Cities near Hollywood, Hollywood, Florida :
- Fort Lauderdale, FL
- Pembroke Pines FL
- Hollywood, FL
- Miramar FL
- Hallandale Beach, FL
- Dania Beach, FL
- Aventura, FL
- Ives Estates, FL
- Ojus, FL
- North Miami Beach, FL
- Norland, FL
- Lake Lucerne, FL
- Scott Lake, FL
- Golden Glades, FL
- Fort Lauderdale, FL
- Carol City, FL
- Davie, FL
- Cooper City, FL
- Hollywood, FL
Serving All Florida
This is a list of smaller local towns that we service around Hollywood, FL If you need an FHA mortgage lender near Hollywood, Florida, you have come to the right place. We are dedicated to making your FHA mortgage a win! We enjoy Hollywood, Florida, as a loan officer and bringing homeownership dreams to life. We will answer your questions in simple terms, help you through each step in home financing, and do everything in our power to help you go from getting pre-approved to relaxing at your Hollywood, FL home. Fort Lauderdale, Hollywood, Pembroke Pines, Miramar, Aventura, Hallandale
Hollywood FL First-Time Homebuyer Program
Qualified Hollywood, Florida buyers can receive a deferred payment loan at 0% interest, 15-year term, up to $50,000 to purchase property within Hollywood’s eligible Neighborhood Pride areas. There is no monthly payment and if the home is used as the primary residence for the 15-year loan term, the mortgage is satisfied. The loan would only need to be repaid if, during the 15-year loan term, the use changed, or the home was sold.
Hollywood, Florida First-Time Homebuyer Eligibility:
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An eligible First-Time Homebuyer is defined as an individual who meets any one of the following criteria:
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An individual who has had no ownership in a residential dwelling during the 3-year period prior to the date of the initial application for financial assistance.
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A single, divorced parent who has only owned a residential dwelling with a former spouse while married.
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An individual who is a displaced homemaker and has only owned a primary residence with a spouse and provides evidence of displacement suitable to City staff.
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An individual who has only owned a primary residence not permanently affixed to a permanent foundation.
Income Limitations:
Eligible annual gross Homebuyer’s household income may not exceed 120% of the Area Median Income.
| Household Size |
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| 120% AMI | $88,680 | $101,280 | $114,000 | $126,720 | $136,800 | $147,000 | $157,200 | $167,280 |
There is an annual reduction of 1/15th of the City’s total investment. If the home is sold, rented, ceases to be the primary residence of the beneficiary, or is transferred or conveyed by any other means during the Affordability Period, the City Lien or other security interest shall be immediately due and payable, with the amount due reflecting an annual reduction of 1/15th of the City’s total investment beginning on the date the Conditional Grant was issued and ending on the date the status of the property changed.
