Pinellas Park, FL FHA Mortgage Lenders
Florida FHA mortgage Lenders make the possibility of owning an Pinellas Park, Florida home exciting because FHA takes a common-sense review for approvals rather than a credit-score-driven approach. Pinellas Park, 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. Our Rent Own Florida FHA Mortgage Lenders allow you to PICK OUT THE HOME OF YOUR CHOICE listed for sale on the MLS and rent while you build equity.
- 3.5% Down with 100% Financing options available.
- Seller Paid Closing costs up to 6%.
- Gifts from family or Grants OK!
- No reserves are required.
- FHA-regulated closing costs.
FHA Mortgages Are Flexable:
- Higher debt ratios up to 56.9%
- Less than two years on the same job is OK!
- Self-employed OK!
FHA Mortgage Credit / Downpayment:
- FHA minimum 580 score = 3.5% down or 96.5% financing.
- FHA minimum 500+ credit score = 10% Down
- FHA purchase 12 months after a Chapter 13 Bankruptcy
- FHA purchases 24 months after a Chapter 7 Bankruptcy.
- FHA purchase 3 years after a Foreclosure.
- No Credit Score Approvals using alternate trade lines.
- FHA Cashout Refinance Up To 80% loan-to-value!
Rent To Own Pinellas Park Homes For Sale
Our Rent Own Florida FHA Mortgage Lenders allow you to PICK OUT THE HOME OF YOUR CHOICE listed for sale on the MLS and rent while you build equity. This unique rent-to-own Florida FHA mortgage program allows bad credit Florida mortgage applicants to first get pre-approved and then pick out the home of their choice. This option allows you time to position your credit and finances to qualify for an FHA mortgage.
4C FHA Mortgage Lenders Checklist
| 1. CASH | Min 580 credit score qualifies for 3.5% down with 100% Pinellas Park 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. |
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 loan with student loans in default?
Pinellas Park, 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.
Pinellas Park FL FHA Mortgage Lenders serving All Florida
This is a list of smaller local towns that we service around Pinellas Park, FL If you need an FHA mortgage lender near Pinellas Park, Florida, you have come to the right place. We are dedicated to making your FHA mortgage a win! We enjoy Pinellas Park, 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 Alafay,a FL home.
Safety Harbor, FL Clearwater, FL Dunedin, FL Oldsmar, FL Tampa, FL Palm Harbor, FL Egypt Lake-Leto, FL Citrus Park, FL East Lake, FL Lake Magdalene, FL Seminole, FL Saint Petersburg, FL Gulfport, FL Largo, FL Saint Pete Beach, FL
