Posted by admin on Jan 22, 2011 in
Loans FHAÂ loan Florida, FHA mortgage Florida, FHAÂ mortgage lender FLorida, FHA Home loan,
FHA loans are Gaining Florida Market Share
FHA loans in Florida are gaining Florida market share at an incredible pace.  Four years ago very few sellers would accept an offer from an FHA buyer who wanted to take advantage of an  FHA mortgage loan in Florida.  This is because it was a sellers market.  In fact most Florida sellers wouldn’t accept an offer where the home was not sold, “as is”.  This meant that the Florida buyer would be responsible for any repairs and all repairs  needed to the property uncovered in the home inspection.  Since Florida sellers would just kill the contract, wait 2 weeks and more than likely have a higher offer from a Florida buyer willing to pay more.
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The Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:
Minimal Down Payment and Closing costs. Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs. Easier Credit Qualifying Guidelines such as: No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase2 years after a Foreclosure.
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Apply for FHA financing in Florida at www.FHAMortgageFHAloan.com
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Read more... Tags: FICO, Florida, Gaining, Loans, Market, Share
Posted by admin on Jun 11, 2010 in
Credit Tips
While having your own home is an important part of your financial picture, too many people make decisions without thinking things over. Many people have what I would like to call a “pie in the sky” view of life. They tend to think that when things are going well it will always be that way; this is not always the case. Making a mistake with your mortgage is a fast way to end up with terrible credit. When some people find that they qualify for a mortgage, they make the mistake of going out and taking on new debts.
But doing this could be a big mistake. There have been cases where people who thought they would get a mortgage went out and got an expensive car, only to find out at the last minute that the mortgage couldn’t be approved. You should never assume that you will get anything until you actually have it. Another thing you will want to avoid is changing your job while you’re in the process of applying for a mortgage. When lenders look at your credit history and employment data, they want to deal with someone who has stable employment and good credit.
If you suddenly change your job while you’re in the middle of setting up a mortgage, this could give your lender the impression that you are not stable. They may then begin to see you as a risk. If you get into a situation where you have to change your job while applying for a mortgage, contact the lender and let them know what you plan to do. When you change your job, the lender wants to make sure you will be able to meet your payment obligations on the house. Between the pre-approval and closing stage, lenders need important information about your finances. Unfortunately, many people are already packing up to move into their new house during this time. Read more...
Tags: Avoid, Credit, Gaining, Mortgage, Tips