What is an FHA loan?
A Federal Housing Administration (FHA) loan is a government insured loan. Since an FHA home loan is insured by the government, FHA-approved lenders like Inlanta Mortgage can often offer you a better deal including:
1. Low down payments
2. Low closing costs
3. Less restrictive credit qualifications
Are you a first time home buyer?
With an FHA home loan, your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. FHA loans are available on 1-4 unit properties.
What are the FHA loan requirements?
FHA insured loans require mortgage insurance premiums (MIP) to protect lenders against losses that result from defaults on home mortgages. FHA lending limits vary by housing types and state. Contact a licensed Inlanta Mortgage professional to find out the limits that would apply in your area of Florida at 1-888-936-4232.
The FHA has established debt-to-income ratios that homebuyers must meet before they can qualify for an FHA home loan. An FHA loan applicant’s past credit performance that demonstrates good credit history and a solid track record of timely payments will likely be eligible for the mortgage.
Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved.