FHA Home Mortgage
Core Financial is proud to be known as the Florida experts in the area of FHA home loans. With our massive lender resources, we can help borrowers obtain FHA mortgages at the most competitive rates.
An FHA mortgage is a government-backed home loan that has less stringent down payment and credit requirements than those for conventional loans. The program has been around since 1934 and has helped over 34 million people become homeowners.
Advantages of FHA home mortgages:
- Annual mortgage insurance premium – FHA borrowers are required to pay an annual mortgage insurance premium of up to .85% that will be added to the monthly mortgage payment. It varies based on the length of the loan, the amount borrowed and the initial loan-to-value ratio, or LTV.
- Upfront mortgage insurance premium – The FHA also charges an upfront mortgage insurance premium of 1.75% of the loan amount if the borrower’s down payment is less than 5%. This premium can be financed as part of the loan amount.
Core Financial will help you evaluate the different costs, interest rates and underwriting standards of FHA-approved lenders to make sure you get an FHA loan that’s the best fit for you.
If you are looking for a FHA Mortgage loan and you live in Naples Florida, Bonita Springs Florida, Fort Myers Florida or Cape Coral Florida, we have a Core Financial specialist here ready to work for you.
Alternatives to FHA Home Mortgage Loans
An FHA mortgage may be a good fit if you have less-than-excellent credit or limited cash for a down payment, but there are other opportunities Core Financial can help you explore. One example Core can do a manual undewrite mortgage down to a 580 middle credit score.
Families with low to moderate incomes may qualify for down payment assistance programs offered by Florida’s housing finance agencies or other programs offered by city and county agencies. These programs may offer down payment and closing costs assistance to eligible borrowers to make your home more affordable.
And there’s more good news! In today’s mortgage market, there are other home loan programs that require little or no money down. Core Financial has the expertise to help you find the right lender to meet your unique needs.
If you are lucky enough to have a low debt-to-income ratio of 50% or less, you may actually qualify for a conventional mortgage.
For single-family home loans under $510,400 Fannie Mae and Freddie Mac offer fixed-rate mortgages that require only a 3% to 5% down payment.
If you are a current member of the U.S. military or a veteran, you may be eligible for a VA Home Loan with little or no down payment. Mortgage insurance is not required, and bankruptcy and other derogatory credit do not immediately disqualify you.
The U.S. Department of Agriculture also offers a 100%, no-down-payment mortgage. The program is formally known as a Section 502 mortgage, but it’s more commonly called a Rural Housing Loan or a USDA Loan. And, it’s not just a “rural loan.” USDA loans are available to buyers in suburban neighborhoods, too!
Core Financial is the right choice if you are looking to purchase a home or refinance.
Our corporate headquarters is conveniently located in Florida. We have specialists in FHA loans and other mortgage packages standing by to take your call 24 hours a day and 7 days a week. Call us today at (239) 287-3691 for help finding home loans and mortgages at the most competitive wholesale rates.
NMLS ##25258- Rates, Programs, Guidelines are subject to change without notice.
This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval.
Expert Mortgage Brokers in FHA Home Mortgages
FHA Home Mortgages for first time homeowners
If you’ve got a question, we’re on call. Your mortgage broker will review your specific situation and find a mortgage lender and loan program that is tailored to match your needs. We’ll review each option with you in depth so that you can decide what’s best for you. Then we’ll make it happen. There’s never an mortgage application fee, so give us a try today.
We specialize in Home Mortgage loans such as FHA Home Mortgage Loans. Our offices are located in Naples Florida and Lehigh Acres Florida but we offer FHA Home Mortgage loans in Naples Florida, Marco Island Florida, Bonita Springs Florida, Fort Myers Florida, Cape Coral Florida, Lehigh Acres Florida, Sarasota Florida, Tampa Florida, Orlando Florida, Jacksonville Florida and Miami Florida.
Our mortgage brokers specialize in home mortgage loans such as USDA Home Mortgage, Conventional Mortgage Loans, FHA Mortgage Loans, VA Home Mortgage Loans, Jumbo Mortgage Loans, Refinance Mortgage Loans, and Reverse Mortgage Loans. Our mortgage offices are located in Naples Florida and Lehigh Acres Florida but we service the below Florida cities: