2017 FHA Loan Down Payment Requirements Florida


2017 FHA Loan Down Payment Requirements Florida


FHA Loan Down Payment Requirements Florida. FHA requires a minimum down-payment of 3.50% for borrowers with a minimum credit score of 580. FHA requires a minimum down-payment of 10.0% for borrowers with credit scores below 580.

FHA loans have been helping people become homeowners since 1934. The FHA insures the loan, so you can get a better deal.

* Low down-payments

* Low closing costs

* Easy credit qualifying

FHA loans are continuing to support the nation's housing market recovery.

Verified Funds

Borrowers with credit scores above 580 may use their own funds, a gift from a family member, rent credit or borrowed. If you will be using your own funds for the down-payment you will have to provide three recent months statements showing the funds in your account.

If the down-payment will be a gift a signed gift letter will be needed from the giver. Ability to give the gift will also be needed. A statement from the giver's account will be needed showing the funds available. Any and all gift funds must be documented with canceled checks or wire transfer.

If your credit scores are below 580 the down-payment must be the borrowers own funds.

Credit

FHA announced a set of policy changes to strengthen the FHA. The changes announced are the latest in a series of changes enacted in order to better position the FHA to manage its risk while continuing to support the nation’s housing market recovery.

FHA has taken the following step:

Update the combination of FICO scores and down payments for new borrowers. New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%. Apply now. 



Apply Now!

Call us 888.958.4228



FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan

FHA loan requirements - ‎FHA loan limits - ‎FHA loans - ‎FHA Streamline


Mortgage World Home Loans is an online mortgage company specializing in FHA loans for first time home buyers. To buy a home with 3.5% down payment and a minimum credit score of 580 using an FHA loan, apply now.


We look forward to working with you.

Apply Now

Call us 888-958-5382


www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.


We look forward to working with you.

LOGO

Apply Now!

Call 800.516.9166

Email Us!



FHA Credit Score needed to buy
a house or refinance


FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%

FHA requires a minimum credit score of 500 to buy a home or refinance


Bankruptcy

Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date


Foreclosure

Foreclosure must have been resolved for at least 3 years

Government loan: Seasoning is determined by the date the claim was paid

Loans other than Government: Seasoning is determined by the date of sale the lender sold the property


Short Sale

FHA guidelines requires three year past from the date of sale of the property


What documentation will I need?

  • W2's or Personal tax returns for 2 years
  • Current pay stubs for the past month
  • Bank statements for last 2 months (all pages)
  • Clear copy of Driver’s License (front and back)
  • Clear copy of SS card (front and back)

Call Now, Our Staff is Available
888-958-4228


Apply Now!

Recent Articles

  1. NJ Mortgage, Mortgage Rates NJ, Mortgage Refinance NJ, NJ Home Buyer

    Feb 22, 24 06:39 PM

    Blog 1
    NJ Mortgage, Mortgage Rates NJ, Refinance Mortgage NJ, New Jersey Mortgage Rates, NJ First Time Home Buyer Mortgage, NJ Cash Out Refinance Mortgage.

    Read More

  2. NJ Refinance Closing Cost

    Feb 22, 24 06:37 PM

    Blog 1
    NJ Refinance Closing Cost, Lowest Refinance Closing Cost in New Jersey, Refinance Closing Cost in NJ, Mortgage Closing Cost, Refinance Closing Cost, NJ

    Read More

  3. NJ Refinance Investment Property

    Feb 22, 24 06:35 PM

    Blog 1
    NJ Refinance Investment Property, Lowest Refinance Investment Property Rates in New Jersey,

    Read More


LOGO

New Jersey Location

Call Now, Our Staff is Available!

800.516.9166

Z1.png