Cape Coral FHA Loans

Cape Coral FHA loans maximum loan limits is $331,760 for owner occupied single family homes, PUD's, condominium projects, land contracts and manufactured homes (minimum doublewide).

Cape Coral FHA loans have been helping people become homeowners since 1934. A perfect credit score is not needed for an FHA loan approval. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to get an FHA loan than a conventional loan.

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. Cape Coral.

FHA requires a minimum credit score of 500. There are no income limits like you may find with first time home buyer programs. However, there are limits on how much you can borrow.

  • 203(b) FHA purchase program provides mortgages for home buyers  to purchase a principal residence with a low down payment and with lower credit standards.
  • 203(k) FHA purchase program is for the rehabilitation and repair of single family properties. Providing both the financing to purchase a property and the financing to make repair. The program offers an important tool for expanding home ownership opportunities.
  • HUD $100 down payment program for borrowers purchasing single-family HUD Real Estate Owned (REO). The program is limited to owner-occupant buyers who have not purchased a HUD REO property within the last 24 months.
  • Lease with option to buy mortgage. Lease with option to buy allows a renter to buy the property they are renting. A lease option mortgage allows for sellers credit.
  • Gift of equity mortgage loan. A gift of equity is a transfer of ownership of a property to a family member or someone. Gift of equity down payment and gift funds requirements.

Cape Coral FHA allows a home buyer to make a down payment of 3.50% and a seller contribution of up to 6% for closing costs with only a 580 minimum credit score. First time home buyer with credit scores below 580 must make a minimum 10.0% down payment of the purchase price and a seller concession of up to 6% to pay for closing cost is allowed.

Cape Coral FHA requires a minimum down payment of 3.50% of the purchase price. The funds may be the borrower's own funds, a gift from a family member, rent credit or borrowed. FHA regulates some of the closing costs associated with a FHA loan.

Lee County 2020 FHA loan limits.

Apply Now!

Call us 305-748-3007

www.MORTGAGE-WORLD.com, LLC is a online mortgage company specializing in FHA loans for borrowers with less than perfect credit.

www.MORTGAGE-WORLD.com, LLC es una compañía hipotecaria en línea especializada en préstamos FHA para prestatarios con un crédito menos que perfecto.

FHA Loans

English

305-748-3007

Recent Articles

  1. Refinanciar Despues De La Bancarrota

    May 19, 22 07:22 AM

    Refinanciar despues de la bancarrota! Préstamo FHA puntaje de crédito mínimo de 500 para calificar para el retiro de efectivo del 80% del el valor de la casa.

    Read More

  2. FHA Construction to Permanent Loan

    May 17, 22 08:34 AM

    FHA construction to permanent loan. Do you want one loan to buy the land, build a new home with a construction loan and then have the loan convert to a permanent loan with only 3.5% down?

    Read More

  3. FHA Cash Out Refinance Requirements

    May 17, 22 08:33 AM

    FHA cash out refinance allows you to refinance up to 80% of the value of the property with a minimum credit score of 500. Use the equity you have built up in your home to cash out with an FHA loan.

    Read More

Call Now, Our Staff is Available!

305-748-3007

Apply Now!