Jacksonville Florida FHA mortgage, Jacksonville FL FHA home loan
Jacksonville Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Jacksonville 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 Jacksonville Florida FHA loan program
Minimal Down Payment and Closing Costs
· Down payment less than 3% of Sales Price
· 100% Financing options available
· No reserves or required.
· FHA regulated closing costs.
· Seller can credit up to 6% of sales price towards buyers costs.
Easier Credit Qualifying Guidelines such as:
· No minimum FICO score or credit score requirements.
· FHA will allow a home purchase 2 years after a Bankruptcy.
· FHA will allow a home purchase 3 years after a Foreclosure.
Easier Debt Ratio and Job Requirement Guidelines such as:
· Higher Debt Ratio's than other home loan programs.
· Less than two years on the job is allowed.
· Self-Employed individuals o.k.
For Jacksonville FL banks and other mortgage lenders, the FHA mortgage loan financing offers the security of a government insured Mortgage. Win/Win! To learn more about FHA home loans in Jacksonville FL, call today at 1-800-570-0448 or just use our fast and easy quick application!
Jacksonville FL Florida FHA Loan Programs
At one point and time many years ago, the FHA loan was the only alternative to local bank financing for home buyers. In the fashion world, there is a saying: Wait long enough, and everything comes back into style. That rule applies just as well to Jacksonville Florida FHA mortgage program. Long-overlooked, the FHA mortgage is becoming popular again with Florida Home Buyers for its low rates and the real security it provides borrowers.
For Jacksonville FL banks and other mortgage lenders, the FHA mortgage loan financing offers the security of a government insured Mortgage. Win/Win! To learn more, call today at 1-800-570-0448 or just use our fast and easy quick application!
For Jacksonville FL first time home buyers and other borrowers, the FHA home loans can have key advantages:
Easy Qualification - The FHA loan insures lenders against loss for loans made to properly qualified FHA home loan borrowers. So you're likely to find FHA mortgage loans with terms that make it easier for you to qualify.
Minimal Downpayment Requirements - FHA mortgages can work with as little as 3% down and those funds can come from a family member, charity, or your employer. Although the FHA loan does not have a zero down mortgage option yet, you will find that your 1st Continental Mortgage loan officer can point you to many Downpayment assistance programs that work well with Jacksonville FL FHA home loans.
Less than A-1 Credit is Okay - The Jacksonville FL FHA home loan program exists to expand the pool of home buyers. Even borrowers with prior bankruptcies or mortgage lates get approved every day for FHA mortgages to buy or Refinance homes in Jacksonville FL or any of the other Florida counties we serve. The FHA loan program uses credit quality, not credit score!
Lower Cost Over the Life of the Loan - The Jacksonville FL FHA home loan rates are extraordinarily competitive. FHA's lower risk to the lender means a better rate for the borrower.
Safeguards for Borrowers Who Get Behind - The Jacksonville FL FHA loan mortgages also allow the lender more options in helping borrowers who fall behind keep their homes are get current again: special forbearance, workouts, even free mortgage counseling. Further, HUD can allow the lender to take past due payments and move them to the end of the loan and in some instance will actually pay your past due payments for you. Options to save your home you'll never get from a conventional loan! In an uncertain world, this is another excellent reason for you to get an FHA mortgage.
Options for Manufactured Housing - Under certain conditions, you can even finance a Mobile Home or manufactured home using a Jacksonville FL FHA mortgage loan. Call 1-800-570-0448 to get pre-approved for a Jacksonville FL FHA loan for manufactured housing or just use our quick application to learn more!
FHA Loans Are Fully Assumable - When you are ready to sell your home, you can offer buyers FHA financing! All FHA loans can be assumed by qualified buyers.
These are just seven of the many good reasons to apply for an FHA mortgage. Call 1-800-570-0448 to speak with a friendly Jacksonville FL FHA loan specialist now!
The FHA program has evolved since it started in 1934 and now has options for HUD insured loans that fit a variety of different borrowers and situations.
FHA Home Loans for Purchasing a Jacksonville FL Home
Although Jacksonville Florida FHA home loans require additional paperwork, the reality is that applying for an FHA mortgage loan in Jacksonville FL is not much different from applying for conventional financing. In fact, for many borrowers the small amount of extra time turns out to be an exceptional mortgage bargain because they save thousands of dollars over the life of their Jacksonville FL Mortgage.
At 1st Continental Mortgage, we have been working with the FHA program for many years. We're experts at assembling the proper paperwork and presenting your loan application to Jacksonville FHA approved lenders diligently and professionally. It's one of the ways that we have earned our reputation for closing FHA home loans in Jacksonville FL on-time.
You may be surprised at how flexible sellers are in the current market and how many programs there are that provide Downpayment assistance to applicants for FHA financing to purchase Jacksonville FL homes, Jacksonville FL condos, and Jacksonville FL townhouses. The fact is, seller can pay up to 6% towards your closing costs. This means, no closing costs for you when negotiated during the purchase contract!
The FHA program offers excellent fixed rate options and never a prepayment penalty. If other mortgage lenders are quoting you subprime rates, you owe it to yourself to make the call to 1st Continental Mortgage to compare the costs of getting an FHA home loan for your home purchase. Call 1-800-570-0448 to speak with an FHA mortgage expert before accepting any conventional mortgage quote as the best you can do!
FHA Home Loans Offer the Convenience of Streamlined Refinance
An FHA streamline refinance is one of the easiest Jacksonville home loans for Mortgage Lenders and borrowers. Since HUD approved you for the original FHA loan, the paperwork to refinance is minimal and the process is simple.
So long as you have made your Jacksonville FL FHA loan mortgage payments on time for the previous 12 months, you can lower your monthly payment if interest rates go down with minimal out of pocket expense. Even if you have been late on your FHA mortgage, you might still qualify for an FHA streamline refinance in Jacksonville FL under very specific conditions.
Less documentation and no appraisal are just two of the reasons a FHA streamline refinance is cheaper and faster for the borrowers who qualify.
Jacksonville FHA Home Loans For Mobile Homes with Land
Although some conventional lenders in Jacksonville Florida shy away from making a loan on Mobile Homes or manufactured homes, many FHA mortgage loan lenders do not.
In fact, mobile homeowners fortunate enough to connect with a Florida mortgage lender, who is well schooled in how FHA loans work for mobiles and manufactured homes, can get a better interest rate, better terms, and a lower monthly payment by going FHA in nearly every case.
If you're shopping for financing to buy a mobile or manufactured home on land in Sumter County or any of the other 66 counties in Florida that we serve, call 1-800-570-0448 and let us give you a quote for an FHA mortgage loan to purchase your mobile or manufactured home.
It only takes a few minutes to get an FHA loan mortgage quote on your Florida mobile home. We'll wager that the savings on your monthly mortgage payments will make it some of the highest paid work you've ever done.
Few people realize that the Jacksonville FHA loan uses the same underwriting criteria for single and double wide mobile homes and manufactured housing as it does for traditional site built block or stick homes. In addition, FHA is one of the very few programs that can offer up to 97% financing on mobile homes on land. In addition, did you know that the seller can contribute up 6% toward your closing costs on an FHA mobile home loan and that down payment assistance can be used in Florida? It's true! You could package your mobile home financing to create a real no money down loan with unbelievably low rates.
Call 1-800-570-0448 or use our secure online quick application for a free no obligation quote on financing your manufactured or mobile home using an FHA mortgage loan.
Jacksonville FL FHA Mortgage Loan
Streamline Refinance Requirements
When your Jacksonville FL 1st Continental Mortgage lender helps you get a streamlined FHA refinance on your existing mortgage loan, he or she will make certain that you meet these conditions:
- Your current mortgage must be an FHA mortgage.
- You must have had your FHA Mortgage for at least 6 months.
- You must have paid your mortgage on time for the most current 12 months.
- Your FHA Streamline Refinance must lower the principal and interest portion of your mortgage payment by at least $50 or convert the mortgage from an ARM to a fixed rate FHA home loan.
- You can't get cash out on the FHA streamline refi.
- You must have an FHA appraisal if you are rolling the closing costs into the FHA streamline refinance.
- Any existing liens on your Florida home must be subordinate to the new FHA mortgage.
Jacksonville FL FHA Mortgage Loan Refinance
Programs for Cashing Out Equity
Although a streamline refinance does not allow you to cash out equity, we have a FHA loan refinance program that is specifically designed for borrowers who want to cash out equity to consolidate debts, make home improvements or to access funds for other purposes.
Unlike many conventional loan programs, the FHA mortgage does not adjust the rate based upon loan to value or credit score. You will find the FHA has very reasonable underwriting guidelines for cash out refinancing.
We have helped many clients borrow up to 85% of the appraised value of their homes and use the funds to consolidate debts or to make home improvements and other purposes. Qualified borrowers will have to look hard to find lower rates and better terms than they can get on Florida FHA cash out refinance right now!
Home Buyer Financing, Homeowner Refinance, Construction Loans, FHA Loans, FHA Loan Limits, Mobile Home Loans, Foreclosure Help, Jumbo Mortgage Loans, Interest Only Loan, Real Estate Investors, Second Mortgage, Bad Credit Mortgage, Florida Mortgage Lender,
Call Jacksonville 1st Continental Mortgage today at 1-800-570-0448 or use our quick application to apply for an FHA refinance on your home in Jacksonville or any of the other Jacksonville Florida counties we offer FHA mortgages in.
Jacksonville FHA Mobile Home Lending Guidelines
The Department of Housing and Urban Development (HUD) sets forth these guidelines for determining if a mobile or manufactured home qualifies for an FHA mortgage loan in Florida:
- The mobile or manufactured home must be constructed in accordance with the Federal Manufactured Home Construction and Safety Standards. A red tag is attached to the rear of each section of homes that comply with the standards.
- The home must be taxed as real estate by the local tax assessor's office.
- The mobile or manufactured home must have been built after June 15, 1976.
- The mortgage must have a term of at least 30 years from when amortization begins.
- The mobile home or manufactured home must be on a permanent foundation.
- The axles and tongue must be removed from the mobile or manufactured home.
- The mobile home or manufactured home must have adequate skirting and insulation, and the crawl space must have adequate ventilation.
If you would like to determine if your mobile or manufactured home meets the guidelines for section 184 financing from FHA, call one of our Florida mortgage pros at 1-800-570-0448. We'll be glad to help you determine if the property that you are interested in can be used as collateral for an FHA mobile home mortgage.
FHA 203k Mortgages For Florida Homeowners Making Home Improvements
The FHA 203k loan program is nothing more than a specialized FHA home loan designed to help homeowners make home improvements. It is especially popular in neighborhoods with properties in need of rehabilitation.
The FHA 203k loans work in Florida communities in much the same way as Construction loans for home improvement. Eligible borrowers can use the proceeds from these mortgage to renovate and improve their primary residences.
Qualifying for a 203k FHA mortgage uses the same guidelines as a standard FHA mortgage for the purchase of a Florida home.
Target Borrowers for FHA 203K Mortgages
This specialized FHA mortgage is for Floridians who wish to buy a home that needs repairs or renovations. Just as is the case with a conventional construction loan, a single FHA 203k loan covers both purchase of the Florida real estate and renovation. FHA 203K financing can be used to purchase a property on a site and move it to a new foundation on the mortgaged property and rehabilitate it.
In addition, Florida homeowners can also use a 203k FHA mortgage to refinance existing debt when they finance one or more home improvements using the FHA 203k mortgage program.
Many borrowers are finding out what a good deal a Florida FHA home loan really is. Call 1-800-570-0448 today or simply use our quick application to find out more!
Your Jacksonville Florida Mortgage Lender
Providing Mortgage Services in Florida
To endure and be the most successful Jacksonville Florida mortgage lender, we have learned to adapt to a Florida real estate market that changes quickly. One reason 1st Continental Mortgage is still here after ten years, when so many other Florida mortgage businesses around the state have closed their doors, is how we treat our Mortgage clients.
We really do take a long-term view.
About five years ago, adjustable rate mortgages with five year fixed periods were the rage with most Florida Mortgage lenders.
However, not with our team.
Why take an ARM when interest rates were near historic lows?
As a mortgage lender in Jacksonville Florida, over the last ten years we've earned a reputation for listening to our clients and for recommending the mortgage solution that is best for their long-term home ownership goals. As a result, we receive a large number of new Florida mortgage loan business by referral from past clients and our real estate partners.
If you are fortunate enough to be looking to buy a home or Refinance an existing one in the current market, we'll be glad to offer you sound advice and friendly service. Service and advice you deserve from a Florida mortgage lender that's been around for a decade and will be around for the long haul. Call 1-800-570-0448 or use our quick application for a no-pressure and no-obligation quote on your Florida mortgage or refinance.
We are a Resourceful Florida Mortgage Lender with excellent Conventional and FHA Mortgages for First Time Home buyers
Although many lenders are tightening credit standards and demanding higher FICO scores and more money down, we still have excellent conventional home loan programs with no money down for 1st time home buyers. In the current Florida real estate market, selling Realtors® are often eager to offer 3% and even 6% toward closing costs to coax an offer from our FHA approved Home Buyers in Sarasota and other cities throughout Florida.
Don't let lack of a downpayment keep you on the sidelines in a prime Florida real estate market that offers some of the best buying opportunities in years. Call 1-800-570-0448 to discuss your first time home buyer mortgage options with a representative from the premier mortgage lender in Florida. You can even use our quick application for a no-hassle consultation. Even if you're not a first time home buyer, we have excellent fixed rate home loans with terms from 10 to 50 years.
A Reputable Florida Mortgage Lender
Offering Low Cost Jacksonville Florida Construction Loan Programs
The slowing Florida real estate market has also opened up excellent construction loan opportunities for buyers who are building custom homes. During the boom, it was tough to get the attention of the best custom builders and competition for premium lots was fierce.
Those applying for a Jacksonville Florida Construction loan will find supply and demand working in their favor in today's market. Builders are hungry and all too eager to complete a construction loan funded project ahead of schedule. For reliable answers and experienced help in applying for a Florida construction loan, you can count on a reputable Florida mortgage lender like 1st Continental Mortgage! Call 1-800-570-0448 right now or use our quick application to get started!
A Jacksonville Florida Mortgage Lender Motivated to Lend
Mobile Homes, Modular Homes and Manufactured Homes
Try finding a Mobile Home or modular home loan at your local Jacksonville bank and you'll quickly learn about one of the lasting prejudices in the world of mortgage lending. Many banks don't offer mortgages for mobile homes with land, modular homes, or double wide trailers on rural acreage. They're much more comfortable lending on traditional "Brick" built block homes in subdivisions. It's a sentiment we've heard from all across the state: Duval County, Seminole County, and Dade County!
We're a mortgage lender business that welcomes and understands that a manufactured homes can offer superior quality at an affordable price in a high cost housing market. We offer both FHA mortgage loans and conventional financing for purchasing or refinancing mobile homes on lots, modular homes, and double wide trailer homes on land.
For a free no obligation quote on a manufactured home mortgage, call 1-800-570-0448 or use our quick application. You'll know you have found the right Jacksonville Florida mortgage lender for your manufactured housing loan!
A Jacksonville Florida Mortgage Lender That Knows Investor Loans
Motivated sellers always look good to smart real estate Investors. In the near term, it looks as if Florida will have its share of homeowners and institutions forced to sell REO homes at a loss. At 1st Continental Mortgage in Jacksonville FL, some of our favorite repeat Jacksonville Florida mortgage clients are investors.
As a Jacksonville Florida mortgage lender, we understand the special needs of Florida real estate investors. Whether you are accumulating a portfolio of rental houses in Tampa to hold long term or buying and fixing REO homes in Tallahassee, Florida from asset managers at Jacksonville Florida lenders, we will be happy to help you close a competitively priced loan on time. If your investor loans aren't getting the attention they deserve from your Jacksonville Florida mortgage lender, why not try Jacksonville 1st Continental Mortgage?
To get a quote on your next Jacksonville Florida investor loan, call 1-800-570-0448 or use our secure quick application form. You'll find 1st Continental Mortgage deserves it reputation as an investor friendly Jacksonville Florida mortgage lender.
About Jacksonville is a city in the U.S. state of Florida and the county seat of Duval County. Since 1968, as a result of the consolidation of the city and county government (and a corresponding expansion of the city limits to include almost the entire county), Jacksonville has been the largest city in land area in the contiguous United States. Due to its enormous area, it ranks as the most populous city proper in Florida, despite being the center of only the fourth-most populated metropolitan area in the state.
In 2006, Jacksonville ranked as the United States' twelfth most populous city, with 794,555 residents. It is the principal city in the Greater Jacksonville Metropolitan Area, a region with a population of more than 1,450,000,. Jacksonville is the third most populous city on the East Coast, after New York City and Philadelphia.
About 25 miles (40 km) south of the Georgia border, Jacksonville is in the First Coast region of northeast Florida and is centered on the banks of the St. Johns River. The settlement that became Jacksonville was founded in 1791 as Cowford because of its location at a narrow point in the river where cattle once crossed. In 1822, a year after the United States acquired Florida from Spain, the city was renamed for the first military governor of the Florida Territory, General Andrew Jackson, who would later be elected President of the United States.
Mortgage Lender in Jacksonville Florida
Excellent Refinance Options For Florida Homeowners
As a Florida mortgage lender, we know well how quickly the world can change. Sometimes you outgrow your mortgage before you've outgrown the home that you financed.
Whether you need to make the move from a dangerous adjustable rate mortgage to a low Florida fixed rate mortgage or just want to do a refi to pull some cash out, chances are good we can help. We will be happy to review your present mortgage financing to ensure you're getting the right solution and that you do not have any prepayment penalties. For some clients, a Second Mortgage or home equity line of credit is a better way to create a financing solution. To discuss your situation with an outstanding mortgage lender who actually is in Florida, call 1-800-570-0448 or use our secure quick application form.
If you have a Bad Credit Jacksonville home loan, have been paying on time, and are ready for a low interest rate alternative, don't wait until your change date and attempt to pay your higher payment. Call us today at 1-800-570-0448 to see if we can move you to a fixed rate FHA mortgage and give you a stable long-term financing solution. We did it for a bad credit mortgage client in Duval County! Don't get stranded in a bad credit mortgage with accelerating payments! A Florida refi to a stable low rate loan solution today is far better than needing a hard money Florida Foreclosure bailout tomorrow.
A Jacksonville Florida Mortgage Lender
Capable of Handling Florida Jumbo or Super Jumbo Mortgages
The Fannie Mae loan limits have not increased as rapidly as real estate prices in Florida over the last five years. More and more homes, especially in more expensive coastal Florida counties, now require a Jacksonville Florida Jumbo or Super Jumbo home loan to purchase.
As an experienced Jacksonville Florida mortgage lender, we would be pleased to help you secure the best combination of rate and terms for your Jacksonville Florida home purchase.
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