Vero Beach FHA Mortgages

Mortgage and Lending with USDA / FHA Mortgage Source

The FHA home loan continues to be a popular home financing option for home buyers in Vero Beach FL.   But it's important for buyers to understand what they are getting. Being a Government backed program, the FHA mortgage is about the safest home loan available today.  Low down payment of only 3.5%,  No pre payment or early payoff penalties, and plenty of fixed rate options are just a few of the FHA loan benefits. Below we have listed basic information you need to know before applying for an FHA loan in Vero Beach, purchase or streamline refinance.


  1. The Department of Housing and Urban Development, otherwise known as HUD, oversees the Federal Housing Administration (FHA) which is the administrator of the government’s home loan insurance platform. The FHA insures the loan of a qualified borrower for the lender.  FHA loans are underwritten and processed by approved Florida FHA lenders and banks.
  2. The FHA loan qualifying is not as hard as conventional loans that are sold off to the Federal Home Mortgage Corporation (Freddie Mac) or to the Federal National Mortgage Association (Fannie Mae). It is more flexible than almost any other conventional loan program available today in Vero Beach.
  3. Numerous individuals have this belief that FHA loans are strictly for first-time home buyers which is incorrect.  FHA is available to everyone and may be used to either refinance or purchase a home. They also do not require your current loan to be an FHA loan when you wish to refinance your debts and obligations.
  4. When applying for an FHA mortgage loan, it is important to always have income/ asset documents on hand to facilitate processing. They would require an accurate count of your expenses off your income as well as proof that you have a stable income.
  5. If you have great credit (over 680 credit score)  and especially 10% or more for a down payment, you may want to opt for a conventional loan. Most often than not, you may find even better deals from them compared to an FHA loan.
  6. FHA loans can be used for any HUD approved single family home, condo or townhome in Indian River County. The home being purchased must be in general good working order in regards to structural, electrical, plumbing, roof, etc.  



Homebuyer in Indian River County - Vero Beach can learn more about the FHA loan by calling FHA Mortgage Source at ph: 904-302-6060 or visit


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Jeff W

USDA /FHA Mortgage Source
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