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What is an FHA loan?

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An FHA home loan is a mortgage that is insured by the Federal Housing Administration (FHA). Started during the Great Depression, FHA loans historically allowed lower-income Americans, who might not otherwise qualify for mortgages, to buy homes. FHA loans are a popular option for certain first-time home buyers due to flexibility and less stringent credit terms. The down payment can be as low as 3.5 percent of the home’s purchase price.

FHA (Federal Housing Administration)

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Property Type:

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  • SFR, PUD, Townhome and Approved Condos

  • See if my Condo is FHA Approved

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Income Docs:

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  • Two years W-2’s, 1099, K-1, 1040 and 1065 or 1120 for Self – Employed with ownership 25% plus

  • Last two paystubs and Profit and Loss Statement for Self – Employed

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Assets:

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  • Two Month Bank Statements ( All large deposits must be sourced )

  • 401K – IRA etc.

  • Stocks and Bonds

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Credit:

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  • Minimum 580

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Note: Programs are subject to change without notice. Each program has its own set of underwriting guidelines; please contact one of our Loan Professionals to find out the latest and specific program requirements.

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To learn if you qualify for fha mortgage in florida contact us by phone 305.494.7494

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Questions about whether you qualify?
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Our Home Loan Specialists are available 24/7 to answer any questions you have about the FHA (Federal Housing Administration) Program.

Call a loan officer with questions or to get started.

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321-234-8811

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Mon.–Fri. 9 a.m.–5 p.m. ET 

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Think Outside the Bank

 

Silver Star Mortgage, LLC

Tel. 321-234-8811  Fax. 407-386-7043

5205 S Orange Ave Ste #220
Orlando, Fl 32809

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