Capital Home Mortgage Florida
Florida FHA Home Loans
Florida FHA Mortgage Lender
Welcome to Capital Home Mortgage Florida, a Florida FHA Mortgage Lender, that strives to provide Florida homebuyers and homeowners Florida FHA Home Loans at competitive Florida FHA Mortgages Rates with low fees while ensuring outstanding customer service. Whether you are a first time home buyer, looking to purchase in the city or country, or a repeat buyer a Florida FHA Home Mortgage might be right for you. We understand that purchasing a home is the most important decision of most people’s life, which is why Capital Home Mortgage Florida offers dedicated points of contact throughout the mortgage process. This assures a stress-free experience resulting with an on-time closing.
Capital Home Mortgage Florida is a direct Florida FHA Mortgage Lender that manages the entire lending process from beginning to end. Our in-house processing and underwriting enables for quick, common sense approvals and timely closings. We have complete control over everything from the application to the funding process.
Call today (239) 310-5599 to talk to one of our Florida Loan Officers.
Florida FHA Mortgage Rates
What is A Florida FHA Loan?
FHA stands for Federal Housing Administration has been helping American families secure housing since 1934. And this commitment to affordable homeownership lives to this day through the FHA home loan program, which plays an indispensable role in the country’s economy.
FHA home loans are a popular option for homebuyers in Florida and across the United States, particularly for those who may have lower credit scores or smaller down payments. FHA loan limits vary by county and are subject to change. These limits determine the maximum loan amount borrowers can qualify for based on the location of the property. Contact us today to find out your current FHA loan limits for Florida counties.
Florida FHA loans is that they typically require a lower down payment compared to conventional loans. The minimum down payment for an FHA loan is 3.5% of the home purchase price. Florida FHA loans are known for being more lenient with credit score requirements compared to some conventional loans. While there isn’t a specific minimum credit score required, borrowers with lower credit scores may still be eligible. Lenders may consider other factors, such as the borrower’s debt-to-income ratio.
FHA loans require mortgage insurance, which consists of both an upfront premium at the time of closing and an annual premium paid monthly. The mortgage insurance helps protect the lender in case the borrower defaults on the loan.
The property being financed with an FHA loan must meet certain standards set by the FHA. This includes basic safety and livability requirements. FHA appraisers will assess the property to ensure it meets these standards.
It’s important to note that loan terms and requirements can change, so its important to speak with a for the most up-to-date information on FHA home loans in Florida.
FHA Home Loans In Florida
Many people put off purchasing a home because obtaining a loan can be very difficult, mainly if you are not financially stable. As a result, many people choose to put off purchasing a home.
Are you worried that your credit score will possibly prevent you from obtaining a mortgage because of its low rating? Do you believe that you will be unable to afford the monthly payment? Have you ever been bankrupt or had your home foreclosed before?
FHA loans are an option if you have always aspired to be a homeowner but have yet to be prevented from doing so due to the above circumstances.
What is an FHA Loan?
An FHA loan is a government-backed mortgage loan that allows you to purchase a home with less stringent financial requirements. The Federal Housing Administration, an entity that falls under the jurisdiction of the Department of Housing and Urban Development, is the agency that provides insurance and backing for FHA loans.
Benefits of an FHA Home Loan
Easier Credit Qualifications
This type of government loan is popular among borrowers because the credit requirements are less stringent than those for a conventional loan. It’s one of the most lenient loans to obtain, especially if your credit is less than perfect.
FHA loans only require a mortgage FICO score of 580 to qualify for a 3.5% down payment. Borrowers with credit scores below 580 down to 500 may still be eligible with a 10% down payment, and certain restrictions will apply.
Higher Debt-to-Income Ratio Requirement
The difference between your debt and income is your debt-to-income (DTI) ratio. The standard DTI ratio for FHA loans is 43% but may go as high as 50% for some borrowers. Borrowers with compensating factors may even qualify with a 55% back-end ratio.
Low Down Payment
FHA requires a 3.5% down payment. Both first-time homeowners and those with limited funds prefer the FHA low down payment mortgage. It is acceptable to ask for assistance if you lack the funds for a down payment.
Lenient Gift Funds
When compared to conventional loans, FHA guidelines are more lenient. Family, close friends, an employer, a union, or government down-payment assistance programs can provide gift funds. On the other hand, Conventional loans accept gift funds from relatives. These include anyone related by blood, a spouse, a domestic partner, or a fiancé.
Affordable Mortgage Insurance
The FHA does not make loans or lend money. They provide mortgage insurance to lenders. This protects lenders against default and increases their willingness to approve loans and lend money. There would be fewer proud homeowners nationwide if not for this insurance.
Apply for an FHA Loan in Florida
Capital Home Mortgage Florida is a direct Florida mortgage lender and servicer that offers a complete line of Florida mortgage products to meet every need. We are an FHA-approved lender in Florida.
Whether you’ve lived in Florida your whole life or just moved here, our highly experienced home loan team will assist you in finding the best loan program to fit your budget and needs. Call us at (239) 310-5599 to speak with our FHA Loan Specialists.
Florida FHA Purchase Loans
Florida FHA Loans are mortgage loans for 1st time homebuyers, buyers with limited credit, buyers with less than perfect credit and buyers with higher debt to income ratios. As the goal of FHA is to make homeownership more attainable, FHA underwriting guidelines are less strict than other mortgage loan programs. The FHA flexibility allows for easier loan qualification making the barrier to homeownership less challenging.
- Simple Qualifying
- Smaller Down Payment
- Seller Paid Closing Costs
- Flexible Underwriting
- Higher Debt to Income Ratios
- Lower Credit Scores Allowed
- Manufactured Housing OK
Florida FHA Refinance Loans
Florida FHA Loans offers a streamline refinances that simply reduces the interest rate and lowers the payment or shortens the term of the loan. This rate and term option can be fully documented loans, or can be reduced documentation. The other FHA option is a cash-out refinance allowing homeowners the ability to access the equity in the property.
FHA Standard Refinance
- Appraisal Required
- 97.75% Max Loan to Value
- Closing Costs Can Be Rolled In
- 80% Max Loan to for Cash-out
- Cash-out Option Available
- County Loan Limits Apply
FHA Streamline Refinance
- FHA to FHA
- No Income Qualification
- No Appraisal Required
- Closing Costs Cannot Be Rolled In
- No Lates on Mortgage in Last Year
- Payment Must Drop on Fixed Rates
Florida FHA Renovation Loans
Florida FHA offers both a Streamline and Full Rehabilitation Loans. This is a great option for 1st time Florida home buyers looking to purchase a home that needs a little TLC.
- Purchase & Refinance Options
- Primary Residences Only
- Single, Multi Family & Condo’s
- As-Is Improved Renovated Value
- 203K Streamline
- Less < 35K, Cosmetic Repairs Only
- 203K Full Rehab
- Greater > 35K, No Restrictions
Apply for a Florida FHA Home Loan Now with Capital Home Mortgage Florida
Why Florida is Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates & Low Fees
Exceptional Service
7 Day a Week Support Application to Final Payment
Florida Mortgage Programs
Florida Home Purchase loans
Looking to Purchase a Florida Home?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
Florida Renovation Home Loans
Looking to Rehab a Florida Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
Florida FHA Home loans
Great 1st Time Florida Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
Florida va Home Loans
100% Financing for Florida Vets
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
Florida Conventional Home loans
Flexibility for Florida Homebuyers
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
Florida Jumbo Home Loans
Florida Non-Conforming Home Loans
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
Florida USDA Home loans
100% Rural Florida Home Loans
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
Florida Native american Home Loans
Florida Hud 184 Home Loans
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
Florida Manufactured Home loans
Great Florida Alternative Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
Florida Reverse Mortgage Loans
Your Florida Home at Work
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
Florida Non QM Home loans
Making Florida Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
Florida Construction Home Loans
Build Your Florida Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
Florida Refinance Mortgage loans
Florida Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
Florida Cashout Mortgage Loans
Florida Equity Mortgage Loans
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
