FHA Home Loan Florida

If you are a first-time Florida homebuyer, or a Floridian borrower with less-than perfect credit, then an FHA home loan may be perfect for you.  Due to recently increased credit restrictions in the sub prime market, FHA home loans in Florida have surged in popularity.  
Katz Mortgage Team, backed by Fairway Independent Mortgage Corp. is pleased to announce they are now offering the following government-backed FHA home loan programs in Florida.  These FHA programs are perfect for first-time homebuyers, and especially for borrowers with less than perfect credit living in Florida.

Stephen Katz, of Katz Mortgage Team, based in Atlanta, Georgia states, "It is no secret that over last 3 months there has been a real credit crunch in the weaker credit markets in Florida and across the country. Many of our Florida borrowers who have credit issues are now turning to FHA home loans for home financing, whether they are looking to purchase a new house or refinance their current home. FHA home loans are a great alternative to other programs. Since there are no minimum credit score requirements, many Florida borrowers who have had credit problems in the past can now get a second chance with FHA home loans. Florida borrowers who have put at least one year of good credit under their belts, or two years since a bankruptcy, have an excellent chance of getting approved.”
Unlike most sub prime loans, FHA does not have any pre-payment penalties. FHA home loans are insured by the government, but unlike other government programs, there are no income limits. Mortgage insurance has also been reduced in half and is now tax deductible. 

“FHA had been dormant for years, but has now been given a second life. For current homeowners in Florida, we can help them pull out 95% of their equity. In fact, FHA cash-out refinances have actually out- numbered purchase transactions.  There are fixed rates, adjustables, and buy-downs available,” states Katz. “FHA home loan programs are open to everybody and the rates are fantastic”.
FHA home loans have been updated with new higher loan limits up to $544,000 depending on the county; however, most metropolitan counties have a limit between $200,000 and $300,000. To find out what the FHA loan limits are in your county, please click here.
We handle all these Florida FHA transactions in house so that your FHA home loan closes smoothly, and on time.

• Purchase loans up to 100% LTV with down payment assistance
• 95% Cash-Out Refinance- For current homeowners, we can help you pull out 95% of your equity, regardless of your current loan program
• Streamline Refinancing - reduced amount of documentation and underwriting required if you already have an FHA home loan