NMLS 218197
Hours: Mon - Fri : 9:00am to 6:00pm
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FHA Financing
Whether you are a first-time homebuyer or have owned a home before, you can purchase a Primary Home with FHA Financing.
Purchasing a home for the first time or at any time, can be an overwhelming process for some. That is why we make sure to walk you through the process from beginning to end and answer any questions you may have.
An FHA loan is a specific mortgage product insured by the Federal Housing Administration and there are many advantages to an FHA loan :
- Credit Scores as low as 580 are acceptable with minimum 3.5% down
- Interest rates lower than Conventional Financing programs
- Up to 6% seller contributions towards buyer's closing costs allowed
- Gift of funds are allowed, if needed for down payment and/or closing costs
FHA Mortgage Acceptable Property Types:
- Single Family Homes
- Condos / Apartments
- Multi-Family
Waiting periods AFTER a Foreclosure, Short sale or Bankruptcy
with FHA Financing
After a Foreclosure - waiting periods to purchase/refinance are as follows...
- 3 years from date the foreclosure's Certificate of Title was recorded in Public Records
After a Short Sale - waiting periods to purchase/refinance are as follows...
- 3 years from date the short sale closing took place
After a Bankruptcy 7 - waiting periods to purchase/refinance are as follows...
- 2 years from discharge date
Conventional Financing
With Conventional Financing, you can purchase or refinance a primary, 2nd home or Investment home.
There are many advantages on a Conventional loan such as:
- Scores as low as 620
- 3% minimum down payment for first time home-buyers
- Property taxes and insurance escrows may be waived up to 95% Financing
- Up to 3% seller contributions towards buyer's closing costs
- Gift of funds are allowed, if needed for down payment and/or closing costs
Conventional Mortgage Acceptable Property Types:
- Single Family Homes
- Condos / Apartments
- Multi-Family
Waiting periods AFTER a Foreclosure, Short sale or Bankruptcy
with Conventional Financing
After a Foreclosure - waiting periods to purchase/refinance are as follows...
- 7 years from the date when the foreclosure's Certificate of Title was recorded in Public Record
- If included in a BK 7, waiting period is 4 years from the BK discharge date
After a Short Sale or Deed in Lieu - waiting periods to purchase/refinance are...
- 4 years from the date of short sale closing
- 4 years from date Deed in Lieu was recorded in Public Records
After a Bankruptcy 7 - waiting periods to purchase/refinance are...
- 4 years from the BK 7 discharge date
Please feel free to
contact us
and we can discuss your current situation in further detail and also discuss financing options available to you.
Address:
15800 Pines Blvd - Suite 3100
Pembroke Pines, FL 33027 USA
Hours:
Mon - Fri : 9:00am to 6:00pm
Sat - Sun : Closed