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FHA
An FHA Loan is a mortgage loan insured by the Federal Housing Administration (FHA). FHA does not provide the loan; rather, it insures the loan for the lender. If the borrower defaults, the lender can seek recourse from the Federal Housing Administration. This lowers the lender's risk and makes them more likely to issue a mortgage loan to you.
FHA limits the amount of money it will lend in different areas. Click our "Contact Us" button at the top of this page and email, text or call us and we'll be glad to let you know what the FHA loan limit is in your area!
Remember, the FHA loan limit for Pinellas County, Florida is $292,500! That will buy a lot of home in our area! With only a 3.5% down payment requirement and marginal credit ok, an FHA mortgage opens doors!
Benefits of an FHA-insured loan;
- Low mortgage rates! FHA interest rates are typically aligned with or lower than good credit, conventional rates!
- FHA Down payment requirement as of January 1, 2009 is 3.5%!
- FHA allows the seller to contribute up to 6% of closing costs.
- FHA loans are available for those with less-than-perfect credit.
- The 3.5% down payment may come from gift funds or a down payment assistance program.
- FHA does not allow the buyer to pay for any junk fees. Pinellas Financial does not charge junk fee's, but FHA offers assurance of this!
An FHA Home Loan provides an excellent opportunity to take advantage of our affordable housing market! Contact Pinellas Financial today to get Pre-Qualified for an FHA mortgage loan! It takes 5 minutes to get Pre-qualified. Pinellas Financial is a full service mortgage company located in beautiful Clearwater, Florida! We serve other states as well.
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