620 E. 5th Ave.
Mount Dora, FL 32757
352-383-3046 APPLY ONLINE NOW

fha FHA Home Loans

A perfect loan for first time home buyers or individuals who need a low down payment option.

The U.S. Department of Housing and Urban Development (HUD) oversees F.H.A. loans (Federal Housing Administration).

Here are the features:

  • Requires only 3.5% down
  • The seller can pay up to 6% of the purchase price towards buyers’ closing costs.
  • Mortgage insurance is required and is a part of the monthly payment no matter the amount of down payment.
  • Credit scores requirements are 620 and above .
  • Fixed and adjustable rate loans are available, 30 year and 15 year amortizations.
  • These loans are assumable and there are no pre-payment penalties.
  • There are no income limits like there are for U.S.D.A. loans.