FHA is one of the most popular loan options because it provides a more lenient credit and income requirements than other mortgages. Also FHA Loans are guaranteed by the federal government and easier to qualify for than a conventional loan.  FHA loans allow for lower credit scores than conventional loans and, in some cases, lower monthly mortgage insurance payments Advantages of FHA Loans • You can qualify with a lower credit score compared to other loans. • You can buy a home with a down payment as low as 3.5%. • You may qualify even if you’ve had financial difficulties in the past, like a bankruptcy. • If you already have an FHA loan, you can refinance with FHA Streamline to lower your interest rate. • You offer lender credits to pay for your closing costs for both purchase and refiance The Benefits of Getting an FHA Loan from 1st Florida Lending • We are FHA-approved lender and process FHA loans every day. • Our process is completly digital which means saves time with paperwork. • We have FHA Loan experts available to help you understand whether an FHA loan is the right Load for you. • We offer great customer service whcih continues after you close. How FHA Loans Work • You get an FHA loan from an FHA- approved mortgage lender. • The loan is insured by the Federal Housing Administration. • Because of that insurance, the credit and income requirements for an FHA loan are more lenient. • To help fund the FHA program, in most cases you’ll pay mortgage insurance, which is added on to your monthly payment. • The home you want to buy will have to meet the FHA’s minimum property standards. WE OFFER THREE (3) FHA LOAN PROGRAMS

PROGRAM 3. MAX FHA PROGRAM - ZERO DOWN PAYMENT OPTION ZERO DOWN PAYMENT MAX FHA LOAN is a No Down Payment Assistance Program helps Non-First Time Borrowers obtain a 100% CLTV (Combined loan-to-value ratio) or No Down Payment and you DO NOT HAVE TO BE a FIRST-TIME HOME BUYER! How Does Down MAX FHA WORK? Down payment assistance programs work by helping first-time home buyers purchase homes with little or none of their own money or down payment. MAX FHA LOAN is a down payment assistance program that helps non-first- time borrowers obtain a 100% CLTV (Combined loan-to-value ratio) or ZERO DOWN PAYMENT HIGHLIGHTS • 100% CLTV FHA Loan (Combines 1st and Subordinate Lien) o 2nd lien with an interest rate 2% greater than 1st lien o Payment amortized over 10 years • No first-time homebuyer requirement • Non-occupant co-borrowers allowed • 600 Minimum FICO • Borrower’s minimum contribution of $0.00 • PRIMARY HOME PURCHASE ONLY • You do not have to be a first time home buyer! • Loan amount to Conforming limits • Conforming balance only • No income limit Eligible Properties: • Single Family Residences • 2 units - LLPA applies • PUDs • Townhouses • Condominiums (Must not be in litigation). Must be FHA Approved • Double wide manufactured housing available CLICK HERE TO REQUEST QUOTE Do you have FHA Loan Credit Issues? As FHA lenders, we will review your past credit performance while underwriting your loan. A good track record of timely payments will likely make you eligible for an FHA loan. The following list includes items that can negatively affect your loan eligibility: No Credit History If you don't have an established credit history or don't use traditional credit, your lender must obtain a non-traditional merged credit report or develop a credit history from other means. Bankruptcy Bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage. For Chapter 7 bankruptcy, at least two years must have elapsed and the borrower has either re-established good credit or chosen not to incur new credit obligations. Late Payments It's best to turn in your FHA loan application when you have a solid 12 months of on- time payments for all financial obligations. Foreclosure Past foreclosures are not necessarily a roadblock to a new FHA home loan, but it depends on the circumstances. Collections, Judgements, and Federal Debt In general, FHA loan rules require the lender to determine that judgments are resolved or paid off prior to or at closing. CLICK HERE TO REQUEST QUOTE