MELBOURNE SHORES FL FHA MORTGAGE LENDERS
Florida-Mortgage-Lenders.com is a leading Melbourne Shores Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Melbourne Shores Florida people become homeowners since 1934. Melbourne Shores Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Melbourne Shores Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
MELBOURNE SHORES FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Melbourne Shores FL Down payment only 3.5% of the purchase price.
• Gifts from family or Grants for down payment assistance and closing costs OK!
• Seller can credit buyers up to 6% of sales price towards buyer's costs.
• No reserves or future payments in account required.
• FHA regulated closing costs.
MELBOURNE SHORES FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Melbourne Shores Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Melbourne Shores Florida 24 months after a chapter 7 Bankruptcy.
• FHA will allow a FHA mortgage 3 years after a Foreclosure.
• Minimum FICO credit score of 580 required for 96.5% financing.
• Melbourne Shores Bad credit Florida FHA mortgage approvals minimum FICO credit score of 530 required for 90 FHA financing.
• No Credit Score Florida mortgage loans & No Trade Line Florida FHA home loans.
MELBOURNE SHORES FLORIDA FHA MORTGAGE LOANS ALLOW HIGHER DEBT TO INCOME & EASIER JOB QUALIFYING:
• FHA allows higher debt ratio's than any other Florida home loan programs.
• Less than two years on the same job is OK!
• Self-employed buyers can also qualify for FHA.
• Check Florida FHA Mortgage Articles for more information.
During the Melbourne Shores Florida Housing Boom the FHA Mortgage had become an uncommon mortgage loan product because of the plentiful supply of credit including Subprime, Conventional, and Fannie Mae. Many Melbourne Shores Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Melbourne Shores Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Melbourne Shores Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN MELBOURNE SHORES FLORIDA
MELBOURNE SHORES FLORIDA FHA APPROVED CITY DATA
MELBOURNE SHORES FLORIDA:
Melbourne Shores is an unincorporated community in Brevard County, Florida, United States. It is located on a barrier island southeast of the city of Melbourne and east of the town of Grant-Valkaria. It is just north of the unincorporated community of Floridana Beach. The community is part of the Palm Bay–Melbourne–Titusville Metropolitan Statistical Area.
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MELBOURNE SHORES FLORIDA FHA CITY DATA:
Males: 3,613 (49.5%)
Females: 3,694 (50.5%)
Median resident age: 53.1 years
Florida median age: 38.7 years
Zip code: 32951
Estimated median household income in 2012: $62,214 (it was $54,043 in 2000)
Melbourne Shores-Floridana Beach: $62,214
Estimated per capita income in 2012: $42,496 (it was $34,932 in 2000)
Melbourne Shores-Floridana Beach CCD income, earnings, and wages data
Estimated median house or condo value in 2012: $231,288 (it was $160,800 in 2000)
Melbourne Shores-Floridana Beach: $231,288
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