HOLLYWOOD FHA,VA, CONDO MORTGAGE LENDERS - HOLLYWOOD FLORIDA FHA DOWN PAYMENT ASSISTANCE 100% MORTGAGE LENDERS
HOLLYWOOD FLORIDA FHA DOWN PAYMENT ASSISTANCE MORTGAGE LENDERS EXPLAINED-The Florida Down Payment Assistance Mortgage Lenders (DAP) is a competitively priced government loan program that does not require a minimum down payment from the home buyer(s), exclusively offered from Florida Down Payment Assistance Mortgage Lenders . Florida Down Payment Assistance Mortgage Lenders provides you) with a choice of a 3%, 4%, 5%, or 6% DAP.
Florida-Mortgage-Lenders.com is a leading Hollywood Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Hollywood Florida people become homeowners since 1934. Hollywood Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Hollywood Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
The 100% NO money down Florida mortgage loan program is designed to increase home ownership opportunities
for Florida individuals and families. DAP funds available, 3% up to 6% of the first mortgage loan amount. This 100% NO money down Florida mortgage loan program is a purchase money first lien mortgage with Down Payment Assistance is in the form of a soft second lien or a 2nd mortgage with a 5-year term, forgiven at month 61, as a 0% interest second lien. This 100% NO money down Florida mortgage loan program requires you to remain current on their first mortgage for the second mortgage to be forgiven.
100% NO MONEY DOWN KEY POINTS FOR FLORIDA HOME BUYERS
- • No requirement to be a first time home buyer.
- • Must have a minimum 640 credit score.
- Must have Max Debt to income of 45%.
- • Must meet Income Limits (up to 140% AMI)
- • First lien is a 30-year fixed term with full amortization
- • 203(b) in accordance with FHA guidelines
- • Primary residence 1-4 units single family is allowed.
- • DAP funds available, 3% to 6% of the first mortgage loan amount.
- What if I live rent free? Yes (If Borrower does not have current housing history, then 3
months reserves (PITIA) are required)
- Min 640 credit score is required for no money down mortgage lenders.
- Must DU approved - Computer must approve you for no money down Florida mortgage lenders.
- Min 640 - 659 max Debt to Income Maximum 45% for housing plus all other payments on your credit report.
- NO late payments- Requires VOR or verification of rent history for most recent 12 months.
- Cannot payoff debt to qualify after we pull your credit. Better to pay down debts first before applying for no money down Florida mortgage lenders.
- No Delinquent taxes - Taxes must be current .
- NO NSF in the last 12 months with possible 1 exception.
- Income limits apply based on county for no money down Florida mortgage lenders.
HOLLYWOOD FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Hollywood 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.
HOLLYWOOD FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Hollywood Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Hollywood 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.
• Hollywood 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.
HOLLYWOOD 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 Hollywood 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 Hollywood Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Hollywood Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Hollywood Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN HOLLYWOOD FLORIDA
HOLLYWOOD FLORIDA FHA APPROVED CITY DATA
Hollywood is a city in Broward County, Florida. As of 2013 Hollywood has a population of 146, 526.Founded in 1925, the city is now the twelfth largest city in Florida. Hollywood is a principal city of the South Florida Metropolitan Area, which was home to 5,564,635 people at the 2010 census.
HOLLYWOOD FLORIDA FHA CITY DATA:
Males: 70,924 (48.4%)
Females: 75,602 (51.6%)
Median resident age: 41.4 years
Florida median age: 41.0 years
Zip codes: 33020, 33021, 33023.
Estimated median household income in 2012: $44,105 (it was $36,714 in 2000)
Estimated per capita income in 2012: $25,716 (it was $22,097 in 2000)
Estimated median house or condo value in 2012: $161,000 (it was $98,300 in 2000)
Mean prices in 2009: All housing units: $315,875; Detached houses: $355,555; Townhouses or other attached units: $308,754; In 2-unit structures: $285,983; In 3-to-4-unit structures: $344,830; In 5-or-more-unit structures: $223,466; Mobile homes: $70,223; Occupied boats, RVs, vans, etc.: $21,526
Median gross rent in 2012: $965.
Hollywood FHA MORTGAGE / Hollywood VA / Hollywood Hollywood FHA REFINANCE / Hollywood NO CREDIT / Hollywood BAD CREDIT / Hollywood HARD MONEY / Hollywood LOAN INFO / Altamonte SpringsHA INFO / FHA LOAN LIMITS
About the City of Hollywood
Joseph W. Young founded the city; he dreamed of building a motion picture colony on the US east coast and named the town after Hollywood, California. Young bought up thousands of acres of land around 1920, and named his new town "Hollywood by the Sea" to distinguish it from his other real estate venture, "Hollywood in the Hills", in New York. After the 1926 Miami hurricane, Hollywood was severely damaged; local newspapers reported that Hollywood was second only to Miami in losses from the storm.
According to the United States Census Bureau, the city has a total area of 30.8 square miles (80 km2). 27.34 square miles (71 km2) of it is land and 3.46 square miles (9 km2) of it is water (11.23%).
As of 2000, there were 59,673 households out of which 24.9% had children under the age of 18 living with them, 41.5% were married couples living together, 11.9% had a female householder with no husband present, and 42.2% were non-families. 34.4% of all households were made up of individuals and 13.1% had someone living alone who was 65 years of age or older. The average household size was 2.31 and the average family size was 3.00.
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