Florida-Mortgage-Lenders.com is a leading Longboat Key Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Longboat Key Florida people become homeowners since 1934. Longboat Key Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Longboat Key Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
LONGBOAT KEY FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Longboat Key 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.
LONGBOAT KEY FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Longboat Key Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Longboat Key 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.
• Longboat Key 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.
LONGBOAT KEY 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 Longboat Key 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 Longboat Key Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Longboat Key Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Longboat Key Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN LONGBOAT KEY FLORIDA
LONGBOAT KEY FLORIDA FHA APPROVED CITY DATA
LONGBOAT KEY FLORIDA:
Longboat Key is a town in Manatee and Sarasota counties along the central west coast of the U.S. state of Florida, located on and coterminous with the barrier island of the same name. Longboat Key is south of Anna Maria Island, between Sarasota Bay and the Gulf of Mexico. It is almost equally divided between Manatee and Sarasota counties. The town of Longboat Key was incorporated in 1955 and is part of the Bradenton–Sarasota–Venice Metropolitan Statistical Area.
LONGBOAT KEY FLORIDA FHA CITY DATA:
Males: 3,228 (45.6%)
Females: 3,854 (54.4%)
Median resident age: 70.4 years
Florida median age: 40.3 years
Zip codes: 34228.
Estimated median household income in 2012: $93,937 (it was $90,251 in 2000)
Longboat Key: $93,937
Estimated per capita income in 2012: $90,763 (it was $80,963 in 2000)
Estimated median house or condo value in 2012: $550,180 (it was $372,100 in 2000)
Longboat Key: $550,180
Mean prices in 2009: All housing units: $832,470; Detached houses: $936,775; Townhouses or other attached units: $740,773; In 2-unit structures: $493,990; In 3-to-4-unit structures: $431,680; In 5-or-more-unit structures: $825,956; Mobile homes: $116,996
Median gross rent in 2012: $1,676.
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About the City of Longboat Key
According to the United States Census Bureau, the town has a total area of 16.0 square miles (41.4 km2), of which 4.1 square miles (10.7 km2) is land and 11.9 square miles (30.7 km2), or 74.19%, is water.
As of the census of 2000, there were 7,603 people, 4,280 households, and 2,846 families residing in the town. The population density was 1,546.4 people per square mile (596.7/km²). There were 8,834 housing units at an average density of 1,796.8 per square mile (693.3/km²). The racial makeup of the town was 99.24% White, 0.07% African American, 0.08% Native American, 0.43% Asian, 0.01% Pacific Islander, 0.01% from other races, and 0.16% from two or more races. Hispanic or Latino of any race were 0.67% of the population.
There were 4,280 households out of which 3.0% had children under the age of 18 living with them, 64.3% were married couples living together, 1.4% had a female householder with no husband present, and 33.5% were non-families. 30.2% of all households were made up of individuals and 21.6% had someone living alone who was 65 years of age or older. The average household size was 1.78 and the average family size was 2.11.