FHA Loan in Florida
Buying a home in Florida can be very easy if you know where and how to get the finances. One popular source of funds is the FHA (Federal Housing Administration) mortgage program. Thanks to our easy application process, you can now get started right here. Our experts will guide you through the whole process and increase your chances of getting approved.
One of the things that the FHA will look at is your credit history. Generally, you need a credit score of 620 for your application to be approved. But if you apply through a good mortgage company like Moreira Mortgage Team that can be lowered to 580. Our experts know exactly what lenders require, which gives us an upper hand when negotiating with our customers. Even if your co-borrower doesn’t have a credit score, we can still help you get an FHA mortgage loan.
In case you have a history of bankruptcy that does not necessarily mean that you can’t get the FHA loan. We can still push your application through. It will be even easier for you if two years have passed since you were discharged from chapter 7 or chapter 13 bankruptcy.
FHA lending limits in Florida vary by county and the type of house. But generally, the base limit is pegged at $275,665 for a single unit in most counties, including Alachua, Bay, Bradford, Columbia, Dixie, Gadsden, Suwannee, Taylor, Wakulla, Washington and 36 others. You can get a lot more if you live in high-cost counties. For instance, Baker, Clay, Duval, Nassau and St. Johns counties have a limit of $330,050, which is slightly lower than the $316,250 that Martin and St. Lucie County residents can get. Okaloosa and Walton have it at $341,550 while Broward, Miami-Dade and Palm Beach counties have a $345,000 limit. Beyond that, there is Collier County with a $450,800 limit and Monroe County with $529,000. Pick your county and tell us your preferred house type and we will give you the most suitable FHA loan in Florida.