West Palm Beach and Boca Raton FHA Loans

If you are planning to relocate to West Palm Beach or Boca Raton, right now is the perfect time to apply for an FHA loan. The Federal Housing Administration (FHA) was created by the US Government in 1934 as a way to help families hit hard by the Great Depression. Since that time, millions of Americans have taken advantage of all the benefits the FHA has to offer and made the dream of homeownership a reality. Today these benefits are greater than ever before.

Conventional Loans vs. FHA Loans

When you apply for conventional loans in West Palm Beach and Boca Raton, you can expect to pay anywhere from five to twenty percent for a down payment on a new property. This can add up very fast, especially for new families who don’t have the necessary capital saved up. With an FHA loan on the other hand, you only have to provide 3.5% for a down payment. Plus, this money can come from any source. Now, even if you can’t afford the money for the down payment, you will still be able to become a proud new homeowner.

Additional Benefits

In addition to the low down payment on your new home, you’ll also find the interest rates much lower than you would with a conventional loan. Plus, there’s no need to pay for private mortgage insurance (PMI) because you will already be insured by the Federal Government. The other great benefits of Florida FHA loans include simple refinancing, fast and easy approval and flexible repayment schemes.

Finding a Lender

In order to obtain an FHA loan in Florida, you will need to find a bank, savings and loans association or mortgage company that participates in the FHA home loan program. Once you have your lender, you will need to provide credit checks and income information, have the house appraised and pay any closing fees. Be sure to take your time researching lenders as they will be the ones to help guide you through the entire loan process.

Get Started Today!

When you fill out our online form we’ll be able to have you pre-approved for an FHA loan in minutes. The form is free, secure and has no obligation. Getting pre-approved has never been easier!

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