Buy a home or condo in Vero Beach or Sebastian Florida using a FHA Loan

30 Year Fixed Rate with Only 3.5% Down 

 

FHA loans have been helping people become homeowners since 1934. Its a great way to buy a home or condo in Vero Beach or Sebastian Florida with limited funds for a down payment.
The Federal Housing Administration (FHA)  insures the loan, so you can get: 
A Good Interest Rate
3.5% down payment
Lower closing costs
Easy credit qualifying

The FHA program  provides 30 year fixed rate home mortgage loans.  The 3.5% down payment, which  is required, can be a gift from a family member.   

The FHA allows buyers with credit scores lower than banks will allow to purchase a home. Generally the buyer must have credit scores over 580 and have stable income of enough to make the payments.  The home payments with taxes and insurance can represent up to 31% of your monthly income, and the total of all of your monthly home, auto and credit card debt can not exceed 46% of your income.

The interest is Fixed for 30 years and can not change. Interest rates are low now, therefore it is a good time to lock into a good rate. 

FHA loans are also assumable by qualifed buyers, therefore some day when you want to sell your home, the new buyer can assume your loan if they qualify. 

FHA allows loans up to a $292,500 purchase price ($282,262.50 loan amount) if you earn enough to qualify.   Please call me so we can discuss your particular circumstances, and I will be happy to explain the program and how you can take advantage of today's low home prices.   Since home prices are so low today, it is a great time to get a bargain.   Please let me help you negotiate the price to purchase at the lowest possible level in today's market.