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FTC Disclosure



Florida's Premier FHA Mortgage Lender - Since 1989





Florida Mortgage Corporation finances FHA loans in every city and county in Florida. We are approved by HUD to originate FHA loans. Call a Florida Mortgage Corporation FHA loan specialist with any questions. We are a HUD approved lender and FHA experts.  Call or email today.

Low Down Payment of 3 1/2% only   (96.5% Financing)

Up to 85% Cash-Out Refinance

Manufactured Homes   (Doublewide - With Land)

FHA Co-Signer is acceptable

Credit Score Minimum580  (Case-By-Case only)   (620 Standard)

FHA Streamline Refinance   (No appraisal required)

FHA 203-K  Rehab Program

NO Maximum Income Limits

Gift Funds:   Allowed for the entire 3 1/2% down payment  (family member, employer, gov't agency)

Gift Funds:  Closing Costs &  Prepaids  (family member, employer, gov't agency)

6% Seller Contributions  (closing costs)

NO Cash Reserves Required

Non-Occupant "Co-Borrower"  (income used to qualify)

3 Non Traditional Tradelines for credit history  (utilities, phone, etc.)

Gap in Employment OK

Self Employed 1-2 Yrs OK

Permanent Resident Alien OK

Judgements must be paid or have 12 months of arranged payment history

fha loans  ::  fha  ::  fha home loans  ::  fha mortgage rates  ::  fha mortgages NO pre-payment penalty

Fully assumable mortgage

FHA Secure


HUD guarantees "eligible" loan applicants the ability to obtain mortgages with little or no money down. FHA loans can be fully assumable. Loan limits apply depending upon where the property is located in Florida.

FHA loans feature low down payments and flexible guidelines to make it easier to qualify! FHA loans are popular with first time home buyers but they can be equally attractive to move-up buyers and homeowners looking for a home improvement loan. With an FHA loan you can borrow up to 96.5% of the purchase price of the home. Please keep in mind that the loan will be based on the purchase price or the appraised value, whatever is the lesser amount.

FHA stands for the Federal Housing Administration. FHA was created in 1934 to help Americans realize the dream of Homeownership. FHA was absorbed into HUD in the 1960s and is now known as HUD-FHA.    

The advantages of a HUD-FHA insured mortgage product to a homebuyer are many fold. A homebuyer may apply for a HUD-FHA insured mortgage and purchase a home with little or no out of pocket expense! FHA mortgage insurance permits lenders to make mortgages for first time homebuyers without risk. 

There are no income limits with an HUD-FHA insured mortgage, so most anyone can qualify as long as they have a reasonable acceptable credit history and can afford the monthly mortgage payments.

You can also combine FHA mortgage programs with many first time homebuyer grants or down payment assistance programs offered by other agencies. Plus insightful tips and program comparison to choose and better manage your FHA mortgage

The main advantage to a FHA home loan is that the credit criteria for a borrower are not as strict as FNMA or FHLMC. Someone who may have had a few minor credit problems should not have a problem obtaining FHA financing. Also, FHA home loans are assumable, allowing a person to take over the mortgage without the additional cost of obtaining a new loan. In addition, the seller pay for part of the "traditional" closing costs (called non-allowable costs) while a borrower's allowable costs can partially be wrapped into the loan. 100% of the down payment and closing costs can be family gift funds. FHA loans are not just for first time buyers and are available to everyone looking to home refinance or purchase a home. We are here to help you know more about FHA refinancing

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FHA Streamline Refinancing

FHA has permitted streamline refinances on insured mortgages since the early 1980's. The streamline refers only to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction. The basic requirements of a streamline refinance are:

The mortgage to be refinanced must already be FHA insured

The mortgage to be refinanced should be current (not delinquent).

The refinance is to result in a lowering of the borrower's monthly principal and interest payments.

No cash may be taken out on mortgages refinanced using the streamline refinance process.

Florida Mortgage Corporation can offer "no cost" refinances (actually, no out-of-pocket expenses to the borrower) by charging a higher rate of interest on the new loan than if the borrower financed or paid the closing costs in cash.

Florida Mortgage Corporation offers FHA streamline refinances that include the closing costs into the new mortgage amount. This can only be done if there is sufficient equity in the property, as determined by an appraisal. Streamline refinances can also be done without appraisals, but the new loan amount cannot exceed what is currently owed, i.e., closing costs may not be added to the new mortgage with those costs either be paid in cash or through the premium rate as described above.

Mortgage Insurance Premium (MIP)   (Tax Deductible)

Mortgage insurance is "tax deductible". In order to cover some of the costs incurred by HUD for FHA loans, HUD must assess the upfront and monthly mortgage insurance to the home buyer. This upfront fee may ranges from 2.0% to 2.25% (depending upon the term of the loan) and the borrower will have to pay 0.5% annually in mortgage insurance premiums. However, if you are buying a condominium, you do not have to pay the upfront mortgage insurance premium.


Minimum Credit Score:

580  (Case-By-Case) only

Minimum FHA Loan Amount:


Maximum FHA Loan Amount For Florida Single Family Residences

$729,750   (Loan Limits)

Maximum Loan to Value (purchases and no cash out refinances)


98.75% for FHA loans less than $50,000

Maximum Loan to Value  (cash out refinance)


Call or email today!






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