Owning a home in America is a lot harder than it should be. With the banks turning down people and not offering enough for loans, people are turning to lenders across the country. At Kloze, we offer a variety of loans that can help anybody who walks through the door. All of our rates including our FHA loan rates in Fort Lauderdale, FL are reasonable and should work for all of our clients.

All of our clients are unique and therefore we have went through all of the ins and outs of the marketplace so we are able to offer all there is to offer so everyone has a chance at owning a home. As much as you want to own a home is as much as we want to help you achieve that goal.

jumbo home loans in Fort Lauderdale

FHA Home Loan in Fort Lauderdale, FL

The Federal Housing Administration since 1934 has been opening figurative and real doors for many Americans with their loan program. With our company in Fort Lauderdale, we offer residents opportunities not available through traditional outlets.

We offer people a FHA home loan in Fort Lauderdale, FL because everything we do is geared towards making it possible for clients to own a home and have financial stability. Whether you are a first time homebuyer or not, our team of customer service representatives and mortgage specialists are dedicated to guide clients through the entire mortgage process including application for and servicing of an FHA loan.

At NHL we offer more than FHA loans so clients have the opportunity to get what is right for them and their needs. We will offer our clients as much information as possible in the clearest terms we can manage. The more information we provide, we are convinced and understand why we provide the best mortgage lending services in the business.

All of this is mainly due to the dedicated and knowledgeable mortgage team. It is also due to the wide range of products that we offer. The FHA loans are only one product in our portfolio that we offer and it includes fixed-rate and adjustable-rate conventional mortgage loans, Veterans Affairs loans, reverse mortgages, and other specialty products.

To give you confidence that your lender has a full understanding of the lending marketplace, we use a full scope of our lending. This gives our clients highly competitive pricing and multiple mortgage solutions.

FHA loans are private mortgage loans that are insured by the federal government. Because of the federal insurance, lenders are able to offer financing to low- and moderate-income Americans who may not otherwise have qualified for a mortgage loan because it removes the risk from the lender. If there is a default on the loan, the government pays the lender.

The biggest hurdle which is accessing finances can be jumped with FHA loans. It can also help you with other aspects of your mortgage as well. Because most homes ask for a 20% down payment, this could mean thousands or ten thousands of dollars out of your pocket. For many people looking to buy a home, this is impossible to do. It may also expose a borrower to considerable risk by tying up all of their savings in a home. With FHA loans, you are only required to pay a 3.5 percent down payment, drastically reducing your upfront costs as a borrower.

Upfront costs are further mitigated with a reduction in closing costs. FHA loans help reduce closing costs in two ways. The first way is to let the seller, builder or lender pay for the closing costs. This arrangement may benefit those parties by helping facilitate the sale of a home. The FHA loan can also allow the borrower to fold closing costs into the mortgage amount, thereby spreading the cost burden over the length of your mortgage. With either of these options, it saves the buyer from spending thousands of dollars out of pocket.

FHA Loan Requirements Fort Lauderdale

When applying for a FHA loan, there are FHA loan requirements Fort Lauderdale asks of borrowers. When applying for a FHA loan, the borrower must demonstrate a steady employment history with the same employer for at least the last two years. They must also meet minimum credit score requirements, which is 580, in order to be eligible for maximum financing. Your monthly mortgage payment can also not exceed 31 percent of your gross income, and the home you plan to purchase must be as a primary residence and not to be flipped into a rental property.

Learning everything about your FHA loan may seem complicate and overwhelming but we can assure you the benefits are endless. We will help you every step of the way to make sure you understand all of the details.