Florida-Mortgage-Lenders.com is a leading Rainbow Lakes Estates Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Rainbow Lakes Estates Florida people become homeowners since 1934. Rainbow Lakes Estates Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Rainbow Lakes Estates Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
RAINBOW LAKES ESTATES FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Rainbow Lakes Estates FL Down payment only 3.5% of the purchase price.
• Gifts from family or Grants for down payment assistance and closing costs OK!
• Seller can credit buyers up to 6% of sales price towards buyer’s costs.
• No reserves or future payments in account required.
• FHA regulated closing costs.
RAINBOW LAKES ESTATES FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Rainbow Lakes Estates Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Rainbow Lakes Estates Florida 24 months after a chapter 7 Bankruptcy.
• FHA will allow a FHA mortgage 3 years after a Foreclosure.
• Minimum FICO credit score of 580 required for 96.5% financing.
• Rainbow Lakes Estates Bad credit Florida FHA mortgage approvals minimum FICO credit score of 530 required for 90 FHA financing.
• No Credit Score Florida mortgage loans & No Trade Line Florida FHA home loans.
RAINBOW LAKES ESTATES FLORIDA FHA MORTGAGE LOANS ALLOW HIGHER DEBT TO INCOME & EASIER JOB QUALIFYING:
• FHA allows higher debt ratio’s than any other Florida home loan programs.
• Less than two years on the same job is OK!
• Self-employed buyers can also qualify for FHA.
• Check Florida FHA Mortgage Articles for more information.
During the Rainbow Lakes Estates Florida Housing Boom the FHA Mortgage had become an uncommon mortgage loan product because of the plentiful supply of credit including Subprime, Conventional, and Fannie Mae. Many Rainbow Lakes Estates Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Rainbow Lakes Estates Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Rainbow Lakes Estates Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN RAINBOW LAKES ESTATES FLORIDA
RAINBOW LAKES ESTATES FLORIDA FHA APPROVED CITY DATA
RAINBOW LAKES ESTATES FLORIDA:
Rainbow Lakes Estates is an unincorporated community in Marion County, Florida, United States established as a Municipal Services District. The community is part of the Ocala Metropolitan Statistical Area.
RAINBOW LAKES ESTATES FLORIDA FHA CITY DATA:
Houses and condos: 4,416
Renter-occupied apartments: 520
% of renters here: 15%
Mar. 2012 cost of living index in zip code 34431: 85.7 (less than average, U.S. average is 100)
Land area: 109.3 sq. mi.
Water area: 4.3 sq. mi.
Population density: 71 people per square mile
Real estate property taxes paid for housing units in 2011:
This zip code: 0.8% ($1,220)
Florida: 1.1% ($1,706)
Median real estate property taxes paid for housing units with mortgages in 2011: $1,303 (0.8%)
Median real estate property taxes paid for housing units with no mortgage in 2011: $1,107 (0.9%)
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About the City of Rainbow Lakes Estates
This community is northwest of Rainbow Springs a natural spring located in Rainbow Springs State Park which is nearby. There are various community owned and maintained facilities as well as paved roads. A large percentage of the platted building lots are unimproved.
It is located in the western part of the county, off US 41, several miles north of Dunnellon. Although the community is predominantly in Marion County, a small part of the western section falls into Levy County. Rainbow Lakes Estates is located at 29°08’45?N 82°29’58?W (29.1458, -82.4994).