Florida-Mortgage-Lenders.com is a leading Svea Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Svea Florida people become homeowners since 1934. Svea Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Svea Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
SVEA FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Svea 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.
SVEA FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Svea Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Svea 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.
• Svea 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.
SVEA 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 Svea 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 Svea Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Svea Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Svea Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN SVEA FLORIDA
SVEA FLORIDA FHA APPROVED CITY DATA
Svea is an unincorporated community in Okaloosa County, Florida. It is between Laurel Hill and the Harrison Curve Community on the Okaloosa County line. Most of the community exists straddling State Highway 85.
About the City of Svea
The original settlers were Swedes and Norwegians. At the turn of the 20th century, a real estate promoter lured immigrants to Florida from Chicago. The first homesteaders arrived at Svea in the late 19th century. They platted out the town and recorded their dream community in what was then Walton (now Okaloosa) County.
The platting was controversial because the Norwegians had a name in the hat also, but there were more Swedes than Norwegians, so they won out. Mrs. Ouida Grimes recalled stories told by her in-laws. Svea means “extraordinarily beautiful” – the town grew slowly – three stores, a post office and a small cotton gin and saw mill and railroad depot provided work for a few people.
A school was built in 1937 and the town had two churches, Svea Baptist and Svea Assembly of God. But, by the time the churches were built, most of the Swedes and Norwegians had left. Today, there is no sign of the train depot, the stores are gone and a small cemetery remains as do several small houses.