Florida-Mortgage-Lenders.com is a leading Banana Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Banana Florida people become homeowners since 1934. Banana Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Banana Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
BANANA FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Banana 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.
BANANA FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Banana Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Banana 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.
• Banana 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.
BANANA 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 Banana 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 Banana Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Banana Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Banana Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN BANANA FLORIDA
BANANA FLORIDA FHA APPROVED CITY DATA
Banana is an unincorporated community in Putnam County, Florida, located one mile (1.6 km) south of Melrose on State Road 21.
BANANA FLORIDA FHA CITY DATA:
Median household income in 2011:
Banana Hammock Estates: $21,688
Vero Beach: $40,950
Median rent in 2011:
Banana Hammock Estates: $495
Vero Beach: $663
Zip codes: 32960.
This neighborhood: 76.8 years
Whole city: 45.6 years
This neighborhood: 82.7 years
Whole city: 49.9 years
Average household size:
Banana Hammock Estates: 1.9 people
Vero Beach: 2.2 people
Percentage of family households:
Banana Hammock Estates: 18.8%
Vero Beach: 33.5%
About the City of Banana
In 1855, Dr. George Washington Alexander McRae bought the grist mill. The grist mill site is located were the Old Orange Springs, Starke Highway crossed Etoniah Creek. Dr. McRae was the Postmaster at Banana, owned a mercantile store, plantation and was the area doctor. He was partial owner of the Etoniah Canal and Drainage Company.
Fremont and Zee Tolles donated the remains of the Banana, FL settlement along Etoniah Creek to the Historic Melrose Association. Plans are underway to establish access to the old mill and a picnic area.
Historically, the Banana River was a continuous waterway that completely separated Merritt Island from Cape Canaveral (which was considered part of the mainland until the construction of the Haulover Canal). In 1964, the Crawlerway was built at Kennedy Space Center, connecting Merritt Island to Cape Canaveral and dividing the Banana River into northern and southern lagoons.