Florida-Mortgage-Lenders.com is a leading Bay Point, Monroe County Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Bay Point, Monroe County Florida people become homeowners since 1934. Bay Point, Monroe County Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Bay Point, Monroe County Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
BAY POINT, MONROE COUNTY FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Bay Point, Monroe County 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.
BAY POINT, MONROE COUNTY FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Bay Point, Monroe County Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Bay Point, Monroe County 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.
• Bay Point, Monroe County 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.
BAY POINT, MONROE COUNTY 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 Bay Point, Monroe County 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 Bay Point, Monroe County Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Bay Point, Monroe County Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Bay Point, Monroe County Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN BAY POINT, MONROE COUNTY FLORIDA
BAY POINT, MONROE COUNTY FLORIDA FHA APPROVED CITY DATA
BAY POINT, MONROE COUNTY FLORIDA:
Bay Point is an unincorporated community in Monroe County, Florida, United States. It is located in the lower Florida Keys in the Saddlebunch Keys near mile marker 15 on US 1 (theOverseas Highway).
BAY POINT, MONROE COUNTY FLORIDA FHA CITY DATA:
County population in 2012: 74,809 (91% urban, 9% rural); it was 79,589 in 2000
County owner-occupied with a mortgage or a loan houses and condos in 2010: 9,759
County owner-occupied free and clear houses and condos in 2010: 8,742
County owner-occupied houses and condos in 2000: 21,900
Renter-occupied apartments: 14,128 (it was 13,186 in 2000)
% of renters here: 38%
Land area: 997 sq. mi.
Water area: 2740.2 sq. mi.
Population density: 74 people per square mile
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About the City of Bay Point, Monroe County
Bay Point Monroe County was created in 1823. It was named for James Monroe, the fifth President of the United States, who served from 1817 to 1825.
According to the U.S. Census Bureau, the county has a total area of 3,738 square miles (9,680 km2), of which 983 square miles (2,550 km2) is land and 2,754 square miles (7,130 km2) (73.7%) is water.
In 2000 there were 35,086 households out of which 20.80% had children under the age of 18 living with them, 46.80% were married couples living together, 7.30% had a female householder with no husband present, and 41.90% were non-families. 28.80% of all households were made up of individuals and 8.20% had someone living alone who was 65 years of age or older. The average household size was 2.23 and the average family size was 2.73.