Florida-Mortgage-Lenders.com is a leading Bimini Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Bimini Florida people become homeowners since 1934. Bimini Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Bimini Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
BIMINI FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Bimini 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.
BIMINI FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Bimini Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Bimini 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.
• Bimini 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.
BIMINI 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 Bimini 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 Bimini Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Bimini Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Bimini Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN BIMINI FLORIDA
BIMINI FLORIDA FHA APPROVED CITY DATA
Bimini is the westernmost district of the Bahamas composed of a chain of islands located about 53 miles (81 km) due east of Miami. Bimini is the closest point in the Bahamas to the mainland United States and approximately 137 miles (209 km) west-northwest of Nassau. The population is 2,008 as of the 2010 census.
BIMINI FLORIDA FHA CITY DATA:
Median rent in 2011:
Bimini Bay: $1,269
Apollo Beach: $1,070
Zip codes: 33572.
This neighborhood: 44.8 years
Whole city: 38.3 years
This neighborhood: 49.3 years
Whole city: 43.7 years
Average household size:
Bimini Bay: 3.0 people
About the City of Bimini
Bimini is home to several landmarks said to contain mystical properties of obscure origins. Much of the historical data about these places is speculative in nature, and experts in various fields have opined across the full spectrum of explanation. The most contentious of these sites is The Bimini Road.
Bimini has three islands, North Bimini, South Bimini, and East Bimini. The largest islands are North Bimini and South Bimini. The District of Bimini also includes Cay Sal Bank, more than 62 miles (100 km) further south, which is geographically not a part of the Bimini Islands but a separate unit. North Bimini is about seven miles (11 km) long and 700 feet (210 m) wide.
Its main settlement is Alice Town, a collection of shops, restaurants, and bars on a road known as “The King’s Highway”. The second major road is called Queens Highway and runs almost the length of the island parallel to Kings Highway.