Florida-Mortgage-Lenders.com is a leading Lauderhill Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Lauderhill Florida people become homeowners since 1934. Lauderhill Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Lauderhill Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
LAUDERHILL FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Lauderhill 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.
LAUDERHILL FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Lauderhill Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Lauderhill 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.
• Lauderhill 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.
LAUDERHILL 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 Lauderhill 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 Lauderhill Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Lauderhill Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Lauderhill Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN LAUDERHILL FLORIDA
LAUDERHILL FLORIDA FHA APPROVED CITY DATA
Lauderhill, officially the City of Lauderhill, is a city in Broward County, Florida. As of the 2010 United States Census, the city’s population was 66,887. It is part of the Miami–Fort Lauderdale–Pompano Beach Metropolitan Statistical Area, which was home to 5,564,635 people at the 2010 census.
LAUDERHILL FLORIDA FHA CITY DATA:
Males: 32,727 (46.9%)
Females: 37,086 (53.1%)
Median resident age: 36.1 years
Florida median age: 41.0 years
Zip codes: 33351.
Estimated median household income in 2012: $34,161 (it was $32,515 in 2000)
Estimated per capita income in 2012: $16,920 (it was $17,243 in 2000)
Estimated median house or condo value in 2012: $90,900 (it was $70,000 in 2000)
Mean prices in 2012: All housing units: $147,849; Detached houses: $201,659; Townhouses or other attached units: $147,705; In 2-unit structures: $67,787; In 3-to-4-unit structures: $74,568; In 5-or-more-unit structures: $84,598
Median gross rent in 2012: $884.
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About the City of Lauderhill
Lauderhill was one of two developments (the other in New York) that began largely as off-the-shelf architectural designs which had been available to the public at Macy’s department store. The homes, which had been designed by Andrew Geller, had originally been on display at the “Typical American House” at the American Exhibition in Moscow. Following a group of approximately 200 of the homes constructed in Montauk, New York in 1963 and 1964, the same developer, Herbert Sadkin of the New York-based All-State Properties reprised his success in New York, building a series of similar homes in Florida, calling the development Lauderhill.
According to the United States Census Bureau, the city has a total area of 8.6 square miles (22.2 km2), of which 8.5 square miles (22.1 km2) is land and 0.04 square miles (0.1 km2) is water (0.37%).
As of 2010, there were 29,519 households, with 15.9% being vacant. As of 2000, 31.8% had children under the age of 18 living with them, 37.4% were married couples living together, 20.1% had a female householder with no husband present, and 37.4% were non-families. 31.0% of all households were made up of individuals and 13.6% had someone living alone who was 65 years of age or older. The average household size was 2.49 and the average family size was 3.12.