Florida-Mortgage-Lenders.com is a leading Margate Florida FHA Mortgage Company. All situations welcome.
What is an Florida FHA Mortgage? FHA mortgages have been helping Margate Florida people become homeowners since 1934. Margate Florida FHA mortgage loans are backed by the FHA which is short for the Federal Housing Administration. FHA insures the FHA mortgage loan so Margate Florida mortgage lenders can offer easier loan qualifying and lower down payment FHA mortgage options.
MARGATE FLORIDA FHA MORTGAGE LOANS HAVE MINIMAL DOWNPAYMENT AND CLOSING FEES:
• Margate 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.
MARGATE FLORIDA FHA MORTGAGE LOANS ARE EASY TO QUALIFY FOR BECAUSE YOU CAN:
• Purchase a Margate Florida home 12 months after a chapter 13 Bankruptcy
• Purchase a Margate 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.
• Margate 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.
MARGATE 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 Margate 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 Margate Florida homebuyers obtained Mortgage Loans with 0% down payment and reduced loan documentation requirements. After the crash, as Fannie Mae and other Margate Florida mortgage lenders retreated from these riskier loan products, FHA stepped in Margate Florida FHA Home Loans became the only option for borrowers with a lowdown payment and less than perfect credit.
HOMES FOR SALE IN MARGATE FLORIDA
MARGATE FLORIDA FHA APPROVED CITY DATA
Margate is a city in Broward County, Florida, United States. As of the 2010 census, the city had a population of 53,284. It is part of the Miami–Fort Lauderdale–Pompano Beach Metropolitan Statistical Area, which is home to 5,564,635 people.
MARGATE FLORIDA FHA CITY DATA:
Males: 26,156 (47.2%)
Females: 29,300 (52.8%)
Median resident age: 42.3 years
Florida median age: 40.3 years
Zip codes: 33068.
Estimated median household income in 2012: $42,037 (it was $38,722 in 2000)
Estimated per capita income in 2012: $22,233 (it was $20,308 in 2000)
Estimated median house or condo value in 2012: $108,191 (it was $82,300 in 2000)
Mean prices in 2012: All housing units: $146,318; Detached houses: $199,154; Townhouses or other attached units: $127,424; In 2-unit structures: $97,026; In 3-to-4-unit structures: $116,769; In 5-or-more-unit structures: $76,291; Mobile homes: $43,703
Median gross rent in 2012: $1,184.
About the City of Margate
According to the United States Census Bureau, the city has a total area of 8.98 square miles (23 km2), of which 8.81 square miles (23 km2) is land and 0.17 square miles (0 km2) is water (1.89%).
As of 2010, there were 24,863 households, with 13.6% being vacant. In 2000, there were 22,714 households out of which 25.8% had children under the age of 18 living with them, 49.1% were married couples living together, 10.2% had a female householder with no husband present, and 36.9% were non-families. 30.8% of all households were made up of individuals and 18.0% had someone living alone who was 65 years of age or older. The average household size was 2.36 and the average family size was 2.95.
In 2000, the city the population was spread out with 20.9% under the age of 18, 6.5% from 18 to 24, 29.2% from 25 to 44, 21.7% from 45 to 64, and 21.7% who were 65 years of age or older. The median age was 40 years. For every 100 females there were 89.5 males. For every 100 females age 18 and over, there were 85.6 males.