Navigating Ohio’s Hard Money Loan Market: What You Need to Know
Navigating Ohio’s Hard Money Loan Market: What You Need to Know Ohio’s real estate market continues to attract investors and property developers due to its
#1 FHA Lender Deerfield Beach
APPLY NOW!
Qualify for a 3.5% down FHA Home Loan in Deerfield Beach Florida. Use this application to pre-qualify and start shopping for your new home in Deerfield Beach today! Purchase, Refinance, Cash Out Refinance.
I would like to discuss my loan options
I would like to apply for my loan myself
I am shopping for a home and would like to pre-qualify for my price range.
FHA Loan Q&A Everything You Wanted To Know about FHA Loan
A Bankruptcy does not automatically disqualify a borrower from receiving an FHA loan. If your bankrupcy was discharged 2 years ago you may be eligible today for an FHA loan program. If you bankruptcy was discharged less than two years ago and you have extenuating circumstances you might still be eligible to qualify. You can find out more by applying here!. Same rule applies for borrower with chapter 13 bankruptcy.
A chapter 13 has some different requirements as a chapter 13 bankruptcy may still qualify if the lender is willing to do a manual underwriting and the borrower has a satisfactory history of payments under their Ch 13 pla.
Bankruptcy does not automatically disqualify a borrower from receiving an FHA loan Florida. If your bankrupcy was discharged 2 years ago you may be eligible today for an FHA loan program. If you bankruptcy was discharged less than two years ago and you have extenuating circumstances you might still be eligible to qualify. You can find out more by applying here!. Same rule applies for borrower with chapter 13 bankruptcy.
A chapter 13 has some different requirements as a chapter 13 bankruptcy may still qualify if the lender is willing to do a manual underwriting and the borrower has a satisfactory history of payments under their Ch 13 plan.
Charge-off accounts are not included in borrowers’ debt.
For non-medical collection accounts when the cumulative outstanding balance is greater than $2,000 borrower may either pay-off the balance or, for the purpose of debt-to-income ratio (DTI), provide proof of a payment plan. If neither are an option, the lender must use 5% of the outstanding balance and include it in the borrower’s DTI calculation.
Delinquent child support must be paid current or in a payment plan.
Borrowers with delinquent tax debt are ineligible unless currently in payment plan.
Borrowers with delinquent tax debt are ineligible unless currently in repayment plan. Repayment plan tax liens are not required to be paid in full if documentation is provided indicating the borrower is in a valid payment plan.
The following is required:
Foreclosure waiting period is measured from the date of title transfer. Three (3) years must have elapsed from the time title transferred. If the foreclosed loan was an FHA loan, the 3-year waiting period is based on the date the FHA claim was paid (e.g. foreclosure 11/12/14, FHA claim dates was 7/12/15, the 3-year waiting period ends 7/13/18).
Borrowers with foreclosure/Deed in Lieu within 3 years of case number assignment that was due to documented extenuating circumstances may be eligible if the borrower has re-established good credit since the foreclosure. A downgrade to manual underwriting is required. If the foreclosure was included in the bankruptcy, the foreclosure waiting period still applies. HUD treats the foreclosure and Bankruptcy independently, not as a single event.
The three-year waiting period from date of title transfer still applies unless they were current at the time on short sale. Speak to your loan officer for specifics.
The Maximum debt-to-income (DTI) ratio varies based on overall credit history and assets. Typically, the DTI cannot exceed 45% of the borrower’s gross income. However, in some cases borrowers with as high as 54.9% DTI may be eligible and in other cases borrowers may be capped at 43% DTI. Due to our volume size we can allow for higher DTI which enables you to receive a higher loan amount even if you have significant debt.
Borrowers with student loans that are in deferment or not fully amortized will be required to calculate 1% of the outstanding balance as minimum monthly payment that will be added in their debt-to-income ratio (DTI) calculation.
The Maximum debt-to-income (DTI) ratio varies based on overall credit history and assets. Typically, the DTI cannot exceed 45% of the borrower’s gross income. However, in some cases borrowers with as high as 54.9% DTI may be eligible and in other cases borrowers may be capped at 43% DTI. Due to our volume size we can allow for higher DTI which enables you to receive a higher loan amount even if you have significant debt.
WHY FHA HOME LOAN DEERFIELD BEACH FLORIDA?
About Deerfield Beach Florida– Deerfield Beach is a city in Broward County, Florida, United States, just south of the Palm Beach County line. The city is named for the numerous deer that once roamed the area. As of the 2020 census, the population was 86,859.
Deerfield Beach FL Housing Market Insights- Homes for sale in Deerfield Beach, FL have a median listing home price of $222,300. There are 592 active homes for sale in Deerfield Beach, FL, which spend an average of 56 days on the market. Some of the hottest neighborhoods near Deerfield Beach, FL are West Deerfield Beach, Crystal Lake, Boca del Mar, Lakeview, Deer Creek.
You may also be interested in single family homes and condo/townhomes for sale in popular zip codes like 33441, 33442, or three bedroom homes for sale in neighboring cities, such as Boca Raton, Pompano Beach, Fort Lauderdale, West Palm Beach, Delray Beach.
Why to Live in Deerfield Beach, FL? – If you are interested in living in Deerfield Beach, I highly recommend. Their beach is absolutely beautiful with restaurants and hotels with an ocean view nearby. Majority of the people are kind and friendly. It is also a calm environment but things can become expensive. Not just Deerfield Beach, we are serving all of FHA Loan Florida markets.
Things To Do In Deerfield Beach Florida
Navigating Ohio’s Hard Money Loan Market: What You Need to Know Ohio’s real estate market continues to attract investors and property developers due to its
Home If you’re considering homeownership in the beautiful state of Florida, understanding the FHA (Federal Housing Administration) loan requirements is crucial to navigating the mortgage
The Definitive Guide: A Comprehensive Manual to Sustainable Living As the world grapples with the challenges of climate change and environmental degradation, more and more
Home Ohio’s Hard Money Loans Demystified: Essential Facts Every Investor Should Know When it comes to real estate investing, one of the key factors that
The Rising Trend of Fix and Flip Loans: Texas Investors Reap the Rewards The Fix and Flip Market in Texas Over the past decade, Texas
Ohio Real Estate Market Experiences Major Shift: A New Era of Opportunity The Ohio real estate market has long been known for its stability and