FHA Loan
Panama City fLorida

FHA Loan Panama City Florida Benefits:



* Only 3.5% Down Payment


* Low interest rates


* Fast Closing – As fast as 17 Days


* If you have not purchased a house in 3yrs or


* Best for first time home buyers Panama City


* FHA Loan from 3.5% Down, HomeReady 3% Down.

HOME LOAN APPLICATION
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FHA Loan Panama City Florida- Florida’s #1 FHA loan lender. We help borrowers in Panama City to qualify for the best FHA home loan program to meet their borrowing requirements. FHA loans starting with just 3.5% down payment. Apply today!

FHA Loan Panama City Florida

CambridgeHomeLoan.com provides FHA loans for purchases, refinancing and cash out refinancing.

FHA Loan Eligibility Requirements:

  • FICO credit mid score of at least 580 for a 3.5% down home loan
  • A credit score of 500 to 579 for a 10% down payment
  • FHA loan with 3.5% down payment requirement
  • Mortgage insurance offsets the lower FHA interest rates than a conventional loan.
  • FHA Debt to income ratio of 50% or less

Qualify for a 3.5% down FHA Home Loan in Panama City Florida. Use this application to pre-qualify and start shopping for your new home in Panama City today! Purchase, Refinance, Cash Out Refinance.

The FHA along with Fannie Mae provide the best loans for first time home buyers Panama City Florida

GET YOUR FREE PREQUALIFICATION LETTER

Benefits of Purchasing A Home With FHA Home Loan in Panama City

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FHA Home Loan Are Easy As 1-2-3

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Pre-Qualify

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

For FHA loans, we know that the waiting period is either two years (Chapter 7) or twelve months (Chapter 13). If you’re planning on taking out a conventional loan, you’ll have a four-year waiting period unless you can show extenuating circumstances. If you’re looking to get a VA loan, you’ll need to wait two years after Chapter 7 or one year after Chapter 13. For a USDA loan, you’ll need to wait three years after Chapter 7 or one year after Chapter 13.

 

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:

  1. The borrower must have made a minimum of 3 months of scheduled payments and documentation of the payments is required.
  2. The payment must be included in the DTI / Debt to income calculation.
  3. The borrower cannot prepay the payments to meet the 3-month payment requirement NOTE: Borrowers with delinquent taxes may or may not have a tax lien. Borrowers currently in a repayment plan, and the IRS has not filed a tax lien, are not required to meet the minimum 3-month payment requirement. The payment to the IRS will be included in the DTI calculation.

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 LOAN PANAMA CITY FLORIDA?

Panama City is a city in and the county seat of Bay County, Florida, United States. Located along U.S. Route 98, it is the largest city between Tallahassee and Pensacola. It is the more populated of two principal cities of the Panama City–Lynn Haven, Florida Metropolitan Statistical Area.

Panama City FL Housing Market Insights- Homes for sale in Panama City, FL have a median listing home price of $275,000. There are 851 active homes for sale in Panama City, FL, which spend an average of 69 days on the market. 

Some of the hottest neighborhoods near Panama City, FL are Bunkers Cove, Holiday Beach, Gulf Lagoon Beach, Bahama Beach, Bay Point. You may also be interested in single family homes and condo/townhomes for sale in popular zip codes like 32408, 32404, or three bedroom homes for sale in neighboring cities, such as Panama City Beach, Seacrest, Watersound, Lynn Haven, Chipley.

For a first time home buyer Panama City Florida, the FHA loan and HomeReady Loan programs provide the best rates and terms for first time home buyers. 

Why to Live in Panama City, FL? – The place is an all year hotspot that offers a variety of different activities for people to partake in such as arts, entertainments, fishing, and sports. In addition to these, Panama City provides people with affordable housing and a friendly environment to raise a family. Not just Panama City, we are serving all of FHA Loan Florida markets.

First Time Home Buyer Panama City Florida

Refinance & Cash Out Refinance Panama City

Cash out refinance

VA Loans Panama City Florida

Non-QM Loans - Statement Only for Self Employed

Panama City, FL – Home Financing

CambridgeHomeLoan.com is your premiere mortgage lender funding an FHA Loan Panama City, Florida. We pride ourselves on some of the lowest rates nationwide and make the loan application and funding process simple, straightforward and fast for borrowers seeking a mortgage in the Florida area. 

Whether you are first time home buyer, purchasing your dream home, refinancing an outstanding loan, or cash out refinancing to debt, our highly experienced team of Mortgage officers and Bankers can help you take that first step toward a fast closing. With over 27 years of lending experience, we know what to do to get you to the closing table. We can close a residential loan in 17 days. one of the fastest turn times in the industry. As Panama City’s #1 Best Mortgage Company we help our borrowers get from application to funding smoothly. 

CambridgeHomeLoan.com is  committed to providing our clients with the highest quality service for your mortgage needs. Combined with the lowest rate and multiple loan programs available in Panama City, FL. Whether you are looking to purchase your dream home, first home, refinancing an existing mortgage loan, or looking for a cash out refinance, our experienced team of loan officers can help you with the best rate and loan program in the market today..

Our ultimate goal is always to create a long term relationship with each of our borrower clients so that we may continue to provide excellent service for you your family and friends for many years to come. 

 

CambridgeHomeLoan.com is a Local Florida
Mortgage Company.

Serving you for 27years!

  • Panama City Mortgage Lender with Low Rates & Fees
  • Streamline Process, Fast Closings & Funding
  • Same Day Instant Pre-Approvals Available
  • 17 Day Closings!
  • Consistent and Clear Communication
 

Panama City Lenders | FHA Loan Panama City Florida, VA & USDA Home Loans, Non QM Self Employed Loans, Investment and Hard Money Lenders for Panama City and no Nationwide!

To speak with an experienced mortgage professional, call 800-826-5077.

For new home purchases in Panama City, we offer same day approvals, typically in less that 2hrs and work to close all loans in 17 days. We can also help with residential home loans and ground up construction loans nationwide. We specialize in FHA home loans, VA home loans, Jumbo loans, Multifamily and business loans. Call today for a free estimate and prequalification letter. 

Things To Do In Panama City Florida

  • Boat Charter tours
  • Jet ski rentals
  • Tennis, Golf
  • Kyack, Beach Activities of all kinds for kids and families.

Panama City Florida – Home Financing

CambridgeHomeLoan.com is your premiere mortgage team located in Panama City, FL. We pride ourselves on offering some of the lowest rates nationwide and make the loan process simple, straightforward and fast for borrowers seeking a mortgage in the Florida area. Whether you are first time home buyer, purchasing your dream home, refinancing an outstanding loan, or consolidating debt, our highly experienced team of Mortgage Loan officers can help you take that first step toward a financial solution. 

With over 27 years of experience, we know what we are doing and can get you to the closing table. We close on time, as promised – we can close as fast as 17 days! As Panama City’s #1 source for FHA Loans we alleviate the typically drawn-out loan process. We have the technology and people to make the process easier than they have ever imagined.

We are committed to providing our clients with the highest quality service for your mortgage needs. Combined with the lowest rate and multiple loan programs available in Panama City, FL. Whether you are purchasing your dream home, first home, refinancing an existing loan, consolidating debt or purchasing your first or 20th investment property, our highly experienced team of loan officers can help you find the right loan program at the lowest rate possible.

Our ultimate goal is to create a lasting relationship with each of our clients that we may continue to provide excellent service for many years to come. 


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FHA Loan Panama City Florida Apply here!