
Ohio’s Hard Money Loans Demystified: Essential Facts Every Investor Should Know
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
FHA Loan St. Augustine 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
* FHA Loan from 3.5% Down, HomeReady 3% Down
APPLY NOW!
FHA Loan St. Augustine Florida
CambridgeHomeLoan.com provides FHA loans for purchases, refinancing and cash out refinancing.
Qualify for a 3.5% down FHA Home Loan in St. Augustine Florida. Use this application to pre-qualify and start shopping for your new home in St. Augustine today! Purchase, Refinance, Cash Out Refinance.
The FHA along with Fannie Mae provide the best loans for first time home buyers.
GET YOUR FREE PREQUALIFICATION LETTER
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 ST. AUGUSTINE FLORIDA?
St. Augustine is a city on the northeast coast of Florida. It lays claim to being the oldest city in the U.S., and is known for its Spanish colonial architecture as well as Atlantic Ocean beaches like sandy St. Augustine Beach and tranquil Crescent Beach. Anastasia State Park is a protected wildlife sanctuary. The Castillo de San Marcos is a 17th-century Spanish stone fortress with views of the St. Augustine Inlet.
St. Augustine FL Housing Market Insights- There are 2148 active homes for sale in St. Augustine, FL. You may also be interested in single family homes and condo/townhomes for sale in popular zip codes like 32084, 32092, or three bedroom homes for sale in neighboring cities, such as Jacksonville, Anastasia Island, Palm Coast, Orange Park, Julington Creek.
Why to Live in St. Augustine, FL? – St. Augustine is a suburb of Jacksonville with a population of 14,515. St. Augustine is in St. Johns County and is one of the best places to live in Florida. Living in St. Augustine offers residents a dense suburban feel and most residents own their homes. In St. Augustine there are a lot of restaurants, coffee shops, and parks. Many young professionals and retirees live in St. Augustine and residents tend to lean conservative. The public schools in St. Augustine are highly rated. Not just St. Augustine, we are serving all of FHA Loan Florida markets.
Things To Do In St. Augustine Florida
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
Home Profit Potential Unlocked: Leverage Fix and Flip Loans to Transform Florida Properties Florida has long been a hot spot for real estate investment, with
From Worn-down to Wow: How Fix and Flip Loans are Reviving Properties Across Texas When it comes to real estate, Texas has always been a
Navigating the World of Hard Money Loans: What You Need to Know in Ohio The Basics of Hard Money Loans Before diving into the specifics
Learn more about our investment and commercial financing at CambridgeCapital.org