Easy Florida FHA Mortgage Loans – The Secret Urgency

By Chris Brown – Florida’s #1 FHA Mortgage Broker

There is a lot of speculation regarding whether the best Florida interest rates and Florida house prices are going to be around twelve to eighteen months from now. It is no secret that many of the recent steps taken by our government are highly inflationary… but at the end of the day, what does that mean for someone sitting on the fence about buying Florida real estate?

??? The question that is less apparent yet equally important is whether the current qualification guidelines are going to be reflective of what they are now in that same twelve to eighteen month window. I can’t emphasize that enough. ???

Experience shows as defaults increase so do the underwriting guidelines for lending new money. You would likely do the same thing if you put yourself in the shoes of the lender, would you not? FHA mortgage guidelines are no different… they will constrict – but no one knows quit how much before it is all said and done.

So, while low Florida interest rates may be available a year from now and Florida real estate may still be reasonable, qualifying for a loan to buy that real estate may be harder. If you are on the fence, be sure to talk to a trusted mortgage resource – a Certified Mortgage Planning Specialist [CMPS] is a good place to start.

We have already seen many lenders apply strict guidelines on credit scores even though officially FHA home loans do not have credit score requirement. As wholesale banks continue to apply their own ‘overlays’ on the guidelines, it is important to know that you must me the stricter of the two in order to qualify.

GET ADVICE NOW! Even if you are not ready to engage in the buying process – it is not too early to get advice. For unconditional yet sound mortgage advice, contact me to see where you fall in the current environment and if you are benefited by acting sooner rather than later. If you prefer a quick phone call, I completely understand – feel free to reach me directly: 407 377 0500 x 210.