Mortgage Blog

What a Naples FHA Home Loan Can Do for You

Naples, located in southwest Florida, brings to mind visions of beautiful beaches, palm trees, relaxation, and peace. It is an area that seems perfect for individuals or families looking to take the big step of buying a new home. Many people, who are interested in taking this next step, unfortunately are unaware of the opportunities allotted to them through a Naples FHA mortgage.

Naples FHA mortgage is specifically designed for people who have not previously owned a home. It was created to encourage home ownership. It is for people who have employment, but might lack the funds needed to create a large down payment for a home. With an FHA loan individuals can qualify with a down payment just 3.5% of the total cost! Those who lack even these funds might be able to secure the amount for friends or family willing to lend a hand.


Keep in mind, a Naples FHA mortgage requires people to show proof of steady employment. Depending on the lender, they may require between six months and two years. Students, however, who were studying towards their field may be able to count their time studies as employment.

Naples FHA mortgage will be perfect for people who may have struggled with credit in the past. They will accept credit histories lower than the average loan, sometimes as low as a score of 580. Even people who many have a higher income but no savings can qualify because there are no income limits. Those who come into the mortgage broker with minor debt or perhaps found a dream home that is slightly out of their typical price range may also be in luck. A Naples FHA mortgage loan allows for a greater debt to income ratio than most loans, up to 57%! If in the future those with Naples FHA home loanswould like to refinance, they can possibly do so without getting an appraisal.

Naples, Florida is a gorgeous city with year round beautiful weather. It is an ideal area for local families to make an investment in their future or for out of town people to come and make a home. Those who were unsure of their options when it came to securing bank loans because of past credit history or lack of savings should be happy to learn that they have a wonderful option with a Naples FHA mortgage.



This blog is for informational purposes only. Rates, Programs, Guidelines are subject to change without notice. NMLS #1743702


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