What is an FHA loan?

The Federal Housing Agency (FHA) is a part of the Department of Housing and Urban Development (HUD), and an FHA loan is simply a mortgage loan that is issued by an FHA lender and is insured by FHA. Mortgage Banking Associates is an approved FHA lender. FHA loans are known for:

  • Lower interest rates than conventional loans
  • Fixed rates
  • Lower down payments
  • Lower mortgage insurance
  • Easier qualification standards
  • Easier refinancing

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Start making your American dream come true with FHA Home Loans and Mortgages

Mortgage Banking Associates can help you with low purchase prices, or low refinancing rates. We can help you live the American dream, simply, smartly, and affordably with an FHA Home Loan.

Whether you've found a home, want to invest in a second home, or have an interest in rental properties, the experts at Mortgage Banking Associates are waiting to help you with FHA home loans, known as “Federal Housing Administration loans,” and mortgages. Take control of your life whether you need the money for cash flow, pay for college, or consolidate debt— experience the freedom. Call us for free advice. We will search hundreds of the best loan programs to find a match for you, just as we have done for clients in Ocala, St. Petersburg, Bradenton, and all across the state of Florida. We have it all, and are happy to serve you.

On May 20th, 2009, President Obama urged homeowners to refinance, and signed the Helping Families Save Their Home Act:

"The Helping Families Save Their Homes Act advances the goals of our existing housing plan by providing assistance to responsible homeowners and preventing and avoiding foreclosures…This bill removes those hurdles, getting folks into sustainable and affordable mortgages and, more importantly, keeping them in their homes. And it expands the reach of our existing housing plans for homeowners..."
~President Barack Obama

Where do these FHA benefits come from?

With an FHA insured home loan, the FHA insures the lender against the loss of the principle in case the borrower fails to meet the terms of the mortgage. That benefits you the borrower. The qualifying standards and terms of the FHA loan are different and, at Mortgage Banking Associates, our experts are always happy to give you a free consultation.

Is an FHA loan right for you?

  • Are you a first-time home buyer? You might be eligible for an $8000 home credit.
  • Are you trying to get out of an adjustable home rate? You might be able to refinance for a lower, 30-year fixed rate.
  • Are you trying to keep monthly rates down? You might be able to keep your mortgage insurance as low as half of a percent, much lower than conventional loan mortgage insurance. The savings are significant. With an FHA loan, your credit history can be lower than the requirements that conventional loans might call for. For more information, discuss your credit history, rates, and pre-approvals with Mortgage Banking Associates.

Even More Benefits

At this time, we are seeing some of the lowest rates on the market. We are getting some of the lowest fixed rates and when you compare to many sub-prime rate mortgages that are still out there, how can you lose? These adjustable rates are hurting many home owners, as the adjustable rates can suddenly jump, sending monthly payments higher without warning. There are no pre-payment penalties with an FHA loan compared to prepayment penalties with an ARM loan. If you compare to a conventional loan which requires better credit and a better down payment, let Mortgage Banking Associates compare and show you how to get an FHA loan. Let us show you the options. Don't take a chance with an out-of-state lender when you can have someone serving you right here in Florida – serving Ocala, St. Petersburg, Bradenton, and beyond!

Call us today at 1-800-605-1899 or Email Us and let Mortgage Banking Associates show you how to close with confidence!