Florida FHA Loan Alternatives

If you like the sound of a Florida FHA loan but don't want to deal with all the government loan program formalities, regulations and added costs, then Hallmark Mortgage Services has some great alternatives for you. Whether you're a Florida home buyer or homeowner, our FHA loan alternative offers both the flexibility you want and the stability you expect from a conventional mortgage program.

As a leading Florida mortgage company, we recognized the need to have alternative financing solutions to the FHA mortgage and took steps to develop close relationships with several Florida lenders who offer just what you want: An FHA loan alternative that eliminates the hassles and added costs that comes with a government insured loan, yet provides expanded flexibility and options not offered by today's FHA mortgage programs.

We have three special FHA mortgage alternative programs to choose from with powerful options you'll not get from the more traditional government insured FHA home loan program.

• Mortgage financing for 97% and 100% Loan-to-value
• No need for upfront mortgage insurance period (MIP)
• Very little or absolutely no down payment. In many instances, you can forget about the need to scramble to arrange money for your down payment and closing costs
• Unbelievably high debt to income ratios, up to 55%!
• Both fixed rate mortgage programs and 7/1 ARM or 10/1 ARM options - these adjustable rate mortgage programs are not available with any FHA loan program
• Don't have a credit score? That's OK, we can use alternative credit just like the FHA loan programs
• If your income is difficult to verify, this program is ideal for you, since FHA loan programs have very strict income verification processes
• Foreign credit or non traditional credit are OK
• Options for cash on hand or for pooled funds
• Stated secondary income accepted, unlike a FHA loan program

Need to finance part of your closing costs to? We also have a FHA mortgage alternative with up to 105% loan-to-value!

• Mortgage loan amounts up to 105% of your homes value, fully amortized. You would never get that in a FHA loan program. Pay closing costs, financed premiums like new home warranty, prepaid items, etc., and forget about a down payment!
• No need for mortgage insurance.
• Either fixed rate mortgage or 5/1 adjusted rate mortgage.
• Debt to income ratio as high as 50%.
• Mortgage loan sizes of up to $650,000 - That's like getting a jumbo mortgage, which is not possible in a FHA loan program.
• Up to 3% seller contributions are allowed
• Down payment assistance programs are allowed

Call an Hallmark Mortgage Services loan professional today! Dial 1-866-358-2898 or use our quick mortgage application to find out more about the FHA loan alternative programs and how they can save you money!