FHA is a great program that is designed to help people with "young credit" or people who have less money to put down to get in to a home. There have been some terrific changes in FHA guidelines this year that have really helped out the housing market, such as they has increased the loan amount and reduced some of the restrictions.

FHA is also a great way for parent to purchase a condo or home for their childwho are heading off to college. Everyone knows that homes and condos make great investments over time and being able to purchase one with little down is a big help. It is also a great way to help you son/daughter establish credit while they are in school. Plus, in most cases if you add them to the title you can homestead the property. Please see below for a list of the approved FHA condos in Gainesville, Florida

Looking for more information? Check out: www.FHA.com or http://www.hud.gov/offics/hsg/fhahistory.cfm

FHA approved CONDOS for Gainesville
Bellamy Forge
Casablanca East and West
Cedarwood
Charleston Place
Countryside at the University
Creekside Villas
Isabella Park Condo
Mill Pond
Palmetto Villas
Rockwood Villas
Somerset Village
Southfork Oaks
Southwood
Sparrow
University Terrace West
University Terrace Condo
Woodshire Villas Condo
Woodside Villas condo

Facts About FHA Loans

Qualifying for an FHA Loan

• To obtain an FHA loan, you must have a credit background that shows you meet your obligations.

• ou must have enough income to pay your monthly debt.

• You must have enough cash to make the down payment at closing.

• You must be able to pay the closingcosts, which normally total 2-3% of the price of the home. These costs migt include homeowner's insurance, attorney's fees, fees for a title search and title insurance, Private Mortgage Insurance if you are paying less than 20% down, the loan origination fee, and a fee that goes into the FHA inurance fund.

• You might also be paying 'points,' to the lender. Each point equals 1% of the cost of the home. Sometimes a seller will agree to pay your points, and sometimes points can be financed.

Need a lender who knows about FHA? Call anyone of these local professionals!

Wells Fargo
Bryan Royal Home Mortgage Consultant
Office: (352) 692-4262
Fax: (866) 359-6876
Mobile: (352) 672-1596
Email: bryan.w.royal@wellsfargo.com

First Horizon Home Loans 
Kristen Hawkins Home Mortgage Consultant
Office: (352) 371-6102
Fax: (352)381-3565
Email: Krhawkins@firsthorizon.com

Alarion Bank
Becky Bessinger Home Mortgage Consultant
Office: (352) 240-2694
Mobile: (352) 494-3556
Email: bessinger@alarionbank.com">becky.bessinger@alarionbank.com