Chris Luis, My Favorite Mortgage Broker 
"I work for you, not the banks." 
NMLS 888571

CLuisMortgages. LLC             
MBR 1575, NMLS 1159714                                       
t: 941-219-4381
f: 800.718.1862
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Minimum Credit Score - 500 for 10% down  - 580 for 3.5% down. 
Select Homebuyers $0 Down with 640 Credit Score

  • FHA stands for Federal Housing Administration – a department of the US Government’s Housing and Urban Development. 

  • The FHA does NOT issue you the mortgage. The FHA only insures the mortgage in case a homebuyer defaults. 

  • Ideal for loans between $100,000 and $275,000. In certain urban areas, it can be as much as $345,000.​

  • Traditionally this is the loan for First Time Homebuyers as it allows for lower credit scores and to purchase a bit more than regular, or conventional loans. 

  • Mortgage insurance is required for loans and amount to @88 cents for every $100 you borrow. 

  • Most lenders offer FHA loans. 

  • Qualifications vary significantly with traditional banks requiring a 620 minimum credit score, and often silently requiring 680 or above. 

  • Seller’s credits up to 6% on the purchase price are allowed. Typically a home purchase requires 3% in closing costs, but more expensive homeowner’s insurance, real estate taxes or flood coverage 

  • FHA Loans are lately are cheaper than conventional loans with slightly lower interest rates.  

  • Gifts from family members up to the entire down payment are allowed. 

  • Lenders offer closing cost assistance up to 3% of the purchase price depending on your credit score and loan size.

COUNTIES SERVED: Alachua, Baker, Bay, Bradford, Brevard, Broward, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Escambia, Fairfax, Flagler, Franklin, Gadsen, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Indian River, Jackson, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Martin, Miami Dade, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Santa Rosa, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwanee, Taylor, Union, Volusia, Wakulla, Walton, Washington