Make a Brilliant Move!

Wednesday, January 26, 2011


The usage of FHA loans has been varied over its past 77 year history; as our economy and real estate market has changed so has the demand for an FHA loan.  Just a few years ago, in my practice here in Orlando, an FHA loan was a rare occurrence.  Now they are more than just commonplace.  Here are just three of the advantages of an FHA loan:
·         You can buy with less money down.  The minimum down payment amount is currently 3.5%. 
·         Credit scores requirements are fairly lenient. A credit score of 580 and above will get you the coveted 3.5% down loan. A score of 500 to 579 will currently get you in at 10% down.  For those of you with credit scores below 500, you will want to take that seriously and build your score up.  
·         The loan limits are relatively high.  In Orange and Seminole Counties, the maximum loan limit is currently $353,750.  If you consider the average price of a home SOLD in Orange County, $151,376 in December 2010, you can appreciate the value. 
Bear in mind, the Federal Housing Authority is not the actual entity that is lending you the money. They are insuring the loan that you are purchasing.    
Dawn Deegan is a Broker-Associate with Charles Rutenberg Realty. She holds the designations of Accredited Buyer Representative (ABR®) and she is a Graduate of the Realtor® Institute (GRI). She also holds the Transnational Referral Certification (TRC), enabling her to help in real estate endeavors, world-wide. Dawn is dedicated to providing only the best possible services and expertise to her Buyers and Sellers of residential Real Estate in the Greater Orlando area. This includes Windermere, Orlando, Winter Park, Baldwin Park, and Davenport. Her emphasis is on quality, value and a stress-free transaction for the Buyer and Seller. 
Contact Dawn Deegan at 407 488 8074 or at  You can also visit her at

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