Mirabella residences near DisneyÂ are now FHA approved – and they’re one of only a few condo conversion developments in the Orlando to have accomplished this. So what exactly does that mean?
Here are a few notes from the FHA’s FAQ page:
FHA-insured loans offer many benefits and a level of security that you won’t find in other loans including:
- Low cost: FHA-insured loans have competitive interest rates because the federal government insures the loans for lenders.
- Smaller downpayment: FHA-insured loans have a low 3% downpayment and the money can come from a family member, employer or charitable organization as a gift.
- Easier qualification: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify.
- Less than perfect credit: You don’t have to have perfect credit to get an FHA-insured mortgage. In fact, even if you have had credit problems, such as a bankruptcy, it’s easier for you to qualify for an FHA-insured loan than a conventional loan.
- More protection to keep your home: The FHA has been helping people since 1934. Should you encounter hard times after buying your home, the FHA has many options to keep you in your home and avoid foreclosure.
- FHA insures loans for lenders against defaults – it does not lend money or set interest rates. For the best interest rate and terms on a mortgage, you should compare mortgages from several different lenders. An FHA-approved lender can help you start the loan application process.
- You may use an FHA-insured mortgage to purchase or refinance a new or existing 1- to 4-unit home, a condominium or a manufactured or mobile home (provided it is on a permanent foundation).
So there you go.
Mirabella condos offer a superior location, perfectly situated between Lake Buena Vista and Kissimmee. It’s aÂ safe community just a few miles from Osceola Pkwy, I-4 and the 417.Â It’sÂ also just minutes from some of the region’s key attractions and resorts (in fact, I believe Mirabella is the closest condo project to the Disney gates.)
Mirabella Pricing: One bedrooms starting from $120’s, two bedrooms from $160’s and three bedrooms from low $200’s.