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Did You Know That the FHA Offers These Types of Loans in Florida?

Happy Friday! I’ve been enjoying Boston this week, but this mild temperature wants me to get back to Florida ASAP! The good thing is that I’ve been eating really well in Boston and enjoyed checking out Arya Trattoria.

This restaurant is genuinely old-world Italian with a twist of modern sophistication. Chef/Owner Massimo was a bread boy at the late Scalinatella Restaurant and has taken his restaurant to another level.

They’ve been rated as having Boston’s best meatballs and have been featured in numerous publications throughout the years.

I got a bunch of different meals, and I will highlight my favorite ones. I had the Rigatoni alla Amatriciana, prepared with house-made pancetta, caramelized onion, and San Marzano tomato. This was a fantastic dish, and it hit all the right spots!

Next up, I went with one of my all-time favorites, the Chicken Parmigiana. I have had a lot of chicken parm entrees in my life, and I can confidently say that this ranks in my top 5 of all time. The chicken was perfectly cooked, and the cheese and pasta put this one over the top.

I enjoyed this meal a lot. Lastly, I went with the Bistecca Delmonico, also known as the “World Champ Ribeye,” which was 16 ounces of pure meat! It was cooked to perfection, and I was delighted with all the dishes offered by this restaurant.

Arya Trattoria is a great place for date night and an excellent place for a family meal. You can tell when a lot of love is put into a meal, and this place does it every time. I would rate them an 8.7 on the FoodiePhil scale, and I will be coming back!

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Send me your recommendations!

In this weeks newsletter we are focusing on the different types of FHA loans. FHA loans are designed to help low to moderate-income families attain homeownership, but many people do not realize that there are more than just the regular FHA 30 year term and refinance. We are going to take a deep dive into other FHA loan options!

  1. 203(k) Rehab Mortgage
  2. Energy Efficient Mortgage
  3. Rate/Term Refinance

1. 203(k) Rehab Mortgage

With this loan, you'll need to complete repairs within six months. Also, you'll need a qualified professional to execute the repairs. Choose between the standard and limited loans, depending on your renovation needs. Standard rehab loans usually give you more freedom to repair the property. This loan option will serve you well if your home requires major structural repairs that exceed $35,000. You can use the standard 203(k) rehab mortgage to complete diverse repair projects, including: 

  • Redoing groundwork and landscaping
  • Overhauling your plumbing and waste systems
  • Installing new floors and roofs
  • Bathroom and kitchen remodeling
  • Installing heat and air-conditioning systems


2. Energy Efficient Mortgage

This loan option usually encourages energy efficiency among home buyers. You can use the money to either cover new energy improvement costs or buy an energy-efficient home. This mortgage also helps you finance cost-effective, energy-saving measures. Before the FHA approves this loan, you'll need a home energy rate to perform a home energy assessment. From this assessment, your lender will estimate the monthly energy savings and the value you'll get from the energy efficiency measures. Typical energy-efficient improvements include:

  • Assorted heating and cooling systems
  • Installing home insulation
  • Making select roofing improvements
  • Installing furnaces and heat pumps
  • Water heater installations
  • Duct system repairs and installations

Ultimately, these improvements will lower your energy bills and reduce your annual expenses. Also, you'll be in the perfect position to minimize your overall energy consumption. The FHA encourages this loan option as it ensures that your household activities have less impact on the environment. 


3. Rate/Term Refinance

Rate refinances help you trade your existing mortgage for one with a different interest rate and lower monthly payments. The FHA rate/term refinance option has less stringent credit requirements. Leverage this loan option when lowering your rate or changing existing terms. With this refinance, you can significantly shorten your loan term and save on interest.  Mortgage interest rates change frequently. Refinancing makes sense if rates are better now than when you took the loan. Also, this refinances lets you switch your loan from an adjustable-rate mortgage to a fixed-rate one when rates go down.


The FHA offers more than just your standard home mortgage, they have mortgages that can help anyone in any type of situation, whether it's a rehabilitation loan, energy-efficient upgrades, or the rate/term refinance which has less stringent requirements. If you're looking into an FHA loan, there will be something for you!

Interested in learning about becoming a resident in Florida or moving there? Read more.


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There are many factors to consider when getting into the home-buying process. It’s best to evaluate all options and to really make sure that now is the right time to buy a home. If you’re only focused on the purchase price and interest rate, you’re simply not ready to buy and need to evaluate more to make sure you are not wasting your own time. If you plan on expanding your family, do consider getting a home larger than you originally thought as it will pay dividends in the long run!

Got a question? Contact me today to chat with a financial advisor or discuss your next steps. 

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