It's never fun to be turned down for a loan, but before you think you won't be able to get credit anywhere, there are some steps you can take. If you are looking for a mortgage loan for real estate in Destin Florida, check your rates now and let our mortgage experts assist you in your quest.
PMI is required by most Destin mortgage lenders when the mortgage amount on a home is more than 80 percent of the value or the purchase price of the home. By bringing PMI into the process, you can now finance a home up to 97 percent of the purchase price. PMI on a conventional loan serves the same purpose as PMI on an FHA loan. It allows someone to buy a home who otherwise would not be able to.
Remember: if you have had credit problems or Destin mortgage loan problems, be prepared to discuss them honestly with a mortgage professional. Responsible Destin Florida mortgage professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties.