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Fernandina Florida

FHA Fernandina Florida Mortgage Loans

Regardless of the amount of the down payment, Fernandina FHA requires a one time upfront fee of 2.25% of the real estate mortgage loan amount which, may be financed in with the loan. In addition to the upfront fee there is a yearly fee of 50% of the unpaid balance of the Fernandina real estate mortgage loan which is divided into 12 equal payments and paid monthly in the house payment. If the mortgage is paid in full within the first 7 years there may be a prorated refund of the upfront premium paid. The monthly mortgage insurance premium in Florida may not be waived regardless of the loan to, value.

Fernandina Florida Real Estate Buying Tips

A title policy in Fernandina Florida is required to obtain financing from a mortgage loan lender but it only covers the amount of the loan. An Owners Title Policy protects your equity. It usually is a small cost and well worth the price. Know what the surrounding area will be in a few years. Will there be an Airport, nuclear plant, shopping mall in the area of Fernandina you will be living in?

Fernandina Florida Mortgages Information

Remember to always; review the documents carefully. Make sure the loan rate and terms are what you were promised and that your name and address are accurate. If in doubt about anything, ask questions! Know what you are signing before you do so. Start your Fernandian mortgage search today.

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