Glades County

Florida Glades County real estate mortgage loan information and rates
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Glades County

Florida - Glades County Mortgage Loans

If you are looking for a large loan amount to purchase or refinance your home, you could consider a jumbo loan , which has a higher loan amount limit than the limits set by Fannie Mae and Freddie Mac for Glades County Florida. Because jumbo home mortgage loans cannot be funded by these two agencies, they usually carry a higher interest rate.

Glades County Mortgage Loan pre approval

The Glades preapproval process is much more complete than pre-qualification in Florida. For pre-qualification, the mortgage loan officer asks you a few questions and provides you with a pre-qual letter. Pre approval includes all the steps of a full approval, except for the appraisal and title search. Pre approval can put you in a better negotiating position when purchasing Glades real estate, much like a cash buyer.

Glades County Mortgages Information

There are several different loan programs for Glades County Florida which allow you to buy a home without proving your income. Some programs require only 5 percent down for those with strong credit scores. Most non income verifying (NIV) Glades mortgage loans require 20 percent down payment due to the fact that the bank is taking on a higher degree of risk by not knowing how much you earn. All NIV Florida loans have higher interest rates due to the risk involved, but some can be secured with only a marginal rate increase.

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