Regardless of the amount of the down
payment, Lehigh 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 Lehigh 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.
A title policy in Lehigh 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 Lehigh you
will be living in?
Fannie Mae Backed Securities and Ginnie Mar Backed Securities affect Lehigh mortgage rates. Fannie Mae pools large quantities of mortgages, creates securities with them, and sells them as Fannie Mae Backed Securities. The rates on these securities influence Lehigh mortgage loan rates strongly. Ginnie Mae pools large quantities of mortgage loans, securitizes them and sells them as Ginnie Mae Backed Securities, which influence mortgage rates on FHA and VA loans. Check your Lehigh mortgage rate for personal real estate today.