5 Little Known Mortgage Facts – New Florida Mortgage

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10 Mortgage Facts You Should Know By Veronica Nguyen Apr 20, 2015 Mortgage 17,985 . Image courtesy of Flickr, Daniel Zedda These 10 mortgage facts will give you an advantage when shopping for a home or refinancing an existing loan.

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You will pay 1.5 to 2.5% in upfront costs and the equivalent of .50 to .55% of the loan amount every month. 4. Low Down Payments. The down payments with FHA mortgages are lower than you can get from most other loans. If you go out into the private mortgage market, you will usually have to come up with 5 to 10% of the loan balance out of pocket.

First-time homebuyers applying for a federally-backed mortgage may put down as little as 3.5 percent down. Legacy Park Mortgage has a wide variety of loan programs available with various down payment requirements, and can advise you on which loan program is best suited for you based on your specific financial circumstances.

In this video you can find seven little known facts about Florida. Keep watching and subscribe, as more states will follow! You can now support this channel via Patreon, by accessing the link bellow.