Found 2 blog entries tagged as home loan.

If the thought of purchasing a second home sounds tempting, indeed it is! Owning a second home in a favorite vacation spot such as St. Augustine may not only serve as a great getaway, but also as a solid investment.

You’ll need to do your homework, and crunch the numbers, before making the jump into a second home.

Some things to consider when purchasing a vacation home (aside from the price) are:

  • Down payments and interest rates. Even though interest rates are rock bottom as of late, it is important to realize that most mortgage companies will charge you a higher interest rate for a second home. In addition, you may need to fork out a higher down payment on a second home, as well.

    The bottom line: find a good…

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 In comparing loans for your new Jacksonville home, keep the following in mind.  Closing costs are split into two main categories: the closing costs controlled by the lender which vary from place to place and closing costs not controlled by the lender that will not be negotiated. 

 

The Process

 

You will first obtain a "Good Faith Estimate" of closing costs when talking to a mortgage lender.  It is your right to receive a copy although they may send it to you within three business days of your application.

 

Remember, the mortgage lender is not the only one charging all of your final closing costs, nor do they know what all the costs will actually be. They will normally give you a higher end estimate based on an educated guess from…

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