Marco Island FHA Mortgage

Marco Island FHA MortgageThe Core Mortgage Team specializes in Marco Island FHA Mortgages. We are considered experts in the area of FHA Mortgages in Marco Island, Florida. Core’s  staff are dedicated to helping our borrowers obtain Marco Island FHA loans through our massive product source. Their licensed mortgage bankers are dedicated to helping customers obtain home loans and mortgages at the most competitive rates.

The Core Mortgage Team has Marco Island FHA Mortgage specialists that service the Marco Island, Florida area. We take great pride in provide FHA mortgages to all Marco Island borrowers. We have many different Marco Island FHA mortgage programs and will best suit your financial needs.

Contact us today using our online form to inquire about a Marco Island FHA Mortgage.

You can also call our office on (239) 431-5889 or (855) 554-CORE.

Marco Island FHA mortgages have upfront mortgage insurance premium fees and annual mortgage insurance premiums. Marco Island FHA mortgages currently require 3.5% down payment with a maximum loan up to $453,100 without going into Jumbo loan limits. There is an upfront financed mortgage insurance premium of 1.75% of the loan amount if you are putting less than 5% down payment. The annual mortgage insurance premium is .85% which is normally paid into your monthly payment as a MI payment.

Homebuyers should always take a look FHA loan program VS conventional financing. Marco Island FHA mortgage can be easier to qualify than traditional mortgages due to the lower credit score requirement, easier debt vs. income standards and less cash out of pocket for a down payment. First time homebuyers traditionally explore Marco Island FHA financing and in most cases complete Marco Island FHA mortgage financing as their best option.Marco Island FHA Home Loans

Our goal is to satisfy 100% of your borrowers during your Marco Island FHA loan experience.

The Core Mortgage Team has many different loan programs to fit your current financial situation. Our goal is to continue the success we have proven to past clients and investors.

Our Motto is “Exceeding your Expectations”, on every Marco Island FHA mortgage loan completed! Please contact one of our licensed loan originators today and discuss Marco Island FHA Mortgages!

If you are seeking to purchase a home in Marco Island, Florida, we have Marco Island loan mortgage specialists standing by to take your call 24 hours 7 days a week.

Please do not hesitate to call us NOW at (855) 554-CORE or (239) 431-5889

Want to refinance your Marco Island FHA mortgage? Call us today as we have the BEST rates in town!

Apply for a Marco Island FHA mortgage or call (855) 554-CORE. Alternatively, since our main office is here in SWFL you can come in to see us.

The Core Mortgage Team
1217 Piper Blvd Suite #103
Phone: (239) 431-5889

Contact us today using our online form to inquire about a Marco Island FHA Mortgage.

Marco Island FHA MortgagesHelpful Terms Defined:

Mortgage:
Collectively, the security instrument, the note, the title evidence, and all other documents and papers that evidence the debt. A Mortgage is a loan secured by a lien on real estate held in fee simple or on an acceptable leasehold estate. A loan made for the purpose of purchasing, building or rehabilitating real property, and secured by that property. A pledge of real property as collateral for payment of debt. The term is also used to describe both the mortgage (security instrument) and the promissory note evidencing the debt, which includes the terms of the debt’s repayment.

FHA Mortgage:
An FHA insured mortgage loan is a Federal Housing Administration mortgage insurance backed mortgage loan which are provided by FHA-approved lenders. FHA insured mortgage loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower’s behalf.

Depending on the loan-to-value (LTV) ratio, there may be a monthly premium as well. The program originated during the Great Depression of the 1930s, when the rates of foreclosures and defaults rose sharply, and the program was intended to provide lenders with sufficient insurance. Some FHA programs were subsidized by the government, but the goal was to make it self-supporting, based on insurance premiums paid by borrowers. Over time, private mortgage insurance (PMI) companies came into play, and now FHA primarily serves people who cannot afford a conventional down payment or otherwise do not qualify for PMI.

Note: 
The evidence of indebtedness for a mortgage loan. A note is the instrument evidencing the indebtedness secured by a security instrument that sets forth the amount the owner owes the lender and the manner in which the debt is to be satisfied. The note establishes the payment terms, conditions under which prepayments may be made, and the lenders rights in the event of default. A written agreement between the mortgagor and the mortgagee specifying the amount and terms of repayment for a loan.

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