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Home Loans in St Augustine Florida - By Sharon Stevens, St Augustine's ONLY Exclusive Buyers Agent*
Shopping For a Home Loan in St Augustine Florida - By Sharon Stevens, St Augustine's ONLY Exclusive Buyers Agent*
 Next to shopping for the home in St Augustine itself, shopping for the home loan can be just as cumbersome. For such a large amount of money, you want to make sure you are getting the best deal possible.
Loan Elements
There are four key elements of your home mortgage payment: the principle, interest, taxes, and insurance. The principle is the amount of money that your are borrowing, less any down payment made. The interest is the cost of borrowing, expressed as a percentage of the total amount that you borrow. The money for your property taxes are put into an escrow account until it is time to pay them. Home insurance is required by most lenders. If your down payment was less than 20 percent, you will also be responsible for paying private mortgage insurance.
Types of Loans
There are several different kinds of home mortgages from which you can choose. The major factor to use in the decision of which home mortgage to borrow is the length of time that you plan to be in your home. For example, ... more

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