As we bid adieu to Ida and approach the Thanksgiving season, we realize hurricane season has almost ended for us FL homeowners.  Homeowner insurance companies fared well with respect to hurricane damage claims.  In fact, FL home buyers actually closed on their new home purchases without insurance incident. 

Remember back in 2004 when we were visited by the likes of Hurricanes Charley, Frances, Ivan and then Jeanne?  Every time a new home buyer was ready to close on their new home; banks required re-inspections.  And once those re-inspections were completed; we needed more because of the next storm.  What a year in FL mortgage closing mayhem.

It is always best to shop for your homeowners insurance as soon as you have contracted on your new FL home – especially during hurricane season.  Remember, once a tropical storm warning or watch is in effect, it is practically impossible to close on a FL mortgage.  One of the best websites to follow during the hurricane season is https://www.citizensfla.com/stormseason/index.cfm.  There you can find current storm restrictions that may affect your FL mortgage closing. 

Only 20 more days left and we are technically out of the hurricane storm season.  Then we have 7 months before the 2010 season starts.  We recommend reviewing your homeowners insurance policy and contacting your local professional insurance agent.  Your insurance agent may be able to improve your overall coverage and perhaps even reduce the monthly payment.

We have all seen them.  Advertised FL mortgage fixed interest rates that seem too low or too good to be true.  Whether you are looking at FL FHA mortgage rates, FL VA home loan rates or conventional loan rates; some rate seem much lower than any others.  Some are printed in the local newspaper and can be easily compared to other local lender rates.  Others are advertised on the television with promotions like; this sale ends on November 30; or fixed rates under 4.5% (currently?).  Thousands of mortgage lenders or banks advertise their mortgage rates everyday on the Internet.  And some of those rates are awesome – or are they?

The truth about advertising interest rates for home buyers to compare is; not everyone is advertising within the same parameters.  Many newspaper ads come with a fine printed disclaimer which states the interest rates advertised may include a discount point of 1% or an origination fee of 1%.  Television ads are the same – the devil is in the details – or very fine print.  If you have a large screen and can pause the ad; try reading the disclaimer about their interest rate.  One very well known company claims that the rate displayed includes 2 discount points!  Wow – that’s expensive.  And the Internet marketers for mortgage rates always have a small link located somewhere on their interest rate page.  That link will provide details like additional discount points, additional lender fees, and more.  The rate all of a sudden doesn’t look that attractive.

Yes – in today’s FL mortgage markets you must either read the fine newspaper print; purchase a larger television so you can see the details; or spend hours online searching for the truth about that low fixed mortgage rate.  Or – you can call an experienced and trusted Mortgage Professional; who will provide an upfront Good Faith Estimate detailing everything for fair comparison.  Remember, if it’s too low, look for the truth or pick up the phone, inquire and ask for an upfront Good Faith Estimate.  If you have any FL mortgage question related to interest rates please email or call 321-987-9876.