Mortgage Glossary
Total Loan Amount
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
The total loan amount is the base loan plus any financed fees, such as upfront mortgage insurance or a VA funding fee, rolled into the balance.
What Total Loan Amount means
Some programs let borrowers finance certain upfront charges instead of paying cash. The total loan amount reflects that larger balance, which is what interest accrues on. It can exceed the home's purchase price when fees are added in.
Florida example
An FHA buyer in Lakeland borrowing $250,000 financed the 1.75% upfront mortgage insurance premium of $4,375, making the total loan amount $254,375.
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