Florida Residential Lending Information
You've decided that you want a new home in Florida, congratulations! This is one of the most beautiful places in the U.S. for either a vacation property or to settle into a very active retirement! With all the media coverage about Florida mortgages, you would think that no one is able to give you one. Not true! Mortgages really did not change much, just that lenders are required to disclose, disclose some more, and then disclose even more!
In order to purchase a SW Florida homes for sale with a Florida mortgage in this day and age, most buyers know that a pre-approval is absolutely necessary. Lenders on foreclosures, and sellers in a short sale situation, require that you submit your mortgage loan approval when you make your offer. Once that became common place for offers, the "regular" sellers, said, "we want that, too!" Being prepared for your offer is absolutely necessary to be considered in the running for the purchase of your new home with the other many buyers seeking a home in our area.
In today's world, educated borrowers know to treat their Florida mortgage as the investment asset it is. That means spending a little more time thinking about your future and what is best for you. It also means getting the best financial advice you can in order to make an informed decision. Every individual's life is different and so are their plans for the future. At Gulf Coast Associates, our Realtors® philosophy is to give you the options and information necessary to help make that informed and educated decision for yourself.
At Gulf Coast Associates, we always recommend that you contact at least two or three direct lenders for your Florida home loan pre-approval. A direct lender is a large enough mortgage banker that they can make a lending decision locally. It's easier if you work with a local lender, even if it's a Wells Fargo or Bank of America retail branch, because they are familiar with the facets of closing costs for Florida mortgaages. Florida generates much of its income from taxes on mortgages to fill its State coffers. So, knowing a local lender can calculate those costs for you is imperative. Part of that disclosure information a lender needs to give you cannot vary by certain percentages in this day and age – so if you use a lender that doesn't regularly lend in Florida you might find that your closing could be delayed while the lender gets the accurate closing figures for this State. We would be happy to provide you names and phone numbers of lenders in the area who are successfully closing mortgages, and closing them on time.
Our Florida Mortgage Information Library
For information on other Florida home loan related topics, please use our Florida Mortgage Information Library. It's full of residential lending information to help you successfully apply for a Florida home loan.
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Page Authored by Benjamin Dona of Gulf Coast Associates, Realtors