Florida Mortgage : Learning Center

Everyday Florida mortgage loan shoppers end up searching for one thing; the lowest interest rate. That is fine; but please know there is much more to consider when searching for a trusted Mortgage Professional.

The first and most important consideration is listening for upfront disclosed information. You should be asked how long you expect to own or reside in your home. Information about how the mortgage company or bank gets paid and how much. You will be informed about things such as mortgage program choices, prepayment penalties, and why these programs were recommended.

Next, you want to speak to an experienced Mortgage Professional who will not only provide an upfront Florida Good Faith Estimate; but who will not confuse comparisons by charging origination fees or discount points. Start with companies that offer no discount points or originations fees. You can always choose to buy-down the rate later and consider paying these fees – at your discretion.

Last.  You want to know and compare the years of experience Mortgage Professionalsor their companies have with respect to conventional Fannie Mae or Freddie Mac mortgages. Or test their knowledge with current FHA or VA home loan questions.

Last week I was informed one of clients found us on the Internet while shopping for their VA Jumbo fixed rate home loan. This client spoke to several mortgage loan officers and was told he couldn’t borrow more than $417,000 with his VA Entitlement. They just didn’t have the experience.

Remember, shopping for rates are important. But speaking with the right Florida Mortgage Professional can save you thousands of dollars in costs and wasted time.

Trackback URI | Comments RSS