In today’s ever tighter mortgage guideline environment, many home buyers are are learning that yesterday’s adage or question “What’s your interest rate?” has been replaced with “Can you close my loan?”  Rate is out and getting the job done is in.

FL mortgage underwriting of credit histories and scores; income evaluations or calculations; and appraisals have made buying a home less fun for many.  The truth is that FL home buyers should make sure they work with experienced FL mortgage professionals.  It no longer matters who has the lowest interest rate for a FL fixed rate VA, or FHA mortgage,  or even a conventional Fannie Mae loan.  A fixed rate of 3.5% sounds like a great FL 30 year fixed rate mortgage.  But if the lender or  bank cannot close the loan; the interest rate doesn’t matter.

I am not saying to toss rate shopping out the window.  Of course a competitive interest rate is important when buying your new FL home.  Always compare a quoted fixed interest rate against the costs for that rate.  With today’s new good faith estimate, this can be done easily.  Compare the lender or banks fees; now called the origination fee, and the interest rate quoted against other estimates.  But if you want to ensure that you are going to close; work with a seasoned, experienced, knowledgeable FL mortgage professional.  I would take a real interest rate with reasonable costs and an experienced mortgage professional; over a slightly lower interest rate and never get to closing; anytime.

Ask your licensed FL Realtor how long they have been working with their local mortgage professional.  And then do some research.  Ask for referrals, ask about length of time as a FL loan originator.  By talking to several loan officers, you can actually hear the difference between the newbies, the crooks (most of them are gone now – hopefully) and the true Fl mortgage professional.  Got a question about your next home buyer or know someone searching for true mortgage answers?  Have them contact me or call anytime at 407-733-6425.

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