FL home buyers are turning to experienced FL mortgage professionals, before jumping into interest rate shopping.  Gone are the days of merely searching for the lender quoting the lowest FL  interest rate for FHA, VA home loan or conventional FL mortgage.  Some home buyers have learned the hard way that a low interest rate is only exciting throughout the mortgage process.  Once they’ve been turned down by the underwriter, weeks later; that  interest rate no longer matters.

It pays to search for a FL mortgage professional team with experience.  With experience comes the ability to provide upfront mortgage insight to home buyers approval ability, prior to application. 

Recently I  had a FL home buyer who spoke to their bank loan officer offering an awesome low fixed rate quote.  They provided all income and asset information along with the formal loan application.  Their mortgage file  then was turned over to a processor who orders, in this case, an FHA case number and a full FHA appraisal and gathers additional required documents to submit to underwriting for a loan commitment.  And days later, they find their FHA mortgage loan was never had a chance for approval.

And what about that low fixed interest rate that grabbed their attention?  No approval - no low  interest rate.  I see it all the time.  The low advertised loan rate opens the door for an application and documentation gathering which wastes everyones time and ends in emotional chaos for the home buyer and their FL Realtor. 

 The most important thing a FL home buyer can do when seeking a new mortgage is to inquire with an experienced FL mortgage professional and review probable approval options.  Inexperience leads to guessing and guessing doesn’t secure your low interest rate that you thought was promised.  Speak to a knowledgeable FL mortgage professional.  And happy house hunting!

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