Sarasota & Bradenton Loan Checklist

For many Sarasota & Manatee County home buyers, applying for the mortgage loan is one of the more stressful aspects of buying a home. The loan application need not be a stressful time. By following a few easy steps, you'll sail through the home financing application process.

  1. Make a list of any questions you have about the loan program.
    Be sure to understand the pros and cons of the various mortgage programs for which you may qualify, including the advantages and disadvantages of Fixed Rate Mortgages(FRM) versus Adjustable Rate Mortgages (ARM).

  2. Decide if you want to lock-in or float the mortgage interest rate.
    Locking-in the rate means that the lender commits to the mortgage interest rate for the loan - typically at the time the loan application is submitted. By floating the rate, you can lock-in the interest rate anytime between the loan application day and closing. Buyers opt to "float the loan" when they believe interest rates will drop after their loan application date and prior to closing. The risk is that rather than dropping, interest rates may rise, increasing the mortgage payment.

  3. Decide if you want to pay additional pts to lower your interest rate.
    Typically you can elect to pay additional points (each point is 1 percent of the mortgage loan payable in cash at closing) to lower the interest rate of your mortgage loan.

  4. Gather your paperwork.
    Click here to view a list of typical loan documentation.

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The GRI designation is earned after completion of a rigorous 92 hour educational program. It is recognized nationwide as the standard for advanced professionalism and knowledge of real estate.   The Accredited Buyer Representation designation is the benchmark of excellence for buyer representation. This coveted designation is awarded to real estate practitioners by the Real Estate Buyer's Agent Council to those who meet the specified educational and practical experience criteria.

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Sarasota Florida Real Estate // Sarasota - Bradenton Homes for Sale // Sarasota, FL Home Values // Buy a Home in Sarasota - Bradenton // Selling a Home in Sarasota - Bradenton // 9 Steps to Owning a Home in Sarasota - Bradenton // Search the Sarasota MLS // Home Buyer Checklist // How Much House can You Afford? // Writing an Offer on a House // Loan Programs // Find a Home Loan // Mortgage Shopping  // Locking in Rates   // Down Payment // Closing Costs  //  Selling Sarasota - Bradenton Real Estate //  Selling and Buying Your Sarasota Home // Determining Your Selling Price // Staging Your Home to Sell  // Valuable Home Improvements // Sarasota Florida Home Price Index // Sarasota Properties // Manatee County Schools // Palmetto Florida Real Estate // Ellenton Florida Real Estate //  Longboat Key Real Estate // Real Estate Glossary

 


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