Interest rates are so low right now that it’s enticing buyers in droves to buy homes. Why not when you can own a home for less money than it costs to rent? It’s really a great deal! Also, if you currently are a homeowner you might be persuaded to refinance your home to get a lower rate saving you potentially pockets full of cash every month. Also, you could switch from a 30-year to a 15-year mortgage and lower your rate at the same time cutting your time to repay the loan literally in half. Now truly is an excellent time to take advantage of the lending market!
This is where you have to be careful though: it’s easy to get caught up in all the advertising that’s going on in our market place. It’s not always what it seems. Some mortgage companies just want to get you in the door and tell you what you want to hear, hooking you in and then as time passes, the story changes. Sometimes market conditions can change which will directly affect you. Other times there are actual factors that could be thoroughly researched about your credit or your overall financial picture that if done ahead of time could save you a lot of frustration.
I’ve had it happen to me. I’d been told that if I were to use a certain bank for my loan that they would do ‘x’ for me. But a couple weeks down the road – and after investing a lot of time – they said actually we can’t do ‘x’ anymore. And at that point, do I now want to go and find a new bank to have them tell me the same thing and waste more time? That, unfortunately, you hear of happening a lot. It has taken me several years to really find a mortgage broker that I trust and has performed time after time.
When you are buying a home, you want it to go smoothly – but that doesn’t always happen. Having a mortgage broker who is willing to fight to get the deal done and closed is who you want on your side. If you need a good mortgage broker recommendation, please call me and I’ll be glad to pass one on.
Gabe Mellein was voted a Top Real Estate Agent – Exceptional in Service and Overall Satisfaction by Gulfshore Life Magazine in 2012 and 2013. He is the broker of Gulf Pointe Properties, Inc and has over 9 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate. Need real estate help? Please contact Gabe at: 239.825.2234, Gabe@GulfPointeProperties.com or www.GulfPointeProperties.com