Mortgage shopping tips that can save you thousands – Sunny Spot Realty, Inc

The Cost of Your Mortgage Loan

Money Isn't Everything

When considering lenders, factor in the level of service they will provide throughout the loan process. I'll be glad to provide a list of lenders who have successfully helped clients in the past. I also suggest that you ask friends and family in the area for their recommendations.

The same care and consideration you give to finding the right house should be applied to your search for the right mortgage lender. For most home-buyers a major determining factor in selecting a lender is the cost of the mortgage loan. But how do you determine the cost of a mortgage loan?

Shopping for a Mortgage Loan

While most buyers concentrate on interest rates, it is best to look at all the costs associated with a mortgage loan. Mortgage loans include the quoted interest rate, points and closing costs.

More than Just Interest

A number of fees are associated with the mortgage loan, including:

Appraisal - A carefully documented opinion of value by a licensed, professional appraiser.
Credit Report - A detailed report of your credit, employment and residence history prepared by a credit bureau.
Principal - The amount owed on a mortgage which does not include interest or other fees.
Document Fees, Loan Fees and Processing Fees - Miscellaneous fees charged by the lender.
Discount Points - Points paid in addition to the loan origination fee to get a lower interest rate. (1 point = 1 percent of loan amount)
Origination Points - the total number of points paid by the borrower at closing. (1 point = 1 percent of loan amount)
Interest Rate - A percentage of a loan or mortgage value that is paid to the lender as compensation for loaning funds.

Prepayment Penalty Mortgages (PPMs)

These loans restrict your right to prepay part or all of the principal in the loans early years. A prepayment fee is charged by the lender to the borrower who wishes to pay part or all of the loan ahead of the regular schedule. The advantage of a PPM is that they often have a lower interest rate than other mortgages.

Using the Annual Percentage Rate (APR) to Compare Mortgage Loans

The APR was designed to help borrowers understand the relative costs of a mortgage loan. The APR takes into account the various fees associated with the loan, which is why it is often higher than the interest rate. Understand that not all lenders calculate a loan's APR in the same way. That is why this should be only one of the factors used in selecting the best mortgage for you.

Locking-in Interest Rates

Another factor to consider when selecting a lender is whether the lender will lock-in the mortgage's interest rate and points. Click here to learn more about lock-in options.

I can recommend an experienced lender that I trust to do the best job for my clients.

Buyer Information Request form. First & Last name.

Please only fill out form if serious and within 1 month of purchasing. Or
become a premium buyer if within 6 months of purchase.
If not you are welcom to search on this site.

Fill out form correctly please. First and last name with caps on first
letter,
Email must be accurate to receive the homes.
Accurate phone in case I need more information.
All information is strictly confidential.
Thank you! Now let's get started.....

Best Buys Request Form

*1 Primary City of interest:
Phone:
*Personal email address:
*Type of home, House, condo etc.:
*I am ready to purchase now! Yes or No.:
If above is no, then when? Date.:
Date you will look at homes:
*Realistic Price Range.:
*Are you familiar with this area?:
*# of bedrooms 2,3 etc.:
*Aproximate living area, 1,900 etc:
*Pool? yes or no:
*Getting a mortgage? yes or no:
*Saltwater canal desired? or..:
If saltwater height & depth of boat from water?:
*Or..Fresh water canal not to Gulf:
*Oldest built home acceptable (ex. 25 yrs):
Any details to help me help you.:
*First Name "Required":
*Last Name "Required":
*cell phone w area code:
*Home phone w area code:
*Best time to call you?:
Check;Phone, full name is correct.:
*Name:

Note: Fields with an * are required

Call today! (239) 770-0686 Joseph Beauvais (Buyers Agent) to set up a time to view and buy any offerings.

This site is about Cape Coral Real Estate, Bonita Springs Real Estate, Cape Coral Homes for Sale, Bonita Springs Homes for Sale, Naples FL Real Estate, Bonita Springs Florida Real Estate, Fort Myers Homes for Sale, Cape Coral Homes, Cape Coral Florida Real Estate, Fort Myers Homes, Ft Myers Real Estate, Bonita Springs Single Family Homes, Ft Myers Homes for Sale, Bonita Springs Waterfront Homes, Cape Coral Waterfront Homes, Bonita Springs Luxury Homes, Ft Myers Beach Real Estate, Naples FL New Home, Cape Coral Florida Homes for Sale, Cape Coral FL Real Estate