When you are shopping for a home in Cape Coral or elsewhere in Florida, you need to choose a mortgage company to connect you with a suitable loan.
It is worth putting some extra time into selecting a mortgage company. Doing so will ultimately save you time and money as you complete the loan process and in the future as you pay on your mortgage. Following are some recommendations for choosing the right business to work with on your home loan.
1. Pick a company with local experience.
There are unique considerations when shopping for a home in the Cape Coral region, so you want work with a company that is aware of all the factors that affect the real estate market in the area.
For that reason, you should consider choosing a local Cape Coral mortgage company rather than a big lender that does not have that same level of local experience.
2. Choose a mortgage company with a variety of loan products.
Most lenders are experienced with conventional loans and some other common types of mortgages. But they may have a relatively small selection of specialty products or none.
Look for a mortgage broker in Florida which can connect you with a vast selection of common and specialized loan products. Such a company can search high and low until it finds you a product which is truly ideal for your needs.
3. Work with a company that can handle situations which big box lenders cannot.
There are many situations that big box lenders shy away from. For example, if your credit score is low, many large lenders will simply show you the door. But a local Florida mortgage company can take the time to help you find a mortgage even with a lower score.
Another example might be if you do not have a social security number and want to buy a home. Large lenders that are only used to dealing with traditional scenarios will probably not know how to help you. But a small Florida mortgage company can connect you with an ITIN loan so that you can buy a home now without waiting.
4. Choose a company that can offer you down payment assistance.
A common hurdle for first-time homebuyers is the down payment requirement to purchase a home.
If you want to get around that hurdle, you need to find a mortgage company that can sympathize with your situation and is willing to do what it takes to connect you with a mortgage that you can afford, down payment at all.
Island Coast Mortgage can help you with your down payment in a couple of ways. First of all, we specialize in a number of low down payment mortgage products, including 3.5% down FHA loans, zero down VA and USDA mortgages, and 3% down conventional mortgages.
Secondly, we go a step further to offer down payment assistance. This program is your springboard to owning a home in Florida. We are able to cover up to 4% for your down payment or closing costs.
5. Work with a Florida mortgage company that works hard to bring you the most affordable loans and the best service.
Finally, your experience shopping for a mortgage in Florida should be an easy one. At Island Coast Mortgage, loan experts work hard not only to connect you with an ideal loan, but also to make the process smooth and enjoyable.
If your ready to apply for a home loan now with a company that will go the extra mile to serve your mortgage needs, please call us today at 239-214-7011 to schedule your consultation.