A Naples Mortgage


		Naples Mortgage

Read these Naples mortgage tips before you pick a lender.

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Naples Mortgage

What's more exciting than finding the perfect Naples luxury condo or waterfront home?

Possibly it would be finding just the right lender who gives 100% to get you a great mortgage deal.

It doesn't just happen. It takes some work on your part.

A great rate's not the whole story.

Sure interest rates are low right now, and you can save a bundle, right?

IF you do some homework and understand all the fees and costs involved. Your loan is just the beginning! If you go for rate alone, you could end up paying thousands more in costs than you need to.

That is why you don't sign on the dotted line with the very first lender you visit.

You better shop around, as the saying goes.

Talk with several prospective lenders. They can be banks, savings & loans or mortgage brokers (who work with direct lenders.) The important thing is to ask questions and keep notes so you can compare rates, fees, customer service, and your level of comfort.

— Educate yourself about the process so you will know if a 15-year-fixed or a 3-year ARM is best for you.

— Ask your agent or a friend for a recommendation of a lender they have used and liked. For starters, you can talk to one of the lenders we've known for some time. I can't tell you any of them will have your perfect mortgage, but I can say you these folks really know Naples and will be willing and able to answer all your loan questions.

— Be wary of great rates that disappear. When that advertised rate, or a rate quoted on the phone is "not available" when you show up at the lender's office, head for the door.

— Ask for fees and costs in writing so you have something to compare. If you see some costs missing on one lenders' list, ask. Chances are those fees do have to be paid. It's also good to know that some lenders will cut fees or reduce some costs. Find out if you can negotiate.

— Remember that you need to be pre-approved for a specific loan amount (or monthly payment before you fall in love with a Naples property and want to make an offer. Pre-qualified simply indicates that you can get a loan; it does not mean you have one.

— Check with your agent, but in our experience, it is a better idea to lock in a rate when you get your loan than to wait and hope for a better rate as you get closer to the closing date. We have seen some lenders tell customers it's to their advantage to wait, but when the time comes the rate turns out to be higher!

Take your time and research the types of loans and loan packages available. Today it is possible to finance your Naples home with no down payment, and to find a lender who will work with you on fees, costs and other strategies that will save you money. You don't have to settle for less.

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