Mortgage Professionals for St. Augustine Home Buyers, Mortgage Rates

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And Can Save You Thousands!

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RECOMMENDED MORTGAGE PROFESSIONALS

Here is my list of preferred mortgage professionals (P.S.-- I do not get referral fees or "kickbacks" from any of these people—this is illegal in the state of Florida-- these are just people who are excellent in what they do!). Please mention my name – they will give you excellent service as one of my Preferred Clients.

Matt Daly--- Dolphin Home Mortgage

Website

904-280-9600

matt@dolphin-mortgage.com

Gary Burmeister

Website

904-759-6837
gburmeister@primelending.com

Allison Barlow --- Wells Fargo Home Mortgage

Website

904-461-7832

allison.l.barlow@wellsfargo.com

Carol Alford --- PNC Mortgage
Website
904-806-1626
Carol.M.Alford@pncmortgage.com

The 10 Commandments For Borrowers

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!

3. Thou shalt not use charge cards excessively or let your accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture, appliances or anything else for your new home.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without first checking with your loan officer.

9. Thou shalt not change bank accounts.

10.Thou shalt not co-sign a loan for anyone.

WHAT IS THE DIFFERENCE BETWEEN A PRE-QUALIFICATION AND A PRE-APPROVAL?

What's the difference between pre-qualification and pre-approval? In the world of real estate the terms "pre-qualification" and "pre-approval" are often used interchangeably. But they have different meanings.

What is a pre-qualification? A pre-qualification is an estimate of how much you can afford in a mortgage payment. It is based upon the information you provide, and is subject to the approval process, including further details such as a credit report, appraisal, and income verification. The information you provide won't be verified as part of the pre-qualification process.

What is a pre-approval? A pre-approval is a firmer commitment on behalf of the mortgage company and is a more formal process which includes a credit check and even an employment verification. During a pre-approval the mortgage company does all the work of a full approval, except for the appraisal and title search. A credit report will be obtained by the lender to verify your monthly payments on installment loans and credit cards, and to check whether you have a history of making your payments on time. You will also need to provide paystubs and W-2 forms (or tax returns if you are self-employed), plus statements from savings and investment accounts to verify your assets. If you've been pre-approved for a loan, you can shop for a house with more certainty and less anxiety because you won't be going through the whole process worrying about your mortgage approval.

However neither a pre-approval nor a pre-qualification means you are guaranteed a mortgage. Lenders still need to look at property appraisals, verify information, and in many cases, re-check credit before agreeing to make a loan.