Mortgage Blog

Core Mortgage Financial are considered experts at Naples home loans. Naples home loan specialists are ready to discuss your home loan needs. This is a great time to elect to find a Naples home loan. In fact, in spite of the fact that the holiday’s are right around the corner, you may want to consider starting your home shopping now. As a prime destination for retirees, families and singles, the time to consider buying is when there are not a lot of other folks in the marketplace! Fortunately, mortgage rates are still down – in fact, with the onging turmoil between the European monetary crisis, Greece’s austerity programs and new tensions in the Middle East, mortgage bonds appear to be headed for another strong showing.

Contact us today using our online form Naples Home loan or call 239-431-5889 to discuss your home loan needs today.

What you should consider

It’s important to keep in mind that financing your home while the mortgage rates are down is sensible. When you’re shopping for Naples home loans, you should carefully consider numerous factors. Some of the factors that may impact your mortgage rate include:

• Credit rating – always keep in mind the better your credit rating, the lower your Naples home loan rate is going to be. Those with weak credit may be forced to pay between two and four percent higher than those with excellent credit. We currently go down to a 580 middle credit score.
• Down payments matter – when you are purchasing a home, the more you put down, the less risk a lender is accepting. Therefore in addition to not needing the extra expense involved in personal mortgage insurance (PMI) you may also be able to negotiate a slightly lower interest rate.
• Conforming vs non-conforming – One thing that is important to understand is loan values do impact your investors decision. Keep in mind that a “conforming” loan is available for a maximum of $417,000.  These loans typically carry a lower interest rate than “jumbo” or non-conforming loans.

Know what you need

When you are applying for a Naples home loan, you should try to gather your documents before meeting with your loan officer. The loan process can be lengthy unless you prepare for the documents that your lender will need to process and underwrite your loan. Common requests include:

• Tax returns – nearly all lenders will require a minimum of two years of your federal tax returns.  Any additional forms that were filed with your basic 1040 will also be required;
• Pay stubs – typically you will be asked to provide a minimum of four pay stubs. You may also be asked to provide a current pay stub at the time of closing;
• Purchase and sale – your lender will require a copy of your purchase and sale agreement. Make sure that if you have made a good faith deposit that you include proof of the deposit;
• Bank statements – depending on the lender, you may be asked for the last three bank statements. If you are purchasing a home and depending on funds in your bank account for your down payment, you may have to provide additional bank statements to show the “aging” of your down payment funds.

These are some of the basic documents you will be asked to provide. Depending on the lender, you may be asked for additional documents to process your Naples home loan.  At Core Mortgage Financial, we’ll be happy to work with you to make sure that you understand from day one what documents are needed for a Naples home loan. It is important to keep in mind that we have access to hundreds of qualified lenders and each of them has slightly different documentation requirements. However, regardless we are here to assist you in every aspect of your Naples home loan application, approval and closing.

If you are seeking to purchase a home in Naples, Florida, we have Naples loan mortgage specialists standing by to take your call 24 hours 7 days a week.

Please do not hesitate to call us NOW at  (239) 431-5889.

Apply for a Naples Home Loan or call 239-431-5889. Alternatively, since our main office is here in Naples you can come in to see us.

Disclaimer: Rates, programs, guidelines are subject to change without notice.