So you’re ready to come to the sunshine state and set up your first or second home here. You’ve been browsing online for high-end Florida real estate and have even picked out one or two luxury homes that are worth taking a look at. You have substantial assets and know you’ll need a jumbo mortgage… but preapproval? Isn’t that for people who aren’t looking at million-dollar Florida properties?
Well, the short answer is no. Even for jumbo mortgage loans, your first step should be preapproval.
Why?
Real estate agents representing luxury Florida properties don’t have time to waste. You may know that you can afford the mansion you’ve fallen for online, but they don’t know that. Having a jumbo mortgage preapproved before introducing yourself to your real estate agent shows that you understand what they do and respect their time, and that you are in fact exactly the client they’re looking for.
Getting preapproval will increase your chances of finding the right jumbo mortgage for your needs and finances. For example, at Avrus Financial and Mortgage, we know all the jumbo mortgage products available, and we spend time researching what the best one will be for your specific financial situation. You’ve earned the luxury that you’re seeking, but there’s no need to pay any more for it than you have to, and we’re experts at ferreting out hidden costs and making you aware of them. What we’ll do is find exact right fit for you at this time, and, importantly, we’ll have the time to do it, without being pressured by the need to act quickly on a specific property. Finding the right mortgage is the key to long-term security and happiness inside your home, so don’t neglect to spend the time and work necessary to get it right.
Besides that, we’ll help you ascertain exactly what you need to see your way to a closing without surprises.
Remember that getting preapproval for your jumbo loan is different from prequalification for it. Prequalification means that a professional—a banker, a broker, etc.—has looked at your finances and believes that you could qualify for a mortgage of, for example, $2,500,000. There’s no signing of papers here: it really comes down to someone’s informed and educated opinion. Which is fine—but honestly, it really isn’t enough. Preapproval means that you’ve been through the process, you’ve supplied all the documentation required and an actual offer of a loan in the amount determined has been made. You generally have 60 days to take advantage of your preapproval.
At Avrus Financial and Mortgage, we’ve helped get wealthy real estate clients preapproved for the right jumbo mortgage loan and into the high-end luxury Florida property of their dreams, and we can help you, too.
Why not ask us how today?
