Living in Charlotte County Florida

Find the perfect home in sunny southwest, Florida


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The concept of a mortgage is quite simple.  It’s basically a loan for a home wherein the property itself is used as collateral. Securing a mortgage, however, can be complex.  The process can take 30 days for a conventional loan and 45 days for an FHA or VA loan. There are several parties involved from the escrow agent to the loan underwriter, they all work behind the scenes to put it all together. 

Effective October 3, 2015 – new loan estimate and closing disclosure forms.  Click this link to the Consumer Financial Protection Bureau to get a Home Loan Toolkit –


BMO Harris Bank, Port Charlotte, FL – Lara Praizner, 941-979-4480 (Canadian buyers and Mobile Home Lending)

Morningstar Mortgage, Port Charlotte, FL – Joseph Morningstar, 941-426-7827

Calusa National Bank, Port Charlotte, FL – Odette Embury, 941-255-8558

Charlotte State Bank, Port Charlotte, FL – Connie Ritchhart, 941-624-1906


Pre-Qualification vs Pre-Approval

If you’re considering the purchase of a new home, you may be concerned with the issue of finance. Attaining the right mortgage is a key step in the home buying process, but it doesn’t have to be a stress-inducing one. Most lenders offer prequalification, pre-approval or both to help you know where you stand. Let me explain the difference between prequalification and pre-approval:
•Prequalification: Prequalification is a preliminary estimate of how much you can afford to pay for a home based on information you provide. Because credit and employment information aren’t validated for prequalification, it can only be considered a rough idea of a monthly mortgage payment and loan size. This can be a useful guide as you begin the home buying process, however.
•Pre-approval: Pre-approval is a written commitment from a lender to finance your home purchase up to a set amount. This indicates that the lender has taken a close look into your financial history and has agreed to lend you a specific amount of money, reliant on certain details like a finalized sales contract and professional inspection. Pre-approval indicates to sellers that you are a serious homebuyer.Regardless of which option you utilize, or even if you take both steps, you’ll be able to shop with much more confidence. Why wait until you find the perfect home to discover problems with obtaining a mortgage?
If you would like more information on how either process can help you get into the home of your dreams, give me a call. I’d be happy to answer any of your real estate questions.

Author: tammyhayes

I am a residential realtor serving Charlotte and Sarasota Counties in sunny, southwest Florida. Contact me for all of your real estate needs. I am professional, ethical, informational, and understanding. I will be with you to assist you every step of the way. Whether you are buying or selling a home, I can help.

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