Let’s talk mortgages—without the jargon, sales pitches, or confusion. If you’re considering buying or selling a home here in Palm Coast, understanding your mortgage options (and potential pitfalls) could save you thousands and a whole lot of stress. Here’s what you really need to know—straight from someone helping folks through this every week, not just spouting what the banks want you to hear.
The Real Deal on Mortgage Pre-Approval
Banks love to talk about “pre-qualification.” But for real negotiating power, you need a full pre-approval—with income, credit, and assets verified. In our current local market, sellers want to see a strong pre-approval before they even consider an offer, especially for homes in the $350K–$700K range. I can connect you with lenders who are trusted authorities here in Palm Coast, so your offer stands out. Their pre approval often times means a lot more than a big online lenders pre approval.
Down Payment Myths—And Hidden Costs
You do NOT always need 20% down here—even first-time buyers have options with as little as 1–3% down through various loan programs. But don’t forget hidden costs:
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Lender fees
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Appraisals
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Escrow setup
Flagler County’s average closing costs run 2–5% of your purchase price. Ask your lender for a full breakdown—then bring their estimates to me so I can spot anything unusual.
Shop Local for Your Loan
National lenders sound convenient, but the best deals (and fastest closings) are often with local people who know Palm Coast and nearby community quirks. They can often close faster and help with unique property loans—saving you time, headaches, and sometimes money.
Rate Shopping Isn’t Just a Number
Interest rates are important—but the lowest rate might come with extra points, prepaid interest, or stricter terms. Always ask for a Loan Estimate showing every fee, not just the APR. And remember: what matters most is your total payment and cash required at closing.
Seller Tip: How Your Buyer’s Loan Impacts Your Sale
If you’re selling, pay attention to your buyer’s chosen lender. FHA, VA, and conventional loans each come with different requirements, timelines, and risks. Local experience counts—ask for details before you accept any offer.
Final Thoughts
Mortgages are complicated—no way around it. But with the right local team and a straight-shooting agent (that’s me), you can avoid surprises and save real money. Ready to talk specifics? Reach out, and I’ll connect you to honest pros who put your interests first, not the bank’s.
