Frequently Asked Questions
What will my mortgage payment be?
What sets your mortgage loan options apart from retail banks like Chase, Bank of America, etc.?
Independent mortgage brokers like us work with your best interest at heart. We shop multiple lenders to help you save money and get you a great deal! We also have many different loan programs and options for people who are self-employed, investors and options for manufactured homes and land loans.
How does your brokerage tailor the mortgage application process to meet my needs?
You can choose to apply online on your own and at your own pace, you can come into our office to apply in person and get a more personal experience or we can help you fill out your loan application on the phone. Regardless of the option you choose, we will walk you through each step.
What specific documents will I need to provide for a mortgage application through your brokerage?
If you are a W2 employee, we would just need your most recent 2 years of W2's and most recent 30 days of paystubs. If you are self-employed, we need your most recent 2 years of your business and personal taxes. Documents needed can vary depending on the applicant and scenario.
Can you explain how your pre-approval process benefits me as a potential homebuyer?
You will know exactly how much buying power you have so you aren't aimlessly looking for homes that you cannot afford. Seller's will take you more seriously which improves your chances of having your offer accepted. It can also help you close faster if we are able to get your loan underwritten early (this will vary by loan).
How do you ensure a timely closing process for mortgage loans with your brokerage?
We are extremely detailed and get many things that are needed for the loan process out of the way early into the process and we remain in constant contact with everyone involved in the transaction like your realtor, title company, etc. so that everyone is on the same page.
How do you assist clients in determining if refinancing their mortgage is a wise decision?
We would first consider other debts the client may have like credit card debt and analyzing their overall financial situation to understand how a refinance can impact their monthly payments. This is done by calculating what is called a blended rate.
Do you specialize in providing mortgage options for specific groups, such as self-employed?
Yes, we have several options for self-employed borrowers like bank statement loans, Profit & Loss loans and even loans that work with your CPA.
What personalized resources or guidance do you provide to first-time homebuyers throughout the mortgage process with your brokerage?
We will walk you through all of the steps and provide you with a handbook that helps explain everything that you can expect with the purchase of your first home.
How frequently can I expect updates on the status of my mortgage application through your brokerage?
You will receive an update on your transaction every time we move along to the next step of the process or anytime a new development is made. We are always in communication with our clients and can be reach via text, email or phone call.
102901 Overseas Highway, Key Largo, Fl. 33037
NMLS: 2442164, 1557151
The Florida Mortgage Lab, LLC is an Equal Housing Opportunity provider. We do not discriminate on the basis of race, color, religion, sex, handicap, familial status, national origin, or any other protected characteristic. All services are subject to approval based on individual qualifications.