Best time to buy home in Tampa, FL!

Feb. 13, 2013 - PRLog -- If you’ve ever thought about buying a home, now is the time to act. Mortgage rates are still at historically low rates and home prices have bottomed out or are rising in some areas. I have seen numerous cases lately where there is actually a bidding war as soon as a home becomes available because the supply of homes has dwindled. The lack of available inventory coupled with the fact that mortgage interest premiums will rise on April 1st, 2013 sends a signal that it’s time to act now.

The first step in the home buying process is to make sure your financial situation is in order and that starts by seeking advice from an experienced mortgage professional. With today’s strict lending guidelines, it is imperative that you find out what you qualify for and if there are any issues that need to be dealt with before you begin your home search. Most people do not live their lives according to underwriting guidelines and it’s important to know ahead of time, what changes or corrections need to be done to avoid a potential underwriting issue.  In addition, I do not know any real estate agent that will submit a purchase contract without the buyer being pre-approved by a lender.

When choosing a mortgage professional, communication is one of the most important areas to be concerned with. You want to be sure that your loan officer is readily accessible and this doesn’t mean from 9 to 5, Monday thru Friday.  Having access to a variety of lenders is also very important as some lender’s guidelines are significantly different from others. These are areas in which a licensed mortgage broker can have a huge advantage over a big bank’s loan officer which means ultimately, you will end up with a better experience and a better loan.  Mortgage brokers have to complete rigorous licensing, education, and continuing education requirements that a Federally Chartered Bank’s loan officer is not subject to. In today’s ever changing lending environment, you want to be sure your mortgage professional has access to the latest programs, news and guidelines.

Jerry Ballentine is a Mortgage Loan Originator at Bay to Bay Lending in Tampa, FL. He can be reached via phone at 813-549-7867 (office), 727-919-6820 (mobile), or via email at jerry@baytobaylending.com. For more information, visit Bay to Bay Lending on the web at www.baytobaylending.com.

Whether you are seeking to purchase a new home or refinancing your current Tampa Mortgage (http://www.baytobaylending.com/forms/refinanceAdvisor.html), let us show you the way. Bay to Bay Lending is associated with the nation's unsurpassed pricing leaders. The Bay to Bay Lending team of Tampa Mortgage Brokers (http://www.baytobaylending.com/staff/) will make the mortgage process as simple as possible. We pride ourselves on offering a premier level of customer support and we look forward to getting you the best financing available.