Thinking of purchasing a home in the Florida Keys? One of the first steps that needs to be taken is preparing for the discussion with a lender to find out how much you feel comfortable affording.
Do you know the importance of your credit when applying for a mortgage? You probably understand that credit is important, but what are some of the steps you should do to prepare yourself when applying for a home loan. I decided to pose my question to a mortgage lender who has been in the mortgage industry for 35 years.
This is what Barbara Neal had to say…
Barbara Neal’s 5 tips on how to prepare yourself when applying for a mortgage:
1. Pull Your Credit Report – www.annualcreditreport.com (Government mandated site and it is FREE)
2. Verify that the information is correct
3. DO NOT make large purchases whether by cash or credit – this will impact your credit report
4. DO NOT close open credit accounts – length of credit has a positive impact on credit score
5. WAIT until after loan is closed to make large purchases or apply for credit
ABOUT BARBARA NEAL
Barbara began her career in the mortgage banking arena with a national mortgage banking firm in Atlanta, Georgia. During her career she has been involved in many aspects of the mortgage business. She began her career as a processor but within a short period of time, she was managing the processing department and training loan originators. In 1980, she moved to Florida as an Account Executives with PMI Mortgage Insurance Company. After several years in the mortgage insurance arena, she was chosen to be the first satellite representative for Fannie Mae. Barbara was the only representative to work outside of their brick and mortar regional offices. Fannie Mae’s experiment was to determine if local representatives would improve the relationship between Fannie Mae and the lending community. The experiment was successful and was soon expanded to include all major markets in all states. After 15 years, Barbara retired from Fannie Mae in 1997 and spent two years fishing tournaments with her retired husband in the Florida Keys. However, within two years, Barbara missed the excitement of the mortgage business and accepted a position with TIB Bank in Islamorada, Florida.
Barbara is an affiliate member of the Florida Keys Board of Realtors, is an Ambassador to the Islamorada Chamber of Commerce; and is a sitting member of the Monroe County Land Authority Advisory Committee serving at the pleasure of the Monroe County Board of County Commissioners. Barbara was the founding President of the South Florida Association of Professional Mortgage Women; a past advisory committee member to the Florida MBA; a past member of the Blue Ribbon Committee for Affordable Housing in Monroe County; a past Director and Officer of the Girl Scout Council of Tropical South Florida serving Dade and Monroe Counties; a past Education Chair of the Greater Miami MBA; a past member of the Fannie Mae South Florida Partnership Office Advisory Committee; and a past member of “WE WILL REBUILD” advisory committee following Hurricane Andrew. Barbara’s passions are her husband and family, fishing, running local foot races, and the mortgage business.
Barbara’s work experience gives her a broad understanding of not only originating mortgages but runs the gamut of mortgage banking. Whether you are interested in a mortgage loan or just have questions about the mortgage business, Barbara is your go to person.
Barbara can be reached at
cell: (305) 393-1042
office: (305) 664-6264
email: Barbara.Neal@capitalbank-us.com
BOOK MARK MY WEBSITE so you can easily find it. My website is updated on a daily basis, extracting information from our local multiple listing service (MLS). Whether you are looking for Florida Keys waterfront homes, Luxury homes in the Florida Keys, Florida Keys Condominiums, Homes in the Florida Keys, Vacant Lots or Commercial properties – my website is the source for all your needs.
The Florida Keys are 106 miles long – if you know which area you would like to purchase a Florida Keys home you can narrow your search. There is the Upper Keys – which is Key Largo and Islamorada; the Middle Keys – which is Marathon; the Lower Keys and Key West.