Why Getting Preapproved Before Viewing Properties is Essential for Gulf Coast Buyers

Posted by Meredith Folger Amon on March 7th, 2025

Why Getting Preapproved Before Viewing Properties is Essential for Gulf Coast Buyers

By Meredith Amon, Licensed In Alabama and Florida

As an experienced real estate advisor on the Gulf Coast, I can tell you that getting preapproved for a mortgage is one of the most important steps in the home-buying process. Whether you’re looking to buy a primary residence, a second home, a vacation property, or even an investment property, getting preapproved before you start viewing homes will help you understand your budget, streamline the buying process, and give you a competitive edge.

What many buyers don’t know, however, is that interest rates are not fixed—they vary based on a number of factors, including the type of property, your credit score, and …

4009 Views, 0 Comments

HELOC LOANS ON THE GULF COAST

Posted by Meredith Folger Amon on February 11th, 2025

HELOC LOANS ON THE GULF COAST

A HELOC (Home Equity Line of Credit) loan is a type of loan that allows homeowners to borrow against the equity in their home. Equity is the difference between your home’s current market value and the amount you owe on your mortgage. With a HELOC, you’re essentially using the value you’ve built up in your home as collateral to access a revolving line of credit, much like a credit card.

Key Features of a HELOC:

1. Credit Limit: The amount you can borrow is typically based on a percentage of your home’s appraised value minus what you owe on your mortgage. For example, if your home is valued at $300,000 and you owe $150,000, the lender may allow you to borrow up to 85% of your home’s value (which would be…

4288 Views, 0 Comments