Real Estate

Top Ten Questions for Anna Maria Island Lender

Choosing the right experts to help in your Anna Maria Island property search is imperative. Zoning, Coastal Construction Lines, Riparian rights, Vacation Rental regulations, insurance, property easements and the list of important considerations when purchasing Anna Maria Island property can go on and on. One of the key professionals in a successful property purchase is choosing the correct lender. Below are the top ten questions to ask when choosing your Anna Maria Island lender.

  1. How many loans do you perform on Anna Maria Island on average a month or quarter? If the answer is one or two per year then ask if they service other barrier islands like Longboat or Lido Key. If the answer is no then we would suggest you move on. One challenge with Anna Maria Island property is mainland lenders can struggle to understand land value versus improvement value. More specifically, the land is normally worth more than the home.
  2. Where is your office located? This can be another key indicator of how local the lender is. If their office is in Omaha, Nebraska you may want to look elsewhere.
  3. What are your fees, rates, and closing costs in general? Are they negotiable? A good faith estimate will be provided by the lender however good to work through fees prior to investing your time with the wrong lender.
  4. Do you perform remote closings where paperwork can be signed elsewhere? This can be key for second homes. Most lenders provide remote closing but good to check to be sure.
  5. What loan to value is required for the property? Loan to value (LTV) is the amount put down to secure the note. For example a $1,000,000 loan that has an LTV of 20% would mean the amount needed to put down to secure the note is $200,000.
  6. What type of mortgage would you suggest? What plan would you suggest for the situation? Sometimes out of the ordinary loans can create the best plan for second home buyers.
  7. Do you offer discounts for inspections, auto-payment set up or setting up specific accounts?
  8. How long will the loan approval process take? Most lenders can approve a loan in less than a week. If the lender answers significantly longer ask why?
  9. How long will it take to close the loan? Most lenders can close within 45 days. If the lender asks significantly longer ask why?
  10. Do you have any pre-penalties for paying the loan off early? There should be no penalties for paying off the loan early.

BONUS question: If you are considering condominiums as part of your purchase ask if the lender provides condo-tel loans? This is when there is an onsite staff member that assists in booking vacation rentals. While there are not many condo-hotel properties on Anna Maria Island you may find the perfect condominium that your lender of choice cannot support. If this is a concern seek more information from your real estate professional and they can let you know if this question should be posed to your potential lender.

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Beach Life Anna Maria Island Florida Sunset in Autumn

An Anna Maria Island Florida Sunset in Autumn is Something Truly Spectacular!

Most of us, at one time or another, has been up north to see the “colors,” but none of us seems to think about Florida as a place to enjoy the beauty of fall, do we? Yet we’ve been on Anna Maria Island for the past 3 weeks and have enjoyed all of that the Gulf Coast has to offer this time of year!

Beautiful Weather, Beautiful Sunsets!

The weather is absolutely fabulous, not often annually does this sub tropic climate feel so welcoming. It is a wonder that this is not the most popular time of year to visit Anna Maria Island; the water is still warm from the hot summer and the humidity starts to lift off the beaches, just perfect. We go to the beach and often talk about how it seems like we have this magnificent place almost all to ourselves (except for the pelicans and sandpipers). Then, we visit our favorite beach front restaurants, and no longer have to worry about when we go, for the crowds are gone waiting for tables (amazing, since the hospitality, the food, and the drinks are still outstanding!).

Finally, we go to the beach at sunset (something that is a bit of ritual among true islanders)! It’s time to see the magnificent colors of fall.

The scene catches our breath as the oranges, red-pinks, and golds blend together and change as each minute passes. Our turning leaves are the sun and sky every day. Again, we wonder at the gift of this special place. It is enjoyed by so many and yet often overlooked at this time of year. THINK AGAIN!


Real Estate

Anna Maria Island In The News

For years, Anna Maria is been generating interest from some of the biggest news outlets from across the country.  The island is one of the premiere vacation destinations for beach lovers looking to relax and enjoy the white sandy beaches and warm emerald green waters.

With such a great reputation, what kind of reviews is Anna Maria Island getting as a vacation destination from magazines like the New York Times?

Here are some informative articles about Anna Maria Island from the top National News outlets from around the country.

The New York Times Features Anna Maria Island

Local Food and Color on Anna Maria Island

Perfecting The Fine Art Of Doing Nothing

A Florida Island, End to End, Table by Table

The Boston Globe Features Anna Maria Island

Anna Maria Island: Low-key pleasures rule on this slice of Old Florida

The New York Post Features Anna Maria Island

The best place in Florida you’re not going

USA Today Features on Anna Maria Island

Experience Anna Maria Island, Florida

Vacations to Anna Maria Island, Florida

Huff Post Features On Anna Maria Island

Day At The Beach On Anna Maria Island

Southern Living Features on Anna Maria Island

Florida’s Best Beaches

Baltimore Magazine Features on Anna Maria Island

A Hidden Island (That’s Easy to Find!)

ABC News Features on Anna Maria Island

The ‘Old Florida’ feel of Anna Maria Island

What Twitter is Saying About Anna Maria Island

Most Recent Twitter News About Anna Maria Island