In the past 5 years, the mortgage industry has undergone a major overhaul. If you’re planning to buy a primary or vacation home in the popular Destin-South Walton area on Florida’s scenic Gulf Coast, you should be aware of the changes in the mortgage process. South Walton Realtors say home buyers can expect to deal with more paperwork, undergo a more thorough financial review, pay more money up front, and wait longer for their mortgage to be approved. An experienced Destin Realtor can help home buyers navigate their way through the maze of new paperwork and other requirements.
Here’s what to expect when you apply for a mortgage to purchase a vacation home or condo in the Beaches of South Walton:
- More paperwork. Be prepared for a flurry of…