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Frequently Asked Questions
Get answers to common mortgage questions for Sarasota, Bradenton, and Lakewood Ranch home buyers. At Braun Mortgage Group, we believe in educating our clients and ensuring every question is answered. If you don't see your question below, call or text Greg at (941) 315-2112.
What does a mortgage broker do, and how is it different from a bank?
As an independent mortgage broker, Braun Mortgage Group shops your loan across 20+ lenders to find the most competitive rate and program for your situation - instead of offering only one bank's products. You get more choice, personalized guidance, and often a better rate and lower closing costs.
Do I need a mortgage broker or should I go straight to a bank in Florida?
A bank can only offer its own loan products, while a mortgage broker like Braun Mortgage Group compares programs and rates from 20+ lenders on your behalf. That means more options, tailored guidance, and often lower rates and closing costs - all at no extra cost to you, since brokers are typically paid by the lender.
How much does it cost to work with a mortgage broker?
In most cases there's no out-of-pocket cost to work with us - mortgage brokers are typically compensated by the lender, not you. We'll always review all costs and fees upfront so you have a clear, transparent picture before you commit to anything.
What areas do you serve?
We're based in Sarasota, and the large majority of our business is Sarasota, Bradenton, and Lakewood Ranch. That's deliberate — it's where we know the appraisers, the condo associations, the CDD districts, and which insurance carriers are actually writing policies this month. Local knowledge is worth real money at the closing table.
That said, Braun Mortgage Group is licensed by the Florida Office of Financial Regulation to originate residential mortgages anywhere in the State of Florida. If you're buying in Naples, Tampa, St. Pete, Orlando, Jacksonville, or the Keys — or you're a past client relocating within Florida — we can absolutely do that loan.
Call or text Greg directly at (941) 315-2112.
I'm a first-time homebuyer. Where do I start?
Helping first-time buyers is one of our favorite things to do. The best first step is a quick pre-approval so you know your budget before you shop. From there, we'll explain your options in plain language, including low-down-payment programs like FHA and 3%-down conventional loans, and guide you through every step to closing. There's no such thing as a silly question here, so call or text Greg at (941) 315-2112 and we'll help you feel confident from day one.
How do I get pre-approved?
Getting pre-approved is simple and often same-day. Call or text Greg at (941) 315-2112 or apply online, and we'll review your income, assets, and credit to give you a clear picture of what you can afford before you shop for homes.
What's the difference between pre-qualified and pre-approved?
Pre-qualification is a quick estimate based on information you share, while pre-approval involves verifying your income, assets, and credit for a stronger, more reliable commitment. In competitive markets like Sarasota, a pre-approval helps your offer stand out to sellers.
How much home can I afford?
Your budget depends on your income, monthly debts, credit, down payment, and current interest rates. A good rule of thumb is that your total housing payment should fit comfortably within your monthly budget, but the most accurate answer comes from a quick pre-approval. We'll review your full picture and give you a clear, realistic price range before you start shopping in Sarasota, Bradenton, or Lakewood Ranch.
What documents do I need to apply for a mortgage?
For most loans, we'll ask for recent pay stubs, W-2s or tax returns, bank and asset statements, and a photo ID. Self-employed borrowers may provide bank statements or business documentation instead of tax returns. Don't worry about gathering everything perfectly up front, though; we'll give you a simple checklist and guide you through exactly what's needed for your specific loan program.
How much do I need for a down payment?
It depends on the loan program. Conventional loans can start as low as 3% down, FHA loans at 3.5%, and VA and USDA loans may allow 0% down for those who qualify. We'll help you compare options and choose what fits your budget.
What credit score do I need to qualify?
Many programs accept scores starting around 620, and some government-backed loans go lower. Even if your credit isn't perfect, it's worth a conversation - we can review your situation and outline a path forward.
How long does it take to close on a home loan?
With Braun Mortgage Group, most loans close in 21-30 days, compared to 45+ days at many larger lenders. Because Greg and Cameo personally handle your file from start to finish, the process stays fast and transparent.
What are current mortgage rates in the Sarasota area?
Rates change daily and depend on your credit, loan program, down payment, and property type, so there's no single number that fits everyone. Because we shop 20+ lenders, we can find the most competitive rate for your situation - call or text Greg at (941) 315-2112 for a live quote today.
Do you offer VA loans for veterans and active-duty military?
Yes, and it's an honor to serve those who've served. VA loans offer major benefits for eligible veterans, active-duty service members, and surviving spouses, including 0% down payment, no private mortgage insurance, and competitive rates. We'll walk you through your Certificate of Eligibility and help you use your VA benefit to buy in Sarasota, Bradenton, or Lakewood Ranch. Call or text Greg at (941) 315-2112 to get started.
Do you offer jumbo loans for luxury homes?
Yes. For homes priced above conventional loan limits, including waterfront and luxury properties in Siesta Key, Longboat Key, and Lakewood Ranch, we offer competitive jumbo loan programs. Because we shop 20+ lenders, we can find flexible options for higher loan amounts, and we'll tailor the terms to your financial picture. Call or text Greg at (941) 315-2112 for a personalized jumbo quote.
Can I finance an investment property or second home?
Absolutely. We finance rental properties, investment properties, and second homes throughout Sarasota, Bradenton, and Lakewood Ranch. Options include conventional investment loans and DSCR loans, which qualify you based on the property's rental income rather than your personal income, making them a great fit for real estate investors. Whether it's your first rental or your tenth, we'll help you structure the right loan.
What is a DSCR loan, and how does it work?
DSCR stands for Debt Service Coverage Ratio. A DSCR loan qualifies you based on the rental income a property generates rather than your personal tax returns or W-2 income. If the expected rent covers the mortgage payment, you may qualify, which makes DSCR loans popular with real estate investors and self-employed buyers. We offer DSCR programs for investment properties across the Sarasota and Manatee County area.
When does it make sense to refinance my mortgage?
Refinancing can make sense when rates drop, when you want to lower your monthly payment, when you'd like to shorten your loan term, or when you want to tap into your home's equity for renovations or other goals. The right answer depends on your rate, remaining balance, and how long you plan to stay in the home. We'll run the numbers with you honestly, and if refinancing doesn't benefit you, we'll tell you. Call or text Greg at (941) 315-2112 for a no-pressure review.
Can I get a mortgage in Sarasota if I'm self-employed?
Yes. We specialize in loans for self-employed borrowers, business owners, and 1099 earners. Through Non-QM and bank statement programs, we can often qualify you using 12-24 months of bank statements or alternative income documentation instead of traditional tax returns.
Do you help people relocating to Florida from out of state?
Absolutely. We work with many buyers moving to the Sarasota, Bradenton, and Lakewood Ranch area from out of state, including remote closings and guidance on the local market. Whether you're relocating for work, retirement, or a second home, we'll make the process smooth from wherever you are.