Florida Mortgage : Learning Center

With all of the Fannie Mae and Freddie Mac mortgage guideline changes that have made buying a new home in Florida more difficult; it’s nice to know our Construction to Permanent mortgage programs are being sought after by many Florida homeowners and more.

I know that Florida home sales are down, foreclosures are up and qualifying for almost any mortgage is causing several Florida mortgage lenders to call it quits.  But we are talking with potential construction to permanent borrowers everyday. 

Yes, the Florida contruction to permanent guidelines are a little more restrictive; I’m simply happy that the calls are coming in from our Web Site.  In fact, I am getting calls and emails from local Florida mortgage competitors asking about how to structure and provide construction to permanent financing for Florida homebuyers.

Remember, when seeking advice regarding building your new Florida dream home; make sure you are speaking with a seasoned veteran of construction to permanent mortgages. 

With the release of minutes from a December 11th meeting; the FOMC, Federal Open Market Committee, expects the economy to grow “noticeably below its potential in 2008″.  Today’s $100 targeted oil market, lower homeowner incomes, and the housing mortgage market mess have squeezed the lending industry almost dry.

This all sounds bad and is; however, this should encourage the Federal Reserve board members from making moves behind the curve and actually lower interest rates immediately.  It seems the Fed is always reacting to the market when I believe they should set the tone for market and economic improvement. 

Florida mortgage loans are still available for the few that can actually qualify.  More restrictive qualifying terms and increased credit score requirements can only be eased with mortgage rate cuts from the Fed.  2008 is going to be a year of very low fixed mortgage rates; wait and see.  If you are having trouble qualifying for a new home purchase mortgage or a refinance mortgage; please call your Florida mortgage professional.