Florida Mortgage : Learning Center

When shopping for a FL mortgage online many home buyers focus only on the interest rate.  This is important, however, there is more to consider than a seemingly low advertised interest rate. 

• What about experience in the FL mortgage professional whether on the phone or in person? 

An experienced FL mortgage loan officer knows today’s mortgage program details that may help you make better informed decisions.  Popular mortgage programs in FL include FHA loans for first time buyers with small down payments; FNMA or FHLMC conventional mortgages for those with 20% or more saved for down payments; and of course FL VA home loans which allow qualified Veterans to finance the entire purchase amount with no private mortgage insurance.

• How about upfront FL Good Faith Estimates? 

FL home buyers and home owners are entitled to receive their Good Faith Estimates upfront so discount point and other closing costs are easily comparable with other lenders allowing the shopper to find the best terms available.

• What about those discount points for your FL mortgage? 

Many advertisers (you’ve seen them on TV) illustrate reasonably low fixed interest rates, yet, when you pause your DVR your read they are charging 2.125% in discount points – for primary residence mortgages with 20% down and credit scores above 750!  Hmmm…

Get the lowest interest rate you can for your FL mortgage, but make sure you find an experienced FL mortgage professional who knows FL mortgage program details, will provide an upfront Good Faith Estimate, and who will not charge discount points on primary or secondary homes.  For more information on your next FL mortgage call, 888.399.0520, or contact me anytime.

Florida home prices are at extreme lows, especially when they are banked owned. Our Florida real estate market is the place to be if you are considering to purchase a nice home to add to your investment home portfolio or to simply fix up, beautify and sell.    It’s better known as flipping.  Sellers do favor investors with cash to expedite closings in very little time.  However, sellers should beware of FL mortgage flipping guidelines when home buyers are obtaining Fannie Mae or Freddie Mac low interest rate loans.

Many Lenders and banks don’t lend residential mortgage funds, when flipping is involved.  Some have seasoning rules (time the current owner need to have been on the title or deed) up to 6 months!  Other lenders provide opportunities to purchase with a new Fannie Mae loan after 90 days of seasoning has passed.  There are Lenders willing to assist when home buyers are purchasing flipped homes.

Interestingly enough, we have found one bank in Florida that doesn’t have a flipping obstacle to overcome, at all!  Please make sure that all parties involved in helping a new home owner to-be into their FL dream home – know that the seller is in fact flipping the home; as to avoid any unforeseen delays or denials.

For more information on FL home mortgages including FNMA, FHLMC or VA home loans, please feel free to contact me directly at 407-733-6425. or info@beechtreemortgage.com.