Use a Trusted, Referred Mortgage Broker or Banker If you’re thinking of looking for real estate in Bonita Springs or you’re in the process of shopping for a home you’re going to come to the crossroads of financing your real estate purchase if you’re not a cash buyer. Your real estate agent, if they’ve got [...]
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Bonita Springs Luxury Real Estate Mortgage Loans The clock is ticking for those home buyers who wish to finance a Bonita Springs luxury home with a jumbo mortgage. The jumbo mortgage market is going to change in 2014 and home buyers of luxury real estate in Bonita Springs will want to take action before the [...]
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Refinancing or Getting a Mortgage in Bonita Springs Fla A recent buyer of Bonita Springs real estate just secured a 30 yr fixed @ 3.625%. Mortgage rates continue to bounce around at all time lows. If you haven’t considered a refinance of your current mortgage, it might be time to contact a mortgage broker and [...]
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Local Bonita Springs Mortgage Broker If I had a dollar for every sad-as-a-country song story about a mortgage loan that didn’t close on time or a real estate purchase that fell apart because of the mortgage I could retire from real estate. As fate would have it, I’m sitting at my computer eating a spicy [...]
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What are the FHA Loan Limits in Bonita Springs? FHA loan limits in Bonita Springs, Estero including Lee and Collier Counties. FHA financing can be very helpful for home buyers if they would prefer or are only able to provide a smaller down payment amount. There are restrictions on how much can actually be financed. [...]
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Turned Down For Financing?Private Money – Hard Money If you’re in the position where you need to buy a home in Bonita Springs but you don’t qualify for conventional financing there are alternatives. Many buyers immediately think of looking for owner financing which offers a very limited pool of eligible real estate for sale. First, [...]
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Mortgages, Divorce, Refinance and Quit Claim Deeds A couple of great mortgage questions have come in over the last few weeks … Question: We’re considering selling our place and purchasing another and we would like to do back to back closings. Is this something that can be done? Not everyone can pay cash for real [...]
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Private Money Mortgage Lending Chris Brown from Certified Mortgage planners sent me an email with a new program that may interest a few real estate shoppers. For those of you mentally ready, but not credit-ready, to get back into the real estate market this may be an alternative to a traditional mortgage for real estate [...]
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If you do not see the video above click here: Experian using rental history to calculate credit score: Rental History Credit & Future Real Estate Purchase Wouldn’t it be great to see the other credit bureau’s follow Experian’s lead? Bonita Springs real estate buyers would be able to rebuild dinged credit by paying their rent [...]
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Weekend mortgage rates for buyers of Bonita Springs, Florida real estate.
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Coughing Up Info Before The Real Estate Hunt What do you have to divulge before you buy real estate? The short version is “it depends”. The longer version comes after you decided what you’re thinking about budgeting for your real estate and how you’re going to pay for the real estate. It really doesn’t matter [...]
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Taking Mortgage Broker Recommendations There’s a big difference between inexpensive and a good value where home loans are concerned. Throw in a few dozen flashy ads with teaser interest rates and all the magic the loan officer promises to work for you and let the mortgage cyclone begin. Getting a mortgage is unsettling for some [...]
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Pros and Cons of a Bi-Weekly Mortgage Program When a borrower enters into a contract to make bi-weekly payments on their mortgage, the amortization schedule is accelerated. For example, with a 30-year amortization schedule, the borrower makes 12 payments per year. In a bi-weekly arrangement, the borrower makes 26 ‘half’ payments, which allows the loan [...]
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The Low Interest Rates Won’t Last Forever To everyone’s great relief, fixed mortgage rates have been extraordinarily low for the last year averaging between 4.75% – 5.25%. However, perhaps you remember the summer of 2008? Gas prices crested $4/gal, inflation was all the rage and home buyers were snapping up 6.5% mortgage rates like they [...]
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The Homeowner’s Parting “Remarks” If you do not see the video above Click Here. We’ve seen it all and we’re still seeing it, the trashed foreclosure. Occasionally, the owners have just walked away and left the home intact. Other times they take it out on the walls and strip the home bare. Recently, I had [...]
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Mortgage Rates Hit All-Time Low Levels Again! In case you haven’t caught the news, home loan rates have done it again, dropping to their lowest level…ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels. Yes, that means, go [...]
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First Time Home Buyer Tax Credit Expires Soon Attention potential First-Time Home Buyers!!! You have less than four weeks to close on your new home to get the $8,000 tax credit. Do not rely on an extension with possible additional benefits. Take what you know you can get now. Not what you could or could [...]
The Haunted Halloween Mortgage Rates Report The 4% rates have come back to haunt us this week. Or is that taunt us? For almost one week, the rates were in the 5% range. However, with a last minute inter-day rate change, an eerie ghost appeared on my rate sheet. I quickly snapped this photo of [...]
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There’s no place like 4%, There’s no place like 4% It appears as though potential home owners had their house land on the higher rates of 5% and reward them with some red ruby slippers to wish rates back down into the 4% range. But you better hurry and take advantage of the minor dip [...]
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Don’t Think We’re in the 4′s Anymore Toto Over the weekend a major tornado wreaked havoc on the mortgage industry. Analysts are certain of the cause, but while siphoning through the damage, on thing is certain. 4% interest rates have disappeared from this realm of reality. While we can only hope that these rates find [...]
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Financing after bankruptcy, foreclosure, short sale, deed-in-lieu
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Record Low Rates, Get What You Need "You can’t always get what you want, but if you try sometimes, well you just might find, you get what you need." – Rolling Stones What does that have to do with this week’s mortgage rate report? Well, funny you should ask. I have heard from a very [...]
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Finance Barbie: Fake Currency Included Party Dress & Yacht Sold Separately Several days ago I was crossing the state in my car. While listening to the radio I overheard a report of senior vice president, banking executive who had “borrowed” a bank owned home in Malibu, California for her own personal use and entertainment. On [...]
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The Banks Ran Me Around For Two Years and One Half Years Two and one half years with no payments made to the bank, no response from the bank, no foreclosure, no loan modification, seven accepted offers at about $40,000 as a short sale on his home when he just needed and wanted an [...]
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Banks Get The Gold Mine Consumers Get The Shaft … and Jesus Loves You Sometimes actually getting the bank to give a loan modification doesn’t end with the borrower being getting their issues solved. Loan modifications are an emotional roller coaster. From the day a borrower finally gets a living, breathing human on the phone [...]
I am changing the format of this up a little bit to make it work with our site’s that we post for, so please work with us as we try this this out. Mortgage rates have been holding steady for the past couple weeks. Mortgage applications have increased. Is this a sign that the [...]
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Visit msnbc.com for Breaking News, World News, and News about the Economy If you can’t see the video above, CLICK HERE. This is a little ditty about how the real estate market really is. Many buyers of real estate worry that because the market is moving so swiftly they won’t get a great deal. [...]
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Conventional, Cash and FHA Financing Statistics Wondering how things get paid for in the Bonita Springs and Estero Florida real estate market? These are the number for July 2009 taken from the Sunshine MLS. This is the closed real estate sales only during that month. Cash is king, followed by conventional mortgages and [...]
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Years of Bonita Springs real estate home owner association dues go unpaid when properties close. Can your HOA afford the next ARM reset?
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Your $8000 SHIP has come in. But are you first in line? July 1, 2009 marked the new fiscal year for SHIP (State Housing Initiative Program), a state funded down payment assistance program for low-level income home buyers. However, this year the $161 million grant used to fund this program has been cut to $30 [...]
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The home valuation code of conduct HVCC and what it means to those getting or making loans.
Why HVCC just must loans and funding worse for consumers.
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What good is a pre-qualification or pre-approval if you’re not going to listen? When a buyer wants to buy a home, the Real estate agent they are dealing with usually asks right off the bat: “Have you been pre-qualified or pre-approved for a mortgage?” Why is this such an important questions? There are several things [...]
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Up To $8,000 Up For Grabs Since the first of the year, many first time home buyers have staked their claim in the Southwest Florida real estate market. Besides the low prices and historic low interest rates, the tax credit of up to $8,000 has been a huge motivator. There are still folks on the [...]
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Get The Good Rates or Pay The Toll I am stealing that line from Neil Cavuto of Fox Business Network. In a recent broadcast of Fox News, Cavuto mentioned how someone asked him about mortgage rates. The person was hesitant to buy a new house because mortgage rates went back up. Cavuto asked him what [...]
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Mortgage Prequalification VS Mortgage Approval OK, by now most Consumers realize that they should have financing in place before even starting to look for real estate – so I won’t beat up on that topic any more! (BTW – even if you’re not a first time buyer take a look at First Time Home Buyers [...]
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Congratulations! Your mortgage Was denied Many people in today’s market are hesitant to apply for a mortgage, whether it be a purchase or refinance. They are scared, or more so embarrassed, about the possibility of being denied for the loan. However, those that are denied for a mortgage are one step closer to getting approved [...]
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Are you too late to the home buying or refinancing game? Some people still think that things are going to get better. So I decided to hold off one week on writing something, so this way I could write on what did happen. As they say, “Hindsight is 20/20.” Now, there is no arguing that [...]
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Mortgage Rates Hit 5 Year High This week it is projected that mortgage rates will reach a 5 year record high. Thanks to declining markets, credit lending guidelines tightening down, banks going out of business or merging to avoid bankruptcy, and many other economic factors, potential homeowners will now be facing an even more difficult [...]
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The Fleecing of American Home Owners If you’re a home owner fortunate enough to have a job and a home without a mortgage or a least reasonable payments on your home watch and learn what someone in dire straights has to go through to get a loan modification. It’s an abomination that the banks are [...]
USDA 100% Financing Gets An Income Facelift Effective Monday, April 20, 2009, the income eligibility guidelines for USDA 100% guaranteed mortgage loan financing will be changed. The change, unlike most changes in our current mortgage industry, is for the better. So what is the change?… Higher income limits in bracketed tiers versus the original per [...]
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Bonita Springs Refinance Rates Still Below 5% Recently, President Obama talked about the record low interest rates available for home loans and how this is a great time for millions of homeowners to refinance. Quite a few news sources criticized him for sounding too much like a salesman – but hey, they have to have [...]
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Foreign Buyers Mortgage Guidelines One of the questions home owners ask their agent when they list their home is “What about foreign buyers?” Ah, yes, the foreign buyer’s whose money is worth gobs more than American currency after conversion. The foreigners simply must be snapping up real estate hand over fist just to take advantage [...]
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Mid Week Mortgage News Alert Two weeks ago, President Obama introduce his plan to stave off foreclosures by giving incentives to banks to help homeowners that are not currently in default lower their payments and take advantage of lower rates. Today, that plan was approved and rolled out by Fannie Mae through its Home Affordable [...]
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HomePath Mortgages – What You Need to Know Earlier in the month, I discussed the new Fannie Mae mortgage loan program, HomePath : no mortgage insurance, no appraisal, low down payments, and contributions up to 6% of the purchase price. Now that the program has been running for a couple weeks, I am going to [...]
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Should You Refinance the Mortgage on Your Bonita Springs Real Estate? That’s a very common question and the basic answer is: If you can save money, then yes you should. BUT- To arrive at the conclusion that you will actually save money, you’ll have to look at several things: #1 How much will it cost to [...]
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Truth in Lending | Good Faith Estimate ‘Transparency’ is one of those terms that gets thrown around a lot in the mortgage world these days. It’s actually pretty simple – you as the Client should be able to see everything that’s going on with the home loan that you are getting for your purchase (or re-finance). Nothing [...]
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USDA Rural Land Development Loans You have another choice for financing property in Florida – have you heard of USDA mortgages? Most people aren’t familiar with that program- We’re all bombarded by Freddie, Fanny, FHA, VA, etc – but USDA financing is alive and well and available in a much larger area then you might [...]
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