Buying Florida

1. Regular FHA where you can put down 3.5% have lower credit scores, higher income debt ratios
2. FHA203k - Mortgage you can do with an added feature of having Home improvements where you buy a home and get things done like a new roof, air conditioning, etc ., and have it all in one.
3. I am going to catch you on this one, did you know that Reverse Mortgage is an FHA?
So really 3  different types of vehicles that can get you into a home or get home improvements included in the financing or a Reverse Mortgage for the elderly that has no mortgage payment and help subsidize your retirement.

The Government did an incredible job looking at the various ways to help buyers get into a home.

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The Gov't is printing 1 trillion every 100 days, and the costs of everything are out of control. The time will come when they will be printing a trillion every 30 days. Credit cards, car loans, and student loans are at unprecedented levels
is it time to refinance your home to save money and then do another refinance as a rate term when the pivot happens at some point in the future
the cost of everything is going up and not stopping and you will see inflation continue to gain ground once again. Time to put the house in order with a refinance to consolidate debt.
A phone call or an email away to go over your present situation and see what makes sense with the present home values

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Depending on where you live there is an opportunity in certain areas that you can get $2,500 towards the closing costs. You also get a lower rate and monthly PMI. Programs open up to you where there is down payment assistance and also the 1% down program available.
I am seeing more and more first-time home buyers coming out now and this is information you need to know. Yes, home prices are higher and rates as well. But if you have these programs available and the payment is affordable then the probability of refinancing down the road is in your favor and if inflation continues to go up so will home prices.
Maybe it is the right time to buy a home now?

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Rates are moving up now and several factors could be contributing to it, the 1 trillion dollars that the gov't is printing every 100 days could be inflationary. so what I see happening is there will have to be an event that happens to drop rates like we experienced in 2020. We will be paying 1.6 trillion in interest expense annually starting at the end of this year and are said to grow to 3 trillion annually next year. I say rates will have to come down in order for the Gov't to pay the interest expense, kicking the can down the road so to speak. We will have an opportunity to refinance the higher rate we have on our home and also refinance all the credit card debt, installment loans, car loans, and even student loan debt. The probability is great sometime down the road. Continue to watch the videos and when rates do make a significant drop will let my viewers know. Then it comes down to what is the cost vs the savings on a refinance. Opportunities will come just the timing not sure about.

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Competitive Interest Rates: VA loans often offer competitive interest rates compared to conventional loans, making them an attractive option for eligible borrowers.

Flexible Credit Requirements: VA loans typically have more flexible credit requirements compared to conventional loans, making them accessible to borrowers with less-than-perfect credit.

Loan Limits: VA loans do have loan limits, which vary by county and are set by the Department of Veterans Affairs. Borrowers can still use a VA loan for a home purchase that exceeds the county loan limit, but they may need to make a down payment for the portion of the purchase price that exceeds the limit.

Assumption: VA loans are assumable, which means that if a borrower sells their home, the buyer can take over the VA loan if they are also eligible for VA loan benefits. This can be an attractive feature when selling a home.

Refinancing Options: VA loans offer various refinancing options, including the Interest Rate Reduction Refinance Loan (IRRRL), also known as the VA streamline refinance, which allows borrowers to refinance their existing VA loan to obtain a lower interest rate with minimal paperwork and no appraisal in most cases.

Property Requirements: VA loans have specific property requirements, including minimum property standards to ensure the home is safe, sanitary, and structurally sound.

Preapproval Process: Borrowers interested in obtaining a VA loan should begin by obtaining a Certificate of Eligibility (COE) from the Department of Veterans Affairs. Lenders may also require additional documentation for loan approval.

Overall, VA loans can be an excellent option for eligible veterans, active-duty service members, and their families to achieve homeownership with favorable terms and benefits.
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With More homes going on the market, people losing jobs and the cost of everything going up, when a home comes on the market it may need a
New Roof, A/c, floors, kitchen, and or bathroom. With an FHA 203k or a Conventional renovation loan, you can have that done when buying the home.
An opportunity to include that in the mortgage so you do not have to do the out-of-pocket expense. Maybe the home will not pass inspections and this way you can buy your home and get the work completed.
You must have a licensed contractor who is insured and bonded, the first thing is to get them approved with the lender. Then when the appraiser goes to appraise the home they have your contractor's bid looking at the after-value. At closing the seller gets their funds and the lender has the escrowed funds ready to pay the contractor once the work is done.
Rates are usually a .25% higher and there are a few more fees with inspections to check and make sure the work is completed.
Let me know how I can help you

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You have Conventional Mortgages, FNMA/FHMC, FHA, VA, Reverse Mortgages, Bank Statement loans, DSCR, Reverse Mortgages,  and 1099 mortgages.
Depending on your particular situation, could be a choice based on
credit scores, income, funds to close
Buying a home using Bank statements to qualify for a mortgage
Buying a home using a 1099 only to qualify for a mortgage
Using rental income to qualify for a mortgage
Or being a first-time home buyer with just 1% down to purchase a home

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What if you refinanced your lower-rate first mortgage into a higher rate but consolidated all of your debt into one low payment. Getting rid of credit cards, car loans, installment loans, and student loans. What would your savings be a month and how much would you save? Then if property values were ever to plummet and rates came crashing down. Just go back to 2007 when we were able to refinance everyone on the HARP program. I just break things down to worse-case scenarios and how you can stay ahead of the game with your finances no matter what.

I think it is  time to get the house in order and save money, doesn't seem like food , medical or anything is going down but instead still going up

Maybe everything we are told is not exactly correct


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First-time homebuyers put down 1%, and the lender gives you 2%  towards the down payment, no strings, and no liens. You have 3% down and now work on getting the seller to pay closing costs of up to 3%.
Working on a loan right now where the purchase price is $238,000,  the 1% down is $2,380 the lender is giving $4,760 and the seller is paying 6,000 of closing costs. so the remaining closing costs are 2,000.
The total out-of-pocket for the buyer is 4,380 for this home
How much does it cost to rent after paying first, last, and deposit?
You must be below the median income and a first-time homebuyer

Pretty exciting to put $2,380 for the down payment and $2,000 for closing costs to finally own a home. No second liens  just one mortgage at 97%

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Bridge loan to acquire, renovate, and stabilize a multifamily investment property. When the rents are under the market and the units are outdated. This program allows you to acquire a property below market value and make cosmetic upgrades to increase rents.
how about capitalizing the fit-up of retail/office investment property?
We also have flip-fix loans for residential.
6 to 24 months
loan amounts from $250k to 20 Million
Interest only
1 to 3-week closing times
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