Buying Florida

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The first half of 2022 was fast and furious
outbidding on each home
cash being king
then conventional and how strong conventional
then barely looking at FHA/VA
The secondhttps://www.ddamortgage.com/blog half slowed down dramatically
increasing rates, unaffordable homes with higher prices and higher rates
then a sliver of hope the last week in December
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loan application taken in 15 minutes
du/lp approval in 30 minutes
electronic signatures sent to you within the hour
secure email provided to upload documents
order appraisal if required
order title
you shop insurance
underwriting in 1 day
close in 3 weeks like easily done
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what will happen when the govt pivots?
the printing press will start up some time and what does that mean to you

refinances again at the rates you are locked in at now
sell and purchase a new home either to downsize or move up
refinance and consolidate debt, student loans, auto, etc.,
Take out a reverse mortgage and use it for your retirement and so many
different options there that can be used

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Have a Great holiday and Happy New Year!
what happens in 2023,  take the time to reflect on how to grow your business 
next year!
what will happen to interest rates? what new products will be there
what can you do to survive and thrive in choppy waters in your industry

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Didier Malagies nmls#212566
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Buying a home and not using all your cash
owning a home and using the equity to payoff off a mortgage, get a HELOC, or get monthly payments set up to help in your retirement years
With the volatility in the stock market, skyrocketing medical expenses, and food costs, is it time to use the equity in your home as a retirement vehicle
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rates are coming down for purchases
houses are starting to stay on the market
when the government pivots and prints trillions will inflation take off again?
is it time now to buy and get into a home

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So, the bottom line is that the line of credit reverse mortgage shares some of the features of the HELOC. It is a line of credit that borrowers can use to borrow against the equity in their home and they only accrue interest on the funds they borrow.
Unlike a HELOC, there are no payments due, the loan can never be closed by the lender because they made the arbitrary decision to stop making a line of credit loans (borrowers do have to occupy the home, pay taxes and insurance on time and maintain the house in a reasonable manner) and the amount available to borrowers grows over time based on a growth rate of the unused portion of the line.
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Rates dropped this past week is the Gov't going to change course on the rates going up?

The Gov't has an agenda and until they accomplish what they need to do, nothing will change until they achieve the goal of  lowering inflation

It will not happen until sometime next year when they do change course and we will be able to refinance the HELOC, Credit card debt, student loans, and auto

it will be an excellent opportunity  to get the house in order and get one low monthly mortgage payment

I am getting calls consistently daily on refinancing, but we do not want to touch the low rate you got a year ago. we want to do it when we have that low rate again

so nothing is changing until sometime next year

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need to get an interest only no closing costs loan on your home
you have a great low rate on your first mortgage now but could use some money to 
consolidate debt and get some cash with all the equity you have in your home
HELOC may be the answer until the rates come back down again
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Doing a 5-year or 7-year arm to help lower your mortgage payment
as well as the 2/1 buydown
there are options to help offset the higher interest rates we are experiencing at this time
With the intention of refinancing in the following year to a 30-year fixed-rate mortgage
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