E Mortgage Blog
-
Jumbo Loans, New Programs for the Current Market!
Posted Under: Home Buying in Boca Raton, Financing in Boca Raton, Credit Score in Boca Raton | May 16, 2011 4:15 AM | 1,336 views | No comments
As you know, E Mortgage Management has long been known for excellent service and attention to detail. Just like you we have built our business on relationships. To make sure that customer needs are being met, representatives like myself are continually updated and trained on new products that can help you. We are committed to giving you the kind of service that you need and expect.We have just added new credit products to assist Jumbo buyers qualify for our mortgage products that you’ve been asking for.
We encourage you agents to look at your new and past leads for consumers that did not or could not qualify for a Jumbo loan.
•The Jumbo Fixed product is now available.
Highlights of this product are as follows: 15 and 30 year fixed amortization
Single Family Owner Occupied only
Purchase and Rate/Term Refinance up to 80% LTV, max loan amount $2 million with 680 credit score, $1 million with 660 credit score , to 2- 100MM 720 and up, 720 & up 90% ltv to 2 MM Possible for certian terms and conditions (Bsed on each borrower qualifications).
Cash Out Refinance up to 80% LTV, max loan amount $1.5 million with 720 score
Market upgrade of 5% LTV/CLTV applies with specific criteria
Max DTI 45%
Liquid reserve requirements apply depending on DTI and loan amount
Great for Our S & SW Florida Market
I look forward to assisting you to sell more homes.
As always you can contact me with questions or to prequalify a client
Call me at 239- 580-9977 or 561-210-3000 anytime 7 days a week.
Or apply now at www.premiermortgagestore.com -
Buyer Donts! Things to avoid before buying a home
Posted Under: Home Buying in Boca Raton, Financing in Boca Raton, Credit Score in Boca Raton | May 16, 2011 3:51 AM | 1,435 views | 2 comments
Things to avoid before buying a home
Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible:
-
Don't make an expensive purchase OR ANY PURCHACE ON CREDIT. It may be tempting to order that new sofa for your soon-to-be living room, but its best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, or vacations until after the closing. Financing that furniture with a store credit card or even one of your own credit cards could jeopardize your credit worthiness during the time it means the most. Using cash to purchase big items can also create a problem because many banks take into consideration your cash reserve when approving your mortgage.
-
Don't get a new job. Lenders like to see a consistent job history. Generally, changing jobs will not affect your ability to qualify for a mortgage loan - especially if you are going to be making more money. But for some people, getting a new job during the loan approval process could raise some concern and affect your application.
-
Don't switch banks or move money around. As your lender reviews your loan package, you will likely be asked to provide bank statements for the last two or three months on your checking accounts, savings accounts, money market funds and other liquid assets. To eliminate potential fraud, most loans require a thorough paper trail to document the source of all funds. Changing banks or transferring money to another account - even if its just to consolidate funds - could make it difficult for the lender to document your funds.
-
Don't give a good faith deposit directly to the seller in a FSBO purchase. As a rule, your good faith deposit belongs to you, not to the seller, until the deal closes. Your FSBO seller may not know that your good faith funds should be applied to your expenses at closing. Get an attorney or other neutral party who can hold the deposit or put it in a trust account until you close on the home. Your purchase contract should dictate to whom the funds go should the transaction fall through.
-
Don't disregard your lenders requirements. You may have been pre-approved for the loan but your work with the lender is far from over. In order to process your loan, you need to meet certain requirements. Your lender will need copies of your bank statements, W2s and other paperwork. It is up to you to get it to him or her as soon as possible. Failure to submit certain qualifying documents could cause you to lose your loan and the financing you need to buy your home.
Call us or visit us at www.premiermortgagestore.com
-
-
Buy in Boca and Palm Beach Real Estate! Prices are at or near bottom...bound to rise tomorrow!
Posted Under: Home Buying in Boca Raton, Financing in Boca Raton, Credit Score in Boca Raton | May 6, 2011 8:58 AM | 473 views | No comments
By Jennifer Susanne Sommers Hi All, interesting article in Sun Sentintel Today
www.AgentBoca.com
561.819/2958
By S. Mitra Kalita, Dow Jones News Service
Buyers in markets around the U.S. are snapping up homes in all-cash deals, betting that prices are at or near bottom and breathing life into some of the nation's most battered housing markets.
Cash buyers represented more than half of all transactions in the Miami-Fort Lauderdale area last year, according to an analysis from real-estate portal Zillow.com. In the fourth quarter of 2006, they represented just 13 percent of deals. Meanwhile, downtown Miami prices rose 15 percent in 2010 from a year earlier, according to the Miami Downtown Development Authority.
Nationally, 28 percent of sales were all-cash transactions last year, according to the National Association of Realtors. The rate was 14 percent in October 2008, when the trade group began tracking the measure.
Richard Stoker, a retired sales executive, recently plunked down cash for two condominiums in Miami Beach, and plans to close on one more in coming days. He loves the complex's ocean views, four swimming pools and activities such as yoga and Pilates.
But what also motivated the purchase, said the 73-year-old, was that "the prices were just irresistible. Florida's been hit pretty hard." To pay the $1.8 million, $1.2 million and $1 million prices on the condos, Stoker and his wife, Jane, cashed out of some financial investments and sold a Roy Lichtenstein painting and an Alexander Calder mobile.
Some of the cash purchases reflect a tight lending environment, where even people with good credit and ample down payments are sometimes turned away for conventional borrowing.
"The rates are great but the underwriting is brutal," said Henry Schlangen, an agent with real-estate firm Pacific Union International who buys and sells for clients, mainly in Napa Valley, Calif.
"They hang these people upside down and shake them till they see what falls out of their pockets. So people are buying with cash and maybe they'll 'refi' later."
Nationally, it isn't clear whether prices have bottomed. The Case-Shiller index of housing prices in 20 cities showed a steep decline in prices until 2009, when they appeared to bottom and began to trend upward. But in the second half of last year, prices began falling again. A Zillow index, meanwhile, never noted the uptick.
Since mid-October, Canyon Ranch in Miami Beach, the development Stoker bought into, has sold 35 units, with a third of the buyers from overseas and many others retiring from the Northeast.
The Stokers have a home in Potomac, Md., but spend most of the year in Florida. Richard Stoker doesn't plan to rent out any of his new properties, saying he and his wife will live in one with two dogs, his son might live in another and the third will house an older dog and guests
Dont Forget Homepath 3% down 3.5% Toward closing costs thru June 30th, market clearing and prices will rise!
www.premiermortgagestore.com
Carl Ashton Mortgage Loan Originator NMLS MLO ID # 247293 E Mortgage Management, LLC 7601 N Federal Highway Boca Raton FL 33487 Phone: Direct:561-210-3000 Mobile: 239-580-9977 Fax: 866-630-4085
-
Want to buy in Boca Raton better buy now sales up 20%! Market clearing out FAST!
Posted Under: Home Buying in Boca Raton, Home Selling in Boca Raton, Financing in Boca Raton | May 5, 2011 4:20 AM | 512 views | No commentsBoca Raton Summary
Average price per square foot for Boca Raton FL was $120, a decrease of 23.1% compared to the same period last year. The median sales price for homes in Boca Raton FL for Jan 11 to Mar 11 was $153,750 based on 1,090 home sales.
Compared to the same period one year ago, the median home sales price decreased 28.5%, or $61,250, and the number of home sales increased 20%. There are currently 3,658 resale (compared to 5148 same time last year) and new homes in Boca Raton on Trulia, including 1 open house, as well as 2,141 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Boca Raton FL was $715,694 for the week ending Apr 27, which represents an increase of 0.4%, or $2,606, compared to the prior week.Carl Ashton Mortgage Loan Originator NMLS MLO ID # 247293 E Mortgage Management, LLC 7601 N Federal Highway Boca Raton FL 33487 Phone: Direct: Mobile: 239-580-9977 Fax: 866-630-4085
Or Call Direct - 561-210-3000
www.e-mortgagelending.com
www.premiermortgagestore.com -
Boca Raton Market Summary!
Posted Under: General Area in Boca Raton | June 22, 2010 4:47 PM | 297 views | No commentsBoca Raton Summary
Average price per square foot for Boca Raton FL was $153, an increase of 9.3% compared to the same period last year. The median sales price for homes in Boca Raton FL for Mar 10 to May 10 was $204,500 based on 953 home sales. Compared to the same period one year ago, the median home sales price increased 2.5%, or $5,000, and the number of home sales increased 17.7%.
There are currently 3,543 resale and new homes in Boca Raton on Trulia, including 1 open house, as well as 1,847 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Boca Raton FL was $762,344 for the week ending Jun 16, which represents a decrease of 2.3%, or $18,211, compared to the prior week.
-
Looking for a home loan in the Boca Raton area?
Posted Under: Home Buying in Boca Raton | June 15, 2010 6:47 AM | 267 views | No commentsLooking for a home loan in the Boca Raton area?
You’ve come to the right place!When you decide to buy a home or refinance a mortgage in Boca Raton or the surrounding areas, your search for a home loan or mortgage should start and end here. With so many lenders to choose from in the greater Boca Raton area, and nationally, you need to choose one you can trust to find the mortgage loan that’s best for you.
Sure, there are dozens of big bank mortgage lenders nationally, but you need a lender in Boca Raton. Why? Because we know Boca Raton and the surrounding areas of Palm Beach, Martin, Hendry, and Broward counties. We know the local REALTORS®, appraisers, inspectors, and so much more. We also have state-of-the-art technology that makes the loan process as easy and fast as possible, all while delivering personal customer service that can’t be beat. Don’t gamble your family’s largest investment with a big name lender that may not know Boca Raton. Choose us, the Boca Raton mortgage and loan specialists!
We serve the following areas with home loans and related services:
- Palm Beach County
- Martin County
- Glades County
- Hendry County
- Broward County
- Delray Beach
- Boynton Beach
- Gulfstream
- Lantana
- Manalapan
- Boca Del Mar
- Boca Pointe
- Hamptons at Boca Raton
- Mission Bay
- Sandalfoot Cove
- Whisper Walk
- Avalon
- Boca West
- The Polo Club
- West Boca
- Lake Worth Beach
- Wellington
Home loans or mortgages in Boca Raton
We’ll help you find the perfect home loan or mortgage.
Refinance loans, or refinancing your current home in Boca Raton
We help Boca Raton families lower their mortgage payments and/or lock in lower interest rates for their home loans every day.
Home equity loans
We can help you draw from home equity for home improvements, school or medical expenses, a family vacation, and any other reason under the sun!
Bridge loans, jumbo loans, reverse mortgages and so much more!
No matter what type of home loan you need, we’re ready to help.
We will give you the personal attention you deserve and treat you as a valued customer. Give us a call or apply online now!
Boca Raton Resources:
- City of Boca Raton
Official website for the City of Boca Raton. - Boca Raton Chamber of Commerce
- Education
Complete directory of Boca Raton schools. - Boca Raton demographics
Phone: 239-580-9977 Cell: Fax: 954-568-7877 E-mail: premiermortgagestore@live.com
Premier Mortgage Store 3322 NE 33rd St Ft Lauderdale, FL 33309 -
Boca Raton Market Summary 4/23/2010
Posted Under: Home Buying in Boca Raton | April 23, 2010 12:50 PM | 351 views | No commentsAverage price per square foot for Boca Raton FL was $156, an increase of 8.3% compared to the same period last year. The median sales price for homes in Boca Raton FL for Jan 10 to Mar 10 was $215,000 based on 854 home sales. Compared to the same period one year ago, the median home sales price increased 6.4%, or $13,000, and the number of home sales increased 39.3%.
There are currently 3,420 resale and new homes in Boca Raton on Trulia, including 5 open houses, as well as 2,006 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Boca Raton FL was $808,969 for the week ending Apr 14, which represents an increase of 0.2%, or $1,920, compared to the prior week.
http://www.goldstarmortgageflorida.com/BocaRatonExperts
For more Boca Information call the Boca Experts at 561-210-3000 or visit:
