E Mortgage Blog

Available only on homes you make your primary residence and offers these benefits:

• Financing to fund both your purchase and light renovation
• Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate)
• Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
• No mortgage insurance*

Here is the process - Get preapproved

Search www.homesteps.com and find the home you are looking for.

Close on your new home! Its that simple!

Carl Ashton

Mortgage Banker

 

 

 

1605A Prosperity Farms Rd

Lake Park Florida 33403

Phone: 561-210-3000

Fax: 561-624-1764

premiermortgagestore@live.com

 

Our websites:

 

www.premiermortgagestore.com

Premier Mortgage Ft Lauderdale

Premier Mortgage Store Naples

Premier Mortgage Store Florida

Premier Mortgage Boca Raton

FHA Mortgage Store

VA Mortgage Store

USDA Mortgage Store

I just read this great post from Marsha.....

Around midnight every night I check for new listings, status changes on existing listings, back on markets.

DOWNTOWN WPB, FL CONDOS are going F A S T...Lots of savvy buyers are 'snappin-up' the deals...as soon as they get listed. 

AND EVEN MR. FLIPPER AND MS. FLIPPER  ARE BACK.  Buy at $129K...put right back at $189K...I sell it @ $185K cash...(not bad profit after expenses, not 2004 but a happy ending none the less)...right back on @ $249K...still a great deal compared to others listed.

REAL ESTATE IS ONCE AGAIN FUN !!!   YAAY !!!

Calls and emails come in from all over the world, "I want IN"...they say.  I consider myself the 'supreme matchmaker'...matching buyers with the tropical South Florida property that best suits them...the perfect suiter !!!

Inventory is shrinking.  The best goes fast. But I find more...and it goes..and  Don't wait...get IN."
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Same goes for financing get it now while you can still qualify and home prices are low, as you know when the market heats up it does really fast!

GET PRE Qualified and buy today!

You can even FHA or VA with seller consessions of up to 6% and have no out of pocket for closing costs!

Apply now!

As you know, Bright Green Home Loans 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 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 640 credit score , to 2- 100MM 720 and up, 720 & up 90% ltv to 2 MM Possible for certian terms and conditions.

􀂾 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 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.

Premier Mortgage Ft Lauderdale

Premier Mortgage Store Naples

Premier Mortgage Store Florida

Premier Mortgage Boca Raton

FHA Mortgage Store

VA Mortgage Store

USDA Mortgage Store

Tuesday's bond market has opened in positive territory despite stock gains and stronger than expected economic data. The stock markets are reacting favorably to this morning's only important data with the Dow currently up 40 points and the Nasdaq up 7 points. The bond market is currently up 14/32, which should improve this morning's mortgage rates by approximately .250 of a discount point.

August's Consumer Confidence Index was posted late this morning. The Conference Board announced a reading of 53.5 that was an increase from last month's reading and higher than analysts' forecasts. That is considered bad news for the bond market and mortgage rates because it means consumers may be more apt to make large purchases in the near future, fueling economic growth.

Later today, the minutes from the last FOMC meeting will be posted. There is a pretty good possibility of the markets reacting to them following their 2:00 PM ET release, especially if they show some divisiveness by its members. It will be interesting to see some of the Fed member's views on the economy and inflation and if they will hint what the Fed's next move may be. But this is one of those events that can cause significant movement in rates after its release or be a non-factor. I suspect that this particular release will cause a little movement in bond prices, but not enough to significantly affect mortgage pricing.

Tomorrow's only important news is the release of the Institute for Supply Management's (ISM) manufacturing index at 10:00 AM ET. This index measures manufacturer sentiment and is expected to show 52.9, which would be a decline from last month's reading of 55.5. A reading above 50 means that more surveyed manufacturers felt business improved during the month than those who felt it worsened. A larger than expected decline in the index would likely cause selling in the stock markets and lead to an improvement in mortgage rates tomorr ow.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

An overview of the loan process

Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity check.

There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? The first part you can get a rough idea of by using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information we give you a Pre-Qualification Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your realty agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at our website. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your realty agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.

You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're moving in! We're in the business of mortgage loans, you're not -- so we do most of the work. Doesn't that make sense?

Please visit www.premiermortgagestore.com for more information

The Down Payment The amount you have available for a down payment will affect what types of loans for which you can qualify. Down payments typically range from 3 to 20 percent of the sales price for the property. Tips for Accumulating a Down Payment Save Look for ways to reduce your monthly expenditures to save toward a down-payment. You could enroll for an automatic savings plan at your bank to have a portion of your payroll automatically transferred into savings. Most people save a couple of years for their down payment. Borrow the down payment from your retirement plan Check the provisions of your retirement plan. You can borrow funds from a 401(k) plan for a down payment or make a withdrawal from an Individual Retirement Account. Be sure you understand the tax consequences, repayment terms and/or possible early withdrawal penalties. Move You may be able to save additional funds if you can move into less expensive housing. Reduce other higher interest rate debt Paying off credit cards will initially reduce your savings, but the money you will save from higher interest rates will pay-off in the long run. Make a deal with the seller In some circumstances, it is appropriate to ask the seller to carry a second-mortgage to cover your down payment. Typically, you will pay a slightly higher rate for this second mortgage. Sell some investments Get a second job and save your earnings Skip a year's vacation Gift from Family Parents and other family members are often anxious to help children buy their first home and may have the means to give you a gift of money for a portion or all of your down payment.

Alternative Sources

No-down and low-down Mortgages FHA Loans The Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), plays a significant role in helping low- to moderate-income families qualify for mortgages. FHA assists first-time buyers and others who would not qualify for a conventional loan, by providing mortgage insurance to private lenders. Interest rates for an FHA loan are usually the going market rate, while the down payment requirements for an FHA loan are lower than conventional loans. The required down payment can be as low as 3 percent and the closing costs can be included in the mortgage amount.   VA Loans VA Loans are guaranteed by the U.S. Department of Veterans Affairs. Service persons and veterans can qualify for a VA Loan, which usually offers a competitive fixed interest rate, no down payment and limited closing costs. While the VA does not issue the loans, it does issue a certificate of eligibility required to apply for a VA loan.   Piggy-back Loans A second mortgage that closes with the first. Often the first mortgage is for 80% of the purchase price and the "piggyback" is for 10%. The home buyer covers the remaining 10% with their down payment. (Some lenders will write a second mortgage of 15% or even 20% of the purchase price.)   "Carry Back" Mortgage In the case of the seller "carrying back a second mortgage", the seller loans you part of his or her equity. In this scenario, you would finance the majority of the loan with a traditional mortgage lender and finance the remaining amount with the seller. Typically you will pay a slightly higher interest rate on the loan financed by the seller.

Housing Finance Agencies These agencies offer special loan programs to low- and moderate-income buyers, buyers interested in rehabilitating a home in a targeted area, and other groups as defined by the agency. Working through a housing finance agency, you can receive a below market interest rate, down payment assistance and other incentives. The primary mission of Housing Finance Agencies is to boost home ownership in targeted areas, among first-time buyers and those with little money for down payments. Most of these non-profit agencies were funded with state government seed money and now operate independently. Click here for a list of Housing Finance Agencies.

Documenting Your Down Payment Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan. Take extra care to document the sources for any monies to be used for the down payment or closing costs. Acceptable Down Payment & Closing Costs Sources Cash in a bank account Mutual funds / stocks / IRA / 401K Proceeds from the sale of another property Gift from an immediate relative

Click here to learn more about verifying your down payment, closing costs, income and debt.

Or apply now and have an answer in a few minutes.