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Mortgage Broker Gives Good Advice

Creative Loan Programs in Florida including the new Stated Income Alt

By Steve (888) 662-4404 | Mortgage Broker
or Lender in 33480
  • STATED INCOME ALT loans saving deals in Florida!

    Posted Under: General Area in Florida, Home Buying in Florida, Property Q&A in Florida  |  January 18, 2014 2:12 PM  |  824 views  |  1 comment

    If you're Self-Employed and have not tried to obtain a Mortgage loan since 2006, you're in for quite an awakening!

    Those of you who have gone to your bank to get a loan to refi or purchase since 2006, regardless of how good your credit is, regardless of how good you've paid in the past, you have been shocked to find how all that doesn't matter anymore!  If you're Self Employed and you've applied for a loan after 2006, you know exacty what I'm talking about!

    Whether you're a Self Employed Republican, Independent or Democrat, your #1 enemy is this Dodd Frank Act and Obama's Crushing and Crippling regulations!  If you're a Democrat or Independent who voted for Obama the second time, you're finding out all that... "Yes We Can"... has turned into ..."NO YOU CAN'T!"

    However, there are still options that will allow you to purchase or refi here in this over regulated 2014 mortgage market and it's using a Stated Income ALT loan program for Florida.

    To see the 2014 loan programs for Self Employed borrowers go to.....

    WWW.StatedIncomeALT.com   or   WWW.pro-option.com 

    Or call me to talk about your situation and options. 

    Steve McRory
    Pro Option Mortgage/ Florida
    Steve@pro-option.com
    888-662-4404
    nmls-204296
    Prior service: U.S. MARINE CORPS
    --
  • For Rocket Scientists and Brain Surgeons ONLY!

    Posted Under: Home Buying in Florida, Property Q&A in Florida, Investment Properties in Florida  |  December 8, 2013 5:04 AM  |  970 views  |  3 comments

    I'm always amazed at how realtors (ones I don't know, but deal with for the first time) ask me to make the Pre Approval letters for the lowball price they want to offer, then wonder why so many of their offers are not excepted!

    Here's why...

    Poor Mouthing your offer can make you lose the home!

    In today's market, where so many deals fail to close for every reason under the sun, if a Seller, Bank or Listing Realtor is trying to choose the offer that has the best chance of actually closing, which offer do you think they would accept?


    Example: $500,000 List Price


    Offers:

    1. $480,000 offer with a pre qualification letter for $480,000 (i.e. Poor Mouthing the Offer) and a $1,000.00 just written in the deposit line on the offer.

    1. $490,000 offer w/seller to credit $12k towards buyer's closing costs with a pre qualification letter for $750,000 with a copy of a deposit check of $15,000.


    Sellers, Banks and Listing Realtors would contract with offer #2, where the buyer can clearly afford the purchase, backing it up with a substantial Good Faith Deposit which shows they're serious buyers.  The Seller may net a little less on offer #2 but it's far more likely to close, and that's all that matters now days!



    The strategy of what's called Poor Mouthing the Offer, where buyers try to act as if they can barely afford their offer in effort to get a lower price is a Flawed Strategy for this market!  This is why many buyers lose bid after bid with their offer not even being considered and cut from the running early on.



    Sellers, Banks and Listing Realtors already assume that pre qualification letters are stretched to the max anyway.  Therefore, they look for the Sure Thing, the most solid deal that has the best chance of closing Period!  To take a chance on contracting with a buyer in this market that can barely afford the home to begin with is too much of a risk.


    Steve McRory

    Pro Option Mortgage/Florida

    www.pro-option.com

    steve@pro-option.com

    Ph: 888 662 4404

    Prior Service U.S. Marine Corps
  • Finding the RIGHT realtor in 2014

    Posted Under: Home Buying in Florida, Home Selling in Florida, Property Q&A in Florida  |  December 2, 2013 12:46 PM  |  966 views  |  1 comment
    FLORIDA MORTGAGE BROKER on  Finding the RIGHT Realtor in 2014

    As a Florida Mortgage Broker who has been in the business since the 90s, through the highs and lows of this rollercoaster called the Florida Real Estate Market, who has extensive experience dealing with realtors all over Florida, I can't stress to you how important it is to shop realtors in advance to find the Right One! 

    As you'll soon see, there are a lot of realtors in Florida who want your business, who all seem to claim they are the most experienced, knowledgeable, caring realtor in east of the Mississippi River, so shopping for the Right One can be overwhelming!  There are literally thousands of realtors to choose from in FL and most are good people who will do an Okay job, but as a 2014 buyer you want an your best overall deal! 

    They say that approx. 68% of consumers end up working with the first or second buyer's realtor/agent they contact.  Unfortunately, soon after many buyers feel they're committed to working with the wrong realtor, but feel obligated to work with that realtor throughout the buying process, all the while wishing they had shopped more realtors in advance to find that RIGHT ONE.

    So here's a quick test to help identify the Right One in advance.

    Find one who:

    1. treats you as if you are buying a $5,000,000 property

    2. is willing to disclose their good credit and scores over 700 with no Foreclosures, BKs or Short Sales

    3. has a smart phone, so they can answer all your calls and emails quickly throughout the process

    4. is a Real Estate Broker or Buyer's Agent who does not have to split the 3% commission points and CAN and is WILLING to offer REALTOR REBATES to buyers willing to get Pre Approved in advance

    Then, here's a simple 2 step way to get your Best Overall Deal 

    STEP ONE: Contact the realtors you think you like and listen to what they say they're willing to do for you. Then ask them to refer you to their very best Preferred or In-House Lender. Listen to their best purchase strategy and ask for their best written quote on an estimated sales price, on a TBD (To Be Determined) property address. 

    STEP TWO: Contact me AFTER you have complete Step One, I'll then present my best purchase strategy, show you what my realtor partners can do for you. Then you can compare to see which team offers the best purchase strategy and your best overall deal.

    I believe you'll be shocked at the difference you'll find with such little advance effort

    What my Realtor partners can do for my clients:

    http://www.trulia.com/blog/steve_31/2012/08/working_with_a_buyer_s_realtor_who_offers_realtor_rebate_or_buyer_s_agent_credit_can_result_in_a_massive_savings_for_bu

    What I can do:

    http://www.trulia.com/blog/steve_31/2012/07/2012_loan_programs_florida_inc_stated_income_1_day_out_of_ss_bk_or_fc

    NOTE TO CONSUMERS: shop multiple Lenders and realtors for your Best Overall Deal!

    Call me today, I actually answer and return phone calls.

    Steve McRory

    Pro Option Mortgage/ Florida

    steve@pro-option.com

    WWW.PRO-OPTION.COM

    Ph: 888 662 4404

    #204296

    Prior Service U.S. Marine Corps

    -----

  • Florida Mortgage - New 2014 Programs including Stated Income ALT

    Posted Under: Home Buying in Florida, Financing in Florida, Investment Properties in Florida  |  August 4, 2013 5:18 AM  |  2,240 views  |  No comments

    See programs below, then contact me to talk about how to minimize payments and reduce out of pocket costs



    100% LTV- VA & USDA

    99%  LTV- FHA (580 score @ lower LTV)

    95%
    LTV- NO PMI

    95% LTV- CONDO - NO PMI
    90% LTV- Second Home- NO PMI
    90% LTV- JUMBO- NO PMI

    85% LTV- Super Jumbo- NO PMI

    85% LTV- Invest. /Rental

    80% LTV- Foreign Nationals

    70% LTV- Manf. Homes over 90k


    STATED INCOME ALT-up to Super Jumbo


    90%
    LTV- Short Sale, BK, Foreclosure Forgiveness

    80% LTV- FIX & FLIP Invest. Prop.

    75% LTV- Foreign Nationals

    70% LTV- Soft and Hard Money

    COMMERCIAL PROGRAMS- 30yr amort.

     

    Go to: WWW.PRO-OPTION.COM or call 24/7 888-662-4404


    Steve McRory

    Pro Option Mortgage/ Florida

    steve@pro-option.com

    #204296

     

    Prior Service U.S. Marine Corps

    ====

  • Florida Mortgage- 90% LTV - Post Short Sale, BK, Foreclosure Forgiveness program

    Posted Under: General Area in Florida, Home Buying in Florida, Foreclosure in Florida  |  August 2, 2013 1:49 PM  |  2,301 views  |  No comments

    See program #12 below


    100% LTV- VA & USDA  

    99%   LTV- FHA (580 score@ lower LTV)


    97%  LTV- SFD or CONDO- NO PMI

    90%  LTV- 2nd/ Vacation Home- NO PMI

    90%  LTV- JUMBO- NO PMI

    85%  LTV- Super Jumbo- NO PMI

    85%  LTV- Invest. /Rental

    80%  LTV- Foreign Nationals

    70%  LTV- Manf. Homes over 90k


    STATED INCOME ALT-up to Super Jumbo


    90%
      LTV- Short Sale, BK, Foreclosure Forgiveness 

    80%  LTV- FIX nFLIP Invest. Prop.

    75%  LTV- Foreign Nationals

    70%  LTV- Soft and Hard Money

    75%  LTV- COMMERCIAL- Lite Doc- 4.00% range/25yr

    70%  LTV- COMMERCIAL- No Tax Returns- 6.00% range/30yr


     
    Steve McRory

    Pro Option Mortgage/ Florida

    steve@pro-option.com

    WWW.PRO-OPTION.COM

    Ph:888 662 4404

    #204296

    Prior Service- U.S. MARINE CORPS

    ====

  • Florida Mortgage- Stated Income ALT loans for FLORIDA 2014

    Posted Under: Home Buying in Florida, Foreclosure in Florida, Property Q&A in Florida  |  September 3, 2012 5:36 AM  |  3,828 views  |  6 comments
    Stated Income ALT loan programs: www.StatedIncomeAlt.com

    STATED INCOME ALT up to Super Jumbo

    90% LTV- Short Sale, BK, Foreclosure Forgiveness

    89% LTV- Super Jumbo- NO PMI

    80% LTV- FIX & FLIP Invest. Prop.

    75% LTV- Foreign Nationals

    70% LTV- Soft and Hard Money

    LOT/VACANT LAND LOANS
     

    Note: these Stated Income ALT programs are Not "No Doc" loans, borrowers must still show the ability to repay the loan, but are much more flexible in accepting alternative forms of income.



    Steve McRory .
    Pro Option Mortgage / Florida
    888 662 4404

    nmls-204296

    Steve@pro-option.com

    www.pro-option.com

    Prior service:  U.S. MARINE CORPS

    --

  • 97% LTV - CONDO purchase loan with NO PMI and closing costs paid!

    Posted Under: General Area in Florida, Home Buying in Florida, Property Q&A in Florida  |  September 2, 2012 10:01 AM  |  3,492 views  |  2 comments
    CLOSED: 
    97% LTV- Condo Purchase - NO PMI with closing costs paid for my buyer!
     
    Both Listing Agent and Buyer's Agent as well as other Lenders were telling my borrower that it was impossible, that it takes at least 20% down to purchase a condo in FL


    Steve McRory

    Pro Option Mortgage

    www.pro-option.com

    steve@pro-option.com

    CALL 24/7: 888 662 4404

    nmls-204296

    Prior Service U.S. Marine Corps

    =

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