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!Â 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!Â 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 --
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
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
$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.
$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 Mouthingthe
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
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.
FLORIDA MORTGAGE BROKER on Finding the RIGHT Realtor in
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
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
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