I work with Prudential Tropical Realty. We have a sister company Capstone Mortgage which is partnered with Wells Fargo. I just got a e-mail today...
Capstone Home Mortgage is ready to lend a hand. Our mortgage company--Capstone Home Mortgage--is powered by Wells Fargo, the only U.S. bank with the highest credit ratings from Moody's and Standard & Poor's. According to a recent article in National Mortgage News, the company originated $66 billion in home mortgages during the first quarter, a 7% increase from the first quarter of 2007. Its application pipeline was also $61 billion, a 42% jump from the fourth quarter. "First quarter figures likely mean that as other residential lenders stumble and come under financial and liquidity pressures, the San Francisco-based Wells could be poised to gain significant market share." In fact, Wells Fargo is expected to become the nation's largest home lender.
This should give you peace of mind when buying a home. Recommend a opinion from your in-house mortgage consultant and explain the benefits of The Prudential Promise. Give your clients, the Power of Partnership."
They have FHA loan specialist to assist you.
Remember, get at least 2 opinions from mortgage companies. I'm amazed at how many people will drive all over town to save $200. when buying a car but only get one good faith estimate for a mortgage that cans cost $1000.'s too much.
I would use BofA They have a program called BPP free for a year. It is a great product. I can help explain this to you if you email email@example.com
Sunbelt Mortgage has been giving us some updates on FHA loans so they may be a good place to start. You can contact Joan Marie at cell #941-730-2972 if you'd like to get prequalified and "educated" on the pros and cons of an FHA loan. There is no obligation to use her but at least it will give you a good feel for what you can expect.
I did mostly FHA loans when I sold up in Pennsylvania. But there have been a great any changes to the rules since then. I found the following sites which may be of assistance:
Please let me know if I can assist in any way -- more information, contacts, etc.
Jan Petters - Team Vitale
Coldwell Banker Residential Real Estate
423 St. Armands Circle
Sarasota, FL 34236
Check with a few different lenders and compare them side by side. If you are working with a good agent he will also provide you with lenders who have done a great job in the past. If you are not sure ask for a reference. Good luck
Attend any meeting of realtors where the topic of mortgages comes up, and you'll hear a groan rise from the crowd when BofA is mentioned - they're causing more delays and deals to fall through than any other bank (at least here in Massachusetts). As a matter of fact, in my firm, if a client comes to us with a BofA approval and they insist on sticking with them, we'll tell the client we can't work with them.
Hopefully I'm not too late to save your soul.... :-)
Email me if you are interested and I can e-mail you a Good Faith Estimate by the end of the day.
National Loan Officer