Home Buying in Delray Beach>Question Details

Dunstan Geor…, Home Buyer in Delray Beach, FL

I have pre-approval for an FHA loan on a 390k home price.FICO=673 On the high side, my costs will be 10% of price. Is this my best financing option?

Asked by Dunstan George, Delray Beach, FL Tue Nov 20, 2012

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6
Hi, Dunstan,
Based on what you wrote, you may have other financing options that you would like better.
You can find my trusted mortgage brokers and other free valualble information at
http://www.BUY-SELL-RENT-FLORIDA.com. Call Your "Go-To" Delray Beach Real Estate extpert
Julie Rosenthal at (561)827-6789 or e-mail Julie at julier6789@gmail.com
Property Brokers International
1 vote Thank Flag Link Tue Nov 20, 2012
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Dunstan,

No other Lender, Mortgage Broker or realtor is going to educate you like this or help you save this much…

On a $330,000 listed property, the equity in the property giving to ANY buyer’s agent who opens the door and writes a contract is 3% = $11,700.00!!

In Good Faith Effort to actually earn your business, my realtor partners will give you back up to $7,000.00 of YOUR otherwise Forfeited Equity in a REALTOR REBATE to pay your closing costs!

Florida Realtor Rebates: click here to view Google search (3,100,000 plus results)
http://www.google.com/#hl=en&tbo=d&sclient=psy-ab&am…


SIMPLE TWO STEP WAY TO GET YOUR BEST OVERALL DEAL:

STEP ONE:
contact any realtor you think you like and listen to what they say they’ll 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, I’ll present my best purchase strategy, show you what my realtor partners can do for you. Then compare to see which team offers the best purchase strategy and your best overall deal.

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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
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404

Prior Service U.S. Marine Corps
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1 vote Thank Flag Link Tue Nov 20, 2012
Dunstan,

Please send me your Good Faith Estimate and fees quote and I will review it to ensure you're getting the best loan possible. I will also provide you with a competitive quote.

With a 673 score, FHA is probably your best option, however we can most likely structure your loan so that you get a credit to cover all or most of your closing costs.

The bottom line is: After having a brief conversation about your goals, I can help you structure your loan in the manner which is most beneficial to you.

You can call my office at 561-314-4800 and we can do the consult by phone, or you can come into my office which is only a couple blocks south of Linton in Delray Beach.

OR You can email me at Msomerville@MyLoanGenius.com
0 votes Thank Flag Link Tue Nov 20, 2012
Hi Dunstan,
You may also want to look into a conventional loan with 5% down. Your Premium Mortgage Insurance will likely be less than an FHA loan.
If you need a mortgage broker referral, I would be happy to send you one. The mortgage broker I work with is really good at explaining the mortgage process in detail and all the different loan options.

I'm a realtor in the Delray, Boca & Boynton area. If you need any assisitance finding a home, I would be more than happy to help.

I've lived in the Delray area for over 15 years and been a full time realtor for 10.
Please visit my website: http://www.MovingSeaside.com

Stephanie Feinzilberg
Remax Services
561-289-9255
Stephanie@movingseaside.com
0 votes Thank Flag Link Tue Nov 20, 2012
Dear Dunstan,

You have to carefully evaluate the total costs of any loan. I have always been a strong believer that if you can qualify for a conventional mortgage with 20% down and eliminate the need for Private Mortgage Insurance this is your best move. However, there are other considerations and loan types. While the costs of FHA mortgages can be high you also will probably qualify for a better rate so you have to look at the big picture. Fannie May has their HomePath mortgage where you can get low down payments, no required appraisal and no PMI but be careful as they are pricing some of their assets higher than market value. Your FiCO score is OK but not great and puts you in the 42nd percentile which also will affect the rate you qualify for.

I have amazing mortgage professionals that I work with and if I can be of assistance with any of your housing needs throughout Palm Beach County please feel free to contact me and we can discuss your particular situation in greater detail.The best thing you can do is locate a qualified Realtor who can properly assist you in locating good opportunities and be ready to act quickly when the right opportunities present themselves. I know the Delray market well and am happy to assist you in any way that I can.

Best of luck and if I can offer anything additional please let me know.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"


Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Tue Nov 20, 2012
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Borrowers can do MUCH BETTER!

Contact me asap after reviewing the below

Response from a retail Bank Rep. after I asked her how many of the below programs they can offer... Honestly Steve, after reviewing them, I don’t think we can do any of these. We are pretty vanilla, Straight FHA VA conventional. I will keep your flyer and if I run across anyone we can't help I will send them your way. thanks

1) 100% LTV- USDA/12 mo. into Chapter 13 BK is OK
2) 100% LTV- VA/can pay off debts on purchases too
3) 99% LTV- FHA

4) 97% LTV- No PMI/MI and AVOID the 1.75% FHA FEE
5) 95% LTV- No PMI
6) 95% LTV- CONDO purchase

7) 90% LTV- No PMI-2nd Home
8) 90% LTV- JUMBO w/cc
9) 85% LTV- NO PMI to Super Jumbo
10) 80% LTV- Invest. Prop.



STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com

11) 80% LTV- FIX n’ FLIP Invest. Prop.

12) 80% LTV- NEW- Stated Income Alt

13) 75% LTV- NEW- Foreign Nationals- Stated Income Alt

14) 75% CLTV-NEW- after Short Sale, BK or Foreclosure

15) 70% LTV- Soft and Hard Money -Stated Income Alt



17) 55% LOT/VACANT LAND LOANS (by case basis)


COMMERCIAL PROGRAMS (many programs available nationwide)


Steve McRory

Pro Option Mortgage/Florida

http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404

Prior Service U.S. Marine Corps
========
0 votes Thank Flag Link Tue Nov 20, 2012
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