Home Buying in Tampa>Question Details

Needinfo, Home Buyer in Clearwater, FL

Would it be better for a mortgage to go with this loan originator from a mortgage comp. that I haven't hear before or go to the Big banks

Asked by Needinfo, Clearwater, FL Wed Jan 2, 2013

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Answers

8
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Gina Harris from Iberia is awesome and she knows what she's doing!

I've also referred clients to her too in the past as well.

Go Gina! Go Gina! Go Gina!!

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1 vote Thank Flag Link Thu Jan 3, 2013
NeedInfo, Selecting a mortgage broker can be an overwhelming feeling. What is important, is that the mortgage broker has been in the business a long time, monitors the transaction from start to finish and can close loans.

Steve from Pro Option is an excellent mortgage broker. He has responded to your question. Why not contact him to proceed with your pre approval?

Best regards,

Lynn Brock
Brock Realty Inc.
941.313.1234
http://www.brockrealty-inc.com

If you would like to search the MLS like an agent, visit our website and sign up for your free Listing Book account. This powerful search program allows you to set up your personal homefinder criteria and save your favorite homes, follow recent solds all in real time! Find the home you’re searching for quickly.
1 vote Thank Flag Link Thu Jan 3, 2013
If an offer was received by a homeowner I was representing with ALL THINGS EQUAL but one offer was through a lender with a track record of closing on time and on budget, while the other was from 'Old Dead Bones Mortgage Company' who has no recognized history in the community, the latter offer would be at a GREAT disadvantage. Unknown lenders, or lenders with proven failure to perform such as Never Ever Banks of Clearwater Florida can wreck a deal through incompetence. It is difficult enough to close a deal without introducing a potentially renegade 'wildcard' lender.
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If you walk into the lobby of a BIG bank, you will have demonstrated yourself to be bereft of common sense. This is the action of the befuddled. Don't do it. Check out the grades of the big banks on http://www.BankingGrades.com Just enter you city or zip code. Will an "F" graded lender give you confidence?
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Be wary of lender or brokers whose business strategy includes usurping the money of others to pay benefits given to you. There IS a cost for this that you will pay.
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Finally, you will discover, the lowest cost lenders, hand down, will be credit unions. They have liberal enrollment requirements, but may have tighter lending parameters. You NEED to check them out.
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Enter your zip code or city and find a local lender who has a history of investing in the community through small business loans and mortgages. Select the "A" or "B" graded lender of your choice and make an appointment. Go to:
http://www.BankingGrades.com

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
1 vote Thank Flag Link Thu Jan 3, 2013
Also "shop" credit unions.

Here is a helpful website created by an Ivy League Professor and he offers excellent advise on how to "shop for a mortgage":

http://www.MtgProfessor.com

Also in Tampa Bay, Gina Harris with Iberia Bank can offer low rates and low "lender related fees", too. Iberia Bank also is an approved lender to get first time homebuyers up to $7,500 towards the downpayment and closing costs via the State of Florida Bond program. Not many lenders participate and some loan officers may say there is no money available but there is pretty much an unlimited supply. VA buyers do not have to be first time homebuyers.

There are income limits according to county and family size, to check to see if you're eligible:

http://apps.floridahousing.org/StandAlone/FTHBWizard/FTHBWiz…

Here is Gina's contact info:

Gina Harris
Mortgage Specialist
NMLS # 419423
iBERIABANK MORTGAGE COMPANY
3550 Buschwood Park Dr., Suite 295
Tampa, FL 33618
813-244-5685 cell
800-868-0337 fax

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
813.244.9898
http://www.SoldOnTampa.com
1 vote Thank Flag Link Wed Jan 2, 2013
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Do a test with Banks.

CUT AND PASTE- Send these loan programs to any Bank Rep and ask them how many of these can they do.

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 No 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
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0 votes Thank Flag Link Sun Jan 6, 2013
High volume/low fee smaller banks are best. You cannot touch the turn times in underwritering either. Call me, I'll handle it. 813 340 6223
0 votes Thank Flag Link Sun Jan 6, 2013
Hey there,

Each lender/ mortgage banker will have different qualities from a work ethic perspective and what type of loan products that are available to them. To find a quality work ethic and great service oriented person, you would really have to rely on a referral from someone who had a great experience.

From a loan product perspective, and would really depend on where the "bumps" are in your file. Some lenders may offer different options and be able to think "outside the box" to accommodate those "bumps" in your file.

Alma(below) recommended GINA HARRIS from Iberia Bank. We have worked with Gina previously and her team and they offer great service and great financing options. Start there and feel them out. Where ever you go, do forget to ask for your good faith estimate.
0 votes Thank Flag Link Thu Jan 3, 2013
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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 No 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 Thu Jan 3, 2013
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