There is a common myth out there in the mortgage industry that the Federal Reserve controls the mortgage rates. This myth is not entirely accurate. The way that mortgage rates are determined is by the activity in the 30-year treasury bond. The Federal Government controls 3 interest rates. With these rates that they have control […]
Did you know the state of Florida still has a huge problem with getting financing for condos? This is because Florida is the only state left in the entire country that is still subjected to these requirements that Fannie Mae and FHA put on us. A lot of times people feel like they need to […]
What is a clean energy assessment, and what pros and cons are associated with it? Is it better to use a clean energy assessment or a home equity line of credit? A person that is doing a clean energy assessment loan is looking to do improvements like windows, doors, roofs, and other things that help […]
Are you able to own two different homes with a VA loan? A VA loan is a mortgage loan guaranteed by the United States Department of Veterans Affairs. This program is exclusive to American Veterans, and current military members. A VA loan is very appealing since its purpose is to aid veterans in purchasing a […]
There has been much recent news coverage about the Federal Reserve, and the current interest rates. What does this all mean to the average homeowner? The Federal Reserve and the Federal Open Market Committee (FOMC) can only control two short term interest rates: The Discount Rate, and the Federal Funds rate. The discount rate is […]
Allow me to elaborate more about the current problems with condo financing in Florida. After the market crashed many years ago condos went down quicker than single family homes so Fannie Mae and all other lending types like FHA, VA etc. came in and put certain requirements as it pertains to condo financing. These requirements […]
A survey is a map of the perimeter of the property. This is important because it lets the buyer and the lender know whether there are any encroachments. An encroachment is something like a neighbor’s fence that was built on your property. This also will tell you whether there are any easements that utility companies […]
A home appraisal may be defined as a report that will calculate the value of your property. It does so by evaluating several different aspects, like the year it was built, the location, and the gross living space. If you buy a new home with a mortgage or refinance a current loan, an appraisal will […]
A Schedule E Tax Form is a tax schedule where someone who is either self-employed and owns a corporation or receives rental income reports his or her income. This form is used to report income or losses. A schedule E form does not only report income. You can also use it to report a net […]
You should always make sure your income was reviewed accurately. This is extremely important! Make sure that your loan officer has reviewed your tax returns and pay stubs before he or she prequalifies you-not just your W-2s but also your actual returns. Even if you are 100 percent sure your income is simple to figure […]
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Unlock the Secrets of Florida Mortgages. We’re excited to take your mortgage knowledge to the next level! With the ever-evolving landscape of real estate and financing, understanding Florida mortgages can be a daunting task.
That’s where Melinda comes in! With her expertise and passion, she’ll guide you through the ins and outs, ensuring you’re well-equipped to make informed decisions.
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