Florida Mortgage Blog

Please see the video on the Reverse Mortgage Process


Posted in:General and tagged: reverse mortgages
Posted by Preston Ware on December 7th, 2017 11:15 AM

I had a chance to enjoy Jupiter, Florida on News Years day when my son and I went over to Dubois park with some friends. It was a great day and we had a chance to play a little mini-golf at a new place at the end of the street. Looking around at Dubois park you see the nice contrast of homes available in Jupiter. We had the million dollar homes to the right and the free Oceanside park to the left.

Jupiter Lighthouse

Being the mortgage banker guy watching all of this, I have loan programs running through my head as I see the contrast of real estate that is available.Jupiter Oceanfront Condos 75% Financing on Condos

I urge anyone who is unsure about where they want to live in Florida to go explore Jupiter Florida. Abacoa in the center of town is a very unique community complete with Roger Dean stadium and baseball and events  and FREE clay court tennis courts. To the east you have Jupiter Island, home of the rich and famous such as Tiger Woods and Celine Dion and to the west you have Jupiter Farms with the one acre lots and space to stretch out.

In between all of this are many amazing high end communities as well as nice rentals that are affordable. I urge anyone to go explore Jupiter and please ask me if I can be of service as your Jupiter Mortgage Banker 561-329-0075

 

Jupiter Florida is a fantastic town to visit and live in from Pete Ware on Vimeo.

Posted in:General
Posted by Preston Ware on May 24th, 2016 4:53 PM
Here is a  video that I recently created explaining when I pull your credit and give the pre-approval letter to your Realtor.






Posted by Preston Ware on February 10th, 2016 12:47 AM
Home Loans in Florida 2016

I recently went through some old YouTube videos that I had created about one year ago and brought back some of the content that I thought was better.Please see Home Loans in West Palm Beach . I can help anyone in Florida.561-329-0075
Posted by Preston Ware on January 24th, 2016 12:46 PM
Posted in:General and tagged: trid guidelines florida
Posted by Preston Ware on October 2nd, 2015 2:17 PM

Private Money Financing in West Palm Beach, Florida

Private money loans for fix and flip investors help Realtors, Contractors and Investors leverage their cash to fix up more homes at one time. On my page http://www.prestonware.com/privatemoneywestpalmbeach , I do the math for all of the naysayers that claim paying 3-4 points on a private money deal is too much.

Here is a You Tube Video I did on the subject as well.

Posted by Preston Ware on December 12th, 2014 8:50 AM

This is a tale of two charming South Florida towns that still enjoy the small town feel but have a lot going on. Stuart and Hobe Sound are very reasonably priced considering you are getting a very close proximity to the Ocean and all the fun that goes with it.

Just up the road from Jupiter and Juno Beach you will enjoy all of the quaint roadside stops for food and drink and water fun. Visit my Stuart - Hobe Sound Mortgage Banker page for more information. Stuart-HobeSoundMortgageBanker

On my landing page I did the math for what to expect and average FHA loan will lool like and what an average conventional loan will look like assuming price points of $100,000 and $200,000 purchase price.

An excellent deal!

Posted in:General
Posted by Preston Ware on November 1st, 2014 1:10 PM

Visit my BoyntonBeachMortgageBanker for more details.

The Town of Boynton Beach is very conveniently located in the South Florida area adjacent to Delray Beach, and Lake Worth and down the road, Boca Raton.

I believe you could say Boynton Beach is a town that is on the up swing. Boynton has a lot to offer when it comes to reasonably priced homes, attractive amenities and convenience with the Atlantic Ocean to the east, golf course communities to the west.

Boynton Beach makes a good test dummy to price your loan at lower loan sizes. On the average prices are at least $40,000 less than Boca Raton. Home values are on the up swing.

For every $1,000 in money borrowed your monthly mortgage payment adjusts about $5.50 a month. A home 40,000 less will lower your monthly payment $220.

Posted in:General
Posted by Preston Ware on September 17th, 2014 9:44 AM

Checking my rate sheet recently I noticed that FHA rates have gone DOWN! A par rate was at 3.75% and I could pay costs at 4.25%. (Pricing varies on each and every loan)

Any kind of improvement is nice. This good news is kind of unexpected because all along we were expecting interest rates to start going higher in 2014. Our government is expected to begin the strategy of easing back the purchase of mortgage backed securities which has helped maintain interest rates at historically low levels.

The strategy here is that when the Fed is actively buying these securities prices stay high and yields or interest rates stay low. If they stop prices will fall and interest rates will rise.

Federal Reserve Ben Bernanke has said that the Fed intends to begin the end of the purchasing but based on two key signs. Two signs that have been tough to over the last few years.

  1. Unemployment rates low. Currently I believe we are in the 6% range.

  2. Inflation rates in an acceptable range. Currently they are around 2%.

To price out a loan please give me a call at 561-329-0075

Posted in:General
Posted by Preston Ware on May 21st, 2014 4:33 PM

Here are some interesting scenarios that would indicate that you should inquire about a rate term refinance.

1.) You simply need to lower your payment. Lets say your interest rate is 6.5% and the prevailing interest rate is 4.5%. That's a refi! Many customers have heard of the 2% rule. Usually, unless it is a tiny loan, if you bring your payment down 2% it justifies the closing costs of that mortgage. Actually that rule should be called the 1% rule because many customers with larger loans will benefit by just bringing their interest rate down 1%. Let's do the math! You have to take into account how long you intend to be in the home. Take the monthly savings and divide into the closing costs and see what your break-even is.

2.) The No-closing cost loan. Yes I can pay some or even all of your closing costs for you. Customers always ask what are the closing costs. I say they are usually about $4000 and they do not include your escrows of taxes and insurance. If the prevailing rate is 4.5% at 4.75% or 4.875% I will be able to pay closing costs for you. Ask me about this! On larger loans I can pay all of the closing costs making it a free interest rate reduction. Free is one of my favorite words and if I am lowering your rate 1/2 a percent but I get you a free loan, that makes sense!

3.) The cash in refinance. After we had a countrywide wake-up call after the mortgage melt down of 2007-2009 many clients decided to become more prudent and take the old fashion approach of paying down their mortgage as fast as they can. Please see the graph below.

Posted in:General
Posted by Preston Ware on April 15th, 2014 12:44 AM

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