Florida Mortgage Blog

Reverse Mortgages Lake Worth & Surrounding areas.

This is just a reminder that I am always available to jump in the car and meet my customers just about anywhere.

Some like to meet at a coffee shop such as a Barnes & Noble or Starbucks.Others like for me to visit them at their home where they keep all of their records.

It's up to you. Please see my recent posts to my Reverse mortgages page for Lake Worth and Surrounding areas.

www.prestonware.com/reversemortgageslakeworth

My service area is the state of Florida.

Here is some more information on Reverse mortgages and the kind of questions that will be asked of the borrower:

These are all very straight forward:
1.) Date of Birth
2.) Property address
3.) Approximate amount owed
4.) Approximate value
5.) How do you want your money?




Once these questions are submitted to my favorite Reverse mortgage source, it will take about one business day for them to return with a very snappy 67 page detailed attachment.

This attachment will detail how much you qualify for along with estimates of approximate closing costs. Also in the middle of it there will be a list of housing counselors in your area.

They all pretty much cost $150 to complete the course from an accredited counselor.

Once you are complete there, you are ready to go get your mortgage which is actually a very simple process. Please call me for details 561-329-0075

Please see the video on the Reverse Mortgage Process

The beautiful weather is arriving and so are the snow birds.
Here is a previously  recorded video discussing condo snow bird financing in Florida.

Usually 75% Loan to Value to have a limited review of the condo.

Thanks to low rates and steady appreciation in home prices, one of the most popular refinances that I have nowadays is a refinance out of PMI.




Please visit this page to learn more about all types of Refinances.

www.prestonware.com/refinancemymortgage

Here is a little video I put together that points out some of the many advantages that I enjoy as a Mortgage Broker for Gulf & Western Mortgage .

Many of these advantages have to do with the changes in the actual process of submitting your loan to an underwriter. The process is basically reversed compared to the banking side.

At a bank, an underwriter will look at your file around the 30 day in process. On the broker side, an underwriter is giving us a conditional approval on day 2. It is nice to know where you stand even before you go spend money on an appraisal.



(Click on Logo to play)

The 1% down Program is still available.
Recently Freddie Mac pulled the reins on the Home Possible Program but Fannie Mae still has the Home Ready Program.

The Home Ready has always been ready with less income limits.
Here is a little video that I prepared talking about this program and a loan we closed last month.

There are certain guidelines restrictions such as credit score and loan to value so please give me a call at 561-329-0075 to see if this loan program is right for you.