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Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #wiringfunds #wiringmoney
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips
Depending on where you live there is an opportunity in certain areas that you can get $2,500 towards the closing costs. You also get a lower rate and monthly PMI. Programs open up to you where there is down payment assistance and also the 1% down program available.
I am seeing more and more first-time home buyers coming out now and this is information you need to know. Yes, home prices are higher and rates as well. But if you have these programs available and the payment is affordable then the probability of refinancing down the road is in your favor and if inflation continues to go up so will home prices.
Maybe it is the right time to buy a home now?
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Didier Malagies nmls212566
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Didier Malagies nmls212566
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#mortgage #mortgagetips #estatesale #flipproperties
Didier Malagies nmls212566
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#mortgage #mortgagetips #mortgagerates
Rates are moving up now and several factors could be contributing to it, the 1 trillion dollars that the gov't is printing every 100 days could be inflationary. so what I see happening is there will have to be an event that happens to drop rates like we experienced in 2020. We will be paying 1.6 trillion in interest expense annually starting at the end of this year and are said to grow to 3 trillion annually next year. I say rates will have to come down in order for the Gov't to pay the interest expense, kicking the can down the road so to speak. We will have an opportunity to refinance the higher rate we have on our home and also refinance all the credit card debt, installment loans, car loans, and even student loan debt. The probability is great sometime down the road. Continue to watch the videos and when rates do make a significant drop will let my viewers know. Then it comes down to what is the cost vs the savings on a refinance. Opportunities will come just the timing not sure about.
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Didier Malagies nmls212566
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#mortgage #mortgagetips #purchase #refinance #va
Didier Malagies nmls212566
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VA mortgages, also known as VA loans, are home loans offered to veterans, active-duty service members, and, in some cases, eligible surviving spouses. Here's what you need to know about VA mortgages:
Eligibility: VA loans are available to active-duty military personnel, veterans, reservists, National Guard members, and some surviving spouses. Eligibility requirements may vary based on the length and nature of service.
No Down Payment: One of the most significant benefits of VA loans is that they typically do not require a down payment, allowing eligible borrowers to purchase a home with 100% financing.
Funding Fee: While VA loans do not require mortgage insurance, they do require a funding fee. This fee can be rolled into the loan amount and varies depending on factors such as the down payment amount and whether the borrower has used the VA loan benefit before.
No Private Mortgage Insurance (PMI): Unlike conventional loans, VA loans do not require private mortgage insurance, which can save borrowers money on their monthly mortgage payments.
Competitive Interest Rates: VA loans often offer competitive interest rates compared to conventional loans, making them an attractive option for eligible borrowers.
Flexible Credit Requirements: VA loans typically have more flexible credit requirements compared to conventional loans, making them accessible to borrowers with less-than-perfect credit.
Loan Limits: VA loans do have loan limits, which vary by county and are set by the Department of Veterans Affairs. Borrowers can still use a VA loan for a home purchase that exceeds the county loan limit, but they may need to make a down payment for the portion of the purchase price that exceeds the limit.
Assumption: VA loans are assumable, which means that if a borrower sells their home, the buyer can take over the VA loan if they are also eligible for VA loan benefits. This can be an attractive feature when selling a home.
Refinancing Options: VA loans offer various refi..
Didier Malagies nmls212566
DDA Mortgage nmls324329
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Didier Malagies nmls212566
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Didier Malagies nmls212566
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With More homes going on the market, people losing jobs and the cost of everything going up, when a home comes on the market it may need a
New Roof, A/c, floors, kitchen, and or bathroom. With an FHA 203k or a Conventional renovation loan, you can have that done when buying the home.
An opportunity to include that in the mortgage so you do not have to do the out-of-pocket expense. Maybe the home will not pass inspections and this way you can buy your home and get the work completed.
You must have a licensed contractor who is insured and bonded, the first thing is to get them approved with the lender. Then when the appraiser goes to appraise the home they have your contractor's bid looking at the after-value. At closing the seller gets their funds and the lender has the escrowed funds ready to pay the contractor once the work is done.
Rates are usually a .25% higher and there are a few more fees with inspections to check and make sure the work is completed.
Let me know how I can help you
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Didier Malagies nmls212566
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You have Conventional Mortgages, FNMA/FHMC, FHA, VA, Reverse Mortgages, Bank Statement loans, DSCR, Reverse Mortgages, and 1099 mortgages.
Depending on your particular situation, could be a choice based on
credit scores, income, funds to close
Buying a home using Bank statements to qualify for a mortgage
Buying a home using a 1099 only to qualify for a mortgage
Using rental income to qualify for a mortgage
Or being a first-time home buyer with just 1% down to purchase a home
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Didier Malagies nmls212566
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#mortgage #mortgagetips #refinancing
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #credit #creditreport #creditscores
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #mortgageclosing
What if you refinanced your lower-rate first mortgage into a higher rate but consolidated all of your debt into one low payment. Getting rid of credit cards, car loans, installment loans, and student loans. What would your savings be a month and how much would you save? Then if property values were ever to plummet and rates came crashing down. Just go back to 2007 when we were able to refinance everyone on the HARP program. I just break things down to worse-case scenarios and how you can stay ahead of the game with your finances no matter what.
I think it is time to get the house in order and save money, doesn't seem like food , medical or anything is going down but instead still going up
Maybe everything we are told is not exactly correct
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Didier Malagies nmls212566
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#mortgage #mortgagetips #downpayment #firsttimehomebuyer
Didier Malagies nmls212566
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First-time homebuyers put down 1%, and the lender gives you 2% towards the down payment, no strings, and no liens. You have 3% down and now work on getting the seller to pay closing costs of up to 3%.
Working on a loan right now where the purchase price is $238,000, the 1% down is $2,380 the lender is giving $4,760 and the seller is paying 6,000 of closing costs. so the remaining closing costs are 2,000.
The total out-of-pocket for the buyer is 4,380 for this home
How much does it cost to rent after paying first, last, and deposit?
You must be below the median income and a first-time homebuyer
Pretty exciting to put $2,380 for the down payment and $2,000 for closing costs to finally own a home. No second liens just one mortgage at 97%
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Didier Malagies nmls212566
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Whether you are looking to buy a home / property now, or want to prepare for a future purchase, I enjoy helping people find and qualify for the best loan possible. As a Mortgage Broker with over 34 years of expertise, I value the relationships I have built with realtors, bankers, and past customers. I know that these relationships are based on the fact that I operate with integrity, put my clients first, and strive to offer the best customer experience in the state.