How lucky am I to live in Palm Beach Gardens, Florida a true golfers paradise. I also, realized how lucky I am to be a Full-Time Florida Mortgage Broker in this market which really allows me some great opportunities for both myself and my clients. I know many Direct lenders would like you to believe that they are squeezing out the brokers. In some cases this might be true however, a direct Direct Lender can only offer products that they currently service. Below are products that are still available in the State of Florida:
What I always tell my clients is to keep in mind the following equation:
RISK = RATE
If you are have a 720+ FICO and 20% equity and have been on the job for years. What really is the risk to the investor? However,if you have little money down and you have a 600 FICO Your risk goes up. (if you don't qualify for an FHA)
If you choose to work with a direct lender, it is not a bad thing they have some great products. However, what if you don't fit in the perfect box? Can they have the ability to help you by sending your file to another lender? This is what trully sets the Mortgage Professionals apart.
In closing I decided to take my own advice from my previous post "Turn it off Daddy", since I have done that I know my attitude has changed for the better.
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Full-Time Mortgage Broker in South FL. Palm Beach County. Specializing in Hard Money / Private Money, Foreign Nationals, Jumbo and Super Jumbo Loans. In addition I work with Today's Premiere Lenders.
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Thanks for the info. Keep that sky up there.
Dan, Your welcome. Thanks for the comment
I appreciate the ray of sunshine. How are VA loans these days ... any preferred benefit?
Larry, One of the best features in the no Mortgage Insurance. However, you really have to look at everything before making a decision.
The best thing to do is to stay positive.
it doesn't seem like i'm getting fewer programs. the investors are still burning up our fax machine and we still get a ton of emails with mortgage offerings.
i saw this in a blog last week. don't worry, be happy.
i think that's going to stick with me for awhile.
With todays negative news on Countrywide, there may be little pieces of the sky falling. If they fail or file BK it will REALLY get our markets roiling. Aloha
Thank you very much for sharing, we all need to stay positive.
Great post Matt! This is so true that the sky is not falling, it's dark and gray, but not falling. We are in an "adjustment" stage to put it nicely ;) Wonderful explanation on risk = rate...very easy to understand explanation.
Sally, Glad to see your ok.. Now with that sad.. I agree stay positive
Jay, I like that to..:-) Thank you for reminding me..
Bruce, True I know I have trimmed back with countrywide now for awhile. Not because of the products but the rates in Florida are higher than many of thier compitition
Shane, Thank you I believe crying won't help anyone..
Leah, I found it is nice way of saying it.. Also instead of bad credit.. I use speed bumps along the way..:-) However, lately all I have seen are some nasty car crashes..:-)
Matthew- Thanks for the South Florida Mortgage Update. It is good to know there are programs that are still alive. If you believe what the new says no one would get a loan!:) Katerina
thanks - hey I need help.... what does a gal who has never held a club tell golfers about our courses... you will have to check my next blog.... I am really taking a chance here - golfers among us will be so jealous
Katerina, My pleasure. I know...what you mean... Thats why I joined you and turn it off..:-)
Thesa, Anytime you need help you know I am always here. I can't wait to see it
Matthew - I just keep moving on and only try to pay attention to what is important! As you said there are still great programs, the sky is NOT falling and this to shall pass!
Kim, True.. although with everything going on the sky is getting a little dark.. but that is what is great about living in South Florida... you don't like the weather wait 15 mins...