Randall Schrader

Real estate purchases have benefited from this simple little tool. When a buyer's budget is tight, but they have found the home of their dreams, how can I help get a deal put together with as little "out-of-pocket" cash as possible? The answer is Seller concessions!

These days, almost every home is on sale. A wise buyer will offer a lower than list price and almost certainly get a discount of some sort, but wait. Why not offer a less discounted offer and include seller concessions? It works our the same way for the seller. Structure your deals so everyone WINS.

Here's how it works; Let's say a home is listed for $200k and the seller will accept $180k.

Why not pay $192k and accept 6% of the purchase price in seller concessions? This gives the buyer almost $12,000 to use toward a homeowners insurance policy, escrows, taxes payable at closing or any other closing costs in a FHA loan. Sure you are borrowing more, but less "out-of-pocket" costs at closing can make or break a lot of real estate transactions.

Need a SMART mortgage broker in Florida or Georgia? Call Randall 863-229-1235

Reverse mortgages use the equity in a senior's home to actually pay the senior every month. The money can also be received in a lump sum or as a home equity line of credit.

Here is the best news, the money received is not repaid until the home is sold or the seniors leave the home, at which point the proceeds from selling the home pay off the loan and the remainder of the proceeds go to the seniors or their heirs.

You need perfect credit to qualify, right? Absolutely not! Credit history is hardley a consideration. The approval process is the easiest out there and the money can be used to balance the budget, home improvement, uncovered medical expenses, extra life insurance, you name it!

Call and see how much you may qualify for;

In Florida and Georgia, call Randall at 863-229-1235

Things that effect us most are between our ears.

Did you hear the one about the fleas? If you put fleas in a jar and put the lid on, they will learn to jump just short of the lid. When you remove the lid, the fleas still stop short of freedom indefinitely. If only one flea tried something new or just didn't follow along repeating the same ineffective procedures over and over.

We limit and empower ourselves for the most part. But, far to many people believe otherwise and just idle through life. Don't just do your job. Take a different path to work! Constuctively think about how your job will be in 10 years, and do it now.

I am amazed to hear Realtors tell me that financing is virtually impossible. Things have gotten harder, but financing is widely available if you talk to a pro, Heck we just did a 100% VA loan on a 1986 single wide, with 6% seller concessions!

Banks find these loans difficult to understand. I think in part, because they do not fully understand them. Other banks see this kind of property as an opportunity, and they do really well. My job is to seek out lenders that do "make sense" loans and then send them loans that "make sense."

Loans ARE available in Florida! Plus, manufactured homes are very affordable and prevalent throughout Florida. The snowbirds are back.

Call THE manufactured home specialist - Randall at 863-229-1235

Well, FHA MI is currently 1.5% of the loan amount up-front and financed into the loan amount. So, a borrower here would have his loan increased $1,500 on a $100,000 loan. Then, each month the borrower would be required to pay .50 (multiply the loan amount by .0005) toward a monthly mortgage insurance policy. In my $100,000 loan example, the mortgage insurance premium is only $50/month.

Comparing this to a conventional PMI payment will show a drastic savings each month. And, if you refinance or sell your home within the first five years, you can likely get a chunk of the pre-paid MI back.