Now seniors can easily borrow against the equity in their homes and qualification is SIMPLE and EASY. HECMs or reverse mortgages use the equity in the home to actually pay the senior every month. The money can also be received in a lump sum or as a line of credit.
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.
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.
For more information or to apply, call Randall at 863-229-1235
When I get clients looking at purchasing their first home, they typically want to get into the home with little money down, get a great interest rate on a fixed mortgage and get a great price on the home. Now may be the best opportunity in decades to accomplish all of the above!
Banks are unloading property they foreclosed on at record low prices. Sellers are discounting to compete. Interest rates are historically low. The FHA is designed to help first time home buyers become home owners.
FHA loans are typically 30 year fixed loans and only require 3% of the purchase price down. Even better news, the seller can contribute 6% of the purchase toward the buyer's closing cost. This generally works out to a very lucrative option for the buyer. If you are looking for an expert on FHA loans in Florida, I can help.
A day doesn't go by that we don't get a call for financing ideas on single wide mobile homes. There are so many in Florida, because people retire here on fixed incomes and single wides are a super value. But, if you
can't pay cash for your retirement pad, what are the options, if any?
FHA loans are available on single wides if you call the right mortgage expert (hint, hint). Single wides on rented land can't be financed by an FHA insured loan because the land is not part of the collateral. Here we'll need 20-30% down and a smart mortgage broker that knows how to finance a chattel loan.
Our Florida DMV regulates manufactured homes in our state. The rules vary so much state-to-state that many lenders only lend on Florida mobile homes. There are so many here, that it's worth the investment to learn how to underwrite these loans. We get calls from other states all the time asking for any kind of hints on financing single wides. Unfortunately, we cannot help, sorry.
In Florida though, there is not a whole lot we can't do. We are working on a 1955 single wide mortgage right now, in Orlando! The snow birds are coming down for the winter and we are getting ready for a huge surge in business.
Of course, we can do regular frame or block homes loans, modular home loans, log cabin mortgages, commercial and retail store loans too. We started helping seniors with HECM or reverse mortgages this year too.
First time home buyers typically want to get into their first home with little money down, get a great interest rate on a fixed mortgage and get a great price on their first home. Now may be the best opportunity in decades to accomplish all of the above!
Banks are unloading property they foreclosed on at record low prices. Sellers are discounting to compete. Interest rates are historically low. The FHA is designed to help first time home buyers become home owners.
FHA loans are typically 30 year fixed loans and only require 3% of the purchase price down. Even better news, the seller can contribute 6% of the purchase toward the buyer's closing cost. This generally works out to a very lucrative option for the buyer. If you are looking for an expert on FHA loans in Florida, I can help.
Call Randall at 863-229-1235 and I'll pre-qualify your application.
Manufactured or Mobile homes are a different animal, but in expert hands, mortgages are easy to come by. If the mobile home, (single wide or double wide)
was built after June of 1976, there are tons of lenders lining up to fund a FHA or VA loan. These loans require very little down (3%) too.
Veterans eligible for VA loans can get 100% financing PLUS up to 6% of the purchase price from the seller to pay for closing costs. That is 106% of the purchase price!
If the home is older than June, 1976, things get a bit trickier, but I can still help. The maximum loan-to-value is going to drop to 80% or less. Loans on pre-1976 are not government insured by the FHA or VA either, so the borrower's credit score will need to be better. Although there are fewer of these lenders, there are still quite a few to choose from.
Call me with your scenario and I will help you get your deal DONE!
Randall the Super Broker - 863-229-1235
Specializing in helping Realtors increase their production by financing their client's dream home! I also help clients refinance their homes into LOW interest mortgages. CALL RANDALL - 863-604-0169
I started doing mortgages years ago by helping clients that were denied by their local bank. Sure, if you have excellent credit, stable employment, lots of money to put down, by all means see what your bank can do for you. If you are self-employed, credit score challenged, in need of 100% financing, working with a Mobile Home or any other in a list of things CALL RANDALL @ 863-604-0169.
As a great mortgage broker, you need to have a wide variety of options and experience to best help your clients. I have an extensive background in conventional, sub-prime, FHA, VA, commercial and hard money loans. Most of my peers are limited to one or two types of mortgages due to the complexities associated with such a wide range of lending options. I believe in giving my clients the mortgage that suits THEM best. If we can save $100 per month in mortgage insurance by doing an FHA insured mortgage, then let's do it. If I need to help a veteran get 100% financing on a single wide mobile home, let's do a VA loan. If a senior is falling behind on expenses, let's look at a reverse mortgage. My tool box is loaded!
No loan is too small, no problem is too big. Call the Super Broker @ 863-604-0169
Challenge me! I have performed miracles and closed loans that were denied a half dozen times elsewhere. If the loan "Makes Sense", then some lender will fund it - if it is presented properly. Obviously, I prefer to do EASY mortgages, just like everyone else, but the challenging loans are more interesting and add to my experience.
Wholesale Interest Rates: I'll let you in on a little secret! Most of the lenders that you are aware of accept wholesale loans from mortgage brokers like me. It is an easy way for them to get a lot of extra loans. Since they didn't have to meet with the client, pay their loan officer and all the other overhead costs associated with going directly to their bank, they give mortgage brokers DISCOUNTED interest rates! I've had cases where my client saved 1/2% off their interest rate, compared to going to THEIR own bank directly. 1/2% interest over a 30 year period is A LOT OF MONEY.
Manufactured / Mobile Homes: I am an expert when it comes to manufactured home financing. There are tons of nuances when it comes to this type loan; wind zones, DMV titles, HUD plates, VIN numbers, foundation inspections and so on. To do this type of loan you need a mortgage broker that knows about loans AND all of these other nuances. It took years to master this type of loan!
Reverse Mortgages: Seniors over 62 years of age can apply for a Reverse Mortgage. That's right Reverse, the bank makes monthly payments to the senior. This tool is an excellent option to consider when a senior's needs change or if some debt consolidation might increase the quality of life.
The Super Broker can do the immpossible! D. Shay, Dade City
Randall got our loan approved quickly after our own bank turned us down! - R. Quincy
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