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Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #rentalincome #
1. Regular FHA where you can put down 3.5% have lower credit scores, higher income debt ratios
2. FHA203k - Mortgage you can do with an added feature of having Home improvements where you buy a home and get things done like a new roof, air conditioning, etc ., and have it all in one.
3. I am going to catch you on this one, did you know that Reverse Mortgage is an FHA?
So really 3 different types of vehicles that can get you into a home or get home improvements included in the financing or a Reverse Mortgage for the elderly that has no mortgage payment and help subsidize your retirement.
The Government did an incredible job looking at the various ways to help buyers get into a home.
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Didier Malagies nmls212566
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#mortgage #mortgagetips #fha #fha203k #reversemortgage
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #credit #creditscores
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #appraisal #homeinspection
The Gov't is printing 1 trillion every 100 days, and the costs of everything are out of control. The time will come when they will be printing a trillion every 30 days. Credit cards, car loans, and student loans are at unprecedented levels
is it time to refinance your home to save money and then do another refinance as a rate term when the pivot happens at some point in the future
the cost of everything is going up and not stopping and you will see inflation continue to gain ground once again. Time to put the house in order with a refinance to consolidate debt.
A phone call or an email away to go over your present situation and see what makes sense with the present home values
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Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #consolidation #cashout #refinance
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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#mortgage #mortgagerates #mortgagetips #rates
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #estatesale #flipproperties
Didier Malagies nmls212566
DDa Mortgage nmls324329
#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
DDA Mortgage nmls324329
#mortgage #mortgagetips #purchase #refinance #va
Didier Malagies nmls212566
DDA Mortgage nmls324329
#mortgage #mortgagetips #credit #creditscores
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
#mortgage #mortgagetips #fha #fha203k #renovation
Didier Malagies nmls212566
DDA Mortgage nmls324329
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Didier Malagies nmls212566
DDa Mortgage nmls324329
#retirment #retirementplanning #seniorliving #mortgage #mortgagetips
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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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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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.