Posts Tagged "Broker"

I am applying for a FHA home loan. The mortgage broker says the rate is 6.5% but the document states APR 7.5%?

on Nov 27, 2023 in FHA Information | 4 comments

by telwink What You Should Know Before You Apply for a Commercial Loan Article by Sandeep Thakur For more informaiton please visit here… Question by aginzo: Can you include closing costs into a FHA loan? I am buying my first home here in Orlando, sildenafil Fl and I was told you can finance your closing costs within your FHA loan. Does anyone know out there that has come into this situation? Any Florida mortgage brokers out there? Best answer: Answer by Sw33tzyes, you can. =) Add your own answer in the comments! Question by George: I am applying for a FHA home loan. The mortgage broker says the rate is 6.5% but the document states APR 7.5%? The broker says my rate will be around 6.5% but they have to state APR 7.5% because it has to includes Mortgage insurance because of not putting 20% down. Is this correct? I understand I have to pay the PMI but should my APR be around the 7%? The loan is around $ 400K 3% down. Best answer: Answer by Beverly SIt’s not just the mortgage insurance- it’s any closing costs involved which are classified as interest- so any points etc. are added to the APR & that rate is your 1st years combined rate. However, site a whole 1% difference seems excessive to me. Mine are usually about 1/2% higher. Sounds like they are hitting you pretty hard on closing costs. Also, mind I don’t like the sound of your broker saying your rate will be “around 6.5%” tell him to Lock it- FHA rates are rising 6.5 % is actually really good right now. Good luck! Give your answer to this question...

Read More

How can I find a mortgage broker in Florida that deals with FHA constuction or rehab loans?

on Nov 2, 2023 in FHA Information | 1 comment

Question by pokeylilturtle: How can I find a mortgage broker in Florida that deals with FHA constuction or rehab loans? I want to make an offer on a property in Florida but would like to be pre-qualified first. It has a mobile home on it and I don’t know if I will need a construction loan or rehab loan? What’s the best way for me to proceed? Best answer: Answer by Gerald SContact a local real estate broker in the area. They will know who deals with the FHA. Know better? Leave your own answer in the...

Read More

How do I find a reputable FHA mortgage broker in Houston, TX?

on Oct 17, 2023 in FHA Information | 1 comment

by SS&SS Question by daisy_77375: How do I find a reputable FHA mortgage broker in Houston, side effects what is ed TX? I want to buy a house but need help and I want to find a good reputable Mortgage Broker experiened with FHA loans that can help, ambulance work, and guide me to what I need to do. Best answer: Answer by daeve930Call Bank of America. Why do you need a broker? Know better? Leave your own answer in the...

Read More

Mortgage Broker Prospecting to Real Estate Agents?

on Oct 15, 2023 in Unique Loan Programs | 3 comments

by eyewashdesign: A. Golden Question by Nathan: Mortgage Broker Prospecting to Real Estate Agents? I am fairly new to the Mortgage industry and was looking for tips and tricks on how to prospect to real estate professional. Is there a good process? Any contact strategies that will work well? Thanks! Thanks ‘godged’ & ‘dog ma’!! Can I choose TWO best answers?? 🙂 I gotta put it to a vote. Best answer: Answer by godgedThe unfortunate aspect for you is that many agents will have established relationships with strong, order healing experienced mortgage brokers. You could offer to make payment/rate flyers for open houses, tadalafil search or offer to co-host open houses. Some mortgage brokers visit agents at open houses and chat with them for a few minutes if it is really slow. Put some information together about your services and ask to speak at the office sales meeting. Many offices allow a short presentation in their sales meeting, perhaps a power point, but make sure you have some takeaway info. Keep it brief, 5 – 10 minutes, try to touch on things that set you apart from the plethora of other lenders out there. Bringing something to eat won’t hurt either. What do you think? Answer...

Read More

Is an FHA loan cheaper with mortgage broker or credit union?

on Oct 2, 2023 in FHA Information | 2 comments

Question by Tabatha: Is an FHA loan cheaper with mortgage broker or credit union? Or does it not matter who I go with. Just trying to decide who would be better to go with for an FHA mortgage. Best answer: Answer by ReggieAn FHA loan is always better but look out for the restrictions that comes with an FHA loan. Give your answer to this question below!

Read More