Archive for the ‘Blog’ Category

Housing starts surge to 9 year high

Thursday, November 17th, 2016

Early this morning, prior to 8:30 AM EST the 10 yr note unchanged and early trade in MBS prices +4 bps from yesterday’s close. Then came 8:30 and a lot of key data. Oct housing starts expected up 10.5% to 1168K jumped 25.5% to 1323K; Oct building permits expected -3.0% to 1190K, increased 0.5% to 1229K. Starts the strongest since Sept 2007. A 10.7% rise to an 869,000 rate for the report’s key component, single-family homes, that follows an 8.4% surge in September. Take a look a the rest of the positive numbers.

Read the complete article here

Today’s Mortgage Market Commentary 8.19.16

Friday, August 19th, 2016

Today’s Mortgage Rate Summary
How Rates Move:

Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market. This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events. When MBS pricing goes up, mortgage rates or pricing generally goes down. When they fall, mortgage pricing goes up.

Rates Currently Trending: Read the complete article here

Pre-Qualifying and Pre-Approval for a mortgage are different.

Monday, November 2nd, 2015

When it comes to obtaining a mortgage pre-qualification or pre-approval letter. KNOW the facts BEFORE you go shopping for a home. A little extra time is worth your peace of mind.


We think we are pretty good and so do our satisfied clients.










Useful Websites for Home & Family

Wednesday, September 30th, 2015


This week for my e-mail blog I thought I would share some useful websites. With the ocean of content on the internet, it seems impossible to find specific information at times.The information below is listed by category to get you right where you need to be. Save this one for future reference or to share with friends, family and clients.


Home Improvement… -definitely a handyman’s quick resource guide as it is broken into categories…such as attics, cabinets, decks, electrical all the way down to wallpaper -great site that offers a great range of do-it-yourself projects, also offers links to some of the top do-it-yourself bloggers that have some great ideas

Decorating… – this site borrows from a wide range of shows it airs that are all about being a homeowner….from remodeling your kitchen to how to improve “curb appeal” – had to throw this one in there because as we all know, weather you are painting walls or reviving a piece of furniture, re-painting gives us the most wow effect when do a makeover…here you can find an index from different types of paint, paint calculator, paint techniques, and more. – If you’re looking for one-of-a-kind items or the kind of stuff you will never see at your local, but anything and everything store, Etsy is great place to browse! True, it is popular for arts and crafts, but there are really cool furniture pieces and other elements of home décor

Plant and Garden… – National Gardening Association, a library of expert advice, techniques, plant profiles and news of upcoming events – A gardener’s supply company that has a wealth of information on this site…indoor and outdoor plants and gardening to aromatherapy and pest controls with how-to’s and planning tools

Community and Family… – Looking to get rid of something someone else can use? Or get something you want or need for free? Look in your community to share and keep the dump from filling up with stuff people can use – this is a great way to get your pre-teen or teen ways to volunteer, searchable by age, interest and location……also find community grants and scholarships – a great site to research schools as well as leave reviews to help other parents…. – will not only help you find and research daycare, but also baby, pet and adult sitters in your area….or help you sign up to offer these services

Health and Wellness… – So many things can go wrong when it comes to household products, medications, even pet food. All the federal government sites that publicize recalls are collected here and provide a one-stop-shop for consumers to find out which things they have in and around their house that could be dangerous. – started as a doctors advice website, but now offers information on diet, exercise, nutrition, sleep, skin care, etc. If you have a certain ailment, you can sign up to get up-to-date developments.

Legal Matters… – from writing wills to copyright laws, this touches on things the average person needs to know to represent yourself or find the right lawyer

Financial… – chock FULL of information about how to save money and creatively cut corners from grocery shopping tips to credit card and mortgage rate advice, getting out of debt, it’s pretty much all there. – a more long term financial planning site that offers advice for Budgeting and Personal finance (i.e. paying for college, tax planning, credit and debt management). Also has small business and a great section for investing (stocks, mutual funds, investing for beginners) – this is an independent website that not only provides explanations of every type of insurance but also gives work sheets, answers to common questions and links to local agencies

Technology… – the latest games, gadgets and home computing for troubleshooting, this site offers practical responses to common questions and lets you download them right to your PC – mostly the latest news and reviews when comes to phones, PC’s tablets, etc.

Special Note….from ideas to sharing anything and everything….i.e. home improvement, decorating baking, crafts, recipes, building and repairing, painting….the infamous is great…. if you haven’t been there, be warned its addicting and you could be on there for hours!!!!

Hope these come in handy… and have a great day!


Your Realtor referred you to me for a reason

Wednesday, April 29th, 2015

Why did your realtor refer you to me? Great question.

A high quality realtor knows that the key to a successful transaction means TEAMWORK with a professional mortgage broker. Any experienced realtor could tell you horror stories about times when a client made a poor choice of mortgage company and ended up with big surprises at the closing table, or worse, no closing taking place at all! A good realtor will form relationships with trusted individuals who have proven themselves time and time again, so that they know you will be given the excellent service that you deserve. It is important to know that your realtor is NOT given any compensation or “kickbacks” for referring you to a mortgage broker. As mortgage professionals, we desire more referrals, both from you and your realtor, so consider the extra motivation this provides for us to take great care with your satisfaction!

We love referrals!

Realtor Referral








We’re here to help: Call 321.723.6206 OR

Click HERE for quick answers about a Mortgage


Low Down Payment For First Time Home Buyers Now 3 Percent

Friday, February 6th, 2015

 A new “Low Down Payment” program for First Time Home Buyers has been rolled out by Fannie Mae.

The Fannie Mae 97% loan to value, low down payment program identifies a First Time Home Buyer as someone who has not owned a home in the last three years in order to obtain a mortgage with only a  3 percent down payment. With this 3% low down payment program compared to FHA’s  3.5 percent down payment, many borrowers can now purchase with less money using the conventional loan. In addition, conventional loans do not need the 1.75 percent UFMIP/up front mortgage insurance premium that gets financed into your loan like an FHA loan requires. The savings can be real when spread out over the life of the loan.

Here’s a few facts about the new low down payment 97% LTV program:

  • First time home buyers * no home ownership in the past 3 years *
  • No upfront mortgage insurance. FHA requires it
  • Mortgage insurance can be canceled when your equity exceeds 22%
  • 30 year fixed term
  • Single family home attached/detached
  • Home ownership counseling must be completed as part of qualifying







Would you like more information on the 3 Percent Low Down Payment Program for First Time Home Buyers? Give us a call at 321.723.6206 for your free, no obligation mortgage consultation. Or go to this link and hit quick quote for quick service.




Refinance a Mortgage with NO Closing Costs is just not true.

Tuesday, September 16th, 2014



This is a great article by Elisabeth Leamy via Good Morning America.

  The next time you see an ad to refinance your mortgage for “free” or with “no closing costs,” run the other way. The Federal Trade Commission has just fined a mortgage lead generator company half a million dollars for making claims like that. The FTC says the company broke not one, not two, but three laws and rules by marketing mortgage refinances this way.

The defendants are certainly not alone. I see similar ads everywhere—from online to on telephone poles. The wording varies but they are all making the same false promise of a mortgage or refinance with no closing costs. It’s a lie. How to they get away with it? Two ways:

In scenario one, instead of giving you the best possible mortgage interest rate for which you qualify, they charge you a higher rate. That means you’re paying extra every single month for 30 years. Trust me, closing costs are actually a better deal.

In scenario two, they tack the closing costs onto the amount of principal you owe. You still end up paying the closing fees, you just pay them at the end instead of the beginning —AND you pay interest on them for 30 years. Yuck.

“An ad that says you can refinance your mortgage for free is clearly deceptive if you have to pay money at some point before you sign on the dotted line,” said Jessica Rich, director of the FTC’s Bureau of Consumer Protection. “Lead generators need to understand that federal laws governing truth in advertising apply to them as well as everybody else.”

If you want to know more about mortgages for purchasing or refinancing from a trusted advisor give me a call or simply fill out the contact form below.

Try the Mortgage Guy

FHA Back to Work Program for Florida Homeowners

Tuesday, April 8th, 2014


FHA Back to Work Program for Florida Homeowners! You have to read this, like it and share it. Get the word out about this FHA Back to Work Program. This FHA Back to Work Program is helping so many people get back on the path to home ownership once again in Florida.

As a result of the recent recession, many families faced a period of financial difficulty due to job loss or reduction in income. In August of 2013 the Federal Housing Authority (FHA), moved to relax its guidelines for borrowers who had experienced a significant “financial event”, such as bankruptcy, foreclosure, short sale, or a loan modification, with their Back to Work Program.

The FHA believes that some borrower’s credit history, although negatively affected by loss of income, may not truly show their credit worthiness. As a result, the FHA is now waiving their traditional waiting periods following a derogatory credit event. The former guidelines required that a borrower wait 3 years after a deed-in-lieu, foreclosure, or short sale, and 2 years after a bankruptcy, to qualify for an FHA mortgage. The new guidelines provide that if a borrower qualifies based on all other FHA requirements, the adjusted waiting periods will be only 12 months for those economic events.

The FHA Back to Work Program for Florida Homeowners program requires the following:

1.  The borrower has recovered from the financial difficulty and has 12 months of good credit history, free from derogatory credit issues.

2.  The borrower can document financial hardship, and that their credit issues were a result of a loss or reduction of income. Their household income had to have been reduced by at least 20% for a sustained period of at least 6 months and through the date of the “financial event”.

3.  The borrower must complete HUD approved housing counseling 30 days before writing a contract to purchase or officially starting the mortgage process.

Meeting the above requirements does not automatically qualify an applicant. They must still meet the Standard FHA underwriting guidelines, however, this program will allow many families to once again become homeowners sooner.

If you would like more information regarding the FHA Back to Work Program simply fill out the form below. We’ll be notified immediately of your email.

Harp 3 Comes Closer To A Launch Date For Florida Homeowners

Saturday, December 21st, 2013










HARP 3 is the next release of HARP AKA Home Affordable Refinance Program.

 It’s a program which has been talked about for months, but not yet made into law.

The passage of HARP 3 grows more likely with Mel Watt at the helm of the FHFA because, as a congressman, Watt pushed for homeowner assistance programs and increased access to credit. He is expected to continue that advocacy as head of Fannie Mae and Freddie Mac.

For homeowners, this could lead to a number of meaningful changes.

As one example, the new FHFA may reduce some of its guarantee fees — costs charged to lenders and passed on to consumers in order to insure mortgage bonds against loss.

“G-fees” have been incrementally increased since early-2011, and are scheduled to rise again in next spring.

Without FHFA G-fees, conforming mortgage rates would be lower by as much as 0.75 percentage points.

However, it’s the passage of a HARP 3-like program that has U.S. homeowners most excited about Mel Watt. A HARP revamp would likely expand the program to reach millions of additional households, and may even allow current HARP homeowners to refinance via the program a second (or third) time.

Some of the potential HARP 3 enhancements include :

Changing the program eligibility date: Currently, to be HARP-eligible, your loan must be originated no later than May 31, 2009. With HARP 3.0, eligibility dates may move into 2010 or 2011.

Allowing non-Fannie Mae and non-Freddie Mac mortgages: Currently, only loans backed the FHFA are HARP-eligible. With HARP 3.0, eligibility may be extended to include Alt-A, subprime, and bank-held loans, too.

Permit the refinance of an existing HARP loan: Currently, the HARP program is one-use only. With HARP 3.0, homeowners may be allowed to “Re-HARP” an existing HARP mortgage.

Make HARP a true “streamlined” refinance: Currently, HARP requires some paperwork. With HARP 3.0, the program could mirror the streamlined programs of the FHA, VA and USDA for faster, simpler approvals.

Each of these enhancements would jump-start the Home Affordable Refinance Program and, by extension, the U.S. economy. Refinances help boost consumer spending which helps to keep job growth strong.

With Watt confirmed at the FHFA, HARP 3 could pass at any time. Will you be ready for it?

If you would like more information or to be kept up to date on Harp 3 please fill out the information below.

Steve Mugar




My Safe Online Shopping Tips

Friday, November 29th, 2013

Safe online shopping tips

It’s holiday shopping season once again! predicts that nearly $82  million dollars of merchandise will be spent at online retailers during the months  of  November and December  this year. While online shopping offers benefits such as 24 hour shopping  convenience, a  wider variety of goods available, and the  ability to shop for the lowest price, it can also  prove harmful due to potential  security risks.


Here are a  few pointers to keep your shopping experience a safe one.

1.  Before you start, ensure that your anti-virus and anti-malware programs are updated. Many software programs can be set to automatically update. This wold be a good time to make sure your automatic update feature is activated. In addition, viruses can change quickly so make sure to use a program designed to detect newly created or mutated threats before their signature becomes part of the automatic updates.

2.  Check and optimize your security settings.  Many malicious programs look to detect and exploit security vulnerabilities in operating systems and web browsers. You can run System Mechanic’s Security Optimizer which finds and repairs security vulnerabilities.

3.  Use a credit card instead of a debit card. You can dispute fraudulent charges made with your credit card without putting at risk your own money. Money withdrawn from your bank account by using a debit card is much more difficult to recover.

4.  Keeping with that thought. Be aware of your credit card issuer’s policy on fraudulent charges. Does your credit card company tell you if fraudulent charges are suspected? If not, you may want to consider another company. Search for credit cards that  cover you 100% in case of losses due to fraud.

5. Shop secure sites this way. Many sites use SSL (secured sockets layer) to encrypt information. Stick with URLs (uniform resource locator) that begin with https: rather than http:. Look for the padlock icon or key symbol  at the bottom of your browser window before you make a purchase.

6.  If you are going to use sites like Amazon or Ebay where private sellers are involved you can avoid sellers engaging in fraudulent activities by reviewing the site’s customer rating systems. No rating – RUN.

7. DO NOT click on retail website links that you receive in an email.  Scammers create similar looking websites that look exactly like the official retailer you are trying to shop at.  Instead of clicking that link. Type the vendors website address in your browser instead.

8.  If you are uncertain about a particular website there are multiple consumer reviews websites to review for positive or negative experiences. If you can’t find a review, search for another retailer.

9. Password changes are a must. Change them and do it often and never use the same passwords on multiple sites. If your personal information is acquired, a thief won’t get very far if you use unique passwords and user names on different websites.

10. Check your monthly statements and transaction history on your credit card  and bank accounts before the bill shows up. If you do not recognize charges on your bank statement or credit card this can often be an indication of identity theft.  If this happens contact your bank or card issuer immediately.  Your bank can take certain steps to protect you by immediately locking the account down and issuing you a new card. Always ask what you can do to keep your information secure.

You are now empowered to have a great time shopping with peace of mind. Have a wonderful holiday shopping season!