Posts Tagged ‘Realtor’

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


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