Home Prices Falling: Why buy Now?

This is the 64k or should I say the $264k (inflation you know) question. Even in these troubled times, many folks need to make a property purchase (or refinance a not so great mortgage). Marriage, divorce, larger family, empty nesters, retired and moving from the north, job transfers. These are all reasons why waiting for prices to go down (or up?) just won't work. So if this applies, please, please, please start talking to your friendly, neighborhood mortgage broker (that would be me-g) about pre-qualifying for a mortgage. These days, just having good credit isn't enough. A good job is also required. And a down payment! 3-25%. I'll look forward to discussing your particular situation with you. Give me a call at 941-356-7511.

Can Anyone Qualify for a Mortgage-Help!

Despite what the media would have most people think, mortgages are still available for "qualified" borrowers. Qualified means credit rating about 620 and a minimum down payment for purchase of 3% of purchase price. This is the FHA standard. For conventional Fannie Mae, Freddie Mac, the standards are higher. Credit rating 660+ and 5%-10% down payment for purchase. Why use Fannie Mae, Freddie Mac? More property types-such as condominium are acceptable. Also, Second Home and non-owner occupied (investor) purchase and refi's are allowed, unlike FHA. Rates do flucuate daily (just like the stock market) but lately have gone under 6%. Now is always the best time to apply.