Lenders Keeping Mortgage Rates From Going Lower?March 9, 2020Mortgage rates dropped to an all-time low last week as the benchmark 10-year U.S. Treasury note, which tends to influence the
A Lot Of Change In The Real Estate World Especially In South Florida Part 1
Dated: October 12 2016
Views: 600
When it comes to buying a home, one might think it's quite simple. I'm going to stop renting and buy myself a house. Or I'm going to sell my current house
and with that money, I'm going to by a bigger and better house. In this 1 week series of tips and home buyer education, I will explain several different topics...SOOO!
All I can say is STOP! Collaborate and Listen!! 
No Vanilla Ice is not back, but he is flipping multi-million dollar properties. - More on that Flipping stuff later..that everyone says is easy to do..
There are many things to think about in today's Real Estate Market. Not only with the price of homes sky rocketing, but with all the new financing laws, you better be prepared.
So first thing... I don't know how many times I have to say this... Speak to your lender.
Not only did a lot of laws change in 2011. They kept changing in 2012, 2013, 2014, 2015 and NOW 2016!
Not for the better, but for the worse.
A huge thing is student loans. 
By all means, if you don't need them, don't use them. Trust me, you will regret it when you want to buy a home or refinance.
Forbearance, deferment, Income based repayment...doesn't mean squat. Unless there's an actual payment on your credit report, they have to consider 1% of the loan balance as monthly debt.
Ex. $60,000 will equal to $600 per month the lender has to consider as the actual payment if your credit report shows $0 on student loans.
How does that affect you? Well, $600 per month is like saying you just lost $45,000 in purchase price.
This could mean the difference between the home you really want and the home you have to settle for. If you do happen to get a student loan and you want to buy a home. Do not put it on an income based, deferred, or forbearance status. Set it up for regular monthly payments - Amortized! Extremely important! Once you buy the house, you can always change it.
If you are confused or want to know more details, feel free to contact me. jesus@homefindertools.net or 305-432-4923
My advice is always free!
Stay tuned for tomorrow's tip on what not to do on your income tax returns!
Homes in Southwest Ranches, Weston, Fort Lauderdale, Davie, Pembroke Pines, Miramar, Plantation, Hollywood, Cooper City, Sunrise, Miami, Hialeah, Coral Gables, Miami Beach, Miami Shores, Bal Habour, Surfside, Hallandale, Aventura, Sunny Isles, South Miami, Doral. Cutler Bay, Kendall
Latest Blog Posts
Get ready First Time Home Buyers! - This year is your year to buy a home and STOP renting. There is still a month or so before this program is ready to roll out but right now, for those wanting
1281 NW 184th Ter,Pembroke Pines, FL 330295 beds 3 baths 2,708 sqftFOR RENT$3,500 5 bedroom 3 bath pool home one of the best areas of Pembroke Pines. Chapel Trail - Grade A schools -
Beaches MLS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. The data is provided exclusively for the user's personal non-commercial use, and may not be used for any purpose other than to indentify properties that the user may be interested in purchasing or leasing. The properties displayed may not be all of the properties in the MLS's database, or
MIAMI ASSOCIATION OF REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
