Many are inquiring about condo financing in Florida. https://youtu.be/8c7YX5TH0ow We had quite a few changes since the collapse of the building in surfside in 2021. Fannie Mae and Freddie Mac requirements to have a condo approved for financing have changed in February 2022. The guidelines are more “picky” especially on older buildings unless they've had their 40 or 50 year inspections and all recommendations for maintenance have been completed. For the condo- Please send me the name … [Read more...]
Fairway Advantage – How to beat other buyers with your offer
The Fairway Advantage (https://youtu.be/B59mfRdts40) The competition is fierce when it comes to putting an offer to buy a home. Sometimes a home can get 10 to 30 offers within a day of being put on the market. So how did you get an advantage and have your offer stand out? If you are a home buyer or a real estate agent helping a home buyer you can have benefit from using the Fairway Advantage option. This option is not offered by most banks or lenders. Loans for you through … [Read more...]
Why are home prices and interest rate on a rise for 2022?
Mortgage Rates and Home prices are going UP UP UP. You probably noticed that home prices have been on the rise and interest rate are following since January of 2022, But you may not know why. Hi I'm Racheli Refael a mortgage advisor here in Sunny South Florida. Let me go over 5 reasons why this is happening and what you can do to prepare. The unfortunate thing is that all those forces are happening all at the same time like The perfect Storm. Artificially … [Read more...]
#FansFriday Would you rather be a peacock or a pigeon?
#FansFriday Would you rather be a peacock or a pigeon? Once, there was a happy little pigeon who lived at the edge of a forest. He spent his days in happiness and was generally satisfied with life. Then, one day he saw a beautiful swan. “That swan is so white,” he noticed, “and I am more of a dull grey. That swan must be the happiest bird in the world.” He confessed his thoughts to the swan. “Actually,” the swan replied, “I used to think that I was the happiest bird around until I saw a … [Read more...]
LLPA | Loan-Level Pricing Adjustments
What Is LLPA | Loan-Level Pricing Adjustments and how does it effect you when you obtain a home mortgage? A loan-level pricing adjustment (LLPA) is a risk-based fee assessed to mortgage borrowers using a conventional mortgage. It varies by borrower, based on loan traits such as: loan-to-value (LTV), credit score, occupancy type, Purchase Rate and term refinance or Cash Out refinance and number of units in a home1, 2, 3, 4 units. Borrowers often pay LLPAs in the form of … [Read more...]
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