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Condominiums can be a great option for buyers, but they are unique when it comes to mortgage financing. Unlike a single-family home, townhome, villa, or multi-family property, a condo loan involves two separate approvals: The borrower must qualify for the mortgage, and the condominium project itself must also meet the lender’s loan program...
Read MoreIf you’re in the cannabis industry, you’ve likely faced adversity when looking for financing. Traditional lenders don’t lend to anyone in the Schedule 1 category, including cannabis sellers, growers and other businesses in the supply chain. This often leaves cannabis self-employed business owners without the financing they need including a...
Read MoreAre you considering refinancing your home to save money, do some home improvements or consolidate bills? These days, it can be a really smart move, especially with home values trending upwards. Putting your home equity to work requires financing, and usually the first choice for most homeowners is a fixed-rate Conventional mortgage. The...
Read MoreIt's a check or sometimes a wire that is sent to the title company, not your lender, but through the title company in the transaction. The title company holds on to those funds throughout the transaction, and on the day of closing, it's released to the buyer. It might help to think of an Earnest Money Deposit sort of like a "down payment on your...
Read MoreWhether you're buying a home or selling a home, it takes a village to successfully pull off a real estate transaction. Most people are aware of the top 3, but there can be as many as 10 parties in a typical transaction. There can actually be more than ten. 1. BUYERS & SELLERS - this is a given, but technically, they're the most important....
Read MoreWhat’s the most common business in Florida real estate transactions? Is it: If you guessed Title Insurance Companies—congratulations, you're correct! (and yes, the title of the post kinda gave away the answer) A Title Insurance Company is a business that’s at the very center of nearly every single real estate transaction, whether it's a...
Read MoreVA appraisals are a type of home appraisal performed by a licensed Appraiser. They're very similar to a standard real estate appraisal report you'd expect to see on a Conventional Home Loan or FHA Home Loan. To be eligible to perform a VA Appraisal, a licensed appraiser is required to obtain a special certification, over and above their normal...
Read MoreWhether you're making your payments, you're in deferment, Income-Based Repayment (IBR), or even if you're in Forbearance, student loans will have an impact on your home loan approval. How much or how little? That depends on your exact situation, but here is everything you need to
Read MoreWhether you're single, married, divorced, separated or widowed, your marital status plays an important part in obtaining financing here in the state of Florida. It's one of the questions on the Uniform Residential Loan Application that every mortgage lender uses, from coast to
Read MoreIf you’re not a US citizen, but you want to set up roots in the state of Florida, you need a Foreign National Program with flexible underwriting guidelines and great rates. While the Foreign National Program isn’t the same as a traditional mortgage found at your local bank or credit union, it’s a great program for non-US citizens, offering many...
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