Hi all,

We added a great new partner here at Fort Lauderdale Loan FHA. He is the top Real Estate Agent in the Plantation area. He specializes in getting the hard deals done. A few weeks back, I met with him because we are always looking for A+ professional realtors.

I challenged him and he has surpassed his expectations and mine. He currently has over 58 Listings.  58 different families are currently trusting him to sell their properties.  Would you? You wont know until you speak to him directly. Now I could post all 58 listings here or… you could just go this site to view them all.  http://jose.valuedagent.com/

Either way he is great. Whether you are buying or selling in the Plantation area he is definitely on the short list of realtors that you can count on. Thanks for all your contributions Jose. Feel free to contact him at 954-668-7038.

Lets face it, no matter what we are shopping for these days, we are confronted by a lot of choices, whether it’s laundry detergent, plasma TVs or cars. If you are like me, when you start shopping for a big ticket item, you do some research before hand. Unfortunately, that doesn’t always make the choice easy. There is a lot of accurate and inaccurate information floating around on the Internet about Ft. Lauderdale Mortgages.

Information is power. Lenders have more information than borrowers, and this gives them a tactical advantage. For example in Ft. Lauderdale mortgage rates fluctuate on a daily basis sometimes as many as 10 times in the day. Will you as the borrower know when the rate changes? Not unless you know how to read candlestick charts and can track live mortgage bond trading all through out the day. Mortgage Bonds are sold on the bond market all day. Because the lenders can monitor the fluctuation in mortgage bond rates they can change the interest rate they charge you to match the market.

For example, you walk into a bank at 9am and make application for a new loan and get quoted a 6% rate. Then another customer walks into the bank and makes application at 10:30am and this person gets quoted a 5.5% rate. Both people are getting the same mortgage, have exactly the same credit scores, and have the same exact ability to pay back the loan. Think it cant happen? It happens more often than you want to know. Everyone that I ever speak with wants the best rate, what they fail to realize is that you can never get the best rate because it is a moving target.

Ft. Lauderdale mortgage lenders and banks know this, so you get quoted a price at the time you apply and if the rates get better your are not made aware. And if rates get worst, you will not get the rate that you were quoted and if they offer it to you, you will have to pay to get the rate. Bottom line guys, you have two options lock the rate at the time of application if you are happy with what you are being quoted and if you are really trying to get the best deal you need to work with a mortgage professional that tracks mortgage bond rates and gives you the heads up when rates are getting better or worse.

Thats all folks….

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As you may or may not know I have been a resident of Fort Lauderdale for 7 plus years. In that time, I have noticed that many people and families come here from other parts of the country. For the people that like the weather, like the lifestyle and the fast pace they typically stay here. And for the rest of the people typically stay in South Florida temporarily.

Just yesterday I spoke to an old colleague that left Fort Lauderdale to go to Detroit Michigan. Thats right I said it DETROIT!! When I spoke to her she said that she found the man of her dreams and was going to marry him. Thats great for her buty she still traded Fort Lauderdale, FL for Detroit, MI.

I figured I could help everyone out that lives here. Your friends and family may need to move. Here is a new tool that I found that will help you find property in other states.

Just click on this link.To find Florida MLS Listings use eLookyLoo.com to search for your next home.

Good Luck and have a good weekend.

Unless you have been living in a cave or don’t come into contact with people on a daily basis then you know that America is having pretty tough economic times. Both the current Obama administration and the previous Bush administration have been addressing it by expanding the Fort Lauderdale area FHA Home Loan programs.

FHA mortgages are feeding the purchase market in Fort Lauderdale. Why? Because, conventional financing has dissapeared. No longer are there programs that will allow you to buy with “No Money Down”. The 2 large companies that wrote the rules on how to lend were government sponsored agencies are Fannie Mae and Freddie Mac. During the real estate boom of the 2000′s, these two companies drove the market up. They became riskier as the years went buy because of the lack of oversight, greed, corruption within the ranks, and more importantly the demand for mortgages.  Their lack of properly reviewing the borrowers credentials to afford a home led to their ultimate demise and the US Government bailing them out and taking over.

Now, how does that affect us down here in Fort Lauderdale and the rest of South Florida? Well it means that the only mortgage to be had is an FHA mortgage. Well…that is not completely accurate. It just depends on a combination of credit, down payment and proof of income. Their is always an exception to the rule.

Basically, as stated in previous posts, lending is becoming exactly like the motto for the state of Missouri. Banks and lending institutions have become the show me state. For many people in Fort Lauderdale that can not prove their income, are in the hospitality Business, or choose to hide their income through their companies, they will have more limited opportunities. For the people in Fort Lauderdale and the surronding areas, that choose to prove their income. Their is alot of opportunity to get a nice piece of Real Estate.

You better hurry though. This will not last forever. If you are looking to make a move but are waiting for the bottom of the market, you could miss the opporunity you have been waiting for.

Hi guys and gals,

I am starting this topic because it is such a hot topic. It consumes every conversation I have with a borrower/home buyer. What is the Fort Lauderale FHA Loan Interest Rate?

In a nutshell,  FHA loan rates or any other mortgage rate is controlled by the mortgage bond market. So when investors and money managers are deciding and how best to invest their money, they look at stocks, bonds(mortgage bonds in our case) and other financial instruments. Why, because that is the job of a money manager and investors. BUT THAT IS NOT THE ONLY COMPONENT IN A FHA LOAN INTEREST RATE! 

So how does that affect us hear in Fort Lauderdale? When you are looking for the best FHA Loan interest rate, there are 3 basic components. 

1. Credit Score
2. Collateral
3. Cash

 Credit, there is a minimum credit score requirement with all lenders. Why? because the investors that are buying these loans expect a certain return for their money. In order to guarantee that someone will pay back a loan a credit score is used to determine some one’s prior payment history. So if you are likely to pay your bills than you are likely to pay back a FHA Mortgage loan. The better the score, the better chance you have of getting a great rate.

Collateral, what does that mean? It means that in Fort Lauderdale your single family home, town home, condo or other property type is what you will use as collateral for the lending institution. In other words you are pledging or guaranteeing a piece of property to a mortgage.

Cash, literally how much cash you make. Or how much income you can prove that you make. For example, in Fort Lauderdale you are a self employed widget maker. If you declare $500,000 in sales and only $50,00 of that is taxable income, then that is what is used to qualify you. ***Not true in all circumstances, it depends on your tax return.*** If you are an employee of a company it is pretty straight forward, show me your W2 and I will tell you what you qualify for. ***There are also some extra income that could be added if documented properly.***

So basically what determines your Fort Lauderdale FHA Loan mortgage interest rate is a combination of factors. It depends on what and what direction the market is doing and it depends on the 3 C’s. The 3 C’s are credit collateral and cash. Until tomorrow.