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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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Hi guys and gals,

I have been very busy over the last two months and because of the increase in activity I have not written in a while. I promise to keep bringing you good information. I am also adding new tools, features, and listings to the site. I will be adding a mortgage loan calculator as well.

I can not take the credit on this one. This idea actually came to me from my wife. Brilliant, stared me right in the face and I never thought twice about it. Sometimes when you use a tool so often it can be easily over looked.

Anyways with out further adu, here it is. The Ft. Lauderdale Mortgage Loan Calculator.

It is very simple to use. First you put in the amount that you would like to mortgage so if you are buying a home $103, 627.  Then your loan amount would be $100,000 if you choose a FHA mortgage because you can only finance 96.5% of your purchase price.

Second you are going to choose a Ft. Lauderdale Mortgage interest rate. You can use anything between 5% and 6%. This will give you a good idea of how much your new monthly payment will be.

Lastly, you need to put in the amortization period. This is the amount of time it will take you to pay back the entire loan. So if you would like to pay it back sooner, then you would choose a 15 year mortgage. Keep in mind that the longer it takes to pay back a mortgage loan, the higher the interest rate and the lower the payment. Your options are 15, 20 and 30 years. If you have any questions on how to use the Ft Lauderdale Mortgage Loan Calculator, please let us know by writting an email to info@fortlauderdaleloanfha.com. Have fun!

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Hi guys,

First I want to wish you a happy and safe memorial day. Take a look around you guys. If you did not know what time of year it is, I am going to tell you. It is spring time and the best time to look at Fort Lauderdale Homes for Sale.  If you are entertaining the thought of moving, relocating or trying to get into a better school district (like me), then now is the time.

In Fort Lauderdale, homes are at the best prices in 15 years. Quick story. My mom bought a town house in Miami in1990 for $53,000. During the peak of the real estate market it was worth $220,000. She chose not to sell it. I thought she was crazy. Today that property is worth 135,000.  My mom could care less about the price of the home because the house is a keeper. Why? You asked. She is in a tripple A school district so the home remains in high demand. It remains rented year after year because of the school district. She can sell when ever she wants no matter what the market is doing. Whoever says mom knows best was right. At least in this case.

Although I typically focus on the financial aspects of home buying because it is my expertise. You must still remember the basics of real estate. No matter what the price or location of you next Fort Lauderdale Home for Sale, a huge selling point of any home is the school district when you are thinking about your next home keep this in mind. If you  plan on having a family in the future, it should be a concern. 

So remember, when you are out there in the market looking for your next Fort Lauderdale home for sale or South Florida home for sale, feel free to take my moms advice or contact us for help buying that next home.

Hi guys and happy Friday,

Just wanted to touch base with everyone and remind them that cheaters never prosper. Especially with Ft. Lauderdale mortgages, they are being more scrutinized. You can not be getting away with the stuff that use to fly. You can not buy a house with out showing income or try and passoff a investment property as a primary residence.

I am going to give you a quick example. First a borrower from out of state who is a very affluent fellow decides now is the time to gobble up houses. So he decides to finance some and pay cash for some. He accidentally forgets to put on his loan application that he has already bought some houses. He thinks that it is not a big deal to omit it the properties he has just bought in the last two months. Besides they wont show up on his credit because he paid cash for them. Regardless he can afford to carry the properties because he makes great money.

Here is the problem. All Ft. Lauderdale Mortgages are being registered by lenders and banks in a database and so are the ones that do not get mortgages. Why are they doing this?  To prevent fraud. People are claiming investment homes as primary residences so that they can get an FHA insured mortgage. Or they are claiming investment properties as second homes. In the case of this borrower, he had bought a house in the same city as a second home already and was trying to buy another in the same fashion.

His brazen attempt to beat the system has landed him on the banned list in Ft. Lauderdale Mortgage circles. He is done. Bottom line dont lie on your application. You are trying to buy or refinance during the Great Recession.

Thats all folks. I will be giving you market conditions on my twitter. So you can follow me there at http://twitter.com/LoanFha or you can just follow me on this site. Have a great weekend and keep the questions coming.

Good Day all,

I wanted to take the time today to mention how important it is for someone to take care of their credit.  Do you know how credit can affect you getting a Ft. Lauderdale Mortgage? The fact the the FHA program is not a credit score driven program, doesn’t mean you should not care about your credit before you apply.

If you dont then you end up buying this :

Bad Credit = Ugly Home

Now if you dont want to end up buying this house or living in a neighborhood where this house exists, then you have to do something about your credit before you apply for a Ft. Lauderdale Mortgage. That Simple. Now I did not say it was easy. The difference in what you can purchase, what your monthly payment will be, what your interest rate will be and the points and fees on your mortgage is huge.

For example you have a 540 credit score (BAD CREDIT) and you want to buy a home. Your interest rate would be anywhere between 2.25% to 2.75% higher than the market rate.

Lets say you have a 680 credit score(average credit score) your Ft. Lauderdale mortgage interest rate is only .25% to .375% higher than the market. You can get a house that looks like this

You can get a house like this with good credit

This is just for explanation purposes and I might have exagerated just a little. Here is the truth of the matter. You could have a 540 credit score pay alot more in origination fees, broker points and loan discount fees or you could not. Folks do not realize how much can be done when working with a professional. Personally my team here uses Linda Shorr with Regal Credit.

We use her and her services because she is honest, dependable and does not price gouge. Oh and of course she has a track record of fixing our clients credit with great success. On Friday, we helped someone that could not refinance and go from a 548 to a 640 credit score. Saving the client both time and money. It is a no brainer to pay $400 dollars upfront to get your credit fixed as opposed to paying $40,000 in higher fees and higher interest rates over the life of the loan. My advice to you is clean up the credit before you buy or refinance your Ft. Lauderdale Mortgage