Friday the 13th

Friday the 13th

 

from History.com and Wikipedia.com

The History of Friday the 13th

Long considered a harbinger of bad luck, Friday the 13th has inspired a late 19th-century secret society, an early 20th-century novel, a horror film franchise and not one but two unwieldy terms—paraskavedekatriaphobia and friggatriskaidekaphobia—that describe fear of this supposedly unlucky day.

Just like walking under a ladder, crossing paths with a black cat or breaking a mirror, many people hold fast to the belief that Friday the 13th brings bad luck. Though it’s uncertain exactly when this particular tradition began, negative superstitions have swirled around the number 13 for centuries.

Why is Friday the 13th Unlucky?

The superstition surrounding this day may have arisen in the Middle Ages, “originating from the story of Jesus’ last supper and crucifixion” in which there were 13 individuals present in the Upper Room on the 13th of Nisan Maundy Thursday, the night before his death on Good Friday.[3][4]While there is evidence of both Friday[5] and the number 13 being considered unlucky, there is no record of the two items being referred to as especially unlucky in conjunction before the 19th century.[

Why Work with Mario Quintero?

What could be worse on a Friday the 13th than to find you dream home and not be pre-approved for it!  Need help financing a property?  Are you having difficulty finding a property?  Are you in the market to purchase or refinance?  We have helped many repeat clients both purchase and refinance their homes.  Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

Home buying in Miami

Home buying in Miami

 

Home buying market so brutal, some home buyers make offer sight unseen

from CNBC

This spring home-buying season should be a coming-out party for Millennials, many of whom are finally ready to make a purchase after hunkering down for years in their parents’ basements or expensive apartments.

The only problem: Much of the food at the party is gone, and what’s left is priced like caviar.

Although solid job and income growth is emboldening many prospective home buyers, record low housing supplies are driving up prices and curbing sales, especially for Millennials looking to buy starter homes.

 “For home buyers, this is shaping up to be one of the most difficult years in recent memory,” says Ralph McLaughlin, chief economist of Veritas Urbis Economics, which studies the housing market.

For sellers, it will be a standout spring that brings big profits, unless those sellers themselves are looking to buy a larger home in the same metro area. “It’s going to have the feel of a hot market,” marked by multiple offers and bidding wars, says Lawrence Yun, chief economist of the National Association of Realtors (NAR).

Why? Too many buyers chasing too few homes. In February, there was a 3.4-month supply of existing homes nationally, the lowest on record for that month and substantially below a balanced six-month inventory.  And,  the number of starter homes is down 14.2% in the first quarter from a year ago, according to real estate research firm Trulia.

 

Why Work with Mario Quintero?

Are you having difficulty finding a property?  Are you in the market to purchase or refinance?  Don’t buy your most valuable asset site unseen. We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

 

 

Passover and Easter

Passover and Easter

Wishing you a Happy Easter and Passover in Miami

This week in Miami brings us spring break for public and most private schools. Additionally, we celebrate high holidays for both the Jewish and Christian faiths. Easter and Passover celebrations symbolize the most solemn of religious occasions. Both usually tend to fall around the same time of the year in springtime.

Have a look at high holiday activities around Miami for your family for both Passover and Easter.

Springtime is a time of renewal and refreshing, both spiritual and physical. We put the winter behind us and concentrate on ending the kids’ school year and getting ready for summer.

It is also a time when many homes go on the market. Individuals purchase and/or sell properties now, during springtime.

 

Why Work with Mario Quintero

Whether you want to buy for the first time, refinance your existing loan,  purchase an investment property,  or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

 

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

Home sales increasing

Home sales increasing

courtesy of CNBC

What slow down?

Home sales rebounded more strongly than expected in February, and the National Association of Realtors says they could have been even higher if there were more homes for sale.  It appears that nationwide, home sales are increasing.

A critical shortage of listings is the No. 1 obstacle, especially in higher price ranges — not rising mortgage rates or new tax laws that reduce certain homeowner deductions.  Sales at the lowest end of the market, however, homes priced under $100,000, were down 16.5 percent compared with a year ago.

Realtors polled for the monthly survey said they are hearing very few concerns from buyers about rising mortgage rates or the new tax laws, even fewer concerns than in December, when the tax laws were in final debate. That is not the case for potential sellers.

Mortgage rates are not historically high today, but they are about half a percentage point higher since the start of this year and are clearly on an upward trajectory.

 

The number of homes for sale did increase slightly in February, which always happens as the busy spring market approaches, but supply is still down more than 8 percent from a year ago; supply is up on the high end and far lower on the low end of the market. Homebuilders continue to build higher-end homes as well, because rising costs for land, labor and materials have shrunk their margins for entry-level homes.

Shortage on the lower end is likely why first-time homebuyers pulled back in February. There had been a surge in this cohort last year, but clearly affordability and supply is weighing more heavily on them now.

Why Work with Mario Quintero?

Are you in the market to purchase or refinance?  We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

St. Patrick's Day

St. Patrick’s Day

St. Patrick’s Day Safety Precautions

 

Drinking and Driving with a Friend

While St. Patrick’s Day always conjures up images of festive parades along with bar-hopping and beer drinking parties, unfortunately, many forego the safety precautions associated with the same.  It’s great to have holidays and reasons to enjoy the festivities.  But, it’s equally as important to remember to practice caution and take safety measures while enjoying your activities.  Why not be proactive with some St. Patrick’s Day safety precautions?

One alcoholic drink too many could have serious consequences to your life and the life of others. Is it really worth it?  Isn’t it easier to hand the keys off to someone else and have them be your designated driver?

If you’re looking for some good and safe fun events to attend this St. Patrick’s Day, have a look here at the Miami New Times keeping you up to date with South Florida’s best activities.

Why Work with Mario Quintero?

So, definitely enjoy your St. Patrick’s Day weekend, but please, be safe.  Are you in the market to purchase or refinance?  We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

Miami house flipping

Miami house flipping

 

courtesy of CNBC

House Flipping – At An All-Time High

More and more people are flipping houses — the most in 10 years – but they are reaping smaller rewards. High home prices, hot competition and very, very few available homes to buy are combining to make this popular trade ever more risky.

Just more than 207,000 homes were flipped in 2017, according to a new report from Attom Data Solutions, which defines a flip as a property bought and sold in the same 12-month period. That is the highest number of flips in a decade. The number of people or companies flipping homes, 138,410, also jumped to a decade high.

Today’s flippers, however, are nothing like those of a decade ago, who used cheap and easy money to finance their trades.

 “The surge in home flipping in the last three years is built on a more fundamentally sound foundation than the flipping frenzy that we witnessed a little more than a decade ago,” said Daren Blomquist, senior vice president at Attom Data Solutions. “While financing for flippers has become more readily available in recent years, 65 percent of flippers still used cash to buy homes flipped in 2017, nearly the reverse of 2004 to 2006, when 63 percent of flippers were leveraging financing to buy.”

Today’s flippers are seeing bigger gross flipping returns in dollar figures because they’re dealing with much higher home prices and margins, but they are also putting more money into the projects, making the net return lower. The average gross flipping return on investment last year was 49.8 percent, down from 51.9 percent in 2016.

“You have to be able to get in for a low enough price, it has to be a hot enough neighborhood and you have to know exactly what the build is going to entail,” he said.

Why Work with Mario Quintero?

Are you in the market to purchase a fixer upper?  We have helped many repeat clients purchase similar properties and either keep them for themselves or use as an investment. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

higher interest rates

rising interest rates

 

Rising Interest Rates on the Horizon

We’ve said it time and time again. As a result of the improved economy, mortgage rates are rising. Hovering in the high 4 percentile rate now, if you have not already locked in your mortgage rate, do it quickly. Whether you are buying a home or refinancing an existing mortgage, lock in your lower rates today.  Indeed, rising interest rates are on the horizon.

Despite growth in both mortgage rates and home prices, housing demand kicked off 2018 with its strongest January on record. So even with the higher mortgage rates, demand for homes is the highest it’s ever been.

According to National Mortgage News, “The rise in housing demand this year could be a sign that prospective homebuyers are anticipating further growth in mortgage rates.  According to experts, mortgage rates are expected to near 5% by the end of the year.

Why Work with Mario Quintero?

Are you in the market to either purchase a property or refinance your existing mortgage?  Are you confused about the options in the marketplace?  Have a look at your options with Mario Quintero of STC Loans. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.
Call me today at 305-598-1600 or contact me here.

 

 

 

 

 

Reverse Mortgage for New Home Purchase

Reverse mortgage for seniors

 

How a Reverse Mortgage Helps Seniors

As you enter retirement, and no longer have a steady work income, you may not have sufficient funds to retire comfortably.  Life changes and suddenly, you feel strapped. Ultimately, you feel unable to take advantage of your free time in order to enjoy life in retirement.  Have you ever considered a reverse mortgage for seniors?

Reverse mortgage loans allow senior citizens to access their home’s equity. As a result, the repayment is deferred.  Or, you may liquidate it when you vacate the house you currently own. This is a great opportunity for seniors.   The loan provides liquidity during retirement since no payments are required.  A reverse mortgage is an excellent financial tool to help supplement funds while retired.  Interest on the loan is added to the loan balance every month.

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Are you confused on the benefits this loan offers?  Take a look at your options.  Mario Quintero of STC Loans  can help you as he has been in the reverse mortgage business since 2002. Mario is experienced. He has helped thousands of seniors secure and supplement their retirement with a reverse mortgage.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

No PMI Loans

Home Loans

Generational Buying

While it can be one of the most gratifying experiences ever, purchasing a home can also be one of the most nerve-wracking experiences, too. Between all of the properties available from which to choose to deciphering bank and interest rates fees for home loans, points, no points, closing costs, etc., – it can be overwhelming.

Recently we helped the first-time buyer children of one of our regular clients. The couple had selected a new home construction from our home builder of choice, Lennar Homes. During their negotiation, they received all sorts of incentives. We helped guide them along their process, since it was their first time purchasing a property.

This was the third generation in this particularly family we’ve helped purchase a home.

Once the couple secured their home with all the negotiated amenities, financing had to be decided upon. Rather than “leaving them to the wolves” of the banking and home financing industry, our team at STC Loans helped guide them. We helped make their home finance seamless. This young couple didn’t have to worry about whether to points or what term length or fixed vs. adjustable. Our team secured the most competitive fixed conventional loan rate available in the market.

When you think about it, STC Loans provides boutique service. In other words, personalized attention, drama-free, seamless, is what you’ll get with Mario Quintero’s team?

Isn’t this what you’d like for yourself, your family and your friends?

Why Work with Mario Quintero?

Do you have children, friends or other relatives in the market to either purchase a property or refinance? Are you confused about all the options available in the marketplace? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .
Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

New Loan Limits

New Home Loan Limits

from the FHFA website

 

Fannie Mae and Freddie Mac Baseline Limit Will Increase to $453,100

 

Did you know the FHFA announced new maximum conforming loan limits for 2018?

 

In late 2017, the, The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018.  As a result, in most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017.

 

Baseline limit

The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the average U.S. home price.  In late November, FHFA published its third quarter 2017 House Price Index (HPI) report, which includes estimates for the increase in the average U.S. home value over the last four quarters.  According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.8 percent, on average, between the third quarters of 2016 and 2017.  Therefore, the baseline maximum conforming loan limit in 2018 will increase by the same percentage.

 

High-cost area limits

For areas in which 115 percent of the local median home value exceeds the baseline conforming loan limit the maximum loan limit will be higher than the baseline loan limit.  HERA establishes the maximum loan limit in those areas as a multiple of the area median home value, while setting a “ceiling” on that limit of 150 percent of the baseline loan limit.  Median home values generally increased in high-cost areas in 2017, driving up the maximum loan limits in many areas.  The new ceiling loan limit for one-unit properties in most high-cost areas will be $679,650 — or 150 percent of $453,100.

Why Work with Mario Quintero?

Are you in the market to either purchase a property or refinance your existing mortgage?  Are you confused about all the options available in the marketplace?  Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the real estate mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and improve competitive real estate mortgage interest rates .

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.
Call me today at 305-598-1600 or contact me here.