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.

 

interest rates

interest rates

 

Rising Interest Rates

 

As goes the economy, so go interest rates.  Home interest rates are no exception.  In fact, these are among the first financial indicators to gauge the economy’s condition.

From the economy’s lows back in 2009 until now, both interest rates and economic indicators have substantially improved.  While this is welcomed news, as the economy continues to improve and new jobs are added to the marketplace, interest rates will also continue to creep up, keeping equal pace.

For example, just one year ago, interest rates were hovering around 3.25% to 3.75%.  Today, these same rates are in the range of 4.25% to 4.75%, about 1% point higher.  While even still these are historically low rates, economic improvement will continue to see an increase in interest rates as well.

1% could make a dramatic difference in your monthly payment.

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.