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.

 

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.

Reverse mortgage

Reverse mortgage

 

What is a Reverse Mortgage?

While you may have heard about a reverse mortgage loan, do you really know what it is? When you hear “loan”, you conclude you owe something. However, when associated with “reverse”, what is its meaning?

Are you over 62 years old?  A reverse mortgage loan, or house equity conversion, is available to seniors 62 years old or older. This tool aids senior homeowners in their retirement years.  Why?  Because when their income is not as it was during their younger, more productive years, this tool allows seniors to transform a part of their home’s equity into a certain amount of money. Instant money is available to the elderly without needing to sell their house.  The also don’t need to make additional regularly monthly mortgage payments.

How a Reverse Mortgage Helps Seniors

Reverse mortgage loans permit senior citizens to access their home’s equity.  There are two ways you may this off. The repayment can be deferred until you pass away.  Or, you may liquidate it when you  vacate the house you currently own. Subsequently, this is a great opportunity for the elderly.   Since they make no payments, it provides liquidity in retirement. A reverse mortgage is an excellent financial tool.  The interest on the loan is added to the loan balance itself every month.

Why Work with Mario Quintero

Is a reverse mortgage right for you?  Are you still confused on the benefits this loan may provide you?  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. Mario’s 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 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.

Low Down Payment Closings

Low Down Payment Closings

In the last two weeks, STC Loans together with C and C Title Agency have been able to help two new families become first time buyers with low down payment closings.  We couldn’t be more thrilled for them.  Using our 5 % down conventional lender paid PMI, first time buyers Richard, Mickey and Nicole are well underway in early home ownership.  We extend a very special thanks to Laura M. Menendez, our senior loan processor and Carolyn Martinez of C and C Title Agency.

In 2017 conventional mortgage lenders introduced the 5% down loan and the lender pays for the PMI (private mortgage insurance) up front.  What a great program, facilitating the purchase of homes to first-time homebuyers.  In exchange for a slightly higher interest rate, young buyers can begin to experience the privilege of home ownership.

The monthly PMI is approximately half of what FHA loan pays.  The PMI will be reevaluated when the loan reaches 80% loan to value in order to be eliminated.  As opposed to FHA where the PMI is for the life of the loan.  The conventional lender paid PMI loan is for borrowers that have a minimum 640 FICO. The higher the FICO into the 700’s, the better the interest rate becomes.

This product is being used by many first-time home buyers because of the monthly savings on the PMI.  The product can be used up to the new conventional lending loan limits which have recently increased to 455,000.

Why Work with Mario Quintero

Do you know any young people starting out who could benefit from this amazing program?  How many of us would not have liked this opportunity starting out?  Are you in the market looking to buy, sell, rent or lease a property? Mario Quintero has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

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 VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Miami Real Estate

Miami Real Estate

courtesy of World Property Journal

Miami Real Estate Market is 4th Largest in the US

Miami ranks 4th in the nation in total home value. According to Zillow, the total value of all homes in the United States in early January 2018 is now $31.8 trillion after gaining $2 trillion in 2017.  The cumulative value of the U.S. housing market grew at its fastest annual pace – 6.5 percent – in four years. Moreover, the value of all U.S. homes rose 8 percent annually in the early stages of the housing recovery in 2013.

Fast FAQs:

  • Total U.S. housing market gained $2 trillion in value in 2017.
  • The value of all U.S. homes grew 6.5 percent in 2017, the fastest pace in four years.
  • Los Angeles, New York and San Francisco are the most valuable housing markets, each worth more than $1 trillion.

For many households, a home is the single largest source of wealth, but the collapse of the housing market and the ensuing Great Recession demonstrated the importance of housing to the U.S. economy as well. The housing market has gained $9 trillion since the lowest levels of the recession.

 

A Record Year

The value gained in 2017 alone is equivalent to more than the valuation of two companies the size of Apple. Over the past year, the U.S. housing market has gained $1.95 trillion, while Apple recently hit a market value of $900 billion, the first U.S. company to do so.

This was a record year for home values as the national housing stock reached record heights in 2017,” said Zillow® Senior Economist Aaron Terrazas. “Strong demand from buyers and the ongoing inventory shortage keep pushing values higher, especially in some of the nation’s booming coastal markets. Renters spent more than ever on rent this year, but the amount they spent grew at the slowest pace in recent years as more renters transitioned into homeownership and new rental supply slowed rent growth across the country. Despite recent changes to federal tax laws that have historically made homeownership financially attractive, the long-term dynamics pushing up home values and rents are unlikely to change significantly in 2018.”

Combined-Worth-of-All-U.S.-Homes.png

Why Work with Mario Quintero

Do you doubt what our good friends at CNBC are predicting?  Home prices are set to rise in Miami and across the entire USA.  Are you in the market looking to buy, sell, rent or lease a property? Mario Quintero has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

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 VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Home Prices in Miami

Home Prices in Miami

Home Prices Are Set to Soar in 2018

courtesy of Diana Olick, CNBC

The temperature may be frigid across much of the nation, yet home prices are sizzling and sellers are in the hot seat.  Home prices in Miami will also continue to rise.  Will you be ready and buy prior to this increase or will you be left behind?

Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic.

That is the third straight month at that pace, far higher than the price gains in the first half of 2017. Low supply and high demand are fueling the spurt and neither of those is expected to ease up anytime soon.

Supply is actually falling even more now, and a strengthening economy is pushing demand. This will have potential buyers out early this year, trying to get a jump on the spring market.

“Rising home prices are good news for home sellers, but add to the challenges that home buyers face,” said Frank Nothaft, chief economist at CoreLogic, in the report. Nothaft said the limited supply is the worst at the lower end, and will hit the growing number of first-time buyers hardest.

Without a significant jump in home construction, prices will remain high and likely move higher. Mortgage rates could also move slightly higher, and new tax policy limiting mortgage and property tax deductions, is hitting homeowners in some states hard.

Why Work with Mario Quintero

Do you doubt what our good friends at CNBC are predicting?  Home prices are set to rise in Miami and across the entire USA.  Are you in the market looking to buy, sell, rent or lease a property? Mario Quintero has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

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 VA, conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

 

Happy New Year

Happy New Year

Happy New Year from STC Loans

2017 brought many changes and growth to STC Loans. This year saw the company transition into a full-service real estate firm, able to not only provide mortgage financing, but help you find your perfect home as a full real estate agency. Additionally, we have our own title company able to provide full title search on your properties.

Just a few weeks ago, STC Loans also celebrated its 15-year anniversary in the real estate and property mortgage business.

“We’re your one-stop shop for real estate needs. From finding your perfect home, to financing and and being able to close on an efficient and timely basis, STC Loans can do all of this for you,” per our Mario Quintero.   “We know you’re busy and value your time. As they say, ‘time is money’. We handle everything for you in one convenient location.”

As 2017 comes to a close, we thank you, our valued client, for having helped STC Loans achieve continued growth in order to better service you.

The entire team at STC Loans is here for the long haul and are ready, willing and able to assist in all your real estate needs. From the first-time buyer to a home refinance to a reverse mortgage, STC Loans will handle any these for you to ensure a timely and effective transaction.

Trust Mario Quintero and STC Loans – call 305-598-1600 today! 

Why Work with Mario Quintero

Are you in the market looking to buy, sell, rent or lease a property? Mario Quintero has been in the mortgage business since 2002. Mario’s experience is tested and true. Mario has helped hundreds of families purchase their dream homes and secure competitive financing.

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 VA, 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.