Buy property in Miami

Buy Property in Miami

Reprinted from Realtor Magazine

Yes, It’s Still More Affordable to Buy Than Rent

 

Buy Property in Miami

DAILY REAL ESTATE NEWS | TUESDAY, JANUARY 10, 2017
In about two-thirds of the country – or 66 percent of the largest U.S. counties – it’s more affordable to buy a home than to rent one, according to a report by ATTOM Data Solutions.

They compared the monthly rents of three-bedroom apartments to monthly payments on median-priced homes (including the mortgages, property taxes, and insurance) across 540 counties.

Read more: Housing Markets Move More Into Buy Zone
“It feels like buying a home is getting tougher and tougher from an affordability standpoint,” says Daren Blomquist, ATTOM’s senior vice president. “But the low interest rates have really helped.”

Mortgage rates, however, are expected to rise in the near future. That could dampen the affordability prospects in the future.

“Even a fairly slight increase in mortgage rates could flip the equation and make it more affordable to rent than to buy,” Blomquist says.

According to the report, rents have been surging faster than home prices in about 27 percent of the markets measured.

Buy Property in Miami

In the country’s most populated counties, the following places topped the list as most affordable to buy than rent: Cook County (Chicago), Ill.; Maricopa County (Phoenix), Arizona, Miami-Dade County, Fla.; San Bernardino County, Cal. in inland Southern California; Clark County (Las Vegas), Nev.; Tarrant County, Texas in the Dallas metro area; Wayne County (Detroit), Mich.; Broward County, Fla. in the Miami metro area; Bexar County (San Antonio), Texas; and Philadelphia County, Pa.

 

Why Work with Mario Quintero

NOW is the time to buy in Miami-Dade County, as per the above piece by Realtor Magazine. Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker. Don’t attempt to negotiate on the purchase of your home on your own. Mario helps you reach the best price through his extensive negotiating skills.

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.

Jumbo home loans Miami

Jumbo home loans Miami

 

Jumbo Home Loans Miami

In many areas of the USA, it’s possible to find a great single family home for less than $250,000.  However, in other parts of the USA, particularly more urban areas, like Miami, that amount will cover your down payment.   Larger cities tend to have a higher cost of living.  Therefore, the cost of housing will also be higher, too.  As a result, many home buyers will need to secure a jumbo mortgage in order to purchase the home of their dreams.   Jumbo home loans Miami work pretty much the same way.

What is a jumbo loan mortgage?

A jumbo mortgage loan is a home loan for an amount that exceeds conforming mortgage loan limits set by housing regulators. Jumbo loans are not for unlimited mortgage amounts, though.  There are limits to this, depending upon where you live in the USA. This amount may vary.

In order to qualify for a jumbo loan, as the potential buyer, the paperwork you must fill out is pretty much the same as with a conventional mortgage.  Depending upon the lender, some may require two appraisals as opposed to just one.  Higher than average credit scores are typically required.  Low debt-to-income ratios, too.

Additionally, most jumbo loan lenders will require that you higher than average cash reserves available to cover the new mortgage payment.  Moreover, a higher down payment may also be required.  Typically, the down payment would be no less than 20% of the purchase price of your home.   Closing costs associated with jumbo loans also tend to be higher than with conforming loans.  Because of this, the lender may require you have larger amounts of liquid assets such as cash, available to complete the closing transaction on your new home.

 

Why Work with Mario Quintero

Do you think you qualify for a jumbo home loan Miami? Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker. Don’t attempt to negotiate on the purchase of your home on your own. Mario helps you reach the best price through his extensive negotiating skills.

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's Animal Lover Realtor

Miami’s Animal Lover Realtor

 

Healthy Pets Save Money

We love our pets, but they can be expensive to care for, especially as they age.  Because of this, you never want to have to choose between your pet and your bank balance.  Since I have the opportunity to meet many pets on a regular basis, when I visit my clients’ homes, they just call me, “Miami’s Animal Lover Realtor”.  So, consider these simple tips for saving money while keeping Fido or Fluffy healthy and happy:

  • Get regular checkups. The money you spend on vaccinations, spaying/neutering, and routine medical care will pay off in preventing more expensive illnesses later.
  • Groom at home. Lots of grooming – brushing, washing, clipping claws – can be done on your own. Also learn to do the unpleasant tasks of cleaning ears and anal glands.
  • Get annual dental care. Talk to your vet about keeping your pet’s teeth clean and preventing infections. Dental problems are one of the leading causes of dog or cat health problems as they age.
  • Consider pet insurance. Shop around for some insurance to cover medical care in the event of an emergency.

Miami’s Animal Lover Realtor

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

Our valued customers, colleagues, and friends refer their family members, coworkers, neighbors and other people they know to us for advice on any aspect of mortgage financing. It is our burning desire to build a business based on strong, lasting, lifelong relationships, one person at a time, through confidence and trust. I look forward to hearing from you and I can be contacted via email.

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.

VA Loans for Veterans Living in Florida

VA Loans for Veterans Living in Florida

VA Loans for Veterans Living in Florida

Being a US veteran has its benefits.  After all, this country owes veterans a debt of gratitude.  Therefore, the least we can do, among other things, is offer advantageous benefits to veterans such as competitive VA loans for veterans living in Florida.

Says Allison A. Hickey, VA’s Undersecretary for Benefits: “This vital program offers veterans, service members and their families the keys to homeownership and is truly a testament to our nation’s commitment to enhancing the lives of those who served our country.”

Here is a listing of  just a few of the benefits offered to veterans through VA loans for veterans living in Florida:

 

  • low interest rates than those of conventional loans (call our office at 305-598-1600 for current levels)
  • no down payment needed (if the purchase price doesn’t exceed the appraised value)
  • No private mortgage insurance required on loans of more than 80% of a home’s appraised value (which can often save borrowers $100 to $200 a month)
  • Limits on closing costs
  • No minimum credit score required
  • No prepayment penalty for eliminating your mortgage ahead of schedule

 

Why Work with Mario Quintero

Are you a veteran looking to both purchase and secure mortgage financing? Buying a home isn’t just a matter of finding the right house. Negotiating and reaching a workable price level work hand in hand. You must secure mortgage financing to purchase your dream home. Because of this, as a trusted Miami realtor and efficient Miami mortgage broker, Mario will help your dream home become a reality.

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker. Don’t attempt to negotiate on the purchase of your home on your own. Mario helps you reach the best price through his extensive negotiating skills.

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 you VA loan for veterans, 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 Year's Resolutions

New Year’s Resolutions

 

New Year’s Resolutions

It’s still early on in the year.  How are your new year’s resolutions coming along?  Most Americans make these resolutions hoping to bring about significant change in their lifestyles.  But usually, by the 3rd or 4th week of January, they’ve forgotten about them and return to their regular habits.  They fail to recognize the power such changes in habits will make in their lives.

Adults who change their lifestyles can decrease their chances of developing heart disease later in life, according to a study conducted by the Northwestern University Feinberg School of Medicine.  Researchers collected data on lifestyle habits of approximately 5,000 participants between the ages of 18 and 30, then analyzed the status of their health 20 years later.

They found that 25 percent of participants who had adopted at least one healthy habit (maintaining a healthy weight, not smoking, exercising etc.) had cut their risk of developing heart disease.  The 40 percent who had dropped one or more healthy practices had actually increased their chances of cardiac problems.

The takeaway:  Dropping unhealthy habits at any age can have a positive effect on your heart health.  So don’t assume you can’t help yourself just because you’ve pursued the wrong patch up until now.

Why Work with Mario Quintero

 

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

Our valued customers, colleagues, and friends refer their family members, coworkers, neighbors and other people they know to us for advice on any aspect of mortgage financing. It is our burning desire to build a business based on strong, lasting, lifelong relationships, one person at a time, through confidence and trust. I look forward to hearing from you and I can be contacted via email.

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 job loss preparation

Miami job loss preparation

Miami Job Loss Preparation

 

Are you prepared?

While it’s the beginning of a new year and we’re full of much hope and optimism, any of us could lose our jobs at any time for different reasons.  Are you prepared?

Here are 3 advice tips from financial experts:

  1. Have at least six months’ worth of living expenses on hand.
  2. In addition to your emergency fund, you should also have on hand an emergency credit card with the largest credit limit for which you can qualify.  Apply for this card before an emergency hits, as credit cards companies are more likely to grant you approval while you have a steady income. Save this card for unusual expenses that go above and beyond your six months of padding.
  3. As soon as you emergency hits, stay level-headed about finances.  Cancel unnecessary services, such as cable TV.  Consider trading in the car with a high payment.  Shop for less expensive food and drink.  Just by watching what you spend, you can save several hundreds of dollars per month.

 

Why Work with Mario Quintero

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

Our valued customers, colleagues, and friends refer their family members, coworkers, neighbors and other people they know to us for advice on any aspect of  mortgage financing. It is our burning desire to build a business based on strong, lasting, lifelong relationships, one person at a time, through confidence and trust. I look forward to hearing from you and I can be contacted via email.

 

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 conventional home loans

Miami conventional home loans

Miami Conventional Home Loans

Conventional home loans come in different shapes and sizes.  Strock & Tanner Mortgage works with different conventional home loan programs to fit your particular needs.

The maximum amount lenders allow for conventional home loans for a single family dwelling is $417,000.

Terms vary as follows:

30 year fixed rate:

  • Monthly principal and interest payment never changes
  • Safety and security in knowing what your payment will be in the future

15 year fixed rate:

  • Your combined monthly principal and interest payment are fixed
  • You know what your payment will be into the future
  • Your home loan will be paid off in half the time as a 30 year fixed rate loan
  • Though your monthly payment is higher than a 30 year fixed rate loan, your interest rate is typically less

 

Why Work with Mario Quintero

Would you like to take advantage of the various conventional loan benefits available?  Let me help you take a look at your options. I have been in the home mortgage loan business since 2002. Because of this, my experience is tested and true. I have helped thousands of clients like you with their conventional home loan needs.

Let me be both your trusted Miami realtor and Miami mortgage broker.  It is my burning desire to build a business based on strong, lasting, lifelong relationships, one person at a time, through confidence and trust. I look forward to hearing from you and I can be contacted via email Mario@stcloans.com.

 

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 Reverse Mortgage

Miami Reverse Mortgage

 

Benefits of a Miami Reverse Mortgage

We closed our last reverse mortgage of the year last week, helping Marcelino and Josefina supplement their daily living.  This is one of the many benefits of a Miami reverse mortgage.  Whether it’s for yourself, your elderly parents or anyone else you know who’s retired, a Miami reverse mortgage is an excellent way to supplement life at retirement.

The above picture shows our closing celebration with Marcelino & Josefina.  We had just completed a reverse mortgage closing at their home with caretaker family members, Daisy & Maggie.

A Miami reverse mortgage is just one of the vehicles Mario Quintero and the team at STC Loans help you reach your goals and dreams.  Life is expensive at retirement.  Fortunately, the Miami reverse mortgage option is available to individuals who’ve worked hard their entire life.   Because they’ve paid off their homes, and reach retirement age, their investment can work for them.

Your home is your biggest investment.  Inasmuch, as you age, and you pay this off, it allows you to benefit when you retire.  Upon retirement, you may use all or a portion of the proceeds to subsidize life.   Moreover, you live debt-free, as you never have to make another mortgage payment again.  You are still responsible for taxes and insurance, however.  But, all the payments you’ve made prior to retirement now help you.

Why not take advantage of this?

 

Why Work with Mario Quintero

Would you like to take advantage of the many reverse mortgage loan benefits available? Think you qualify for a reverse mortgage? 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. Because of this, 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.

 

Miami Jumbo Home Loans

Miami Jumbo Home Loans (image from CNN)

 

Origin of the term “jumbo mortgage”

According to Zillow, “Jumbo mortgages are also called non-conforming mortgages. These types of loans are made when you don’t “conform” to the requirements of Fannie Mae and Freddie Mac.  Fannie and Freddie provide stability and affordability to the mortgage market.  They do this by buying “conforming” mortgages from lenders.”  This provides liquidity to make more mortgages. Loans higher than these limits are called jumbo mortgages.

 

So what makes it a Jumbo Loan?

The current “conforming” loan limit for a single-family (primary or second) home in Miami is $417,000. This is set by Fannie Mae. When your mortgage goes beyond this level in Miami, it becomes a Miami Jumbo Home Loan.  Additionally, Jumbo Loans are available to you with both Adjustable and Fixed Rates.  Because of this, your interest rate will be slightly higher than conforming loans.

What makes it different than a conforming mortgage?

When you purchase a more expensive home, you incur more risk  . As a result, your property values are subject to greater fluctuations.  This will then require more conservative underwriting requirements.

Because of this higher risk, the average Jumbo Loan borrower has a better credit history.  They also have more stable income and higher reserves than a conforming buyer.  Higher reserves come in the form of more liquidity, assets and cash on hand.

 

Why Work with Mario Quintero

Do you think you qualify for a Miami jumbo home loan? Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker. Don’t attempt to negotiate on the purchase of your home on your own.  Mario helps you reach the best price through his extensive negotiating skills.

 

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.

Generous Miami Realtor and Mortgage Consultant

Charitable Miami Realtor and Mortgage Consultant

Charitable Miami Realtor and Mortgage Consultant…

As the saying goes, “Tis better to give than to receive”.  This saying can not be more true than at the end of the year.   Often at this time, both young and old alike, across the USA are left without the ability to experience the true blessings of the season.

Not the case for “DeNito’s Ride for Kids.”

Anthony DeNito of DeNito’s Ride for Kids “donates specially designed bikes for kids with lower levels of mental or physical abilities to offer safe, stable and stylish choices, providing them a new form of mobility, exercise, therapy but most importantly, the joy of cycling.”  Indeed, even a child with a severe debilitating disability who would in any other case, be unable to experience the joy, pleasure and physical benefit of riding a bike, can now experience just that.

Through the company’s mission statement:   “To focus directly on kids that are unable to ride bikes due to mental or physical disabilities.  We are working with a manufacturer in the USA to offer safe, stable and stylish choices for kids with lower levels of ability, providing them a new form of mobility, exercise, therapy and most importantly, the joy of cycling.”

Anthony DeNito makes the dreams of both parents and children with challenging physical disabilities.

Make Your Contribution Today

Are you looking for a charity to donate to this holiday season?  Because of all the benefits, please consider DeNitos Ride for Kids, helping physically challenged children experience the joy of riding a bike.  Learn more here.

The Charitable Team at Strock and Tanner Mortgage

Miami realtor and mortgage consultant, Mario Quintero of STC Loans, presented Anthony DeNito of Denito’s Ride for Kids with a generous donation for the charity towards the design and development of a new bicycle for a physically challenged child.

Why Work with Mario Quintero

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker. Don’t attempt to negotiate on the purchase of your home on your own. Mario helps you reach the best price through his extensive negotiating skills.

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.