Paying More Attention

Paying More Attention

 

You Get Out What You Put In

Every so often I get stuck in neutral. I coast along, doing things the same old way I’ve always done them. Then I notice something falling off…the quality of a relationship, the amount of business I’m doing, my health, and so on.  Am I missing something?  Should I be paying more attention to something?  Now there’s a novel thought – paying more attention.

When that happens, I’m reminded of a little story I once read, that I’d like to share with you. It’s from motivational speaker Zig Ziglar who’s telling a story about his friend, Walter Hailey.

The story goes that although Hailey became a star salesman in later life, his early career as an insurance salesman was rough. He endured frustration, anxiety, slammed doors, low sales figures, and uncertainty about his future.

Paying More Attention

One day he grew so discouraged that he went to his boss and told him he was going to quit. His boss’s response? “You can’t.”

Hailey repeated that he was quitting. The manager repeated, “You can’t.”

Angry now, Hailey shouted, “Yes, I can!”

His manager replied, “Walter, you can’t get out of the insurance business because you have never really gotten into the insurance business.”

The words hit Hailey like a ton of bricks. For the first time in his life he realized that you can’t get something out of an endeavor if you never put anything into it. Or as Ziglar says, “There are many people who ‘join’ a sales organization, but never get into the business of selling.”

I’ve taken this to heart, and apply it everywhere in my life with wonderful results, not just in my business. Whenever I’m starting to get results I don’t like, I take it as a sign that I’m losing my focus. It’s a sign to start paying more attention!

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 Loan

Miami Conventional Loan

A Miami Conventional Loan

Like when shopping for your dream home can be a bit overwhelming and challenging,  you can say the same when entering into the financing of your new home.  Many homeowners become overwhelmed when faced with having to secure financing for their new home purchase. Add to this,  contractual time limits causing you to secure your financing quickly.  In most cases, the type of loan you’ll need to secure is a Miami conventional loan.

According to wikipedia, “In the United States, a conventional mortgage home loan is a home mortgage loan that conforms to GSE (Fannie Mae and Freddie Mac) guidelines.  The most well-known guideline is the size of the loan, which as of 2013 was generally limited to $417,000 for single family homes in the continental US. Other guidelines include borrower’s loan-to-value ratio (i.e. the size of down payment), debt-to-income ratio, credit score and history, documentation requirements, etc.”

Eligibility

In order to qualify for a conventional loan, borrowers must typically meet three minimum requirements:

Down Payment

The standard down payment for a Miami conventional loan is anywhere between 5% and 25% of a home’s value depending on the borrower’s credit and financial condition.  For example, if the property you are trying to secure costs $100,000, the lender may want you to place a 20% or $20,000 down payment.  Buyers with stronger credit are usually able to place as little as 5% down in order to secure their home’s financing.

Income

Lenders want to make certain your debt-to-income ratio, or the percentage of monthly income you spend on debt payments, including mortgages, student loans, auto loans, minimum credit card payments and child support, will leave you at a comfortable level, not overextending yourself.

Credit/FICO Score

Your credit score also plays an important role as you qualify for a conventional loan.  Lenders vary on the minimum FICO credit score requirement.  This is not standard in the industry.  However, remember, the higher your credit score, the better the terms you will receive on your Miami conventional loan.  In this case, too, the stronger your initial down payment, the better your lending terms will be.

 

Why Work with Mario Quintero

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 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 mortgage loan

Miami jumbo mortgage loan

Miami Jumbo Mortgage Loan

The Miami jumbo mortgage loan is financial instrument widely used throughout South Florida real estate.  According to Bankrate.com, “a jumbo mortgage is a home loan for an amount that exceeds conforming loan limits established by regulation. The jumbo loan limit is $417,000 in most of the United States. The limit on jumbo loans is $625,500 in the highest-cost areas.”  Any mortgage higher than $417,000 is a jumbo mortgage loan.

The Miami real estate market has many homes which would qualify for the jumbo loan rate.  In fact, most of South Florida, from Palm Beach to the Keys would have many homes qualifying for such rates.   Because of this, there may blenders willing to offer Miami jumbo mortgages.  However, you will find the qualification requirements for such loans continue to remain quite strong,  following the 2008 financial crisis.

 

Qualification rules

Prevailing interest rates have decreased dramatically since the 2008 financial crisis.  Although it may be less expensive for you to get a jumbo loan today, the requirements remain strict.  Jumbo mortgage borrowers aren’t necessarily wealthy individuals.  Borrowers are actually from middle, dual-income homes. Some buyers are even first-time borrowers.   As a good quality Miami jumbo mortgage borrower, you will not only have very good credit, but sufficient income, assets and not too much debt.

Most lenders require you to have good credit along with the other attributes mentioned above.  Additionally, lenders require a minimum 20% down payment.  The debt-to-earnings ratio plays an important role in the loan qualification process.  Your debt-to-income ratio compares your monthly debt obligations to your pretax income.

 

Why Work with Mario Quintero

Buying a home isn’t just a matter of finding the right house, negotiating on it and reaching a workable price level. 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 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.

If you or someone you know is looking for a great low down payment mortgage we now offer a low 3% down residential mortgage, without mortgage insurance, up to $417,000 but you need a minimum 680 credit score.
This is a great program for people getting back into the market or first time home buyers. This same program can be used for a rate & term refinance without cash out up to 95% without mortgage insurance. If you have any questions give me a call at 305-598-1600.

Retirees have the opportunity to use a reverse mortgage on their home for many financial challenges facing seniors today. Many well known sites such as Money Magazine, The Huffington Post, CNBC and CNN Financial news have all tooted the many benefits reverse mortgages afford to Seniors.

Let’s discuss a couple of the more prescient ones within the next few posts.

 

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Healthcare Expenses

Say for instance there is for a lump sum to pay in anticipated or unanticipated healthcare expenses. It is well known healthcare expenses pose a challenge for many Seniors.  As a Senior, you’ve hard your entire life. Upon retirement, though many of your expenses may lower, other expenses arise, such as health care costs. Why fret or worry? Safely tap the equity in your home, which you’ve worked hard to pay all your life, so that you may have that safety net to cushion you when unexpected costs arise.

You will not have to repay the monies taken for the reverse mortgage against your home until the time of your death. You will receive a lump sum payment from the reverse mortgage financing institution and neither you nor your heirs will be required to repay these monies until the time of your death.

Is this not something to allow you to breathe a sigh of relief?

Contact Mario Quintero of Strock and Tanner Loans, your Reverse Mortgage Specialist at 305-598-1600 for additional information along with a complementary consultation. He will explain all the benefits available to you with a reverse mortgage.

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