NMLS 2275047
New Loan-Level Pricing Adjustments will be in effect on May 1, 2023. What are LLPAs and how will they impact borrowers? What is Loan-Level Pricing Adjustment? Mortgage lenders adjust their interest rates per borrower based on the presumed risk of loaning money to that borrower in a procedure known as Loan-Level Pricing Adjustment. This government […]
Read MoreWatch our YouTube Videos on 2-1 Buydowns: When mortgage rates are on the rise, lenders may be more inclined to offer a mortgage financing technique — known as a mortgage rate buydown — that allows you to pay extra money to get a lower rate. A buydown can be permanent or temporary, and understanding the […]
Read MoreThe greatest missed opportunity for most of us is not marketing to our existing database! Hopefully you’ve been following our advice from previous Marketing To Your Database emails, and you’re calling your clients with these valuable touch points and of course asking for a referral at the end. If you do this singular activity on […]
Read MoreWatch our YouTube Video on Blended Credit here: https://youtu.be/1mZjkOBIfWs As of September 18, 2021, Fannie Mae’s new credit score rule allows lenders to average the co-borrower’s FICO scores together to determine eligibility for a conventional loan. What does this mean for you? Using the same example of the two co-borrowers with credit scores of 690 […]
Read MoreWhat is a Closing Statement, Settlement Statement? A closing statement is a document that records the details of a financial transaction. A homebuyer who finances the purchase will receive a closing statement from the bank, while the home seller will receive one from the real estate agent who handled the sale. Understanding the Closing Statement […]
Read MoreWhat is the Homestead Exemption? The Homestead Exemption is a valuable property tax benefit that can save homeowners thousands on their taxable value. The homestead exemption is a way to minimize property taxes for homeowners. It is also a legal provision offered in most states that helps shield a home from some creditors following the […]
Read MoreWatch our Video on Mortgage Buydowns here: https://youtu.be/7afbNLNfhrY What Is a Buydown? A buydown is a mortgage financing technique in which the buyer attempts to obtain a lower interest rate for at least the first few years of the mortgage or possibly its entire life. A 2-1 buydown, for example, is a specific type of […]
Read MoreChoice Mortgage Group has expanded temporary buydown options for jumbo loans at a time when mortgage rates are still high, and borrowers have increased negotiating power. The Boca Raton, FL-headquartered lender will offer borrowers of jumbo loans an option to reduce their mortgage rates by 2% during the first year of the loan and by […]
Read MoreFHA loan limits are increasing in 2023. The new baseline limit — which applies to most single-family homes — will be $472,030. That’s an increase of more than $51,000 over last year’s FHA loan limit of $420,680. In the South Florida Tri-County Region (Miami-Dade, Broward, and Palm Beach Counties), the FHA loan limits are increasing […]
Read MoreIt’s easy to fall in love with a home and overlook some of its flaws. If the flaws are minor, like updating paint or decorations, that’s no big deal. However, overlooking major flaws can be a costly mistake. While you should always hire a professional home inspector before purchasing your home, there are several red […]
Read MoreOne of the many rewards of defending our nation is assistance in buying a home. For qualified individuals, the U.S. Department of Veterans Affairs guarantees mortgages, which makes it possible for approved lenders, like Choice Mortgage Group, to provide exceptional deals to current and former members of the military. Who is Eligible for a VA […]
Read MoreClick Here To Watch Our PMI Video: https://youtu.be/cQPsJoDQbxg Conventional mortgages require homebuyers to pay a 20% down payment on a home purchase. The purpose of this is to ensure that the homebuyer is financially committed to the house, lowering the lender’s risk that the homebuyer may default. According to Redfin, a national real estate brokerage, […]
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2424 N Federal Hwy, Suite 100
Boca Raton, FL 33431
(561) 395-6900
(888) 216-6476
NMLS 2275047
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