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MortgageDepot
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Zero-down Mortgages: Yes, They Do Exist! - MortgageDepot
Did you know that zero-down mortgages are available? There aren't
many programs out there, and not everyone will qualify, but they do
exist. Zero-Down Mortgages: Two Options When we explore zero-down
mortgage options for our clients, these are the programs we
investigate: VA Loans: Veterans and active military members who
meet certain income and credit requirements might qualify for this
zero-down option. The Pros of Zero-Down Mortgages The main
advantage of zero-down mortgages is clear: The amount of money... more
Grasping the Credit Score Concept - MortgageDepot
If your score is low, you'll either end up with a higher interest
rate or get rejected altogether! When you're ready to pursue your
real estate goals, it's not enough to know your credit score.
Credit utilization: Credit utilization refers to the amount of
credit you're using versus the amount you have available. A good
rule of thumb is to keep your credit utilization under 30%. For
instance, if you have $10,000 of credit available, try to use only
$3,000 of it at one time. Length of credit history: The longer... more
Ground Up New Construction - MortgageDepot
Ground-Up New Construction Loans Help Builders Stay on Track
Homebuyers aren't the only people who need the help of a mortgage
broker. Are you a builder who is in need of a mortgage to fund your
next project? We offer a Ground-Up New Construction loan to help
you secure start-to-finish financing for your next development.
What Will a Ground-up New Construction Loan Do for Me? We know that
as a builder, time is money. Characteristics of the Ground-Up New
Construction Loan Do you think a Ground-Up New Construction... more
MortgageDepot Celebrates Annual Holiday Party and Honors Employees & Top Producers with Achievement Awards - MortgageDepot
The event was held in conjunction with its annual Holiday Party, where attendees "Let the good times roll" and enjoyed a Mardi-Gras themed party. "This year's award winners demonstrated a steadfast dedication throughout the year and made tremendous contributions to our company's success during a challenging market. Their recognition is well-deserved," said Yury Gohkberg, President of MortgageDepot.
9 Do’s and Don’ts To Preserve Your Pre-approval - MortgageDepot
We often talk about how crucial a mortgage pre-approval is when you’re ready to make a real estate move. Although pre-approvals are necessary in a competitive real estate market, buyers must remember that a mortgage pre-approval doesn’t guarantee that everything will proceed without a hitch.
Once you get your pre-approval letter in hand, there are some things you can do to avoid delays in the loan process. Here are the dos and don’ts we recommend:
Negotiate Like a Boss: A Quick Guide To Reducing Your Closing Costs - MortgageDepot
Did you know you also have a right to negotiate certain closing
costs? Many borrowers don't realize this, and those that do are
intimidated by the thought of telling a seller or a lender that
they want to pay less. Closing Costs: What's Included? Closing
costs vary widely by lender and loan type. Recurring closing costs
are paid at closing and on a regular schedule afterward.
Nonrecurring closing costs are paid only at closing and include
lender fees, home inspection charges, and title fees. Negotiating
With... more
What’s Taking So Long? Understanding Mortgage Approval Timelines - MortgageDepot
While every situation is different, today we're going to give you a
basic overview of mortgage timelines. If the real estate market is
slow or the lender is unusually fast at mortgage approvals, it
might take less time. What Happened to 24-Hour Approvals? Before
the mortgage crisis that occurred around 2008, speedy mortgage
approvals were common. Some buyers were eligible for a conditional
approval within 24 hours! Mortgages go through a more intense
process these days, but the good news is that your approval... more
About Leo Feliz - MortgageDepot
Leo Feliz began his career in the early 1990s as a Loan Officer,
progressing to a Senior Loan Officer by 2015. He also served as a
business financing consultant, guiding company owners through
business loans, business plan development, and credit-building
concerns. He believes that personal relationships ultimately lead
to success at the mortgage desk. Whether you need a residential
mortgage, home equity loan, or commercial loan, contact LeoFeliz
today to learn to learn more about your options and embark on... more
About Shlomo Simkhaev - MortgageDepot
If you are in the market for a mortgage, you're in good hands with
Shlomo Simkhaev. As a Mortgage Loan Originator, he has a strong
commitment to client satisfaction and is adept at conquering
challenging circumstances to arrive at sensible loan solutions.
Shlomo came to us with an extensive engineering background. Tech
support roles have been a large part of Shlomo's previous
employment experience, and he finds that the same problem-solving
attitude he used previously serves him well at the mortgage desk.
When... more
Lender Fees: Only One Piece of the Mortgage Puzzle - MortgageDepot
The mortgage APR is the interest rate associated with your loan. This amount is added to your principal to arrive at your monthly payment. As you compare mortgage products, consider the mortgage APR for each one, which will include lender fees. Partner with a mortgage broker who isn’t afraid to strike up a deal with lenders. Be flexible: Don’ts zero in on lender fees.
MortgageDepot Helps Client Break into Real Estate Investing With a Non-QM Loan - MortgageDepot
Julia Knurova, a dedicated Mortgage Loan Originator (MLO) with
MortgageDepot, knows where to find a loan program that works for
you. She guided C&T Contracting Solutions LLC/Clifton Maxwell
through the mortgage process, persisting through financing
challenges to emerge successfully. The client was a self-employed
borrower seeking a Non-QM loan. The client’s credit score was 660.
It was considered too low in many lenders' eyes. The clients wanted
to qualify to qualify for their mortgage using their DSCR. The... more
Mortage Points: What They’re All About - MortgageDepot
Many people have never even heard of mortgage points. A mortgage point, also called a discount point, costs 1% of your home’s purchase price. For each one you buy, your interest rate will decrease by a specific percentage. Some think purchasing one mortgage point will lower their interest rate by an entire percentage point. Contact MortgageDepot today to see if purchasing mortgage points will put you ahead in the real estate game.
Is Mortgage Insurance a Necessary Evil? Not Always! - MortgageDepot
Not every homebuyer is responsible for a mortgage insurance payment. LTV is a risk measurement used by lenders. A high LTV means that little equity is built up in the home. Fannie Mae and Freddie Mac loans don’t require borrowers with an LTV of 80% or lower to pay mortgage insurance. If mortgage insurance is causing confusion, contact MortgageDepot today to find a loan program that meets your needs.
Halal Financing Program - MortgageDepot
At MortgageDepot, we believe that matter our background, culture or
faith, we all deserve a chance at homeownership. Our Halal
Financing program offers our clients a Sharia-compliant alternative
to traditional home loans. To remain in step with Sharia, or
Islamic Law, a home loan program must have these characteristics:
Money cannot be made from money. The lending process includes a
specific Sharia- Compliant contract. The transaction must be
equitable and transparent. The transactions must be transparent
under... more
How to become a Mortgage Loan Officer - MortgageDepot
Once you've passed your SAFE MLO test and become licensed, you'll
be ready to put your skills to work for borrower clients. Be sure
to log into your NMLS account to submit your license application
and set your status to “Approved-Inactive” for licensing. Then, the
next step is finding a mortgage brokerage where you can apply your
new talents. We’ll help you make important contacts in the
industry. Our Sales Director will help you be successful. Our sales
director will help be successful and knowledgeable... more
The FHA 203(h) Program Helps Disaster Victims Rebuild - MortgageDepot
A Presidentially Declared Major Disaster Area (PDMDA) is a location devastated by a natural or man-induced event. If your home was damaged or destroyed due to a qualifying disaster, you can use this program to rebuild or purchase another home. Not every property type falls under the FHA 203(h) umbrella. If you own one of these property types and reside in a PDMDA, contact us to review your options. For more information. Contact us to see if you qualify for the fHA 203 (h) program.
About Ronald Gilmore - MortgageDepot
Ronald Gilmore brings decades of mortgage lending experience to the MortgageDepot team in his position as a Mortgage Loan Originator. Ronald Gilmore can tap into a wealth of knowledge to help each of his clients achieve their unique mortgage goals. To discuss your residential lending needs in Florida with Ronald, contact him today by email or phone.
Mortgage Down Payments Revealed: How Much You Really Need Upfront - MortgageDepot
A 20% down payment on a home isn’t a must-have anymore! There are mumblings about low down payments and even skipping the down payment altogether. Here are three things that might affect how much cash you’ll shell out upfront for a home. If you're buying a vacation home or an investment property, be prepared with at least 20% of the purchase price. Do Zero-Down Programs Really Exist?
MortgageDepot Obtains Financing for a Foreign National Borrower in Aventura, FL - MortgageDepot
MortgageDepot specializes in meeting the challenges faced by
borrowers who are foreign nationals. Our access to multiple lenders
offering a variety of financing options and programs suited for
nontraditional borrowers, helped a client under contract purchase a
condo in Aventura, Florida. After previously seeking financing for
the condo elsewhere with no success, he contacted one of our
talented loan originators, Julia Knurova, for assistance, who was
able to deliver solutions tailored to his situation. The client... more
Fixed-Rate Mortgages and ARMs: Is One Better Than the Other? - MortgageDepot
Interest rates are higher than we’ve seen in years, so if you’re braving the housing market, your mortgage matters. In the past, a 30-year fixed mortgage was the overwhelming favorite. Today, people are exploring other options to score the lowest interest rate.
Many people aren’t aware of how many mortgage options are out there because they’ve never needed to research them. A 30-year fixed mortgage has always been affordable enough. Now people are looking at shorter loan terms or adjustable-rate
... more
Home Loan Documents: Following the Paperwork Trail to Homeownership - MortgageDepot
Some lenders are extremely detail-oriented. Here's an in-depth look
at all of the documents you'll need to get the keys to your dream
home in your hands. Completing the Mortgage Application Without all
the attachments, the mortgage application is a lengthy piece of
paperwork itself! Here are some documents you should have available
to make the process painless: Your government-issued ID The
purchase price of the home Details about the type of mortgage you
hope to receive Information about legal concerns that... more
Why Do I Need a Mortgage Broker? Let’s Find Out! - MortgageDepot
Are you considering buying a home but concerned that mortgage
knowledge is a prerequisite? Put your worries to rest! Most buyers
know little about mortgages. Mortgage brokers help buyers demystify
the mortgage mayhem, emerging with a home loan that meets their
needs without compromising their budget. What Is a Mortgage Broker?
A mortgage broker serves as a liaison between borrowers and
lenders. Because there is a mind-boggling number of mortgage
programs available, mortgage brokers make it their mission to know... more
Mortgage Mythbusting: Revealing the Truth About Home Loan Qualification - MortgageDepot
There are several myths surrounding mortgage qualification. Listen
to our mortgage experts instead! Today we're going to bust some of
the most common myths about mortgage qualification and share the
truth about what you can expect at the mortgage desk. Myth #1: I'll
need to endure a lengthy application process to determine if I
qualify for a mortgage, and it might be all for nothing. Myth #2:
My credit score needs to be insanely high to qualify for a
mortgage. Fact: The higher your credit score, the lower your... more
About Gasly Julmisse - MortgageDepot
Gasly Julmisse joins our growing team at MortgageDepot as a
Mortgage Loan Originator. With his solid background in customer
service, Gasly is firmly committed to providing each client with
his full attention and knowledgeable assistance from start to
finish. Serving clients' purchase and refinancing needs, he employs
both critical thinking and creative thinking skills to help
applicants achieve their goals regardless of how challenging the
loan requests may be. Each loan applicant at MortgageDepot has
unique... more
Don’t Be Denied! Reasons Why Your Mortgage Application Might Not Pass - MortgageDepot
Getting denied a mortgage is a top homebuyer fear that prevents
many people from even talking to a mortgage professional. Knowing
this information will allow you to troubleshoot any application
downfalls before you fall in love with a home. If you know anything
about the mortgage process, you know that credit is critical.
Lenders want proof that this is a permanent salary rather than a
temporary wage increase. Contact MortgageDepot today to find a loan
program that meets your needs. For more information, contact... more
About Razia Sultana - MortgageDepot
Razia Sultana proudly meets our clients’ home loan needs at MortgageDepot as a Mortgage Loan Originator. She actively provides creative, effective lending solutions so that applicants can achieve their home buying and refinancing goals. At the same time, she strives to make the loan process as straightforward and hassle-free as possible by providing exceptional customer service and focusing on open communication.
Razia graduated from Queens Borough Community College in December 2020 with an associate’s
... more
What Kind Of Home Can I Afford? Four Factors To Consider - MortgageDepot
The more money you put down on a home, the smaller your mortgage needs to be. If you have a significant amount of on-hand cash, you might be more comfortable stretching the limits of your preapproval. If your savings account is on the small side, you may err on the side of caution and spend less than your pre-approval. Contact MortgageDepot today.
About Calvin McKnight - MortgageDepot
Calvin McKnight is a valuable part of MortgageDepot's team. Calvin
is certified as a Florida Mortgage Loan Officer, and he holds two
advanced degrees. Calvin strives to provide each client at
MortgageDepot with knowledgeable support, so he has committed to
continued education on mortgage topics. From his deep knowledge of
our many competitive loan programs at MortgageDepot to his creative
approach to finding lending solutions that are suitable for the
client's needs, Calvin has the expertise and drive necessary... more
Your All-Inclusive Guide to Mortgage Preapprovals - MortgageDepot
Developing your wish list, browsing homes, embarking on a new
adventure Wouldn't it be nice if you could forget the mortgage
application process and focus on the fun? While you can't ignore
the business end of buying a home, there are things you can do to
lighten your load. One step you can take is to get a mortgage
preapproval before you start shopping for a home. What Is a
Mortgage Preapproval? A mortgage preapproval letter tells you
approximately how much money you can borrow to purchase a home. Why
Is a... more
An Honest Look at 20% Down Payments: The Pros and Cons - MortgageDepot
For decades, 20% of the home’s purchase price has been the magic number. These days, few lenders require a 20% down payment, which is good news for cash-strapped buyers. But coming to closing with a large down payment has certain advantages that are tough to argue. Contact us at MortgageDepot today to see home loan options to suit your unique needs. For more information, contact us at MortgageDepot Today.
