Search results for: FL mortgage

Clear To Close FL Mortgages in 7 days

I am proud to be a part of the best mortgage company in America, Embrace Home Loans.  For over 30 years this company has consistently out serviced and outperformed the competition and now has launched a new program called Quick Close 7.  That is, your buyer can have a clear-to-close commitment just seven days after receiving an uploaded complete FL mortgage loan application.  Sound crazy?  Here’s an example from my last FL mortgage closing, yesterday.

Although we prefer the speed and ease of electronic signatures, our particular Florida home buyer was not computer savvy.  My wife, Karen and I visited our home buyer in Indian River County on Saturday February 1st.  We gathered all supporting documentation as well as the initial signed application disclosures.  We later February 3rd, turned in a complete mortgage file and had already ordered the appraisal, survey and title work.  On February 5th, we received our underwriting conditional commitment and cleared the minor conditions the following day.  We closed on Valentine’s Day, February 14th on time as scheduled!

It’s an awesome reassuring feeling of confidence knowing, when we have FL Realtors or FL Builders with homebuyers that need quick underwriting approvals cleared of conditions, that Embrace Home Loans not only provides that opportunity but, in our example, can close a FL mortgage loan within 10 business days!

If you or someone you know needs our kind of service with quick approvals or to simply answer any mortgage related questions, please contact us at 800.333.3004 ext. 3560, ask for Stephen Thaggard.  Or feel free to text or call directly on his mobile phone at 407.733.6425 to “get his perspective“.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida

Embrace Home Loans, NMLS 2184,,

5500 Murrell Road Suite 201, Viera, FL 32940

A FL mortgage truth upfront, is always better

Ever have a home buyer who was pre-qualified for their FL mortgage loan, then learn only days prior to closing they were denied?  When home buyers are shopping around for a low mortgage rate and request to be pre-qualified for their FL mortgage loan, many forget one of the most important steps is working with an experienced FL mortgage professional.  An experienced FL mortgage professional knows to review all income and asset supporting documents as early in the mortgage loan process as possible to ensure their home buyer is well qualified.   

Yesterday our client, approved for a FL VA home loan, learned that his current home under contract had to be cancelled.  The buyer of his home was pre-qualified over a month ago, and now 3 days prior to closing, was denied because their qualifying debt ratio was too high.  That’s right, only 3 days from a scheduled closing!  This is something the loan officer should have known earlier in the process, yet has now stopped 2 home buyers from closing on their dream homes here in Florida.  Next time, they need to speak with an upfront FL mortgage professional that has experience.  Finding out the FL mortgage truth upfront is always better.

I have always said there are 2 types of mortgage loan officers.  Ones that depend solely on the final underwriting review to determine if their client was ever qualified… they are order takers.  While true FL mortgage professionals work upfront and pre-underwrite clients, understanding specific mortgage product knowledge, income analysis, and overall soundness of their clients’ specific qualifications.  This makes all the difference in the world to home buyers, FL Builders, and FL Realtors. 

If you need an upfront review of your home buyer, please make sure to contact our office, email me directly at or call 800.333.3004 ext 3560 and ask for Stephen Thaggard

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida

Embrace Home Loans, NMLS 2184,,  485 N 5500 Murrell Road Suite 201, Viera, FL 32940

The housing market meltdown effect in today’s FL mortgage market

I enjoy speaking with home buyers and homeowners regarding qualifying for a particular FL mortgage loan program.  Every day someone is referred or has found us through a Google search; and needs answers to questions upfront, before applying for mortgage approval.  For example, questions regarding short sale, bankruptcy or foreclosure seasoning requirements are frequent.   Did you know that a home buyer may qualify to purchase a new home without waiting 3 years, after a short sale?  I’ll save that for another time.  For now, let’s consider today’s mortgage environment expectations for AAA credit home buyers or borrowers.

Most first time home buyers are so anxious to purchase their new dream home, they will jump through any hoop that an underwriter can heave.  First time buyers have nothing to compare when applying for a mortgage home loan, because it’s their first time at bat.  They have saved some money for down payment, may have even worked out kinks found on their credit report, and have income stability by holding down a good job, or jobs in the same line of work,  for at least 2 years.  Whatever supporting documents are needed to approve their mortgage loan, they’ll provide; usually with no questions asked.  But what about the AAA credit seasoned home buyer?

These buyers or home owners (when refinancing) have obtained a FL mortgage loan or 2 in the past and learn quickly that today’s mortgage market and approval processes are much different.  They may need to provide additional supporting documents that were never asked for on previous home purchase or mortgage refinances.  Over documentation with some lenders seems to take the worry away or reduces the risk in the eyes of the originating lender.  These very well qualified, sometimes over-qualified buyers must jump through the same underwriting hoops as a less qualified home buyer.  This can be uncomfortable especially when many of these AAA home buyers could simply pay cash for their new home and not borrow at all.  Why all this fuss?

The truth is simple.  Lenders and banks are cautious with every mortgage loan – because if that home buyer or home owner ever defaults, the originating lender could be held accountable for any I not dotted or T not crossed.  All of a sudden, credit, income and assets; may no longer lead to a clear path for streamlined underwriting.   I mention to all of my previous AAA clients, to please sit back and relax as we will be asking for more supporting documentation than our last refinance or home purchase mortgage.  As always we FL mortgage professionals will do our best to make the entire home buying or refinancing process as smooth as possible.  Thanks

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  5500 Murrell Road Suite 201, Viera, FL 32940

FL mortgage choices can save home buyers more money

With over 17 years of Florida mortgage loan origination’s under my belt, I sometimes get too caught up with work, and forget the fun.  I truly love sharing my professional experience to assist any home buyer whether for the seasoned investor, a qualified 2nd home or vacation home buyer, or the inexperienced first time home buyer.  Recently a previous client called asking me is there any fun left in what I do as a FL  mortgage professional.  The fun is simple.  I am responsible for making sure buyers know their mortgage options upfront before securing their new home.  Sharing my mortgage loan experience with others is fun and rewarding.

A great example would be when a first time home buyer believes an FHA home loan is the only mortgage option available.  This may not be true, especially if the buyer is a Veteran and can use his or her VA Entitlement.  That can save them the 3.5% required down payment and the monthly payment is much lower as there is no mortgage insurance with a VA home loan.

Discussing all mortgage options and product guidelines with home buyers is essential when purchasing a new home here in Florida.  Empowering home buying decisions by sharing my fresh upfront  mortgage perspective, continues to save buyers money and time.  And it’s truly simply fun.  Buying a new home?  Call 407.733.6425 or contact me, Stephen Thaggard and I’ll show my perspective in FL mortgage loans.  Buying a home and getting a mortgage should be fun, I’ll show you how.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751

The right FL mortgage loan come first when shopping for next home

After over 17 years in the FL mortgage arena as a Sr. Loan Officer, I have recognized that most first time as well as seasoned homeowners are solely focused only on the mortgage interest rate.  However, to me personally, the rate is the easy part of the equation – provide the lowest rate available.  But what about choosing the right FL mortgage loan?  Is your loan officer experienced enough to know the options?

Whether purchasing your first or second, vacation home, choosing the right mortgage program is very important.  Here a just a few.

  • Most first time home buyers qualify very well with a FL FHA home loan.  There is only a 3.5% minimum down payment requirement, and all funds needed to close can be in the form of a Gift from a family member.  Also, Sellers can contribute up to 6% towards the buyers closing costs and prepaids, property tax and homeowners insurance escrows.
  • For those that are purchasing a vacation home or 2nd home here in Florida; consider a Fannie Mae or Freddie Mac mortgage.  With as little as 10% down, you can buy a home close to Disney or near our beautiful beaches here in Brevard County, or anywhere else you choose in Florida.
  • If you are a Veteran, you can save more money than other buyers.  A FL VA home loan is available with no down payment, up to $417,000 with full entitlement; has no monthly private mortgage insurance, and Sellers can contribute up to 4% towards the buyers closing costs and prepaids.  I have closed FL VA loans where the buyer actually ends up bringing no additional funds to closing.
  • Please keep in mind, Veterans seeking to put 20% down may want to compare a Fannie Mae or Freddie Mac conventional loan and a VA home loan.  The conventional approach can actually save a bit with no VA Funding Fee.  And for those buyers with at least 5% saved for down payment; please consider the same conventional loan options vs. a FL FHA loan, as the mortgage insurance requirements may be much lower.


Remember that overall credit history as well as qualifying credit scores make a difference when comparing mortgage loan options.   Speaking with an experienced FL mortgage professional is the best when it comes to knowing your options for your next home purchase.  Once you know you path, then focus on that low interest rate.  To get prequalified now contact me on top right of this page see Get My Perspective or call now at  407.733.6425.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751

Endeavor’s flight and FL mortgages depend on excellence and experience

As we watched the Space Shuttle Endeavor make it’s final piggy back flight from the Kennedy Space Center in Cape Canaveral to it’s final destination in Los Angeles this morning; I couldn’t help think about the amount of work that was required to accomplish the final goal of relocating Endeavor from one side of the US to the other.  There were NASA technicians who were responsible for Shuttle modifications as well as pairing the Shuttle with a 747 by means of the steel-structured MDD or Mate-Demate Device; and everyone involved with weather-related reports, overall operations, as well as the crane operators required once on the ground in California to remove Endeavor from the taxiing 747.  There’s a lot of excellence in professional processing to ensure success.  The same goes with obtaining a new FHA, VA or Fannie Mae/Freddie Mac Conventional loan here in Brevard County or anywhere in FL.

There are many steps that must fall together in order to reach your goal of closing on your next Brevard County Mortgage.

  • First is the experienced FL mortgage professional or loan officer.  Experienced professionals will be able to determine upfront whether you are prequalified and will provide insight to any factors that may need to be resolved prior to loan commitment.
  • Second, are the Processors.  This is very crucial to successful mortgage loan approvals.  The processor is responsible for reviewing all supporting documentation and ordering additional verifications or validations such as IRS transcripts, verification of employments, flood certifications, appraisals and more.  They are the ones that actually pre-underwrite the file,  make sure the underwriter has an organized make-sense file to review for approval, and work on a strict timetable to meet closing date expectations.
  • Last, of course, is the professional underwriting staff responsible for our mortgage loan commitments.  The underwriter reviews all income, asset, appraisals and pairs this information with the appropriate mortgage program chosen; FHA, VA, conventional, USDA, etc.
  • Don’t forget the importance of the professional FL Realtors, the Title Companies, appraisers, home inspectors, etc; all of whom make the entire process of FL home ownership possible.

I have always said that the best FL Mortgage lenders are those that employ top, experienced,  FL Mortgage Professionals as well as the best in mortgage loan Processing and Underwriting.  This is the true secret if you are wondering what separates each lender from one another.  Knowledge is powerful and it starts with experience.  If you are in the market or know someone seeking a new FL home mortgage; please feel free to call 407.733.6425 or email Stephen Thaggard.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751

Experienced FL mortgage professionals can help save time and money

Ever have one of those frantic calls from a Realtor because, after four weeks of processing with a big banking firm, their buyer was being turned down for their FL mortgage approval?  This happens sometimes, but in this specific case the loan officer should have given the bad news on day one.  Does it pay to speak with an experienced FL mortgage professional?  Check this out.

After only a five minute conversation with the buyer, and having just a pen and paper, I immediately confirmed that the qualifying debt ratio was over 70%!  This is obviously too high for the conventional, Fannie Mae or Freddie Mac loan requested. In fact, too high for any residential loan request in today’s mortgage market.  The buyer had two large student loans that pushed the debt ratio too high to qualify.  Perhaps the loan officer wasn’t experienced enough to know that student loans, even in deferment, must be included in qualifying debt ratios with respect to conventional Fannie Mae or Freddie Mac mortgage loans.  That loan officer and buyer learned the bad news on how to correctly calculate debt ratios, four weeks too late.  And since this was a 2nd home or vacation home purchase, the buyer didn’t have the opportunity to change their FL mortgage approach to an FHA loan.

Unfortunately, this FL home buyer had already spent weeks and spent money on inspections and the appraisal – what a waste of time, money and a disappointment for everyone involved.  To make sure you are speaking with an experienced FL Mortgage Professional; ask questions.  How long have they been in the business?  Are there any red or orange flags they see as a professional with respect to this mortgage request, that may be an issue? What are other options available, if any, that should be considered? Does the loan officer ask enough questions?  Were they referred? Why use them?  Just ask.

It shouldn’t take four weeks to determine of the qualifying debt ratios meet qualifications for a FL mortgage.  If you or someone you know need help with pre-qualifying for your next FL mortgage; call, text (407.733.6425) or email me anytime.  Stephen Thaggard

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751

Are you really prequalified for that FL mortgage?

With a large Builder base of clients here in Florida we have grown to realize that there are 2 types of first time home buyers building their dream homes.  The ones that truly believe they are qualified and ready to close once the home is completed.  And the ones that actually know they are qualified.  Are you really qualified?

Every week we speak with new home buyers who have been pre-qualified to start construction and months later cannot seem to get an OK to move forward with their, already pre-qualified FL mortgage.  It seems the loan officer never asked to review income tax returns, needed to evaluate any unreimbursed expense write offs.  These  must be deducted from the income used to qualify for their FHA, VA or conventional type mortgage.

We recently had a buyer (truck driver) who earns approximately $20,000 per year; yet consistently writes off about $13,000 in unreimbursed expenses.  He was seeking an FL FHA home loan and was turned down after 4 months with is previous mortgage lender.  Go figure!  It is unfortunate the lender waited 4 months to ask for documentation that would have been beneficial in the beginning, prior to making the decision to start construction and building hopes.

Everyone wins when buyers are working with experienced FL Mortgage Professionals.  Sometimes buyers do need a little coaching with respect to credit, or in this topic, unreimbursed expenses for future opportunities to purchase their dream home.  If you need a second set of eyes to review your true qualifications on a FL home mortgage; please contact us at today or call 407.733.6425.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751

Who do you call for FL mortgage questions?

Friends ask me sometimes what separates FL mortgage professionals when someone is searching for their next FL mortgage.  There are fewer of us in the business and we have been through every possible licensing requirement both Federal and State.  We know what we’re doing – right?  Some of us have years of experience (over 17 years for me personally) while others are just starting out.  So whats the difference?

I was recently speaking with a new  home buyer regarding qualifying for a conventional FL mortgage loan.   With excellent credit scores of slightly above 800,  and more than enough assets to meet the 20% down payment, closing costs and prepaids, this particular home buyer looked over-qualified, at first.  That is, until learning more about the tax advantages taken last year which basically reduced the amount of qualifying income,  so much, the qualifying debt ratio maximums set by Fannie Mae were greatly exceeded.  In other words – this buyer was no longer eligible based on information provided within a 5 minute conversation.

The interesting part of this story is the buyer went to a competitor who mentioned how they could approve them for the same conventional Fannie Mae loan.  In fact, he said yesterday (Friday) that once his underwriter received and reviewed all of the income documents that the loan could be approved next week.  Or denied….

FL mortgage professionals  fall under 2 categories these days.  The order takers, who will of course promise the world and let others do the qualifying later on in the process.  And the rest of us who actually take pride in what we do and keep up with current mortgage related guidelines and rack our brains out on whether someone is at least eligible to move forward.  We are upfront FL mortgage professionals and can be reached at 407.733.6425.  That’s the way business should be done, upfront.

If you have questions regarding whether you qualify for a FL mortgage to purchase your next home or to refinance a current home; please feel free to contact a true Fl mortgage professional or by calling 407.733.6425.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751

Refinancing to a lower FL mortgage rate may not make sense?

Calls are coming in from everywhere here in FL; with eager homeowners wishing to lower their current mortgage rates.  Many achieve their goals with our VA IRRRL, or regular VA refinance.  Others utilize streamline refinance options with FHA; while others consider qualifying under HARP.  Sometimes refinancing may not make sense…

Recently a FL homeowner was referred to me regarding refinancing opportunities in the hopes to lower his current interest rate.  He told me about the advertising he was seeing on TV as well as offers received via snail mail and email.  It seemed that everyone was telling him to refinance his higher interest rate FL mortgage.  Then he called me.

There are 2 types of mortgage professionals in today’s FL mortgage market.  There are the ones that only care to provide you exactly what you want; whether it saves you money or not.   The others are the true professionals who care to ensure that refinancing will provide a true benefit.

In just a few minutes I learned our FL homeowner was going to sell his home within 18 months.  If he refinanced, he would enjoy a much lower interest rate,yes; but the recovery period associated when factoring in closing costs, took much longer.  In other words, if he refinanced and sold his home in 18 months; he would owe more than he would have if he didn’t refinance.

It does pay to speak with an experienced mortgage professional when discussing options to refinance.  It has to make sense and homeowners must benefit.  For more on refinancing opportunities and benefits, call 407.733.6425 or email Stephen Thaggard.

Stephen Thaggard, NMLS 356309,  Sr Loan Officer, licensed in Florida,

Embrace Home Loans, NMLS 2184,  485 N Keller Road, Suite 550, Maitland, FL 32751