Category Archive: FL No appraisal refinance

FL VA home loans save Veterans more money

Hundreds of Florida home owners with current FL VA home loans, have taken advantage of today’s even lower fixed rate VA home loans.  As a home owner with an already approved VA home loan and with a 12 month on-time payment history, refinancing to a lower interest rate and lower monthly payment can be accomplished without an appraisal.

If you want to refinance and enjoy a lower rate using your VA Entitlement; consider changing your current FL FHA loan or Fannie Mae mortgage to a new VA home loan.  You can comfortably borrow up to 90% of the VA appraised value and qualify for that lower payment even if you have a 2nd mortgage.  Yes, the 2nd mortgage lender will be required to subordinate to the new VA first mortgage, but there is no limit with VA on the CLTV or combined loan-to-value.

Remember too that there are several advantages with respect to Veterans entitlement with a FL VA home loan mortgage.

  • No matter how much you borrow, there is no private mortgage insurance requirement with a VA home loan, saving you even more on monthly payments.
  • Enjoy streamlined approvals when refinancing a current VA home loan using VA IRRRL or interest rate reduction refinance loan. Typically, with a verification of employment and recent 12 month mortgage history, there are no income or assets required.  Veterans with VA loans, under VA IRRRL, have basically already been approved making refinancing easier.
  • Veterans with service-connected disabilities can save even more as they may be exempt from paying the VA Funding Fee.

Even if you have refinanced in the past, it may make sense to speak with a FL VA mortgage professional and determine if refinancing to today’s extremely lower VA fixed rate home loan makes sense.  Remember to always review recovery periods before refinancing!  For more information on this type of refinance as well as others, contact Stephen Thaggard or call 407.733.6425.

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

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

FL VA IRRRL, interest rate reduction loans. Start saving now.

One of the most popular refinance programs in today’s mortgage arena is the VA IRRRL or interest rate reduction loan.  A Veteran home owner can lower their current VA interest rate and save hundreds monthly even th0usands over the life of their loan. Many Veterans calling today with current VA FL home loans are saving approximately $175 – $200 on the average, every month, by reducing their current VA mortgage interest rate.

With a FL VA IRRRL, there is no appraisal requirement for qualified Veterans; which is extremely useful in today’s FL VA mortgage market valuations.  Credit qualifying is even made easier; requiring a review of only the past 12 months mortgage payment history.  All closing costs and prepaids can be rolled into the new FL VA loan removing inconvenient out of pocket expenses.

If you are looking to reduce your monthly payment and you current have a VA home loan; it may make sense to speak with a FL VA Mortgage Specialist.  I have been assisting Veterans and their home loan needs for 17 years and can be reached by calling or sending text request for mor directly at 407.733.6425.  It’s not too late to start saving now.  Stephen Thaggard

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

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

No Appraisal refinance with FL VA home loans

The hottest refinance mortgage requests these days are refinancing a FL mortgage without the need for an appraisal.  There are a few options available and I want to focus on the advantages of one  in particular.  Qualified Veterans  who already have a VA home loan can refinance without an appraisal with the VA Interest  Rate Reduction Refinance Loan or IRRRL.

With today’s VA home loan rates at all time lows, many Veterans have already refinanced to 30 year fixed VA fixed rates under 3.875% and reduced their mortgage payments dramatically!  Others have reduced their remaining term to 25, 20 or 15 years; saving thousands in long term interest.  Either way, there are many options available for FL Veterans to save money.

This VA refinance loan requires no appraisal (a big deal in today’ market), and most qualify with no income or asset information at all.  The Veteran has already been approved and is merely lowering his risk with a lower interest rate.

If you are a US Veteran FL homeowner and are considering to lower your monthly payment without the need of an appraisal; please call, 407.733.6425 or email me directly at  Isn’t it time to start saving now?

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

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

Refinance your FL VA mortgage with confidence & SAVE $$$

Another FL homeowner was referred to me today regarding a refinance opportunity to lower their interest rate from 5.25% to today’s much lower interest rate.  Fortunately they have a FL VA Home Loan which provides the ability to refinance with a FL VA IRRRL without having to worry about current appraised values.  To my surprise, the homeowner actually asked me the best question that every homeowner should ask when considering to refinance their FL mortgage.  “Does it make sense for me to refinance?”  Awesome question.  Here was the answer.

Since they were planning to stay in their FL home long term and they only owed another 25 years on their current mortgage; we immediately considered a 25 year or 20 year fixed rate VA home loan.  That way, they are not repeating 5 years of  payments already made.  In fact, with lower terms, more money from each payment is sent towards paying off the principal when compared to their existing 30 year FL VA mortgage payments.  All without even prepaying the mortgage.

We compared existing long term interest remaining on their existing loan against the lower interest due on the 25 year and 20 year terms and spelled out in plain English the huge advantages of refinancing to a lower term.

A monkey can lower interest rates on a refinance; but it takes a true FL Mortgage Professional to provide real dollar savings for FL homeowners.  Talk to a professional and know your true savings before moving forward.

If you think refinancing may make sense, whether you have a VA, FHA or Fannie Mae FL mortgage, call me local at 407.733.6425, I will review numbers with you to confirm the best option, even if it means that refinancing may not make sense.  Or feel free to email me anytime.

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

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

FL HARP 2.0 is a success!

With the Fannie Mae system update completed on March 17th, (Freddie Mac was on the 15th); the FL mortgage business has skyrocketed with many home owners taking advantage of the latest FL mortgage refinance with no appraisal; the incredible FL  HARP 2.0.

One of the first requests was from a previous client who purchased his home in Orlando early 2006.  After applying online, his good credit has earned him the OK to refinance from Fannie Mae with no appraisal.  By the way, he is borrowing $273,000 to pay-off his current high rate mortgage, on a home that is valued at approximately $150,000!  The HARP 2.0 refinance may be the answer everyone in Florida has been waiting on for so long.

Many home owners are refinancing to change their interest-only FL mortgage to a true principal and interest fixed rate payment.  In most cases, the payment is about the same but now, part of the payment is actually paying down the principal!  And at a much lower interest rate.  Some home owners are reducing their 30 year fixed terms to 25 years, 20 years, or 15 years.  The long term savings are tremendous.

If you, or someone you know, may need to refinance without an appraisal, please have them contact as soon as possible at 407.733.6425 or complete the contact form.  The wait is over!  Time to start saving!

FL HARP 2.0 – The no appraisal refinance!

Mid March is just around the corner and with it, the system upgrades from Fannie Mae and Freddie Mac will allow thousands of FL homeowners to take advantage of the new enhanced FL HARP 2.0 guidelines.  Fannie Mae will update on March 17th while Freddie Mac is set for March 15th.  Of course the biggest advantage in waiting for the new HARP 2.0 is the removal of the previous 125% maximum loan-to-value (LTV) amount.  The will certainly allow more borrowers to become eligible to refinance and reduce their current interest rate.

Please keep in mind that the newly revised HARP 2.0 guidelines begin next weekend.  For now, we can get started with formal applications and gathering documentation needed.  If you have a Fannie Mae or Freddie Mac owned conventional mortgage you too may be qualified to lower your monthly payment with today’s lower fixed mortgage loan rates.

You can start by contacting us directly or by visiting the following link to check if your FL mortgage  loan is eligible for the  HARP 2.0 no appraisal refinance. Lower your montlhy payment now before interest rates move.

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

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

No appraisal refinancing in Florida!

Florida homeowners have waited long enough for refinance relief.  Under the newly revised HARP 2.0, many FL homeowners will finally be able to take advantage of today’s lower interest rates.  And after mid March, qualifying may include no appraisal requirement, which will alleviate equity issues.  There are other ways to refinance today without an appraisal.  Are you eligible for the following?

A new FL VA Home Loan

If your current mortgage is a FL VA Home Loan, you may qualify and refinance to reduce your mortgage payment with a new VA Interest Rate Reduction Refinance Loan, IRRRL; without requiring an appraisal.

  • Enjoy today’ slower VA fixed rate and save more monthly!
  • Save thousands in long term interest!  Reduce your term and refinance to a new 25, 20, or 15 year fixed rate.
  • Bring no money to closing or upfront!  All closing costs and escrows can be rolled into new loan.

A new FHA Mortgage

  • If your current mortgage is a FL FHA loan, you may qualify and refinance at a lower interest rate with no appraisal requirement with an FHA Streamline Refinance.
  • Lower your monthly payment with a lower interest rate
  • Save thousands in long term interest!  Reduce your term and refinance to a new 25, 20 or 15 year fixed rate.

If you are considering dropping your monthly payment or reducing your long term interest by refinancing with today’s mortgage programs geared to alleviate any appraisal issues; call me at 407.733.6425 or email anytime to discuss qualifications.

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 benefits of HARP 2.0 for Florida homeowners

As we approach the end of January 2012 many FL mortgage professionals are gearing up for the most requested refinance program in recent years, the HARP 2.0 or no appraisal refinance.  I already have a pipeline of FL homeowners eager to take  advantage of today’s extremely lower fixed interest rates.  As with many new Fannie Mae or Freddie Mac programs, we must wait until their automated systems, DU and LP, are updated and can accommodate the new guideline changes, such as no appraisal approvals.  This will happen in mid March 2012.

Well, good things come to those who wait especially with the newly revised HARP 2.0 no appraisal refinance.

Qualified homeowners who could not refinance simply because they owed more on their homes than the current appraised values can benefit with HARP 2.0 as follows:

  • Reduce their current monthly FL mortgage payment
  • Move to a more stable mortgage , such as a new low fixed rate from an ARM (adjustable rate mortgage)
  • Simply enjoy a lower fixed interest rate
  • Reduce the term or amortization, such as new 25 year, 20 year, 15 year or 10 year

For more information or to see if you qualify to refinance under the new HARP 2.0 no appraisal refinance; please call 407.733.6425 or today.

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

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

FL home equity problems? We have solutions!

When FL homeowners call seeking to refinance their current FL mortgage and take advantage of today’s lower fixed rates; the biggest hurdle is the amount of equity remaining on their current home.  As Florida home prices have fallen the past few years; most homeowners have lost equity while others are simply upside down. There are several mortgage programs home owners can consider and should review with a FL mortgage professional when requesting to  lower their current mortgage rate.   Consider these:

  • If you have a FL FHA loan, then you may qualify for an FHA streamlined refinance.  The advantage is you may qualify without having to obtain an appraisal!
  • FL Veterans with a VA home loan, can qualify to refinance without needing an appraisal – a VA IRRRL or interest rate reduction refinance loan.  And many FL Veterans may qualify to refinance their non-VA loan to a lower rate VA home loan and borrow up to 90% of the current value!  All without monthly mortgage insurance!
  • Many homeowners with Fannie Mae or Freddie Mac mortgages may qualify under the HARP program or Home Affordable Refinance Program.   In fact, the guidelines for this program are being updated and qualified homeowners can borrow without worrying about any equity position.  The revised guidelines will be available later this month.

These are a few of the solutions FL home buyers can utilize as interest rates remain at all time lows and there should be no reason why anyone should be paying higher interest rates on their FL home mortgage.

For more information on these and many other mortgage programs, feel free to email Stephen Thaggard, or text directly at 407.733.6425.   Stephen Thaggard, NMLS#356309

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

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

Lower your FL VA loan interest rate now; it’s as easy as IRRRL

If you are a US Veteran and have been thinking about refinancing your current VA home loan to a lower fixed rate; now may be the time. Interest rates are the lowest I have seen in my 17 year FL mortgage career. There are huge advantages (less hoops to jump through) many FL Veterans enjoy when considering to streamline refinance their VA home loan with IRRRL.

IRRRL stands for Interest Rate Reduction Refinance Loan and many refer to it as a streamlined refinance program for VA home loans. Of all the benefits with this mortgage program, the major allowance is no requirement for an appraisal. And in today’s FL mortgage market, avoiding appraisal issues can be very valuable while seeking a lower VA fixed interest rate.

Credit report requirements are streamlined as well, reviewing only the previous 12 months of mortgage payment history. And keep in mind, there are usually no income requirements – so keep your pay stubs and tax returns. They may not be required on a VA IRRRL.

Also, the VA funding fee is reduced to just 0.50% and can be rolled into the new VA mortgage loan amount. And even though you cannot receive more than $500 as cash-out; everything else is typically rolled into the loan amount allowing the Veteran save more.

For more information on VA IRRRL streamlined refinance loans please 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