Category Archive: Refinances

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

What Kind of Mortgage is Right for Me?

Undoubtedly, the process of finding the right type of mortgage can be a difficult one. With many factors, such as interest rate, down payments, and value impeding with the process, it can be easy to choose a mortgage that just simply isn’t a good fit. In order to avoid problems faced by hundreds of thousands of Americans, follow the tips below to find your perfect match.

Mortgages are used to help hopeful homeowners in buying a house, whether it is their first or their fifth. Few individuals have enough liquid funds in to enable them to purchase a property, so mortgages can be a helpful tool. The word “mortgage” actually came from a Law French term meaning “dead pledge”, meaning that the “pledge” dies when either the obligation is upheld or the property is taken through foreclosure. There are two main categories of mortgages: a fixed-rate mortgage (FRM), and adjustable-rate mortgage (ARM). A fixed-rate mortgage has an interest rate that remains fixed for the term of the load. Typically, these loans are for thirty years. Adjustable-rate mortgages have an interest rate that is fixed for a period of time, after which it will then periodically adjust up or down to match the market index. This type of loan is used with fixed rate funding is difficult to obtain or needlessly expensive. Risk is transferred to the owner, so the interest may be 0.5% to 2% lower than with a fixed-rate mortgage.

So what kind of mortgage is right for you? It really depends on your career status and life goals. For example, those planning on buying a house for the long haul, such as for the rest of their life, should go with a 30-year fixed rate. This type of mortgage doesn’t involve changing interest rates, and is therefore the safest. For those planning on refinancing 15-20 years before retiring, a 15- or 20-year fixed or adjustable rate mortgage is the best option. A recent graduate with strong potential for increased earnings could do best with a one-year adjustable-rate mortgage.  A typical family who is planning on living in a home for 4-5 years should explore options with a 5/25 hybrid loan. For those with a good income that tends to be inconsistent month-to-month, an option adjustable-rate mortgage may be best. Lastly, for someone who has relocated and has a good income and saving, an interest-only mortgage could be a interesting comparison.

We at Mortgage Perspectives understand that the hunt for the perfect mortgage plan can be a difficult, complex process. Our team of dedicated Florida mortgage professionals can help you find and actually afford your dream home. Please call us today 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

HARP 2.0 may help FL homeowners save more money!

It is already 2012 and most homeowners here in Florida have found it impossible to refinance to today’s lower fixed interest rate simply because their property value has dramatically declined.  Well if you are not behind on your FL mortgage payment, you may be able to refinance and save more money through the newly revised HARP 2.0. Consider the following possible advantages to refinancing your higher rate FL mortgage with the help of  HARP 2.0.

  • Refinance with no loan-t0-value restrictions.  Appraisals may be waived entirely (after March).
  • Save money with lower monthly mortgage payment after locking in today’s lower fixed interest rates.
  • Change your ARM (adjustable rate mortgage) to a conventional fixed rate for pure peace of mind.
  • Save thousands and shorten your mortgage term to 25, 20, 15 or 10 year fixed amortized loan.
  • If you don’t have MI (mortgage insurance) on your existing mortgage, no MI is required, per HARP 2.0.

Our Area Manager, Greg Peele, expects this specific Fannie Mae and Freddie Mac mortgage will be the single most popular program designed to allow qualified FL homeowners finally refinance without the worry of home value.  We are here to help anyone with any questions on how and when to qualify for the HARP 2.0 FL refinance.  If you need assistance or have concerns please email or call 407.733.6425.

Happy New Year!

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 eligible to refinance under HARP 2.0?

We believe the most popular refinance program in Florida for 2012 will be underwritten through HARP 2.0.  This program may allow a qualified homeowner to refinance their FL mortgage without the need for an appraisal!  Imagine?  Getting a conventional lower interest rate FL mortgage without having to worry about your current home value?

Before you get too excited, the first step with HARP 2.0 is to determine whether you have an eligible Fannie Mae or Freddie Mac mortgage.  Please visit FANNIE MAE LOOKUP for Fannie Mae to determine of Fannie Mae owns your FL mortgage and for those with Freddie Mac loans please visit FREDDIE MAC LOOKUP.

If you find that your current conventional FL mortgage is eligible, please do not hesitate to call 407.733.6425 or email to get prequalified and lower your mortgage payment with a lower FL fixed rate mortgage.

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 without an appraisal under HARP 2.0

HARP or Home Affordable Refinance Program was initiated to assist millions of  homeowners attempting to refinance their underwater mortgages.  Without sufficient equity, otherwise qualified homeowners could not take advantage of exceptionally low fixed interest rates.  At the start of the HARP “solution”, to be eligible, qualified homeowners were required to have conventional mortgages sold to Fannie Mae prior to a specific date and were limited to refinancingto 105% and later 125%, of the current values or LTV (loan to value).  This didn’t help much here in Florida where many homeowners owed even more on their FL mortgages.  That is, until the launch of HARP 2.0!

HARP 2.0 may allow qualified homeowners to refinance without requiring an appraisal!  Of all of the current guidelines, this is the most important improvement.  When we run your loan through the automated underwriting system for Fannie Mae, Desktop Underwriting, we’ll know immediately if you are qualified and can refinance without an appraisal.  Calls are already coming in regarding the news of the no-appraisal change to HARP 2.0 and I am sharing the truth about the no appraisal approach.   The truth is that Fannie Mae will have their underwriting systems updated in March of 2012 to allow for the probability of a no appraisal approval. Qualified homeowners can apply today, but why not wait until March to take advantage of the improved HARP 2.0?

This will help hopefully millions of underwater homeowners especially in hard hit areas like our great State of Florida.  For more information on HARP 2.0, please feel free to email me directly 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