Shows / Buying Florida
Buying Florida
Didier Malagies is a leader in the Tampa Bay Mortgage industry, serving Pinellas, Pasco, Hillsborough counties, and beyond with his sights set on educating residential and commercial buyers regarding Florida purchases. With over 20 years of expertise, Didier has built relationships with realtors, bankers, and clients based on integrity and his drive to provide the best customer experience in the state by being there from beginning to end of every purchase.
Whether you're looking to move…
Episodes
- Buying Florida
different ways of paying off your mortgage sooner
Paying off your mortgage earlier can save you money on interest and give you financial freedom sooner. Here are some strategies to help you achieve this goal…
- Buying Florida
Is it accurate the credit scores you are pulling
Why is it that when you pull your credit scores it is usually not the same as when you have one pulled for a mortgage? Credit Karma is a great source but the…
- Buying Florida
Portability and homestead and what you need to know
The concepts of real estate portability and homestead are key aspects of property tax laws in some jurisdictions, notably in states like Florida. Here's an…
- Buying Florida
What is the process like for a Reverse Mortgage
I like to see what is available for you by getting your age and the approximate value of your home. Once we have that and go over what you may have available…
- Buying Florida
What happens after your home closing with all the mail coming to you?
After closing on a mortgage, many new homeowners notice a significant increase in the amount of unsolicited mail, often referred to as "junk mail." Here's why…
- Buying Florida
Do you have enough insurance coverage with all the appreciation on your home
How long has it been since you have lived in your home? what did you pay for it back then and what is the value today after all of the home appreciation? Maybe…
- Buying Florida
PMI is different on FHA, VA, and Conventional Mortgages
VA Mortgages have no monthly PMI, they have a funding fee that goes on top of the loan and it varies from a first-time VA buyer to a second-time user if there…
- Buying Florida
The loan limits for FHA, Va, and Conventional
For Conventional loans, limits are now at $766,550 before entering Jumbo territory. You can buy a home for $806,842 putting 5% down and still be Conventional…
- Buying Florida
A DSCR loan uses rental income only to qualify for a mortgage on an investment property
A residential DSCR (Debt Service Coverage Ratio) loan is a type of mortgage typically used for investment properties, where the approval and terms of the loan…
- Buying Florida
Needing only 1 year's return for the self-employed for the last 5 years for a Conventional Mortgage
I learned a hard lesson on a loan last year, I had a borrower who was self-employed for the last 2 years but another company was self-employed for 3 years. I…
- Buying Florida
Why use a Mortgage Broker
Mortgage brokers are intermediaries between borrowers and lenders, offering assistance in finding and securing mortgage loans. Here's what they typically…
- Buying Florida
What you need to know about FHA203k
There are two main types of FHA 203(k) loans: Standard 203(k) Loan: This is for more extensive renovations and repairs, including structural changes and…
- Buying Florida
What are the 3 different types of FHA Mortgages
1. Regular FHA where you can put down 3.5% have lower credit scores, higher income debt ratios 2. FHA203k - Mortgage you can do with an added feature of having…
- Buying Florida
Mortgages and Inflation
The Gov't is printing 1 trillion every 100 days, and the costs of everything are out of control. The time will come when they will be printing a trillion every…
- Buying Florida
What opportunities are their for First-Time Homebuyers
Depending on where you live there is an opportunity in certain areas that you can get $2,500 towards the closing costs. You also get a lower rate and monthly…
- Buying Florida
What is going on with interest rates
Rates are moving up now and several factors could be contributing to it, the 1 trillion dollars that the gov't is printing every 100 days could be…
- Buying Florida
What do you need to know about VA Mortgage
Competitive Interest Rates: VA loans often offer competitive interest rates compared to conventional loans, making them an attractive option for eligible…
- Buying Florida
Getting an FHA203k or a Conventional Renovation Mortgage
With More homes going on the market, people losing jobs and the cost of everything going up, when a home comes on the market it may need a New Roof, A/c…
- Buying Florida
What different type of mortgages are there
You have Conventional Mortgages, FNMA/FHMC, FHA, VA, Reverse Mortgages, Bank Statement loans, DSCR, Reverse Mortgages, and 1099 mortgages. Depending on your…
- Buying Florida
Refinancing your mortgage using the blended rate
What if you refinanced your lower-rate first mortgage into a higher rate but consolidated all of your debt into one low payment. Getting rid of credit cards…
- Buying Florida
1% down for the purchase of your home
First-time homebuyers put down 1%, and the lender gives you 2% towards the down payment, no strings, and no liens. You have 3% down and now work on getting the…
- Buying Florida
Bridge loans for commercial loans and residential flip properties
Bridge loan to acquire, renovate, and stabilize a multifamily investment property. When the rents are under the market and the units are outdated. This program…
- Buying Florida
Is a Reverse Mortgage tabboo
Do you not tell anyone that you have one? Are there others in similar situations Spouse and has passed on, only fixed income such as social security. Are food…
- Buying Florida
DSCR - using the rental income only to qualify for an investment property
DSCR (Debt Service Coverage Ratio): DSCR is a financial ratio that measures a company's ability to meet its debt obligations. In the context of loans, it…
- Buying Florida
Using Business Bank Statements to qualify for a mortgage
12-month business bank statement loans" typically refer to a type of loan program where a borrower's income is determined based on their business bank…
- Buying Florida
Buying a home that is still in probate, what could go wrong?
Why list a home when it is in probate? Anything can happen during probate, it is hard to lock in an interest rate and notify the landlord if you are a renter…
- Buying Florida
A list of things you need to know about Condos
Find out if you have a dog and what is the weight they accept. I just had a deal fall through due to the dog weighing 40 pounds and the weight allowed was 25…
- Buying Florida
Need a little extra income to qualify for a mortgage and over 59 1/2 years old
If you are over 59 1/2 and have a retirement account, you can use monthly distributions to qualify for a mortgage. You must have 36 months of payments in order…
- Buying Florida
Is it time to think about a Reverse Mortgage to help supplement income, health care, home repairs, etc.,
10,000 people a day are turning 65 years old, some have social security, pension, or 401k. I see a lot with just Social security Is it time to think about…
- Buying Florida
Should I lock in my interest rates when I am under contract on a new home
As you can see every day the market is insane without reason. We Have just dropped big time with rates over the last month. When you are buying it is a…
- Buying Florida
Happy New Year and when is it time to refinance your mortgage
If you have purchased your home in the last 2 years maybe it is time to see this year when it makes sense to refinance your mortgage for those with a low…
- Buying Florida
Cyber attacks now at title companies
I have had several closings where the title company has been cyberattacked and shut down for days. I had a closing last week and still shut down and another…
- Buying Florida
wishing you a Great Holiday and my prediction on rates for 2024
Thank you for 37 years of letting me have the opportunity to serve you. This is not a job but a wonderful opportunity to meet new people and develop new…
- Buying Florida
Now able to buy a duplex, triplex and quad owner occupied with 5% down
You could only buy an owner-occupied duplex, tri, or quad with FHA, now you can buy it with a Conventional loan with 5% down. Think about having a home where…
- Buying Florida
Mortgage loan limits are going up January 1, 2024
Conforming loan limits going to $766,550 FHA loan limits going to $498,257 HECM going to $1.1 million That will allow you to get more home without having to go…
- Buying Florida
What else you need to know about condos when purchasing
thenWhat is a limited review and what does it mean? 25% down for owner occ and 30% for second homes and investment properties What is required? A condo…
- Buying Florida
Review your monthly mortgage statement in November
Review your statement to see if your property taxes jumped up, especially the homeowners insurance. I reviewed mine before doing this video and my insurance…
- Buying Florida
Check on the property taxes when buying a home, was it sold last year? is it an estate sale?
When purchasing a home now are you looking at the property tax bill the seller just received? or are you looking at 2022? If you go under contract on a home…
- Buying Florida
Mortgage Interest Rates
Rates have been steadily increasing and now seem to have been coming down. Take advantage of locking in your rate - for now, this seems like a bit of a break…
- Buying Florida
Down payment assistance - the good and the bad
up to 5% of the purchase price can be used for the downpayment assistance program there are forgivable and nonforgivable loans, which one do you want? rates…
- Buying Florida
you can't make this stuff up - mortgage story
Beautiful loan, 800 credit scores, 38 years on the job, huge 401k, everything going on 1 week before closing - the lender denies the loan because the listing…
- Buying Florida
What you need to know about Condos when getting a mortgage
Putting down 25% on a primary and 30% down on second and Investment properties is called a limited review. When you put less down then there is a full review…
- Buying Florida
23 millions young Adults are still living at home
45% of young adults are still living at home. 23 million is the number today. Everything changed, in 2020/21 it was all cash buyers or conventional. 2023 FHA…
- Buying Florida
The different income/debt ratios on Conventional, FHA and VA Mortgage
Conventional will allow up to 50% income-debt ratio, FHA is up to 55% and Va has gotten approvals for up to 59.5% income/debt ratio. you take the monthly…
- Buying Florida
With rates in the 7% range does it make sense to purchase or refinance?
Yes, rates are in the 7% range, does it make sense to purchase or refinance? Purchase - are you comfortable with the payment? the probability is that you will…
- Buying Florida
Would a Hecm help supplement your retirement
Age and Eligibility: HECMs are typically available to individuals aged 62 and older who own their home outright or have a low mortgage balance. The older you…
- Buying Florida
FHA has more changes you need to know about
When a borrower is turned down by FHA, a warning flag goes out and stays in the connection for 6 months as well as the appraisal. FHA is now waiving that where…
- Buying Florida
Does it make sense to refinance and consolidate your student loans
Advantages: Lower Interest Rate: Mortgage interest rates are typically lower than the rates on unsecured student loans, especially if you have a good credit…
- Buying Florida
Does it make sense to refinance or purchase with these higher rates
Whether it makes sense to refinance or purchase with higher interest rates depends on several factors, including your individual financial situation and the…
- Buying Florida
What happens after I close on my mortgage
You get a month off of not making a mortgage payment, close in August your first payment is in October File for your homestead in the weeks after closing Do…
- Buying Florida
Is it time for your kids in their 20's still living at home to think about buying a home
Financial Stability: Before purchasing a home, it's important for your kids to have a stable source of income and a good credit score. They should also have a…
- Buying Florida
Technology in place to keep you updated during the mortgage loan process from beginning to end
We use a system called Arive, which will update the realtors and the borrower on the status of the file from beginning to end so you always know where you are…
- Buying Florida
Are you in underwriting and nothing is moving forward with your mortgage and no more answers
Are you in underwriting and no one is getting back to you on the status of your loan? Do they keep asking you for more information and nothing seems to be…
- Buying Florida
What you need to know about FHA Mortgage
Mortgage Insurance: FHA loans require borrowers to pay an upfront mortgage insurance premium (MIP) at closing and an annual MIP as part of their monthly…
- Buying Florida
What you need to know about paying off medical collections when getting a mortgage
Removal of collection account: When you pay off a medical collection, the collection agency may update the account status to "paid" or "settled" on your credit…
- Buying Florida
Building your kids credit after graduating high school
Educate them about credit: Teach your kids about credit, including the importance of responsible credit management, how credit scores work, and the impact of…
- Buying Florida
Update on rates and fees on second homes
Increased risk: Lenders perceive financing a second home as riskier because borrowers are more likely to default on payments for a second property compared to…
- Buying Florida
What happened to my monthly mortgage statement and what you need to look out for
My mortgage statement after receiving it for 10 years got mailed to a previous address. then the escrow payments each month were used to pay down the loan at…
- Buying Florida
What happens when the Govt prints another 10 Trillion ?
Whether a reverse mortgage makes sense for an individual depends on their specific circumstances and financial goals. A reverse mortgage is a type of loan…
- Buying Florida
Does it make sense to refinance your mortgage with higher rates?
Can you consolidate credit card debt, student loans or a car and save money with a higher interest rate on a mortgage? How much will it cost to refinance and…