Robert Floris CFP, AMP
Lead Mortgage Agent
M08004919
1-855-55-TRUST
mortgages@robertfloris.com
Before answering the question, what is a collateral switch mortgage, we should first answer the question, what is a collateral mortgage? A collateral mortgage is a mortgage where the lender has registered a larger amount on title on [...]
What happens if my appraisal comes in low? In a declining real estate market like the one we are having, it can be a serious problem when securing a mortgage if the appraised value comes in lower than expected. At the moment we are [...]
Should I declare bankruptcy? Bankruptcy may seem like an easy solution. But if you are thinking about declaring bankruptcy, make sure you understand all of the consequences and make sure that it is worth it! We have had clients who [...]
What is the maximum mortgage amortization? Before answering the question what is the maximum mortgage amortization, we should first explain what an amortization is. Our clients will often get confused between the term of the mortgage and the [...]
First things first: even though it is generally better if you CAN pass the stress test, you don’t necessarily need to pass the stress test if any of the following are true: 1. You are refinancing your home. 2. If you are purchasing a home[...]
Is Now A Good Time To Buy A Rental? Depending on where you are located, housing prices peaked earlier this year when mortgage rates were still low. The tables have turned since then with mortgage rates higher (maybe still not peaked) and housing [...]
Why Today's Mortgage Trends Could Affect Realtors In my 30 years in the mortgage business, I have never seen the proverbial roller coaster ride like I have seen in the real estate and mortgage markets of this year. Sean and I have decided to share [...]
Will Your Payment Rise By 45%? If you are in a fixed rate mortgage, the answer is no (or at least not until your mortgage matures)! If you are in an adjustable rate mortgage (ARM), your interest rate would need to more than double to reach that[...]
What is the catch when using a B lender? There are definitely catches to using a B lender. The first one: you need to have a “substantial” down payment. When we say “substantial”, it generally means at least 25% down. So that would mean a [...]
Top 4 Home Equity LoansFor anyone needing to access the equity in their homes, here is a summary of the top 4 types: Conventional mortgage: if you get a conventional mortgage, you’re probably looking at a fixed rate of over 4%. Right now is [...]