Boca Mortgage Blog

 

 What is Mortgage Planning?


Mortgage planning is the process of evaluating your mortgage options in the context of your overall financial objectives. Your mortgage is most likely your single largest debt, and your home is most likely your single largest asset. The strategy you use today carries financial consequences that can impact your life for years to come.  My mission is to help you improve your life by the proper use and consideration of various mortgage options. Here's how:

 

Step #1: Initial Conversation

Our initial conversation will focus on these questions:

  • What are your housing objectives and why?
  • What does your current cash flow situation look like?
  • What large expenses should we take into account as we help you develop a budget for the future (college funding, retirement planning, elder care needs, etc.)?
  • What can I do to help?

Step #2: Analyze & Evaluate Your Options

The next phase of our relationship will focus on:

  • What are your housing, debt planning and cash flow options?
  • What, if any, mortgage products and strategies would be useful to you?
  • What is the likely short and long-term impact of these mortgage options on your overall financial situation?

Step #3: Develop & Implement Your Personal Mortgage Plan

Once we've discussed your options, and how these various options may impact your overall housing and financial situation, it's up to you to decide on which plan of action works best for you. I'll be here to answer any questions and be a resource to you in any way I can. I'll also coordinate the whole process with you and other professionals such as CPAs, CFP® professionals, attorneys, Realtors, builders, insurance professionals and other qualified advisors.

 

Step #4: Monitor Your Mortgage Plan Through an Annual Mortgage and Housing Review

Mortgage planning is a life-long process because your financial situation is likely to change from time to time. As your mortgage planner, it's my role to help you monitor these changes as needed and through an annual conversation. Most often, this process involves periodic assessment of:

  • Your fluctuating cash flow needs
  • Changing interest rates and housing market conditions
  • Family changes and life events including job changes, college funding, retirement planning and elder-care needs

Here's how mortgage planning is different than the traditional "shopping for a mortgage" experience:

"Mortgage Planning" with Me

"Shopping for a Mortgage" with any of the 500,000 + Mortgage Salespeople in the US

5-Star Experience

Overwhelming and/or Confusing Process

Focus on Which Mortgage Options Fit into Your Life, and Why

Focus on Whether You Fit into the Mortgage Lender's Box, and How

Consider the Mortgage Transaction in the Context of Your Overall Financial Situation & Objectives

Consider the Mortgage Transaction "In a Vacuum"

Customized Options for Your Scenario

One Size Fits All

Mortgage Salesperson Who Puts His/Her Relationship With You Ahead of the Transaction

Mortgage Salesperson Who Puts the Transaction Ahead of His/Her Relationship With You

Contact me so we can get started!
Posted in:Home Loan and tagged: mortgage
Posted by Leonard Silvestri on April 17th, 2017 11:50 AM


A recent study in mortgage volumes in the United States released by the National Association of Realtors revealed that January 2015 saw a huge increase in new mortgages applications. According to the study U.S. home buyers completed more contracts for purchasing pre-existing homes than recorded since August of 2013.

This increase in potential home buyers shows a positive trend in the real estate market and an upward resurgence of property purchases. Mortgage lenders and real estate brokers have referenced that the market is moving in a positive direction, and this report shows strong evidence in favor of that theory.

So where do we go from here? The best time to take advantage of an upward trend is at the beginning of the ascension. Making the most of a growing real estate market with competitive buyers and willing pre-existing homes for sale starts with pre-qualifying your purchase. This aggressive strategy places potential buyers far ahead of the competition and implies to owners that your bid is more serious and credible than others. If you're looking to take advantage of the growing real estate market and boost in pre-existing home sales contact our office. Call 561-395-4264 and get pre-approved today!

Posted in:General and tagged: mortgagehomeowners
Posted by Leonard Silvestri on March 10th, 2015 12:01 PM
With the holidays keeping everyone occupied, how could December possibly be a convenient time to list a property?

Sellers listing properties during the holidays may be pressed to sell. Controlled inventories mean less homes to choose from, and a greater sense of urgency to sell homes. Holiday buyers are often serious and motivated by a career switch relocation or an unexpected change in housing. Extra vacation time during the season means buyers have more time during the week to scope out homes.

Because of the general disinterest among sellers at this time of year, for-sale homes are available in limited supply. "Old expires", homes that were for sale years before but never sold, may be available. Interested buyers can call brokers and ask about homes that aren't listed yet, but are being prepped for sale in the near future. Calling the right agents could result in finding hidden deals.

With less buyers in the market to compete with, it may be easier to negotiate a favorable price for a home you're interested in. Making a purchase before the year ends can also be advantageous to taxes, allowing the buyer to deduct property taxes, mortgage interest, and loan points on this year's tax return.

This holiday season could be the ideal time to purchase your new home. If you are interested in buying a home in time for the new year, contact our mortgage experts today.
Posted by Leonard Silvestri on December 16th, 2014 4:31 PM

How important is your credit score when preparing to purchase a home?

Your credit score is an extremely important factor in purchasing a home. Your credit score can greatly impact the entire home buying experience for better or worse. At Alternative Mortgage Group our goal is to assist you in securing the right mortgage for your needs. We help our clients understand the overall structure of how credit reporting works and improve their score to improve their buying power.

Being proactive and building a strong history of positive credit scores will certainly come in handy when you’re ready to purchase your first home. There are a few core factors to keep in mind in regards to your general credit standing.

  • How long have you had credit?
  • Do you pay your bills on time?
  • How much do you owe and number of accounts?
  • Number of times your credit has been checked?

If you have any questions regarding your credit and how it affects the home buying process contact our mortgage experts today.

Posted in:General and tagged: credit scoremortgage
Posted by Leonard Silvestri on December 5th, 2014 2:33 PM

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