Low Florida mortgage rates are offered to the public through the EZZ Financial providers. Florida mortgage borrowers are truly surprised when they find out just how low our Florida mortgage rates are. We deliver low discounted wholesale mortgage rates to our clients each month, and you also have the opportunity to take advantage of the rates we offer by contacting us today. How do we do it? EZZ delivers millions of funded loans every month to our wholesale lenders and in return we are able to offer the lowest mortgage rates to our borrowers on Florida properties. Shop around, and you will find that other lenders, bankers, and mortgage brokers try to beat our rates but are unable to offer the same great discounts due to the sheer volume we deal in. Florida mortgage borrowers come to us from many walks of life and the majority of all our borrowers qualify, find out how much you can save with our low Florida mortgage rates today.

Florida mortgage refinancing comes with many options for homeowners to consider. EZZ Financial is here to help in deciding if mortgage refinancing is the best choice for you and provide a clear understanding of what options are available in your Florida mortgage refinance. From refinancing to lower interest payments, to changing the terms in the original mortgage or simply using the equity in your home for debt consolidation, there are many reasons a homeowner decides to refinance their Florida mortgage. Every situation is unique and EZZ Financial is here to help you make the right choices. When refinancing your home loan there are important key factors to consider such as the amount of equity in the home, credit score and the benefits of a new mortgage vs. existing terms. Sometimes what may sound good does not come out as you would expect on paper. Contact us today and let EZZ help answer your Florida mortgage refinancing questions.

Over the past few years, we’ve all heard what a mess the mortgage industry has been: this is why we at EZZ want to make your experience anything but. As leading Florida mortgage brokers, we offer the lowest, most discounted Florida mortgage rates around. Because we deliver millions of funded loans to our lenders, we are able to be among the cheapest mortgage brokers in Florida. Other brokers may try, but they are unable to match, or beat, our prices! You might say, when it comes to being a mortgage broker in Florida, we are the most affordable east of the Pacific. Contact the Florida Mortgage brokers with the unique ability to source a wide range of mortgage deals on your behalf. Start today and let us assist you in finding an affordable mortgage tailored to your unique needs and circumstances.

It’s Black Friday and do we have a deal for you!  Mortgage rates at an all time record breaking low.  Call today. 

4.500% (4.592% APR) with zero points for 30 years

4.125% (4.197& APR) with zero points for a 15 year mortgage

Call for other pricing incentives.

Click here to see a sample (does not reflect your actual loan scenario)

The new GFE and the relationship between the HUD-1 and the Good Faith Estimate

To further protect consumers, the RESPA reform establishes tolerance levels for changes to costs laid out in the GFE so that no consumer will have to pay a wildly different amount for their actual closing costs than those previously detailed in the Good Faith Estimate.  Three separate categories of the tolerance levels were created.

Category I: Charges that cannot change from the GFE to the HUD-1;

1. Borrower’s origination charge
2. Credit or Charge for interest rate selected
3. Transfer Taxes

Category II: Charges that can increase in aggregate no ore than 10%;

1. Title Services
2. Lender’s title insurance
3. Appraisals
4. Credit Reports
5. Tax Service
6. Flood Certification
7. Mortgage Insurance Premium
8. Recording Charges

Category III: Charges that can increase with no cap;

1. Initial Deposits for escrow reserves
2. Daily Interest Charges
3. Homeowners Insurance
4. Lender Required services where the borrower shops for and selects their own third party provider
5. Services the borrower chooses to have that are not required by the lender

The GFE may be revised and reissued (in which event there could be increases in the charges) prior to settlement due to certain “changed circumstances”.  The HUD defines these circumstances as acts of God, war, disaster or other emergency; information about the borrower or transaction that changes or is found to be inaccurate after the issuance of the GFE (e.g., credit quality, loan amount, property value or other information); newly found information that was not previously relied upon as well as other possible circumstances.

The USDA home loan or (aka – 502 Direct Loans) for Florida residential buyers are designed to help the low-income or “very low income” home buyers.  All applicants can finance 100% of the purchase price of their new home and the mortgage payments are adjusted according to the household’s income.

The purpose of the USDA Florida home loan is to help low-income borrowers purchase homes in rural areas.  The mortgage can be used to build, repair, renovate or relocate a home, or to purchase and prepare site, including providing water and sewage facilities.

How can you qualify?  Borrowers/applicants for direct loans must have very low or low incomes.  This is defined as below 50% of the are median income; low income is between 50% and 80% of AMI-moderate income is 80-100% of AMI.  Families must be without adequate housing, but able to afford the mortgage payments, including taxes and insurance, which typically are within 22% to 26% to enhance repayment ability.  Applicants must be unable to obtain credit elsewhere, yet have reasonable credit.

USDA mortgage loan terms are for up to 33 years (360 months) and 38 years (456  months) for those with incomes below 60% of AMI and who cannot afford the 33 year-term.  The mortgage rate is based on the Government’s cost of money.  However, the interest rate is modified by payment assistance subsidy.

What are the requirements of the home?  The housing must be modest is size, design, and cost.  Modest housing is property that is considered modest for the area, does not have market value in excess of the applicable are loan limit, and does not have certain prohibited features.  Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards.  Manufactured housing must be permanently installe3d and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.

• No mortgage insurance
• No Cash Reserve Requirements
• 102% of Appraised Value to cover closing costs
• No Cap on mortgage amount other than the Appraisal (plus 2% USDA-RD Fee)
• 6% Seller Concessions allowed to cover closing costs
• Gifts allowed and DO NOT NEED to come from a relative
• Try USDA before FHA because it requires not down payment
• minimum 620 credit score on all borrowers for NO MONEY DOWN
• No Declining Markets (open to all counties)

Prospects:  We still believe the prospects are good for extension of the tax credit.  There is real concern in the Administration about the strength of the economic recovery.  Treasury Secretary Geithner was quoted in the November 2^nd Business Week magazine stating: “we’re not going to make the mistake many countries made in the past of putting the brakes on too early and creating the risk of a weaker recovery with even higher levels of unemployment.”  On the negative side, the stories about fraud in tax credit program (e.g. children and current homeowners receiving the tax credit)  and concerns about the program cost obviously do not help. 

While the industry trade associations are making a major push for the expansion of the tax credit to all homeowners, it appears unlikely that it will be expanded beyond first-time homebuyers).  We will keep you apprised.

 Extension of Temporary Mortgage Limits

 We also could hear this week or next about whether the temporary mortgage limits will be extended for another year.   We are still optimistic that the temporary limits will be extended.  The Administration fully understands that the jumbo mortgage market is not functioning properly and that the GSEs and FHA will play a critical role for the 

There will be an important vote in the Senate this week on the housing tax credit provision.  The “Dodd-Lieberman-Isakson” amendment would extend the tax credit to June 30, 2010.  It would expand the credit to any homebuyer and raise the income limits to $150,000 ($300,000 for joint returns).  The amount of the tax credit would remain at $8,000.   

Prospects:  We still believe the prospects are good for extension of the tax credit.  There is real concern in the Administration about the strength of the economic recovery.  Treasury Secretary Geithner was quoted in the November 2^nd Business Week magazine stating: “we’re not going to make the mistake many countries made in the past of putting the brakes on too early and creating the risk of a weaker recovery with even higher levels of unemployment.”  On the negative side, the stories about fraud in tax credit program (e.g. children and current homeowners receiving the tax credit)  and concerns about the program cost obviously do not help. 

While the industry trade associations are making a major push for the expansion of the tax credit to all homeowners, it appears unlikely that it will be expanded beyond first-time homebuyers).  We will keep you apprised.

Extension of Temporary Mortgage Limits

We also could hear this week or next about whether the temporary mortgage limits will be extended for another year.   We are still optimistic that the temporary limits will be extended.  The Administration fully understands that the jumbo mortgage market is not functioning properly and that the GSEs and FHA will play a critical role for the

November 23, 2009:

Sales of existing U.S. homes increased more than forecast in October to the highest level since February 2007, spurred in part by a tax credit that lured first-time buyers.

Purchases rose 10.1 percent to a 6.1 million annual rate from a 5.54 million pace in September, the National Association of Realtors said today in Washington. The median sales price decreased 7.1 percent from October 2008, the smallest decline in more than a year.

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Our mortgage professionals can give you FREE loan advice to help you understand the mortgage process.

Wondering which loan is right for you? Not a problem! We can help determine which loan will fit your needs for your home purchase, refinance or debt consolidation needs.

If you have any questions, please contact us or call us!

Thanks!

 November 24, 2009

Mango, Florida – Home Purchase $85,000

Miami, Florida – Home Refinance $170,000

Green Covesprings, Florida – Florida Refinance $380,000

Ocala, Florida – Home Refinance $220,000

Graceville, Florida – Florida Refinance $275,000

West Palm Beach, Florida – Home Refinance $300,000

Clermont, Florida – Home Refinance $300,000

Coconut Grove, Florida – Home Refinance $220,000

Miami, Florida – Home Purchase $65,000

Deltona, Florida – Home Refinance $125,000

Spring Hill, Florida – Florida Refinacne $150,000

Lithia, Florida – Florida Refinance $230,000

Cooper City, Florida – Florida Refinance $190,000

Miami Beach, Florida - Home Purchase Loan $420,000

Palm Bay, Florida – Flordia Refinance $180,000 

Wellington, Florida – Florida Refinance $400,000

Boca Raton, Florida – Florida Purchase Loan $2,500,000

West Palm Beach, Florida – Florida Refinance $405,000

Jensen Beach, Florida – Florida Purchase $335,000

Palm Beach, Florida – Florida Refinance $1,125,000

Tammpa, Florida – Florida Purchase $146,000

Miami Beach, Florida – Florida Refinance $288,000

Boyton Beach, Florida – Florida Purchase $195,000

Lakeland, Florida – Florida Refinance $310,000

Port Charlotte, Florida – Home Purchase Price $170,000

Gainesville, Florida – Florida Refinance $300,000

Fort Walton Beach, Florida – Home Purchase $160,000

Saint Augustine, Florida – Home Refinance $200,000

Orlando, Florida -Florida Refinance $230,000

Plant City, Florida – Florida Refinance $130,000

Cocoa, Florida – Florida Refinance $240,000

Jupiter, Florida – Florida Refinance $150,000

Windsor, Florida – Home Purchase $50,000

Orlando, Florida – Home Purchase $125,000

Tallahassee, Florida – Home Purchase $70,000

Wacissa, Florida – Florida Refinance $130,000

North Port, Florida – Home Purchase $80,000

Alachua, Florida – Florida Refinance $310,000

Milton, Florida – Florida Refinance $145,000

Dover, Florida – Home Purchase $180,000

Myakka City, Florida – Home Refinance $290,000

Thank you for comparing our mortgage rates and knowing we are simply the best!

Some of the factors that can determine if an FHA loan is right for you:

• Loan To Value
• Home Value
• Size of Existing Loan
• Credit Score
• Amount of Cash You Want to Take Out

With the many changes that have occurred with FHA loans, it is possible that even if you didn’t qualify six months ago, there may be a loan program that is right for you.

One of our mortgage professionals can help you determine if an FHA loan is right for you quickly with no costs.