Edison Mortgage and Associates - The McClosky Team, Inc. NMLS #: 2352446

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Edison Mortgage and Associates - The McClosky Team, Inc. NMLS #: 2352446

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Edison Mortgage Group - Russ McClosky provides Florida mortgages to the Cape Coral, FL area.

11/03/2026

Many first-time buyers still believe they need a full 20% down to purchase a home. The truth? That’s one of the biggest myths we hear every November.

At Edison Mortgage & Associates, we help buyers explore programs that may offer lower down payment options based on eligibility, credit, income, and property type. Every situation is unique, and understanding your options early can make the process feel much more achievable.

If you’re a first-time homebuyer and want to review what you may qualify for, call us at (239) 633-4663. We’re here to help you take the next step with confidence.

11/03/2026

You're self-employed. Your business brings in revenue, but your tax returns show deductions that make your qualifying income look different from your gross earnings.

Could you still qualify for a mortgage?

Possibly. But the answer depends on the program, how your income is documented and whether you meet the lender's requirements.

Here are three things worth discussing with a mortgage professional:

1. How is your income calculated?
Business revenue is not the same as qualifying income. Lenders may review tax returns, business expenses, ownership details and other documentation to determine the income they can use.

2. What documents might be needed?
Depending on the loan program, you may be asked for personal or business tax returns, bank statements, profit-and-loss statements or other records.

3. Are there other programs to explore?
Some alternative financing programs assess income using bank statements or other documentation rather than relying solely on traditional tax-return calculations. Their requirements, costs and terms can differ from conventional mortgages.

Don't assume you're ineligible just because your income is not straightforward. Equally, don't assume business deposits automatically qualify as income.

The best next step is to discuss your actual financial situation and determine which options, if any, may be appropriate.

Explore alternative financing at https://www.edisonmortgagegroup.com/ or contact Edison Mortgage and Associates at (239) 633-4663.

10/31/2026

Do you need a 20% down payment to buy a home? Not always.

For an eligible borrower using an FHA loan with a 3.5% minimum down payment, here's what the basic calculation looks like:

Example purchase price: $300,000
Illustrative down payment: 3.5%
Down payment amount: $10,500
Remaining base loan amount: $289,500, before any applicable financed upfront mortgage insurance premium or other adjustments.

But here's the part buyers should not overlook: $10,500 is not necessarily the total cash you'll need to buy the home.

You may also need funds for closing costs, prepaid property taxes and insurance, inspections and other expenses. FHA loans also have mortgage insurance requirements.

Your minimum down payment and eligibility depend on the loan program, property, credit profile and applicable lending requirements.

The takeaway? Don't assume you need 20% down, but don't budget for the down payment alone either.

Want to explore your options? Visit www.edisonmortgagegroup.com

10/28/2026

A buyer finds the right home. The offer deadline is approaching. Then a financing question comes up that nobody expected.

This is why mortgage conversations should happen early, not just when a contract is on the table.

For Florida Realtors, here are three things worth discussing with buyers before they start making offers:

1. What monthly payment fits their budget?
The purchase price is only part of the picture. Property taxes, homeowners insurance, mortgage insurance, and other expenses can affect affordability.

2. Which loan programs should they explore?
Conventional, FHA, VA, USDA, and alternative financing programs have different eligibility requirements. The right fit depends on the borrower's circumstances.

3. What documentation should they prepare?
Income records, tax returns, bank statements, and other documents may be needed depending on the loan program and the borrower's employment situation.

Since 1998, Edison Mortgage and Associates has worked with Florida Realtors through changing mortgage markets. Our focus remains on helping Realtors and their clients explore financing options and prepare for the next step.

Florida Realtors, call us first for your clients' pre-approval needs.

Call Russ and Deb at (239) 633-4663 or visit www.EdisonMortgage.Homes.

10/27/2026

Thinking about a second home or vacation property in Florida? Our team is helping buyers explore options in beautiful areas like Naples, Sanibel, and Marco Island.

A few key factors can impact your second home financing, including down payment requirements, occupancy rules, reserves, insurance, and even the property’s location.

If you’re ready to talk through what your second home mortgage might look like, call us at (239) 633-4663.

10/25/2026

Behind Edison Mortgage and Associates are Russ and Deb McClosky, bringing years of mortgage industry experience and a commitment to helping Florida homebuyers and real estate professionals navigate financing.

Having worked through changing market conditions, they understand the importance of experience, communication, and exploring the right financing options for each situation.

Whether you're purchasing a home, considering refinancing, or looking for a dependable mortgage partner for your clients, Russ and Deb are ready to start the conversation.

Get to know our team and explore your mortgage options at www.EdisonMortgage.Homes.

10/22/2026

A pre-approval is an important step, but it doesn't mean every property or offer will automatically fit your buyer's financing.

Before your client makes an offer, have a conversation about these three things:

1. The monthly payment
Make sure your buyer understands the estimated mortgage payment and other housing costs, including property taxes, homeowners insurance and any applicable mortgage insurance or association fees.

2. The cash needed to close
The down payment is only one part of the equation. Closing costs and prepaid expenses can affect how much cash your buyer needs.

3. The outstanding paperwork
Ask whether the lender still needs income documents, bank statements, explanations or other information to continue reviewing the file.

A little coordination early can help everyone move forward with clearer expectations.

Florida Realtors, partner with a mortgage team that understands the importance of communication throughout the process.

Call Russ and Deb at (239) 633-4663 or visit https://www.edisonmortgagegroup.com/ to discuss becoming a Realtor partner.

10/22/2026

Mortgage points can be a helpful tool when you're planning your home financing, but they’re often misunderstood. In simple terms, points mean paying a little more upfront to potentially secure a lower interest rate for the long run.

Whether buying down your rate makes sense depends on your goals, how long you plan to stay in the home, and your overall budget. Our team at Edison Mortgage & Associates encourages every borrower to compare options carefully and talk through the numbers with a trusted mortgage professional.

If you're wondering whether mortgage points are right for you, give us a call at (239) 633-4663. We're here to help you make the choice that best supports your long-term plans.

10/19/2026

My Heart - My WORLD!

10/16/2026

Florida homeowners, when was the last time you looked at your mortgage to see if it still aligns with your goals? A quick refinance check-in can make a big difference.

Many homeowners explore refinancing to lower their monthly payment, change their loan term, remove PMI, or access equity for projects or expenses. Every situation is unique, and our team at Edison Mortgage & Associates is here to help you review your options — no pressure, no assumptions, no promises of savings.

If you're wondering whether a refinance makes sense for your current situation, give us a call for a personalized review at (239) 633-4663.

Thinking about it already? Tell us what you’d want to improve about your current mortgage.

Address

1325 SE 47th Street, Suite F-3
Cape Coral, FL
33904

Website

https://edisonmortgage.homes/

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