Tampa Mortgage Advisors

08/19/2022

‼️ Tampa, Florida ranks #5 in the top 20 American cities seeing the highest increase in rent prices from 2021 to 2022. ‼️
1. Naples-Marco Island, FL (51.6%)
2. North Port-Sarasota-Bradenton, FL (46.5%)
3. Port St. Lucie, FL (40.4%)
4. Cape Coral-Fort Myers, FL (38.6%)
‼️ 5. Tampa-St. Petersburg-Clearwater, FL (30.7%) ‼️

With increases like that, it is time to consider investing in your future by becoming a homeowner. Using the money you throw away on rent every month to pay for a home you own is easier and more affordable than you might think. Many people can even qualify for down payment assistance.

Talk to one of our loan experts to see if this might be a better path for you: (813) 593-7200

08/14/2022

🏠 The current housing market appears to be tilting slightly more in the favor of buyers, marking a reversal of last year's trends, the latest research from Redfin shows.

🏘 Overall housing supply is now 4% higher from a year ago. Approximately 8% of listings on the market each week are seeing a price cut, Redfin said.

The online brokerage reported only 44.3% of bids written by its agents in July faced competing offers, falling for the sixth month in a row to the lowest share since April 2020. One month ago, 50.9% of buyers faced competition, while in July 2021, the share was almost 63.8%.

〽️ Compare hundreds of loans all at once. See current rates and fees instantly: https://bit.ly/3Swt15X

Source: https://www.nationalmortgagenews.com/news/housing-market-is-tilting-in-favor-of-buyers-redfin-says

08/07/2022

🏠🏡 There is some good news for those thinking about buying a home. Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession.

👉 For the week ending August 4, 30-year mortgage rates fell to 4.99%, the lowest level in four months. This was down from a 2022 high of 5.81%.
👉 Home prices are down 3.8% from their peak during the four-week period ending June 19, 2022.
👉 On average, 7.7% of homes for sale each week had a price drop (A record high as far back as the data goes, through the beginning of 2015.)

Unless otherwise noted, this data covers the four-week period ending July 31.

📈📉 Instantly compare the rates/fees of hundreds of home loans all at once: https://bit.ly/3Swt15X

Source: https://www.redfin.com/news/housing-market-update-demand-picks-up-rates-below-5-pct/

07/29/2022

"There's a common misconception that the Fed "sets" (or hikes/cuts) mortgage rates directly. Even among people who know better, there is often a belief that changes in the Fed Funds Rate (the thing the Fed actually hikes/cuts) translate in some direct way to changes in mortgage rates.

No...

The Fed meets 8 times a year to discuss changes in monetary policy. Apart from emergency, unscheduled meetings, these represent the 8 chances the Fed has to hike or cut the Fed Funds Rate.

What is the Fed Funds Rate?

The Fed Funds Rate is a target set by the Fed for interest charged by big banks to lend money to each other on an overnight basis. It has several policy tools that ensure the target is reliably hit within a quarter of a percent margin (one reason that the Fed communicates rate targets in 0.25% windows).

In other words, the Fed "decides" (for lack of a better term) what the shortest-term loans will cost. From there, the market decides what longer term loans will cost. Whereas the Fed Funds Rate pertains to loans that last 24 hours or less, the average mortgage lasts 3-10 years depending on the housing and mortgage environments at any given moment in history.

The only potential exception for the Fed setting mortgage rates directly would be certain lines of credit that are based on the PRIME rate (which does change with the Fed's hikes/cuts). This is a vast minority of the mortgage market and nothing to do with the dominant 30yr fixed loan."

Read full article at: https://www.mortgagenewsdaily.com/markets/mortgage-rates-07262022

For information about home loans in Florida visit:
http://www.tampamortgageadvisors.com

07/26/2022

At Tampa Mortgage Advisors, we are dedicated to finding you the best loan for your personal needs. We have over 20 years of experience in our industry and are committed to offering you the lowest interest rates with no lender fees. Our loans are tailored to your individual needs, so you'll never have to worry about being approved for a loan that doesn't work for you.
We know how important this decision is, which is why we also offer 30-minute loan approval times and an easy application process so you can get on with planning for your future!
We’re here to help you make your dream of homeownership come true. Call us today at (813) 593-7200 or visit us at www.tampamortgageadvisors.com

07/20/2022

🏠 Most mortgage programs for first-time homebuyers require you to put money down to buy a home, often 3 - 3.5% at a minimum. Down payment assistance can help you cover this cost if you don’t have much money saved up. To qualify for assistance, you generally must meet the following criteria:

- Be a first-time homebuyer
- Have a credit score of at least 640
- Take a homebuyer education course
- Qualify for a loan with a participating lender
- Fall below income limits in your area

Talk to Loan Advisor

07/16/2022

🏠 Let me take this opportunity to introduce myself -- I am Tom Smith from Tampa Mortgage Advisors. We are a state-wide lender in Florida that focuses on first-time homebuyers. If you are interested in buying your first home or if you want to refinance an existing property, please check us out at www.tampamortgageadvisors.com

07/13/2022

‼️ VA Home Loans offer more flexibility ‼️

🏘 You don’t need a large down payment and a high credit score to buy a home. The U.S. Department of Veterans Affairs (VA) works with lenders to provide low-cost mortgages with expanded qualifying criteria.

‼️ VA Mortgage Programs ‼️
• Available to eligible veterans, active-duty personnel, and some spouses
• Pay off high-interest credit cards and debts through VA cash-out refinance for current VA loan buyers.
• Down payment as low as 0%
• Limited closing costs and no mortgage insurance payments
• Loans with fixed or adjustable interest rates
• For homes with 1-4 units, condos, planned unit developments, and manufactured homes.

🏘 Contact us today to see if a VA loan is the right fit for your unique situation.

📞 1 (813) 593-7200
💻 www.tampamortgageadvisors.com
NMLS #2342850

06/10/2022

Those with lots of high-interest debt may benefit from consolidating their various loans into a single loan at a lower interest rate.

A debt consolidation mortgage is a single loan using the available equity in your property to help pay off debts such as high-interest credit cards, car loans, and personal loans. By releasing some of the money you’ve already paid towards owning your home, you could reduce the amount of debt you owe overall, simplify your budget and take the pressure off your finances. A debt consolidation mortgage could help you reduce your overall monthly payments, leaving you with ‘freed-up’ cash to put towards your debts or to provide you with a more affordable standard of living.

06/05/2022

🏡 Our goal is to help find the right loan for your individual needs. We understand that every borrower is unique and we work hard to get the lowest interest rate possible, without charging any lender fees. And if you think it will take months to get approved? Not with us! Our closing times are some of the quickest in the industry. 🏡

Visit our website and see for yourself:
https://www.tampamortgageadvisors.com

06/05/2022

From small decisions to big ones, a lot of thought goes into your new-construction home. So, don’t overlook one of the most important decisions of all: your mortgage lender! From our personal service to quick turnaround, experience what sets us apart – call us today: 1 (813) 593-7200

06/03/2022

When you're starting your mortgage journey, it's easy to get confused by the lingo. But don't worry—we've got you covered.

APPRAISAL: A written estimate used to determine the value of a property based on information on recent sales of similar properties. An appraiser visits the property and spends a few hours inspecting a home's interior and exterior, evaluating the home's features and fixtures, and measuring the square footage. The appraiser then compares the house to other similar houses that have recently been sold in the neighborhood -- These are known as "Comps."

For more mortgage information visit us at https://www.tampamortgageadvisors.com