IQualify with Mike

08/04/2025

Closing costs 💵 gotcha feeling down 😟? Here are 3 great solutions:
1️⃣ Roll them into your loan: In many cases, you can roll the closing costs into your loan. Specifically, the USDA loan will allow this if the home appraises for more than you're buying it for. The other government loans (FHA & VA) will allow you to roll their upfront fees into your loan instead of paying them out of pocket.
2️⃣ Negotiate Price: This is a popular option lately where, instead of asking the seller for a lower price, you ask them for a "credit" that you can use to pay for your closing costs. Or in a hot seller's market, you offer a higher price for the home and ask for the difference back as a credit.
❗The only caveat with this strategy is the home must appraise for the higher price, or you're back to the negotiating table.
3️⃣ Down Payment Assistance: There are always options out there for down payment assistance, and these funds can also be used to cover your closing costs, or even to buy a lower interest rate.

Mike's NMLS: 1481179
Co NMLS: 160265
Sun American Mortgage
Equal Housing Lender
Borrowers must qualify for the loan program. This is not a commitment to lend.

04/11/2025

SCAM ALERT for Washington County - please read and be aware.

SCAM ALERT! There have been many individuals calling in concerned about a tax lien they received. These are not from our office and should be discarded immediately. Please share and help us spread the word as these notices are very realistic and we want to make sure our residents are protected.

04/05/2024

Don't forget to negotiate pricing on your next home purchase with Sun American Mortgage! 💰🏡 Your dream home might be more affordable than you think.

04/04/2024

Ever wonder how compounding interest works? 💡 It's like planting seeds that grow into a money tree! 🌱💰

Here are quick tips to get started:
Start early: Time is your biggest ally!
Be consistent: Regular contributions make a big difference.
Patience pays off: Let your money grow over time. Get excited about your financial future! 💪

04/03/2024

What is Mortgage Insurance? 🏠💡 It's a safeguard for lenders in case you can't make your mortgage payments.

By paying a premium, you protect the lender, but it doesn't benefit you directly. It's often required if your down payment is less than 20%.

04/03/2024

Come get the inside scoop from the iQualify Team at Sun American Mortgage, and the LuxRE Group with eXp Realty!

04/02/2024

Dreaming of owning your own home? 🏡 Don't let your credit score hold you back!

If I could turn back time, I'd tell my younger self: "Pay attention to your credit score NOW!"

Your credit score plays a crucial role in qualifying for a home loan. Start building it early and make smart financial decisions. 🏠💳

09/14/2022

🤩 Great news for homebuyers! 🤩

PennyMac has announced that they are raising their conventional loan limits! Buyers have even more power to buy without relying on a Jumbo Loan product. Call me today to see if you qualify!

** This is not a commitment to lend. Not all who apply will qualify. All applicants are subject to credit and income approval. Speak to a licensed loan officer for more details on how to qualify for this loan program.**

07/19/2022

Come hang out WEDNESDAY for some FREE HOTDOGS!!! ⭐️🌭🇺🇸🌭⭐️

06/17/2022

A: This rate hike has been priced into mortgage rate offerings since late last week. The fed's hand is usually fairly obvious to industry insiders (the investors who offer rates to us mortgage lenders, and major bond market traders), and so they take action early to hedge against upcoming changes.

B: ARM's (Adjustable Rate Mortgages) are BACK!! Most ARM's have an introductory period where the rate is FIXED; anywhere from 3yrs, 5yrs, or even 10yrs before the rate actually adjusts.

Want to know more? Give me a ring any time at 989-878-0225 📲🙌🏡🔑📃🖋💲💰

Here’s what the Federal Reserve’s 0.75 percentage point rate hike — the highest in 28 years — means for you by Third Party | Jun 17, 2022 | Industry Updates, Mortgage Information, News/Current Events, Real Estate Agent Tools, Real Estate News | 0 comments ‹ Previous The Fed plans to ‘res...