Hollywood Florida mortgage loans and Broward County home mortgages.

The most important point initially is that the mortgage sky is not falling. The much needed credit market correction back to more reasonable loan underwriting standards has been way overdue. There a many very attractive lending programs available for the right borrower. These programs include 100% purchase financing options; even for those with less than perfect credit. (Income must be documented) Yes, there have been significant changes recently in the residential mortgage market place. The extensive media coverage of the so called, “sub prime,” crisis is hard to miss. Much of the trouble in the “sub prime,” market was due too a host of unusually reckless loan programs. These programs were aggressively sold to consumers by lenders eager to fill Wall Street’s appetite to sell mortgage back securities. Stated Income loans, No Ratio & No Documentation loans; once carefully administered; were being implemented by many new inexperienced mortgage brokers, correspondent lenders and mortgage lenders. These persons or entities saw Wall Streets involvement as an easy money making opportunity. Many jumped in hard and head first. Unfortunately as it turns out a great number had the cerebral areas located towards the tail end of the entity. Is hind sight 20/20?

Real estate financing continues on; it’s just a question of aligning yourself with an ethical mortgage professional; one who commits in writing to proceed only in your best interest. The Mortgage Broker has never been more important to the borrowing community. Banks have recently become viewed as safe havens. Banks are often well managed and originate responsible loans. That said they also want you to utilize only their loan products. How does this affect you? You interact with Bank A for a home loan. They disclose terms and you agree and close the loan. Later you find that Bank B was offering the same terms but a .50% better in rate. Obviously Bank A was not going to say, “We would love to help you but right now Bank B is offering the same loan term and they are a .50% better in rate.” That is why you must contact HT Schoem Mortgage! We are sent rates daily from all the major bank mortgage providers. HT Schoem Mortgage then reviews all programs for terms and rate structure on your behalf. This DOES NOT create any added costs to you; if fact in many cases a mortgage broker can get more favorable terms that the banks retail loan officer. The typical spread between mortgage broker pricing and bank retail pricing is .75% in interest rate. You just need to make sure you are working with the right broker; one who is working in your best interest. To ensure your satisfaction HT Schoem Mortgage provides a written, “Code of Conduct,” guarantee. This document clearly states; specific action steps, service expectations and reliable rate and pricing scenarios.

You will not find mortgage calculators or other so called mortgage tools on this web page. What you will find as much helpful information as possible; updated regularly. (See Blog Tab) We want to educate and then guide you through the real estate financing process.

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