Hey there, it’s Bruce Woodburn with CrossCountry Mortgage with the 3 BIG Things You Need to Know. Today is October the 2nd I can’t believe it’s already October, the holidays are upon us. As Always, I wanted to give you guys this information because I think this is impactful. If you’re considering buying or refinancing a house or if you’re a real estate professional, you’ve got to be aware of some things that are happening in our industry.

1. Number one, refinance transactions. If you have already refinanced your home, fantastic, if you haven’t, you need to do it immediately. Now, you did miss out on something, because Fannie Mae and Freddie Mac have imposed a half a point increase for all refinance transactions. So what was available last week, is going to be different this week. FHA and VA have not followed suit yet, so if you’re considering refinancing an FHA or VA transaction do that right away before they change their mind and implement the same guidelines. The refinance increase doesn’t actually take effect until December 1. However, all lenders have already imposed it, because they have to deliver the loan to Fannie or Freddie by December 1. Since it’s already October it will take you 30 days to close and take them 30 days to deliver the loan to Fannie or Freddie and they don’t want to take any chances. So, you’ve kind of missed that boat, but if you haven’t refinanced and you’re still paying over four and a quarter, you owe it to yourself to give me a call. Now I won’t tell everyone that it’s the right time to refinance, in fact, I probably discourage about 50% of you from refinancing. So give me a call. I run the numbers, I don’t guess at it and I’m going to tell you the truth. If the numbers are a breakeven point within 36 months from what it costs you to refinance, I’m going to tell you to do it. If you’re over 36 months, it may not be the best thing for you to do, but I’ll run the numbers for you. Free of charge, no obligation.
2. Second thing is great news at CrossCountry Mortgage. We have now implemented our own Non-QM Products!! But what does that mean to you? It means that if you don’t qualify for Fannie Mae, Freddie Mac, Ginnie Mae, HUD, FHA, VA or USDA we will still have a program for you. That’s right, if you or your client don’t fit into the “box,” we have a box just for you! On top of that, we’re going to underwrite them ourselves!! Almost no lender out there underwrites and closes Non-QM loans in their own name.
3. Third thing that I really love, and I hope you love it as much as I do. We have brought back our construction perm loans. There are only about two or three lenders that I know of in Central Florida that will do construction perm loans. If they do, they’re only conventional, and they’re always 20% down. Here’s what I’m doing, conventional loans as little as 3% down, as long as you qualify for 3% down. I’ll do a construction perm loan 3%, 5%, 10% and 15% down. Construction perm loans with Bruce Woodburn CrossCountry Mortgage, the Loan Arranger, you call me! You know somebody that owns their own lot, call me! You want to buy a lot and build your own house, call me. I’ve got the programs, AND here’s something even better FHA construction perms 3.5 %. VA construction perms, that’s right, VA construction perms, no money down. Have you ever heard of anything like that before? It’s incredible!

Those are the 3 Big things You Need to Know. Don’t forget to listen to my show on Saturdays, noon to one, WDBO 107.3FM | 580AM. Have a great day.