It shouldn’t be a problem. There are many programs available today that require less than 5% down payment. The best thing to do would be to call us and we can find the right program for you.

Yes, the different types of loan programs being offered are changing every day. We find the best loan scenario for all our clients. Unlike big banks that are restricted to using loan programs and rates being offered at that time by the bank, we have access to many lenders. What we do is find the lender that best fits your needs. Call us today and let us show you what we can do for you.

Yes, you can. However, the rules regarding this issue are constantly changing. Your best bet would be to contact your accountant. Your accountant can inform you of your best options in regards to this.

With a fixed rate mortgage, the interest rate and the amount you pay each month remain the same over the entire mortgage term, traditionally 15, 20 or 30 years. Several variations are available, including five- and seven-year fixed rate loans with balloon payments at the end. With an adjustable rate mortgage (ARM), the interest rate fluctuates per the indexes. Initial interest rates of ARMs are typically offered at a discounted (“teaser”) interest rate lower than fixed rate mortgage. Over time, when initial discounts are filtered out, ARM rates will fluctuate as general interest rates go up and down. Different ARMs are tied to different financial indexes, some of which fluctuate up or down more quickly than others. To avoid constant and drastic changes, ARMs typically regulate (cap) how much and how often the interest rate and/or payments can change in a year and over the life of the loan. Several variations are available for adjustable rate mortgages, including hybrids that change from a fixed to an adjustable rate after a period of years.

It depends. Because interest rates and mortgage options change often, your choice of a fixed or adjustable rate mortgage should depend on: the interest rates and mortgage options available when you’re buying a house, your view of the future (generally, high inflation will mean ARM rates will go up and lower inflation that they will fall), and how willing you are to take a risk. When mortgage rates are low, a fixed rate mortgage is the best bet for most buyers. Over the next five, ten or thirty years, interest rates are more apt to go up than further down. Even if rates could go a little lower in the short run, an ARM’s teaser rate will adjust up soon and you won’t gain much. In the long run, ARMs are likely to go up, meaning most buyers will be best off to lock in a favorable fixed rate now and not take the risk of much higher rates later. Keep in mind that lenders not only lend money to purchase homes; they also lend money to refinance homes. If you take out a loan now, and several years from now interest rates have dropped, refinancing will probably make sense.

Private mortgage insurance (PMI) policies are designed to reimburse a mortgage lender up to a certain amount if you default on your loan. Most lenders require PMI on loans where the borrower makes a down payment of less than 20%. Premiums are usually paid monthly or can be financed. Except for some government and older loans, you may be able to drop the mortgage insurance once your equity in the house reaches 22% and you’ve made timely mortgage payments. The Servicing Lender will have the requirements for canceling the mortgage insurance.

Not always. While traditional banks often require tax returns, alternative lenders (also known as non-QM lenders) may not. By working with a mortgage broker, you can explore options for home loans that don’t require tax returns. You can typically prove your income using bank statements, profit and loss statements, or a CPA letter.

Under traditional home loan programs, yes. Lenders will usually verify at least two years of tax returns, often by requesting IRS transcripts. To avoid this extra paperwork, consider no-tax-return home loans, which eliminate the need for tax return verification.

Look for lenders offering no-tax-return mortgage programs. Traditional lenders often require at least two years of steady income, but non-QM lenders may have programs that only require one year of income history. These programs typically allow you to prove income through alternative methods such as bank statements or financial statements.

At Miami Mortgage Brokers, we offer personalized service and expert advice to help you navigate the complex world of mortgages. Our team of experienced professionals is dedicated to finding the best loan options tailored to your unique needs. Here’s why you should choose us:

• Local Expertise: We have a deep understanding of the Miami real estate market and can provide valuable insights into local trends and regulations.
• Personalized Service: Our dedicated mortgage specialists will work closely with you to understand your goals and find the most suitable loan products.
• Competitive Rates: We have access to a wide range of lenders, allowing us to negotiate competitive interest rates.
• Streamlined Process: Our efficient application process and knowledgeable staff will guide you through every step of the mortgage process.

Whether you’re buying a home or refinancing, Miami Mortgage Brokers can assist you at any stage of the process. Here are some key scenarios where our services can be beneficial:

• Home Buying:
  • Starting your home search: We can help you determine your budget and identify suitable properties.
  • Making an offer: Our experts can provide guidance on negotiating the best terms.
  • Closing the deal: We’ll handle the paperwork and ensure a smooth closing process.
• Refinancing:
  • Cash-out refinance: Access equity in your home for home improvements or other financial goals.
  • Lowering your monthly payment: Reduce your monthly mortgage costs.
  • Shortening your loan term: Pay off your mortgage faster and save on interest.

Contact us today to schedule a consultation and learn more about how Miami Mortgage Brokers can help you achieve your homeownership goals.

At Miami Mortgage Brokers, we offer competitive mortgage rates tailored to your individual needs. Our access to a wide network of lenders allows us to negotiate favorable terms and secure the best possible rates for our clients.

While the lowest rate might seem appealing, it’s important to consider other factors that can impact your overall mortgage costs. Our experienced mortgage specialists will carefully evaluate your financial situation and recommend the loan product that best aligns with your goals.

Why choose Miami Mortgage Brokers over other lenders?

• Personalized Service: Our dedicated team will provide personalized guidance and support throughout the mortgage process.
• Local Expertise: We have a deep understanding of the Miami real estate market and can offer valuable insights.
• Competitive Rates: Our access to a wide range of lenders allows us to negotiate competitive rates.
• Comprehensive Services: We offer a wide range of mortgage products and services to meet your specific needs.

Contact us today to schedule a consultation and learn more about how Miami Mortgage Brokers can help you secure a competitive mortgage.

At Miami Mortgage Brokers, we strive to provide accurate and up-to-date information regarding mortgage rates and estimates. Our team uses advanced technology and real-time data to ensure the information we provide is as reliable as possible. Please note that while we do our best to provide accurate estimates, there may be slight variations between the initial estimate and the final loan terms. Factors such as changes in interest rates, property appraisal values, or your personal financial situation can influence the final loan amount and terms.

We recommend working closely with our mortgage specialists to ensure that you have the most accurate and up-to-date information throughout the loan application process.