Randall Schrader's (superbroker007) Blog

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Mortgage and Lending - Competitive Insurance of Dundee
RECENT BLOG POSTS
Things that effect us most are between our ears. Did you hear the one about the fleas?  If you put fleas in a jar and put the lid on, they will learn to jump just short of the lid.  When you remove the lid, the fleas still stop short of freedom indefinitely.  If only one flea tried something new ...
11/29/2008
I am amazed to hear Realtors tell me that financing is virtually impossible.  Things have gotten harder, but financing is widely available if you talk to a pro,  Heck we just did a 100% VA loan on a 1986 single wide, with 6% seller concessions! Banks find these loans difficult to understand.  I t...
11/25/2008
Well, FHA MI is currently 1.5% of the loan amount up-front and financed into the loan amount.  So, a borrower here would have his loan increased $1,500 on a $100,000 loan.  Then, each month the borrower would be required to pay .50 (multiply the loan amount by .0005) toward a monthly mortgage ins...
11/23/2008
FHA MI is currently 1.5% of the loan amount up-front and financed into the loan amount.  So, a borrower here would have his loan increased $1,500 on a $100,000 loan.  Then, each month the borrower would be required to pay .50 (multiply the loan amount by .0005) toward a monthly mortgage insurance...
11/21/2008
Absolutely NOT True!  I am amazed to hear Realtors tell me this.  Things have tightened a little bit, but financing is widely available if you talk to a pro,  Heck we just did a 100% VA loan on a 1986 single wide, with 6% seller concessions! Some banks find these loans difficult to get their arm...
11/20/2008
FHA loans are custom made for the first time home buyer type.  Look at the loan scenarios available to us below.  Since the FHA insures these loans the banks have next to nothing to lose.  Unlike a few years back, FHA loans are super easy to do.  If you are in Florida, and you don't know if you w...
11/20/2008
Seniors have a special borrowing stream of their own.  HECMs or reverse mortgages use the equity in the home to actually pay the senior every month.  The money can also be received in a lump sum or as a line of credit. There are no monthly payments, so it's vitually impossible to fall behind or w...
11/20/2008
A day doesn't go by when a Realtor from a state outside of Florida calls, asking for any ideas on financing a manufactured home in their state.  There is not much I can tell them because the state decides how they want to handle these homes and I am an expert on financing in Florida.  BIG NEWS: ...
11/19/2008
Now seniors can easily borrow against the equity in their homes and qualification is SIMPLE and EASY.  HECMs or reverse mortgages use the equity in the home to actually pay the senior every month.  The money can also be received in a lump sum or as a line of credit. The money received is not repa...
11/17/2008
When I get clients looking at purchasing their first home, they typically want to get into the home with little money down, get a great interest rate on a fixed mortgage and get a great price on the home.  Now may be the best opportunity in decades to accomplish all of the above! Banks are unloa...
11/16/2008
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Randall Schrader

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