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We all know by now that as long as you are in a binding contract by April 30th and closed by June 30th you will meet the dates specified to qualify for the Homebuyer Tax Credit. Here in Central Florida that tax credit easily represents 5-10% of the average purchase prices we are seeing, for first...
I have heard great things from a few friends that attended RainCamp NY, so make the date Orlando- March 22 Active Rain comes to Central Florida! I'm planning to be there- will you? Gerry Suarez, Jr. Your FHA Loan Pro!First, I want to extend a sincere and heartfelt thanks to ALL of you who made th...
From the horses mouth- this is the way our FHA Commissioner David Stevens is thinking when it comes to the changes being proposed for FHA.  I wanted to take a moment to make sure you are familiar with events surrounding a sweeping set of policy changes for FHA announced earlier this week. The ann...
Recent changes in the Real Estate Practices Act (RESPA) have caused much confusion in the mortgage industry lately. The Good Faith Estimate (GFE) that was supposed to make mortgage loans cheaper and easier to understand is not accomplishing either goal. One thing it has done, however, is severely...
100 days left including today folks! This post is certainly deserving of a re-blog as the scenarios Heather talks about will happen to some. Will it be you who misses out on the Tax Credit because you waited too long? Gerry Suarez, Jr. Your FHA Loan Pro! Your Running Out of Time on the First Time...
FHA Commissioner David Stevens has been quoted dozens of times already regarding a press release just made available on the HUD website. While journalists have tried to interpret the data, many rumors have been spread. Now it's time to separate truth from fiction What changes are happening to FHA...
Since the extension of the Homebuyer Tax Credit on November 6, 2009 the IRS has been developing the new form needed to collect it. Because the Tax Credit was expanded to include "long time residents" the form required substantial revision. Well the new 5405 form is available at this link, and the...
  When it was announced about a year ago that HUD was changing the old Good Faith Estimate (GFE) there were no comments from the industry supporting it. HUD researched it extensively (see the impact analysis-571 pages worth) and clearly stated in the Federal Register that the intent of the new d...
The start of a new year always marks the imminent deadline to file for homestead exemptions in Florida. Here in Central Florida the exemption can add up to $600/yr or more of savings, but it's important to know how and when you can file. Each County in our area has a different procedure for filin...

Gerry Suarez Jr.

FL Mortgage Guru
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Local information regarding Mortgage lending in Central Florida including Orange, Seminole, Osceola, Lake, Volusia and Marion Counties. Also providing up to date information on HUD and government loan programs, and first time buyer programs. I'm required to tell you I'm not acting on behalf of HUD/FHA or the US Government!