Steve McRory's Blog

Mortgage and Lending - Pro Option Mtg. 888-662-4404 - nmls#390492/204296
2021 Morgage Programs in Florida are getting stronger and more flexible                                                       Steve McRory  Pro Option Mortgage          888-662-4404   Fax: 877-440-0909                  ...
If I were a Realtor, I'd be urging buyers, who own property with equity, to look into accessing dead equity with a 95% or 100% Cltv  HELOC for the down payment of another purchase. Basically, they would be purchasing with 100%, No Pmi financing.
2nd Mortgages to 100% LTV or CLTV cash out are back!Finally lenders are allowing borrowers to access their Dead Equity to use for all kings of things like home improvements, investing, etc. 
In the beginning:Everything is always great, you love the Loan Officer for quoting the lowest rate, closing costs and/or down payment.  The Loan Officer answers all your calls or calls you back within minutes and responds to all your emails the same. A week before closing:All is great until a wee...
These loan programs are making it possible for self employed borrowers to Refinance or Purchase property in 2020.  Different programs have been around for years now, but relatively few borrowers have had access to these programs because the vast majority of Banks don't offer these products. They ...
Dealing only with the Listing Agent in hopes of getting a better deal? Not a good strategy.  Why? Because if the listing agent is getting the whole 6%, they’ll actually work harder to make you pay the highest price for their Seller in effort to justify such an massive equity grab! Dealing only wi...
Saying you have a 700 credit score is not considered as good as it used to be, especially with new scoring modules for the mortgage indusrty.  The below is a good rule of thumb 840 - 800 Best 799 - 760 Excellent 759 - 740 Very Good739 - 720 Good719 - 700 Above Average699 - 640 Average639 - 620 Be...
Banks, Mortgage Bankers, Mortgage Brokers and Credit Unions are not Licensed Credit Report Vendors and do not distribute copies of their reports on borrowers.   However, Federal law requires each of the three nationwide consumer credit reporting companies - Equifax, Experian and TransUnion to giv...


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