Anthony Savarese - Mortgage Loan Originator

This St. Paddy’s Day, let’s not just wear green, let’s talk green and make those home-buying dreams come true!

True or False: Self-employed individuals can’t get a mortgage

If you’re self-employed, waving goodbye to your mortgage dreams is a must. Spoiler Alert: That’s a big ol’ FALSE! 🚫

Being your own boss doesn’t mean you can’t own the boss of all homes. It’s all about knowing the right moves and getting your financial ducks in a row.

So, self-employed friends, let’s debunk some myths and talk about how you CAN secure that mortgage. Got questions or your own success stories? Drop them below and let’s inspire each other! 👇

The comeback is always stronger than the setback!

Life’s journey is marked by challenges, but each one prepares us for a stronger comeback. In the face of setbacks, remember they’re temporary. We rise, empowered by our experiences, ready for what’s next. Your current struggle?

It’s just a pause before a powerful resurgence. Believe in your strength—Your comeback will be monumental.

Should You Prepay Your Mortgage? Pros and Cons

Is prepaying your mortgage the golden ticket to financial freedom? Let’s dive deep!

For some, it’s a savvy move to slash interest and boost equity. For others, it might sideline more lucrative investments or essential savings.

Before you decide:

✅ Pros: Slash interest costs, pay off sooner, build equity fast, and potentially boost your credit score.

❌ Cons: Could trim tax deductions, divert funds from higher-yield investments, delay paying off higher-interest debts, or hinder other financial goals. Plus, watch out for prepayment penalties!

Every mortgage journey is unique. Weighing the pros and cons can guide you to the smartest choice for your financial future. Dive into our detailed exploration to make an informed decision.

🏡 Spring into action this season and make your home-buying dreams come true.

Let’s march into those mortgage plans together—because there’s no better time than now to plant your roots.

Happy Leap Day to all and Happy Birthday to all those Leap Year babies, also known as leaplings!

How the Rent Stole Christmas

Raise a 🤚 if rent is taking over your holidays this year! It might be time to ditch the lousy lease and find yourself a solid mortgage that will treat you better.

Have questions about the getting pre-approved for a mortgage? Send me a DM and I’ll help you understand what you need to get started.

T or F – Capital gains tax

Today’s question: The 1031 Exchange lets you dodge capital gains taxes like Neo dodges bullets in The Matrix, by swapping one investment property for another. True or False? 🏢↔️🏢

1️⃣ Team True: You’ve done your homework! Give yourself an A+ in real estate finance. 📚👍

2️⃣ Team False: Thanks for playing, but you might wanna check the rulebook again. 📖👀

Drumroll, please… It’s TRUE!

The 1031 Exchange is the real estate investor’s secret handshake for deferring those pesky capital gains taxes. 🤝💸But, always consult your tax guru before making any big moves.

Did You Know – Unexpected Repairs

Unforeseen repairs and maintenance can catch new homeowners off guard and hit them hard financially. While a thorough home inspection can reveal some of these potential issues, others might not surface until you’ve settled into the home for months or even years. That’s why it’s wise to have a dedicated home savings fund that you contribute to monthly. This ensures you’re financially prepared for any unexpected costs that come your way.

THERE’S NO PLACE LIKE HO HO HOME!

What better gift is there than giving yourself the gift of home ❤️ ?

If you need a mortgage broker to help ease the process and make sure your bases are covered, I’m here for you – just reach out whenever you’re ready!

Home buying 101 – Stay focused on your budget & priorities

Ready to embark on the thrilling adventure of home buying? Time to put on your superhero cape and embrace the power of the Do’s and the wisdom of the Dont’s! 🏡✨

🔸 Let’s start with the Do’s:

Do your homework, research the market, and get pre-approved for a mortgage. Do find a real estate agent (like me! 👋) who will be your fearless guide through the process. And do trust your gut – if it feels like the right home, go for it!

🔸 Now, onto the Dont’s:

Don’t skip the home inspection, it’s your superhero shield against unexpected surprises. Don’t let emotions cloud your judgment – stay focused on your budget and priorities. And definitely don’t forget to celebrate when you find your dream home – you deserve it!

Let’s conquer the world of home buying with flair, confidence, and a touch of fun! Get ready to find that perfect place to call your own and let the adventure begin!

Down Payment Hacks

Dreaming of buying a house but stuck in the rent cycle? Trust me, you can save for that down payment even while you’re renting. Let’s get into the nitty-gritty! 🌟

🔑 Budget Like a Boss: Take control of your money by following a budget. Know where every dollar is going.

🔑 Ditch the Debt: Pay off your debts to free up more money for your down payment. Imagine saving an extra coupe grand a year!

🔑 Roomie Love: Consider getting a roommate to split the rent.

🔑 Be a Minimalist: Cut back on unnecessary spending. Those daily lattes can add up!

🔑 Side Hustle for the Win: Pick up a side gig to boost your down payment fund. Every little bit helps!

So, who says you can’t save for a down payment while renting? With a little creativity and discipline, you’ll be holding those house keys in no time! 🏡🔑

Caught in the Target aisles again? 😄 Remember, while those finds are great, they won’t appreciate like real estate! As your go-to mortgage broker, I’m here to help you invest in something that grows in value.

🏡📈 Swap your shopping spree for a property key! Let’s turn your real estate dreams into reality.
Ready to make a move that appreciates more than your Target haul? Give me a shout!

How Does 3-2-1 Mortgage Buydown Work?

Ever heard of a 3-2-1 mortgage buydown? It’s a buzzword that’s been making the rounds, and it might just be the ticket to lower interest rates for the first three years of your mortgage. But hold your horses! 🐎 Before you jump in, let’s break down what it really means for you.

🔑 What is a 3-2-1 Mortgage Buydown?
It’s a way to lower your interest rates for the first three years. You pay an upfront fee, and in return, your interest rate drops by 3% the first year, 2% the second, and 1% the third.

🔑 Who Pays for It?
The seller, buyer, or even a builder can foot the bill. Sometimes, it’s offered as a perk to entice buyers.

So, there you have it! A 3-2-1 mortgage buydown can be a tempting offer, but it’s crucial to know the ins and outs before making a decision. If it sounds too good to be true, it probably is. Always do your homework and consult with trusted experts

Success is getting what you want.
Happiness is wanting what you get!
Remember… working hard is how you get both!

What’s your favorite Holiday cookie recipe?

‘Tis the season for treats galore! What’s your favorite?…. You can only choose one! Leave a…

⭐️ … Gingerbread Cookies
🐢 … Turtle Cookies
💋 … Peanut Butter Kiss Cookies
🎅 … Kris Kringle Cookies

Moving to a Home You Can’t Afford?

Planning a move? Let’s talk about making sure that the new address comes with financial peace of mind. 🏡💰

🔸 First up, aim for a down payment of at least 20%. Trust me, your future self will high-five you for it. 🙌

🔸Next, let’s talk monthly payments. Make sure your monthly costs, including taxes, insurance, and any HOA fees, don’t gobble up more than 25% of your take-home pay.

🔸 Now, let’s get real for a sec. If selling your home means you’ll owe more than you’ll earn from the sale—hold up! 🛑 That’s called being ‘underwater,’ and it’s a no-go. At the very least, aim to break even, but ideally, you’ll want to have some extra cash to kickstart that new down payment.

Not sure if you can afford to move? No shame in that game! Stay put and focus on building that equity. When you’re ready, your dream home will be waiting. 🏠✨

Planning a move? Let’s talk about making sure that the new address comes with financial peace of mind. 🏡💰

Home Buying Do’s & Don'ts

Are you revved up and ready to dive into the world of home buying?

Before you take that plunge, let’s lay down some ground rules. Trust me, these Home Buying Do’s & Don’ts aren’t just tips—they’re lifelines for navigating the sea of dream homes and budgets!

So let’s get into it 🔑

✅ DO Stick to Your Budget: Keep your wallet safe and sound by staying within your means. Your future self will thank you!

❌ DON’T Forget Your Future: A two-bedroom might be cute now, but will it still be if you decide to expand your family?

Your quick and easy guide to not just surviving but thriving in the homebuying jungle. Happy house-hunting, and may the odds of finding your dream home be ever in your favor! 🏡🔑

Failing to provide extra documents after pre-approval...

Today, we’re diving into a topic that’s as important as finding your dream home: the dreaded paperwork! 📑 Specifically, what happens when you don’t provide those extra documents your underwriters are asking for, even after you’ve been pre-approved for a mortgage? Spoiler alert: It’s not pretty

So… What happens if you don’t provide requested documentation?

Even if you’re pre-approved for a mortgage, underwriters always need more information. If they ask for documentation you can’t or don’t provide, they won’t be able to clear your loan conditions. This could cause them to decline your loan.

Avoid letting a minor oversight derail your journey to homeownership.

What Is a 3-2-1 Mortgage Buydown?

🏡 Ever heard of a 3-2-1 Mortgage Buydown? No? Well, buckle up because it’s about to get interesting!

This magical mortgage hack lets you start with a lower interest rate that gradually increases over 3 years.

✅ Year One: Enjoy a rate that’s 3% lower!
✅ Year Two: It’ll bump up but still be 2% lower!
✅ Year Three: Just 1% lower before it levels out.

Learn more how this can make your homeownership dreams come true! ✨

Are you traveling or staying home for holidays?

The holidays are a time for family and friends to get together and have fun. Most importantly, it’s a time for everyone to take a break and relax.

How do you plan on spending your holidays this year?

Hello December!
🌨️🎄 As we step into the festive season, let’s not forget about our home goals! Despite the chilly weather, the mortgage landscape is bustling with opportunities.
I’m here to guide you through your home financing journey, ensuring you get the best deal to make your holiday season extra special.
🏠✨ Let’s make your home dreams come true this winter!

Have you thought about your down payment?

Money isn’t everything, but everything needs money! Have you thought about your down payment?

An ideal down payment in the eyes of a lender is 20% of the home’s purchase price. By putting down 20%, you don’t have to pay private mortgage insurance (PMI). Putting 20% down can also make you a more attractive borrower. But depending on the price of the home, 20% could be out of reach. In fact, most first-time homebuyers put down less than 10%. FHA loans allow down payments as low as 3.5%. Some Veterans Affairs (VA) mortgages allow for no down payment. USDA is a $0 down program as well.
Reach out to me to see which is right for you!

Homeownership Goals

Ready to embark on the thrilling adventure of home buying? Buckle up and let’s dive into the exciting world of long-term goals and smart investments! 🌟💰

As you take this leap, it’s time to put on your visionary glasses and envision the future you desire. Consider not just the here and now, but also your career aspirations, family plans, and the vibrant tapestry of your lifestyle.

So, let’s break it down and offer a thoughtful perspective:

1️⃣ Career Goals: Will this home align with your professional aspirations? Consider the proximity to job opportunities and the potential for growth in the area.

2️⃣ Family Plans: Are you planning to expand your tribe? Think about the space and amenities you’ll need to accommodate a growing family.

3️⃣ Lifestyle: What activities and hobbies bring you joy? Look for a neighborhood that supports your preferred lifestyle, whether it’s proximity to parks, cultural attractions, or a vibrant community.

Remember, buying a home is more than a transaction—it’s an investment in your future and a reflection of your dreams. So, let’s put on our visionary hats, consider the long game, and find that perfect home that aligns with your aspirations! 🏡✨

A dream does not become reality through magic.

Just like anything in life — relationships, career, health — you get out of it what you put in. Dreams are no different.

Whether it’s landing your dream job or buying your dream home, you need to put in the effort to achieve it.

If finding your dream home is your number one priority, reach out to me and see how I can help you get pre-approved!

KITCHEN ISLAND OR KITCHEN PANTRY?

More space to store the supplies for the meals you’ll cook, or more space to cook your meals in? Is there an ‘all of the above’ option? lol

This is a tough one! BUT if you had to pick only one…..Which would you choose?

Happy Thanksgiving, everyone! 🦃

I hope you are spending your day with loved ones and having a wonderful, thankful day.

The Emotional Purchase Trap

Strap in, house hunters🏠 Get ready for the ultimate twist in the house-hunting saga – The Emotional Purchase Trap! It’s like a rom-com, but with budgets and mortgages.

Take a deep breath, steady your heart and hold that wallet tight. Off we go!

1️⃣ Love at First Sight: You spot a stunner, your heart races, and suddenly you’re writing an offer letter. Whoa there, speedy! Let’s slow down and do some due diligence first. 😅

2️⃣ Red Flag Ignoramus: When in love, every house looks flawless. But remember, even the prettiest homes can have skeletons in the closet… or basement, or attic. 👀

3️⃣ Wallet Workout: Crushing on a house can make us stretch our budget to skyscraper heights! But remember, a broken heart can be mended; a broken bank account? Not so easy. 💔💸

4️⃣ Tomorrow? What Tomorrow?: We can get so swept up in a home’s charm that we forget about future needs. Will this cute cottage still cut it when the family doubles, or triples? 🤔

How long does it take to get pre-approval letter?

Getting a mortgage pre-approval letter is typically a quick process, but it can be lengthier in some instances.

Depending on the mortgage lender you work with, and whether you qualify, you could obtain your pre-approval in as little as one day, but it usually takes a few days, and in some cases, a week or longer. If you’re required to undergo an income audit or other verifications, be prepared to wait even longer.

The sooner you start the process, the better, don’t hold off otherwise it may cost you your dream home.

How to improve your DTI?

Hey future homeowners! 🏡 Let’s talk DTI—that’s Debt-To-Income ratio for those not in the know. Want to make your mortgage application shine? Lower that DTI! 💫

Pay down those credit cards 🎯
Consider a side gig for extra cash 🤑
Limit new debts—say no to that shiny new car for now 🚗❌
Your debt-to-income (DTI) ratio is a percentage that’s calculated by dividing your total monthly debts by your total monthly gross income and is a metric used by lenders when considering your mortgage. The magic number is 36% or below for most lenders, otherwise, you may end up paying higher interest on your loan or be denied completely.

So, as you can see your DTI is a big deal, and guess what? I’m here to help you navigate those numbers like a pro. DM me and let’s get that ratio looking irresistible! 💪📊