Fred Bermudez Home Loans

Wanted! Dog Lover -to save little Dolly! She's only 35 lbs. Her owner passed away and she needs a new home. She lived with another dog. She gets along with most dogs but not all. She's very very loving and well manered although she does love to pull on her leash. She's been to training every Saturday for several months and is learning her manners . Who can help? Advise a good home, anything. Please share!! 🙏🏻

My new favorite thing to do this year is read books. This came highly recommend. About to jump in. What are you reading ?

Have you ever wondered at what purchase price could you buy a home while keeping your same
monthly housing budget?
Well, look no further!
This example is credit qualifying and based off a 30-year fixed conventional loan with just 5% down.
(Please note homeowners’ insurance and property taxes will vary per area) yet this is a good ballpark of
what you could expect while keeping the same monthly budget.
What is FASCINATING – is how much net worth is accumulated over 10 years if you were to make that
same payment yet pay it into a home which appreciates vs. out the window as rent!
This is the real cost of renting friends.
If you would like for us to personally run numbers on your exact situation, just send me a message and I
will be happy to help!

Realtor friends… On a scale from 1-10 (10 being the best), how would you rate your last mortgage
transaction?
What would YOUR perfect lender partner do for you?
I am for hire and would love the opportunity to visit to determine if my team could exceed your
expectations.
If you are open to exploring the idea (even if we are just a great back up), then let’s meet!

Lenders require you to buy PMI (Private Mortgage Insurance) if your down payment is less than 20% on
a conventional home loan.
However, the good news is... you can cancel PMI when you have more than 20% equity in the home
(which will reduce your monthly mortgage payment!!)
So why in the world would the lender want any kind of insurance monthly?
Easy - because they are assuming additional risk by accepting a lower down payment that if for some
reason you could not keep making your payments... the bank may have to sell the home and if there is
less than 20% - they have more risk.
The average cost of PMI, for a conventional home loan ranges from 0.55% to 2.25% of the original loan
amount per year, according to Genworth Mortgage Insurance, Ginnie Mae and the Urban Institute.
What most borrowers do not realize is how lenders can also shop around (much like you do for
homeowner's insurance quotes on the actual coverage of the home) in order to find the best "deal."
It is also common to have many clients want to refinance out of a current FHA loan and into a
Conventional loan at the possibility of dropping mortgage insurance once they have reached 20% equity.
If you are open to exploring the idea (even if we are just a great back up), then let’s meet!

How do you really know if a refinance is in YOUR best interest?
One quick and easy method is to calculate how many months it would take to break even (while
analyzing if you plan to stay in the home for that long).
You can do this by dividing the total loan costs by the monthly savings.
Let's say the refinancing fees will total $3,000, and you will save $100 a month. Divide $3,000 by $100.
The answer is 30. That means it will take 30 months to recoup the cost of refinancing. There’s your
break-even point.
Everything beyond that 30-month break-even point will be cost savings.
Woohoo, money in your pocket!

Owning a rental property can generate some extra income, but it can also generate some great tax
deductions.
If you have ever considered using Real Estate as part of your overall wealth building strategy - let me
know!
Not only does this asset appreciate... it can also help provide monthly cashflow!!

Attention REAL ESTATE AGENTS!!
Save this post and have it ready for your next open house!!
This is a great cheat sheet we recommend you share on your own social outlets as too many still believe
you need 20% down to buy a home.

I recently had a client who was denied by 2 other lenders in tears as she believed it was impossible for
her to buy a home.
Thankfully, she took one more shot with my team and we were able to get her approved using a MCC
credit which was just enough to get her the very home she and her girls deserve.
If you have been told NO - PLEASE give my team a chance to review your entire situation before you give
up!!

Not all lenders are created equally nor have access to the same loan programs.
We are here to help!

Wow!
“The safest investment in the world…”
Do you agree?
Are you interested in seeing how much of a home you could qualify for OR what price point would you
need to look at to pay the exact same as your rent payment?
All it takes is an easy conversation that is completely free.
Message me if interested!

One of the biggest misconceptions out there is that you must have 20% down to buy a home!
This is not true!
We have loan programs starting at 0% down (for Veterans or rural areas that you must qualify for) while
also have conventional loan options starting at just 3% down.
If you have ever wondered what it would take to qualify for a home loan (or how long it may take to get
you there), then trust I am here to help guide you HOME!
Please contact me for more details!!

How old were you when you bought your first home?
Did you know the average person rents for 11 years before they buy?
Now, the younger generations are starting to catch on to this and seeking creative ways to start sooner!
I’m curious… at what age do YOU want to become a homeowner? Do you know how you will get there?
Do you have the roadmap?
This is exactly what I do all day everyday and would be honored to help you plan for this!
Message me if interested.

Thinking it might be time to sell your house and move to something smaller?
Maybe a townhouse or condo?
What would be your dream destination?
Here are some things to consider to determine if it is really the right choice for you.

Whether you are new to using credit or looking to improve your existing credit, credit cards are
the most common tool people use to build or rebuild their credit.
In this post, you’ll find some tips on how to use credit tactically to stay out of debt; be sure to
follow these best practices to keep your finances and credit as healthy as you can!

Owning a home comes with so many benefits.
Oftentimes, we focus on the financial benefits of homeownership when buying a home –
and there are plenty!
You’ll build wealth, save money on housing long-term… the list goes on and on.
But what doesn’t get discussed enough are the non-financial benefits of homeownership.
You know, those “American dream,” feel-good things that come along with owning your very
own home – it’s a huge piece of the puzzle.

It is not uncommon for our homeowners to find mistakes on their credit reports (which is why you
should always review your report once a year)!!
If you see mistakes on your report, contact the credit bureau and the company that provided the
information.
Ask both to correct their records. Include as much detail as possible, plus copies of supporting
documents, like payment records or court documents.
This graphic does a great job outlining the process.
If you have any questions, please let me know!

What are the benefits of buying AND renting?
When will you know if now is the right time to buy?
Take a look at this graphic and let me know if you are interested in exploring the next steps towards
homeownership!

Check out these 6 Facts on FHA Loans!
This could be the perfect home loan for you.
If you would like to see how much you qualify for - just message me and I will be happy to help.

Dreaming about buying a home but not sure if you even qualify for a mortgage?
This graphic provides three tips… and here is a 4th… contact me and we can walk you through
every step of the qualification process.
You may be surprised to learn you already qualify for a mortgage… if not, you can find out what
you need to do to qualify and make a plan.
It may only take a few months!!

Our credit tip of the day is something you don’t hear every day.
Before you try to handle your credit issues, speak to us first.
You might end up paying more than you should to fix your credit score.
Hit the like button if this was helpful!

Here are 3 tips to bettering your credit score so you can finance your American Dream!
Hit the like button if this was helpful!

Have you ever wondered why some people have lower interest rates than others?
Check out this easy graphic that reveals some of the many factors that will influence your interest rate.
Save this post if you found it helpful.