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PODCAST

Buying Florida

Didier Malagies

Didier Malagies is a leader in the Tampa Bay Mortgage industry, serving Pinellas, Pasco, Hillsborough counties, and beyond with his sights set on educating residential and commercial buyers regarding Florida purchases. With over 20 years of expertise, Didier has built relationships with realtors, bankers, and clients based on integrity and his drive to provide the best customer experience in the state by being there from beginning to end of every purchase.Whether you"re looking to move, invest,

business investing

All Episodes

2:51

WE can close your loan in December

Buying Florida ·

2024/11/28

We can close your loan in December, we need just a min of 2 weeks and we all work togetherloan application takenappraisal ordereddocuments uploaded,title work orderedinsurance chosenWe can make it happen based on teamwork and working togetherOur process is stream-line to where we move on all cylinders and concentrate on meeting all closing datesTechnology has made that possible and for us to steer the ship to the finish linetune in and learn at https://www.ddamortgage.com/blogdidier malagies ...

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4:24

what happens with lower appraised values on FHA,...

Buying Florida ·

2024/11/21

When a property appraisal comes in lower than the agreed-upon purchase price, it can complicate financing for the buyer. Here's what typically happens for FHA, Conventional, and VA mortgages:1. FHA MortgagesImpact of a Low Appraisal: The loan amount is limited to the lower of the purchase price or the appraised value. A low appraisal means the buyer must:Renegotiate the purchase price with the seller.Pay the difference in cash.Walk away if the contract allows it.Required Repairs: FHA appraisa...

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3:51

Small Business Emergency Bridge Loan

Buying Florida ·

2024/11/14

The Florida Small Business Emergency Bridge Loan Program is a state-funded short-term loan program that provides immediate, temporary assistance to small businesses impacted by a disaster, such as hurricanes, floods, or other emergencies. Administered by the Florida Department of Economic Opportunity (DEO), the program is designed to "bridge the gap" by offering quick financial relief to small businesses until longer-term resources, such as insurance claims or federal disaster assistance, are...

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3:57

1% down to purchase a home with the lender giving you...

Buying Florida ·

2024/11/07

Lender's 1% Down Payment program is designed to make homeownership more accessible for eligible first-time buyers by lowering the upfront costs typically required for a mortgage. Here's a breakdown of how the program generally works:How It Works1% Down from the Borrower: The borrower contributes just 1% of the home purchase price as a down payment.2% Contribution from Lender: Lender covers an additional 2% of the down payment, allowing the borrower to start with a total of 3% equity in the ho...

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4:26

No money down on a home if your present home has been...

Buying Florida ·

2024/10/31

The FHA 203(h) program is a Federal Housing Administration (FHA) loan specifically designed to help people affected by natural disasters, like hurricanes, purchase or rebuild a home. It provides an accessible way for victims of federally declared disaster areas to find stable housing quickly by offering favorable terms compared to traditional mortgages. Here’s a breakdown of how it works and its benefits:Key Features of the FHA 203(h) LoanEligibility Requirements:You must be a homeowner or re...

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4:09

Now able to provide second mortgages on investment...

Buying Florida ·

2024/10/24

A second mortgage for an investment property is a loan taken against the equity in a property you already own, specifically one that is not your primary residence. It allows you to tap into the equity of the investment property to finance other expenses, like renovations, additional property purchases, or paying off higher-interest debt. Here are key points to consider:1. Understanding Second MortgagesDefinition: A second mortgage is a loan that uses the equity in a property as collateral. It...

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3:59

What steps need to be taken after a hurricane in...

Buying Florida ·

2024/10/17

After a hurricane, the process of closing on a mortgage may be impacted due to potential damage to the property or delays caused by the storm's aftermath. Here are the next steps to take:1. Assess Property DamageInspect the Property: The first step is to assess if the property sustained any damage during the hurricane. This can be done by the buyer, seller, or a licensed inspector. Some lenders may require a re-inspection before closing.Appraisal Updates: If there is significant damage, the l...

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1:55

Why are interest rates going up

Buying Florida ·

2024/10/10

The Federal Reserve influences interest rates in the economy, but its actions may not always align with the actual rates individuals or businesses experience in the market. Even if the Fed cuts its benchmark interest rates, other factors can cause rates, such as mortgage rates or bond yields, to rise. Here are some key reasons why rates might go up despite Fed rate cuts:1. Inflation Concerns:If inflation expectations are rising, lenders demand higher interest rates to compensate for the loss ...

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2:41

Purchase flood insurance even if you are not in a...

Buying Florida ·

2024/10/03

Purchasing flood insurance, even if you're not in a designated flood zone, can be a wise decision for several reasons:1. Floods Can Happen AnywhereFloods are not confined to high-risk zones. In fact, more than 20% of flood insurance claims come from properties outside of high-risk flood zones. Severe storms, hurricanes, or even rapid snowmelt can lead to flooding in areas considered low or moderate risk.2. Climate Change and UnpredictabilityClimate change is making weather patterns more unpre...

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4:05

Fed cut rates, what happened?

Buying Florida ·

2024/09/26

When the Federal Reserve (Fed) cuts interest rates, it is usually intended to stimulate economic activity. Here's what typically happens when the Fed lowers its benchmark interest rate:1. Lower Borrowing CostsFor Consumers: Lower rates make borrowing cheaper for consumers, particularly for loans such as mortgages, car loans, and credit cards. This often leads to increased spending and investment by consumers, which can boost economic growth.For Businesses: Companies can borrow at lower rates ...

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3:12

What is up with Interest Rates?

Buying Florida ·

2024/09/19

Following the 10-year treasury yield, it has gone from 4.9 down to 3.64, the market is ahead of the Fed in anticipating a rate cut this month, so the drop in rates has already been baked in. When the Fed drops it will be a .25 or a .5 and the market will react to that drop in a positive or possibly a negative way.Is it time to refinance your home? That is a great question, are you going to consolidate debt, cash out, or do a rate-term refinance. It is really a phone call to see where you are ...

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3:25

Pros and Cons of an FHA Mortgage

Buying Florida ·

2024/09/12

An FHA (Federal Housing Administration) mortgage is a popular home loan option, especially for first-time homebuyers or those with limited down payment funds or less-than-perfect credit. Below are the pros and cons of an FHA mortgage:Pros of an FHA Mortgage:Lower Down Payment:FHA loans typically require as little as a 3.5% down payment, making homeownership more accessible for buyers who may not have substantial savings.Flexible Credit Requirements:Borrowers with credit scores as low as 500–5...

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3:29

2/1 buydown where the lender pays the difference in...

Buying Florida ·

2024/09/05

First-time Homebuyers are able to purchase a home with a 2/1 Buydown at the wholesale lender's expense. If you purchase a home and the interest rate is say 6.375%, the 2/1 buydown allows you to pay 4.375% for the first year, then 5.375% the second year, and then 6.375% for the remainder of the loanNormally the seller would pay the interest difference for year 1 and year 2, now the Wholesale lender will pay that expense so it is not a negotiating feature for you on the purchase of the home. It...

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3:19

Now offering Helocs on Primary, Secondary, and...

Buying Florida ·

2024/08/29

I have Helocs on primary, secondary, and now Investment properties.How exciting to tap into the equity on your investment property without having to refinance the first if you have that nice low interest rate.If you have a low interest rate, do the Heloc and see if the blended rate is lower than refinancing the first. The time will come when you can refinance both of them when the rates really do come down in the future.Thought it was pretty exciting to now have this product available to youL...

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3:32

What happens after the rates come down

Buying Florida ·

2024/08/22

We know when the interest rates drop the following will happen1. refinancing to a lower rate2. consolidating debt into one lower payment3. First-time home buyers will be coming out to buy4. There will be downsizing of homes with the lower rates5. There will be upsizing on homes with the lower rates18 to 29-year-olds still living at home will be buying. With all that great news that also means there will be a lot more printing of money which will cause everything to go up in price, Things will...

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4:58

When do you think Interest rates will really come down?

Buying Florida ·

2024/08/15

The Government is printing 1 trillion every 100 days, we are over 35 trillion in debt today, and we are spending 1/3 of the debt is interest payments of total revenue coming in, next year it will have 1/2.so I feel the probability of rates coming down is great at some point down the road.You can see the 10-year has come down from 5% to 3.81%, which is significant and the market is telling you that something isn't rightWe have over 1.2 trillion in credit card debt, the time will come when refi...

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5:54

different ways of paying off your mortgage sooner

Buying Florida ·

2024/08/08

Paying off your mortgage earlier can save you money on interest and give you financial freedom sooner. Here are some strategies to help you achieve this goal:1. Make Extra PaymentsBiweekly Payments: Instead of making one monthly payment, make half of your mortgage payment every two weeks. This results in 26 half-payments or 13 full payments each year, effectively making an extra payment annually.Extra Monthly Payments: Add extra money to your monthly mortgage payment. Even a small amount can ...

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4:28

You are not in a flood zone, not a bad idea to get...

Buying Florida ·

2024/08/08

Whether to get flood insurance outside of a designated flood zone depends on various factors, including your location, property value, risk tolerance, and financial situation. Here are some points to consider:Flood Risk Outside of Flood Zones: Even if you're not in a high-risk flood zone, flooding can still occur due to factors like heavy rainfall, clogged storm drains, or infrastructure failures. FEMA reports that over 20% of flood insurance claims come from properties outside of high-risk a...

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3:35

Is it accurate the credit scores you are pulling

Buying Florida ·

2024/07/25

Why is it that when you pull your credit scores it is usually not the same as when you have one pulled for a mortgage?Credit Karma is a great source but the scores are usually not spot on the value is that when you make payments or make changes the scores will change and a great tool to monitor the scores. Also, when you look at Discover or what you have with your bank again not the same as when pulling for a mortgage. The great news is that you have an idea of where your scores are and can w...

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3:39

Portability and homestead and what you need to know

Buying Florida ·

2024/07/18

The concepts of real estate portability and homestead are key aspects of property tax laws in some jurisdictions, notably in states like Florida. Here's an overview of each:Real Estate PortabilityReal estate portability, particularly in the context of Florida, refers to the ability of homeowners to transfer some or all of their accrued property tax benefits from one home to another within the state. This concept is part of Florida's Save Our Homes (SOH) benefit.Key Points:Save Our Homes Cap: ...

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