Buying a home is a dream-come-true. You imagine it in glowing colors: to search for and purchase your new home, or to refinance your existing mortgage to take advantage of low rates and save yourself some money. It is, after all, the praised American dream.
Yet, the process of buying or even refinancing a home can leave you feeling dizzy, exhausted and all twisted up inside. One minute the buyer is in control using a stalled market to lure sellers down to their price, the next minute competing buyers are overbidding and scrambling to get an offer in before another one is accepted. You just don’t know whom to trust, or which way to turn for honest advice that is right for you.
The real estate roller-coaster can chew you up and spit you out. Add to this the notorious instability of financial market sand ever-changing mortgage rules and regulations, it’s no wonder most consumers are nauseated and confused and many prefer to stay on the sidelines.
Despite this daze, there are real reasons for consumers to feel hopeful again.
The Sun Sentinel reports that Florida is the housing market to watch in 2015.
Herald Tribune.com adds that Florida’s economy is getting a boost from a national housing and financial markets which are allowing people to move to the state. This in turn is also sparking new housing construction according to a forecast from University of Central Florida economist Sean Smith.
The HomeBuyingInstitute.com recently published predictions that “home prices will continue to rise in most US cities” and “investors are backing off as prices even out, leaving more room for ‘regular’ buyers.” That means you!
But don’t, just yet, get too cozy with visions of sugarplum deals and bargain basement jumbo mortgage rates.
The Qualified Mortgage (QM) rule mandated by the Dodd-Frank Act, and finalized by the Consumer Financial Protection Bureau in January 2013 and took effect on January 10, 2014.
And that, once again, will change everything.
Steve Avrus, 32-year president and owner of AVRUS Financial and Mortgage Services, Inc. sums up the issues as follows: “The rules of the game are ever-changing and most buyers just don’t have the time to keep up. They have other priorities. They want to be spending time with their families and friends, and living a good life. Staying up-to-date on the frequent swings of market sentiment and the rules of the game are just not what moms and dads, grandparents and focused professionals want to worry about.”
For close to four decades, AVRUS has been a top rated mortgage and financial broker and serves 226 counties in Florida, & Georgia with residential and commercial loans.
As of 2015, AVRUS has closed almost one billion dollars in mortgages.
More importantly, AVRUS, a top-rate broker in the country, is a solid company who’s “Customer for Life” approach has kept it tried-and-true through the revolving doors of the constant changings of the guard.
When many mortgage brokers went belly-up in the sub-prime fiasco because they had been busy selling the latest bag of bad ideas, AVRUS prevailed and remains a market leader, dedicated to serving its clients. When the real estate market went into reverse, AVRUS continued to help its clients succeed.
Steve Avrus explains: “Most brokers are just pigeonholing. They just aren’t looking at the whole picture with their clients. Often there is little or no personal service or attention to the client’s individual needs, and each applicant is expected to conform to the template. Brokers try to attract customers with bait-and-switch promises of the absolute lowest rate out there, but by the time the loan closes – if it does at all - it often looks quite different than in the initial conversation.”
In contrast, AVRUS assesses the borrower’s complete financial situation at the outset, in order to find a product that is right for the individual client AND that they will actually qualify for. Applying is easy. What matters most is that the loan transaction actually closes.
Despite the encouraging news from the housing market, with today’s new rules of the game, the AVRUS approach is more relevant than ever.
In the foreseeable future mortgage rates are expected to rise to the mid 5% range. Although, Bloomberg.com confirms that mortgage costs remain historically low, this expected increase, along with the new 43% debt-to-income ratio limitation, will make qualifying for a mortgage more difficult. But Steve Avrus, isn’t worried. He says, for many, careful financial planning is the key to a successful closing.
And now the time has come when you too can experience the difference. The market is finally stabilizing.
This is good news to many! And Steve Avrus assures us that if you are well informed and work with highly-qualified and experienced financial professionals you can indeed, set yourself up to win.
