Home Loans | Mortgage Company | Bradenton, FL

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    YOUR LOCAL BRADENTON MORTGAGE COMPANY – EXPERIENCED PROFESSIONALS READY TO GET YOUR MORTGAGE APPROVED!

We are excited and proud to be Bradenton’s local home loan mortgage lender offering home loan to the customers in our community and assisting them with getting a residential mortgage loan to buy a home or refinance.  Our professional loan officers and staff take real pleasure in helping our customers with the very important process of getting a mortgage home loan to buy their home. Our mortgage company offices are conveniently located in Bradenton, Florida.

Though our vast network of lenders, we are able to match our customers with the right loan at the lowest interest rate available for the home loan that meets our customer’s particular needs and fits their individual situation.  We are  confident that you will find that our loan officers will provide you with prompt, helpful, courteous and kind assistance throughout the process to make it as stress and worry free as possible.  Because we have access to a large number of lenders not just one, we are able to provide our customers with no only the same loan programs and low interest rates that the national big retail banks and lenders offer, but we offer even more – we also offer loan programs up to 100% financing and can make home buying possible for customers with lower credit scores than the big banks require!

If you are in the market to buy a home or if you would like to explore your options to refinance your current mortgage, please give us a call at 941-795-7525 and one of our loan officers local to the Bradenton, Florida area will be sure to give you the best customer service experience possible.  You can trust that you will be in good hands with our experienced, professional mortgage loan officers.

We are standing by ready to do what we do best – help people like you get a great deal on their home loan!

Thank you!

Michael D. Wyckoff
Pioneer Mortgage Funding
941-795-7525
4909 Manatee Ave W
Bradenton, FL 34209

Home Loans in Bradenton, FL | Your Mortgage Company in Bradenton, FL

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BUY YOUR DREAM HOME WITH ONLY 1% DOWN

Hello again everyone! I realize that I wrote an article about this very appealing residential home loan about a year ago, however, it is so good that I felt I had to get the word out again just in case people may have missed it the first time!

In short, a borrower can buy a home with a down payment in the amount of only 1% of the purchase price of the home! This is to say, if you are buying a home for $200,000 and you have cash saved in the amount of $2,000 (1% of the $200,000 purchase price), then you can obtain a mortgage loan for the amount of the balance of $198,000 to purchase the home!  Essentially, for about one month’s rent, you would have enough down payment to to buy a $200,000 home.

HOW IT WORKS – This is a home loan that requires a total of 3% of the amount of the purchase price as a down payment.  Of the 3% total down payment required, the borrower puts 1% down and the lender contributes 2% down which totals the 3% required for the buyer to get the loan to buy the home.  And as if that is not enough good news, this home loan product is offered by the #1 wholesale mortgage lender in the nation. This particular residential mortgage lender offers a convenient, hassle-free loan application process, a fast closing process and, best of all, low interest rates.

In addition, because we are local mortgage loan officers, local to the Bradenton, Sarasota, Florida area, you will have peace of mind knowing you are working face-to-face, in person, with real, live professionals in your community rather than just a voice on a phone from who knows where in the world!

We pride ourselves on giving you the personalized, professional attention you deserve!  If this home loan sounds interesting to you and you would like to learn more about it, please call us today at 941-795-7525.  If we happen to be with a customer and you get our voicemail, please leave a message and we will call you back as soon as we can!

We look forward to assisting you,

Michael D. Wyckoff
Director of Mortgage Operations
Pioneer Mortgage Funding
941-795-7525

PIONEER MORTGAGE FUNDING  IS YOUR LOCAL SOURCE FOR LOW INTEREST RATE HOME LOANS IN BRADENTON, FL

WE ARE YOUR LOCAL MORTGAGE COMPANY IN BRADENTON, FL

Offering residential mortgage loans in Bradenton, FL and surrounding areas

 

NEED A HOME LOAN? | LOW RATES | NO ORIGINATION FEES

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MORTGAGE HOME LOANS – LOW INTEREST RATES – NO ORIGINATION FEES – PERSONALIZED SERVICE

Need a home loan? We offer fast response times, low interest rates, no origination fees and personalized service from local mortgage professionals.  If you are purchasing real estate in Bradenton, Florida, Sarasota, Florida, or their beach communities and barrier islands, we welcome the opportunity to assist you to get you prequalified and  preapproved for a mortgage home loan to buy your dream home.  Yes, it is true that interest rates on mortgage home loans have increased over the last month or so, however, 30 year fixed  interest rates on home loans are still very low and very attractive from a historical perspective.  Although as far as I know none of us are equipped with a crystal ball, most experts in the field forecast that interest rates will continue to increase for the rest of the year which may be all the more reason for you to get preapproved for a home loan and start looking for a suitable home to purchase sooner rather than later.  With qualifying credit, we offer a free preapproval process (All you pay is a nominal amount for your credit report).

Home Loans Bradenton and Sarasota, Florida

We love our new home that Pioneer Mortgage helped us get our home loan to purchase!

If you have limited cash to put down on your purchase, there are loan programs available for you that require less down payment!  In addition, there are also ways that we can share with you to structure the sale and purchase contract so that you will need to come up with less cash at closing to purchase your home. Let us put our combined experience of over 25 years to work for you!

Great service and low interest rates are only a phone call away, so please feel to call us today at 941-795-7525, and ask for Michael or Bobby.

We look forward to the opportunity to assist you.

Michael D. Wyckoff

Director of Mortgage Operations
Bradenton, Florida & Sarasota, Florida
941-795-7525

Reverse Mortgage Requirements | Sarasota Reverse Mortgage

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Sarasota Reverse Mortgages

Reverse Mortgage Requirements

Hello Sarasota residents! This is another article in a series of articles that I have written and that I hope you find informative about Sarasota reverse mortgages. I have decided to write on this topic due to the substantial increase in home values in the Sarasota area. Rising home values in the Sarasota area is great news in general for homeowners in the Sarasota area. In particular, rising home values make a reverse mortgage in Sarasota more attractive!  I think rising home values is particularly worth noting for Sarasota homeowners who have been thinking about getting a reverse mortgage.  Recent surges in home values is important because a reverse mortgage loan amount is based upon a percentage of the value of your home. In other words, if your home is worth more, you can get a higher loan amount under a reverse mortgage.

Many of you my not be certain what the requirements are to obtain a reverse mortgage. Sarasota reverse mortgage requirements are quite simple. So simple, in fact, that many people can’t believe that there aren’t more reverse mortgage requirements.  I will list the requirements of a FHA HECM (Home Equity Conversion Mortgage) because this is the most widely used Sarasota reverse mortgage program The requirements to qualify for a reverse mortgage (FHA HECM) are as follows:

1.  You must be a homeowner 62 years of age or older.
2.  You must own the home outright (no mortgages) or have an outstanding mortgage loan balance low enough that it can be paid off with the proceeds of a reverse mortgage loan.
3.  You must have the financial resources/ability to pay ongoing property expenses such as annual real estate taxes and homeowners insurance.
4.  You must live in the home.
5.  You must receive consumer information about reverse mortgages from a HECM counselor prior to obtaining the loan.

That is it!

So, if you have been considering getting a reverse mortgage loan, now may be the time to do it. I am happy to answer any questions you may have about getting a reverse mortgage.  l am happy to use my experience to help guide you through the reverse mortgage process. All you have to do is pick up the phone and give me call – (941) 795-7525. If I am unable to answer, please leave a message and I will call you back as soon as I am able.

I look forward to helping you with this exciting opportunity. Thank you for reading this article and enjoy the rest of your day in lovely Sarasota!

Michael Wyckoff
Operations Director – Sarasota & Manatee
(941) 795-7525

Reverse Mortgage Sarasota | Bradenton | Reverse Mortgage Pros and Cons

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Reverse Mortgage Pros and Cons

Hello again knowledge seekers. To try to help my readers in the Sarasota and Bradenton areas better understand the ins and outs of reverse mortgages, I will describe in this article some of the benefits of availing yourself of a reverse mortgage and some of the things to consider in determining whether a reverse mortgage is right for you. I think a good way to do this is to list and explain some of the pros and some of the cons of a reverse mortgage.

Reverse Mortgage Pros:

1.  The lender pays you for the equity in your home. Rather than make a monthly payment to the lender as is the case with a typical traditional mortgage, with a reverse mortgage the lender pays you. In general, you have the option of being paid out of the equity (value) in your home taking of taking a lump sum (usually in 2 phases) or getting a line of credit or a combination of the two.

2.  You stay in the home without making any payments.

3.  It can be used to pay of an existing mortgage. You can pay off an existing mortgage that does require you to make monthly payments.

4.  You are not personally liable to repay the loan. This is a great benefit. The lender only has right against the home, not you personally. As a result, they are only permitted to recover repayment under the reverse mortgage up to/limited to the value of the home. This is true even if the balance due under the mortgage loan greatly exceeds the value of the home at the time the loan must be paid off.

5.  Your heirs may inherit the home after they pay off the balance owed under the reverse mortgage loan.

6.  You do not need to have a good credit score. This is another great benefit. You may qualify for a reverse mortgage regardless of your credit score.

 

Reverse Mortgage Cons:

1.  The amount due under your reverse mortgage increases over time. Unlike a traditional mortgage under which your monthly payments go toward reducing the amount you owe, under a reverse mortgage, the balance due under your loan goes up over time as interest accrues.

2.  The fees associated with a reverse mortgage are typically higher than those of a traditional mortgage loan. The good news is that the fees can be deducted from amount of the loan. They do not have to be paid by you out-of-pocket.

3.  Many people simply do not understand reverse mortgages. I hope this article and other articles I have written on my website will help you understand reverse mortgages. They are unique “animals” so please do not feel embarrassed if you are confused and don’t completely understand them. I invite you to give me a call anytime so that I can do my best to help you understand them more fully.

Michael Wyckoff
(941) 795-7525

What Is A Reverse Mortgage | Reverse Mortgage Sarasota | Bradenton

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What Is A Reverse Mortgage?

If you are like most people, you have probably heard of a reverse mortgage but you are not quite sure what it is or how it works. In this article, I will describe what a reverse mortgage is and try to help you understand how it works.

Simply said, a reverse mortgage is a mortgage loan product available to homeowners who are 62 or older and have equity in their home. The homeowner/borrower gives the lender a lien against their property and the lender pays the homeowner/borrower money to do so. In its most common form, the borrower can take out a lump sum, receive monthly payments or get a line of credit or a combination of monthly payments and a line of credit.

How Does a Reverse Mortgage Work?

The way a reverse mortgage works may be best described by comparing it to how a regular mortgage works. In a regular mortgage, the homeowner/borrower makes payments to the lender over time to pay down the amount borrowed. Each month, a portion of the mortgage payments goes toward paying interest on the loan and part of the payment goes to pay down the principal amount owed on the loan.

In a reverse mortgage, the lender pays the homeowner/borrower. As a general rule, the borrower does not have to pay back the monies he or she has received so long as he or she lives in the home. At the time the borrower dies, moves out or sells the home, the monies advanced by the lender must be repaid. This can generally be done by selling the home. Most reverse mortgages, however, are non-recourse – this means that the homeowner is not personally liable to repay the loan. This also means that the borrower cannot owe more than the value of the home when the loan becomes due. For example, if the heirs want to keep the home rather than sell it, they would not have to pay more than the appraised value of the home at the time the loan becomes due – even if the amount owed on the loan is substantially higher than the value of the home at the time.

Michael Wyckoff

Operations Director – Mortgages Sarasota Area | Mortgages Bradenton Area
(941) 795-7525

Mortgage company providing reverse mortgage in Sarasota, reverse mortgages in Bradenton and the surrounding areas.

Lowest Mortgage Rates | Mortgage Company | Sarasota | Bradenton

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Mortgage Rates Are Near All-Time Lows Again!

Remarkably, about 3 years after mortgage rates hit historical lows, they have fallen again to near historical lows! I find this unbelievable! Fortunately for those of you in the market to get a mortgage to buy a home or to refiance your current home loan, this news is unbelievably good!

There are many options available depending on your plans for the future. Mortgage rates on 7 year adjustable rate mortgages are incredibly low, mortgage rates on 30 year fixed rate loans are so low it will bring a huge smile to your face and mortgage rates on 15 year fixed rate mortgages are so low you will feel like skipping down the sidewalk!

Let us use our years and years of experience to help you choose the best mortgage for you. But don’t wait too long, mortgage rates will not stay this low for very long. When they reached historical lows about 3 years ago, they went up from those lows very quickly. They will go up again – it is not a matter of if, but when. Be one of the smart ones who brags to your friends and family for years, maybe even decades, about how low your mortgage rate is on your home.

Thank you for reading this article. We hope you found it helpful and informative. We appreciate the opportunity to be your go-to local mortgage company in the Sarasota and Bradenton areas.

Michael Wyckoff
Operations Director – Sarasota/Bradenton Area
Pioneer Mortgage Funding
(941) 795-7525

Mortgage Company serving Sarasota FL, Bradenton FL and the surrounding areas

Refinance to a 15 Year Mortgage Rate | Sarasota FL | Bradenton FL

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Refinance to a 15 Year Mortgage Rate

IT MAY MAKE A LOT OF SENSE TO REFINANCE YOUR MORTGAGE FROM A 30 YEAR FIXED TO A 15 YEAR FIXED

Refinance to a 15 year mortgage rate to pay off the mortgage on your house much earlier and to save yourself a lot of money in Sarasota FL and Bradenton FL!

Well, I am sure you have heard by now that mortgage rates have risen substantially over the past few months. If you missed mortgage rates when they were at their low, it may still make sense for you to refinance. Currently, many lenders are advertising interest rates on a 15 year fixed rate home loan that are nearly one (1) percent lower than the rate on a 30 year fixed rate home loan. As a result, the monthly payment on a 15 year home loan can be around the same amount as the payment on your current 30 year fixed interest rate mortgage loan. For example, on a $100,000 loan amount at an interest rate of 6.25% amortized over 30 years, the principal and interest payment is $615.72. That same loan payment on a 15 year fixed rate mortgage at a 3.5% interest rate is $714.88. That is less than $100 more and your mortgage is paid off in one-half the time – in 15 years rather than in 30 years! That can be a savings of up to around $93,000 over the life of the loan!

So, do not beat yourself up over having missed out on your chance to refinance your home mortgage loan when interest rates were at their lowest. You can still refinance your home loan from a 30 year fixed to a 15 year fixed to pay off your home mortgage much earlier and save yourself a lot of money!

Disclaimer:  This article is for general informational purposes only and is not intended to serve as/be financial advice.