Randall Schrader's (superbroker007) Blog

The FHA (Federal Housing Administration) has programs to help first time home buyers with little credit history and very little money down.  Without much credit history, we can obtain letters of credit from the cell phone company, car insurance company or any other non-traditional source of solid...

The Federal Housing Administration (FHA) has programs to help first time home buyers with little credit history and very little money down.  Without much credit history, we can obtain letters of credit from the cell phone company, car insurance company or any other non-traditional source of solid...

HECMs or reverse mortgages use the equity in the home to actually pay the senior every month.  The money can also be received in a lump sum or as a line of credit. The money received is not repaid until the home is sold or the seniors leave the home, at which point the proceeds from selling the h...

Reverse mortgages use the equity in the home to actually pay the senior every month.  The money can also be received in a lump sum or as a line of credit. The money received is not repaid until the home is sold or the seniors leave the home, at which point the proceeds from selling the home pay o...

FHA loans only require 3% of the purchase price down.  The good news is, that the seller can contribute 6% of the purchase toward the buyer's closing cost.  This generally works out to a very lucrative option to the buyer.  If you are looking for an expert on FHA loans in Florida, I can help.    ...

Seniors can now get approved for a reverse mortgage where the equity in their home actually pays them every month.  The money can also be received in a lump sum or as a line of credit. The money received is not repaid until the home is sold or the seniors leave the home, at which point the procee...

All of the following scenarios are acceptable under FHA guidelines; - Reverse mortgages for seniors - No credit score or a ghost credit score -  single and double wide mobile homes - 540 credit score - Very little money down - Homes needing major repairs - Duplexes - Major remodeling, cash out re...

Welcome to mobile home lending made easy! If the mobile home, (single wide or double wide) was built after June of 1976, there are tons of lenders lining up to fund a FHA or VA loan.  These loans require very little down (3%) too.  If the home is older than June, 1976, things get a bit trickier, ...

A Reverse Mortgage is the answer.  Seniors over the age of 62 can access the equity in their home's with a government insured Home Equity Line of Credit via a Reverse Mortgage.  This is a great tool and it's called reverse because instead of paying the bank monthly, the bank sends the senior a ch...

Mobile or Manufactured homes are a bit more difficult to finance than a block home.  Our DMVis involved, the year of the home has a LOT to do with it's structural integrity.  The foundation systems are intricate and may need updating or repairs to be safer.  Some mobile homes are set up on rented...