Debbie Cooley has been a mortgage broker in Florida since 1984.
What that relates to is surviving many different markets. I am dedicated to helping people find the right product for them, even if it means I don’t get the business, and recommend they go to a credit union or a bank. I will always do what is best for the client. I am also very active in my industry group, the Florida Association of mortgage professionals. I have served as 3-time past President of the Gulf Coast Chapter and am now serving as Education Chair on a state committee.
Here at Debbie Cooley Mortgage, we know that there are many elements that you as a borrower need to consider when contemplating buying a home. One of the important decisions you must make is what kind of mortgage would be right for you and your situation. Things like the term of the mortgage, interest rate, and required qualifications can be confusing. Here at Debbie Cooley Mortgage, we focus on customer services which simply means we are here to get you answers to your questions and to help you find the lender that best meets your needs and goals.
You might not be familiar with terms like FHA, VA, and Conventional mortgage. Debbie Cooley understands that the decisions surrounding a home purchase are some of the most important financial decisions you will have to make. For most people, a home purchase is the largest investment they will ever make. If you don’t want to be treated like a number and you want personalized attention contact Debbie Cooley Mortgage today.
First-Time Home Buyer Mortgage Programs
If you’re a first-time home buyer, an FHA loan can help lower your down payment and get you into the house of your dreams. The FHA has low down payment requirements, which can make the process of buying a home much easier to manage.
The FHA also offers several other benefits for first-time home buyers:
Flexible underwriting guidelines allow for a wide range of credit scores and debt-to-income ratios. This allows more potential borrowers to qualify for an FHA-insured mortgage.
Low credit score requirements mean that many borrowers who were previously denied by conventional lenders can qualify for an FHA-insured mortgage.
A wide range of allowable income sources lets borrowers use non-traditional income sources such as alimony or child support in their qualifying ratios.
When comparing which loan to use FHA or conventional you will need to consider the following:
A credit score is big if your score is 640 – 680 an FHA is going to work best your mortgage insurance payment will be lower and your down payment will be lower.
There are conventional First-time home buyer programs but most have income limits mortgage insurance is higher. Call for a quote if this is your first home. A first-time home buyer is someone that has not owned a home as their primary home in the past 3 years.
VA Loans
If you have served in any branch of the military retired or active a VA loan could be right for you.
This will also depend on whether this is your first-time use of your VA benefit or 2nd or 3rd time.
If you are collecting any type of disability, you could be waived the funding fee. The VA does not charge mortgage insurance but does charge a funding fee which can be expensive from 2.50% of your loan amount up to 3.30% of your loan amount.
Reverse Mortgages
Debbie Cooley Mortgage offers reverse mortgages. This loan is for people 62 years of age or higher. The best part about a reverse mortgage is no payments are made. There is no prepayment penalty. The loan does not need to be paid back unless you want to sell your home, or you pass away.
As we said earlier, there is a lot to know and understand when considering purchasing a home. Doesn’t make sense to deal with a company that has access to many lenders to compete for your loan? If you want to deal with a mortgage broker with integrity and the highest level of commitment to meeting her client’s expectations and needs when financing a home look no further, Debbie Cooley Mortgage is here to serve you, call today and the process started.