Homestead Application Explained

When you buy a home in Florida, you have until March 1st of the following year to file for homestead exemption. For example, if you bought a home in 2023, you have until March 1, 2024, to file your homestead exemption. What is the homestead exemption?  The Florida homestead exemption is a property tax break […]

Qualifying for a Mortgage with Student Debt

Here at Real Deal Mortgage Solutions, we understand that buying a home is a major milestone in your life, and we also know that for many people, student loan debt is a significant financial burden. However, having student loan debt does not necessarily disqualify you from obtaining a mortgage. In fact, many people with student […]

Difference between Mortgage Broker vs. Bank

When you shop for a home loan with a bank, you’re doing the legwork of figuring out whether that bank is right for you. So chances are, you’ll find yourself setting up a spreadsheet or at least making a list to keep track of rates, fees and other considerations. A mortgage broker serves as an […]

Documentation required for Pre-Approval

One of the most frequent questions we get from our clients and real estate agents at the time of the first appointment is in regards to the documentation required in order for pre-approval.  Pre-Approval letter specifies how much the lender is willing to lend to you, up to a certain amount and based on certain […]

5 % down payment mortgage opportunity for multi-family homes!

Fannie Mae has announced that, starting from the weekend after November 18, 2023, it will accept 5 down payment mortgage opportunity for owner-occupied 2-, 3-, and 4-unit homes. This marks a departure from the previous multifamily financing requirement of 15-25% down payments for duplexes, triplexes, and four-plexes. The maximum loan amount allowed for these 2-4 […]