Your Local Mortgage Lender
Located in Parkland, Florida
Personalized Mortgage Experience
Brian Faeth offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Parkland, Florida.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Adjustable Rate Mortgages Are Making a Comeback and Here Is Why More Buyers Are Choosing Them Now
Adjustable Rate Mortgages Are Making a Comeback and Here Is Why More Buyers Are Choosing Them Now
The Loan Product That Is Quietly Gaining Ground in the Current Market
Adjustable-rate mortgages are making a comeback and the data shows it. ARMs recently rose to approximately 8.6 percent of all mortgage applications which reflects a meaningful and growing segment of buyers who have done the math and concluded that the ARM is the right tool for their specific situation right now.
Understanding why that is happening and whether it applies to your situation is worth a few minutes of your time.
The Rate Differential That Is Driving the Trend
The average ARM rate has been running noticeably below the 30-year fixed rate recently coming in closer to the high 5 percent range while 30-year fixed rates have been sitting considerably higher. That gap between the ARM starting rate and the fixed rate is the core of why more buyers are choosing ARMs right now.
The monthly payment difference between a loan at a rate in the high 5s versus a rate in the mid to high 6s is real and meaningful on any typical purchase price. On a $400,000 loan that rate differential can translate to $200 or more in monthly savings during the fixed period of the ARM. Over several years that adds up to a significant sum of money that stays in the buyer's budget rather than going to the lender in additional interest.
Who the ARM Strategy Works Best For
As Brian Faeth explains the buyers who are getting the most value from ARM products right now are the ones who are going in fully informed about exactly when and how the rate can adjust and who have a specific plan for what happens before that adjustment occurs.
If you plan to move within five to seven years the fixed period of a 5-year or 7-year ARM may cover your entire ownership timeline. You capture years of lower payments and never experience a rate adjustment because you have sold or refinanced before the fixed period ends. The lower starting rate delivers real monthly savings throughout the period you actually hold the loan.
If you anticipate refinancing when rates improve the ARM gives you a lower payment in the interim period while you wait for the rate environment to shift. Rather than locking in today's higher fixed rate for thirty years you take the lower ARM rate for the near term and position yourself to refinance into a fixed rate when the market offers better conditions.
If you are planning to make significant principal reductions during the fixed period reducing the outstanding balance decreases the impact of any future rate adjustment on your monthly payment making the ARM more manageable even if you end up holding it through the adjustment.
What Going in Fully Informed Actually Means
The key phrase Brian Faeth emphasizes is going in fully informed. An ARM that is chosen because it produces the lowest payment today without a clear understanding of when the rate adjusts and what the realistic future payment scenarios look like is a different and more risky decision than an ARM chosen with complete information and a specific plan.
Know your adjustment date. Know the caps that limit how much your rate can increase at each adjustment and over the life of the loan. Know what your payment looks like at the first adjustment under current market conditions and what it could look like in a worst-case scenario under the applicable caps. That complete picture is what allows you to evaluate whether the ARM is genuinely the right fit for your situation or whether the lower payment is creating a false sense of affordability.
Used the right way with full information and a clear plan an ARM is a powerful path to a more comfortable payment today in a rate environment where every basis point of savings matters.
Brian Faeth works with buyers to evaluate ARM versus fixed-rate options with complete transparency about the numbers and realistic scenarios so that the loan chosen is genuinely the right fit for each buyer's goals and timeline. Follow along for more loan tips and solutions for the current market and reach out to Brian Faeth to find out whether an ARM makes sense for your specific situation right now.
Sources
MortgageNewsDaily.com
FannieMae.com
ConsumerFinancialProtectionBureau.gov
Investopedia.com
BankRate.com
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