FAQs

About Us

Can you give me directions to the office?

Our address is 12514 W. Atlantic Blvd. Coral Springs, FL 33071. We are right off the Sawgrass Expressway and Atlantic Blvd. Our office complex backs up the expressway. Take the Sawgrass Expressway and get off Atlantic Blvd, go east one block and make a right (go south) on Lakeview Dr,  immediately entering the Lakeview Plaza. Follow the road to the back of the plaza and look for 12514 as soon as the road curves around the second time.

How long have you been in business?

Bluecastle Lending LLC as a mortgage company has opened its doors to the general public on February 15th, 2016. The talent inside the office has over 50 years of combined industry experience.

What are your business hours?

Monday through Thursdays 9:00 am until 6:00 pm, and Fridays until 5:00 pm. We are closed on the weekends.

Where are you located at?

We are located at 12514 W. Atlantic Blvd Coral Springs, FL 33071. Our office phone is 954-866-0000 and you can also email us at info@bluecastlelending.com

CCAP

Can you give me a real life case scenario example?

We recently had a closing with a client named Veronica. She had a 589 credit score when we first saw her. We improved her credit to a 657 – 68 points in 60 days. She bought a house for $357,500.00 and all the funds she  used to purchase the property (total cash out of pocket for down payment, closing costs, insurance, etc) was  $15,861.00. Her rate was the same as published by major banks like Bank of America and Wells Fargo for the  day we locked the loan.

Do I have to be a first time home buyer to qualify?

No, you could have owned before and even now however, CCAP is for primary residences only.

Do I have to buy in a specific city or county for this program?

No. You can buy anywhere in the state of Florida.

Do I have to pay back any ender contribution given?

No. This is a lender contribution. You do not have to pay it back.

How do I know this is a legitimate company or program (CCAP)?

Bluecastle Lending is licensed through the National Mortgage Licensing System NMLS number 1463069. It’s  owner, Alex Baglioni is a licensed mortgage loan originator NMLS license 1405103. Please visit the NMLS Consumer Access website and search either Bluecastle, Alex or both.  Bluecastle Lending has  professionals with 38 years of combined experience in the field.

Is there any income ceiling requirements?

No. Unlike other grants, the contribution does not depend on how much or how less you make. There are no income ceilings.

Is there any restrictions to sell the property?

No. Unlike other programs, you can sell tomorrow without having to pay a cent back.

Until when is the program going to be offered?

Generally the average home buyer in Florida takes 6.7 years to save 3.5% for the down payment; so it would be wise to take advantage while the program is still being offered. The program is ongoing.

What are the requirements to qualify?

If you qualify for an FHA or VA loan, you qualify for CCAP.

Where do the funds come from?

From private funds. Mainly from Bluecastle Lending compensation that is shared with the client, while getting help from other companies that share our vision, like title and property insurance.

Credit Score

How do I fix my credit?

Please visit our page How to Fix Your Credit. Additionally, you could contact a credit restoration company.

What happens if I have a credit score less than 580?

Bluecastle Lending will give you, free of charge, a detailed report on how to fix your credit and achieve the  desired credit score efficently. Other companies will charge you between $1,500.00 and $2,500.00 for this  service. We believe that the hand that gives receives. We have been able to improve the score 60 points in 30 days, and more than 100 points in four months.

What is the minimum credit score needed to qualify for a loan?

For FHA 550 if you are putting 10% down, 580 if you are putting 3.5% down. For VA 580, for Conventional 620 and for Jumbo 700. No credit score needed for Hard Equity.

Down Payment

What is the absolute minimum money down I would need to buy?

For FHA loans is 3.5% of the purchase price (depending on credit), for VA is about 1% (depending on credit) of the purchase price. Call 954-866-0000 for Conventional and Jumbo

For Realtors

Multiple Payment Calculator: How do I calculate the monthly payment of several properties at the same time?

Create the “Bluecastle Lending” custom export in Matrix. See FAQs “For Realtors” to learn how to do this.

Do a search as you normally do in the MLS, and select all the records you want payments on.

Under the “Actions” tabs at the bottom of the screen, click on “Export“.  For the “Export file format:” select “Bluecastle Lending” and click “Export

Save the file in your computer, and email to your Bluecastle Lending loan officer specifying for which borrower the search is.

Receive the results in less than one business day. For our always referring clients realtors, you have access to the software 24 hrs/day free of charge

Multiple Payment Calculator: How do I create the custom export in Matrix?

Login to Matrix, and go to “My Matrix”  tab and select “Settings

Scroll down to “Custom Exports” and “Add Export

On the yellow “Export Name” enter “Bluecastle Lending

Inside the Available Fields highlight any field and add the following fields in this order:

  • Find “ML#” Click Add.
  • Find “List Price” and click Add.
  • Find “Tax Amount” and click Add.
  • Find “Association Fee” and click Add.
  • Find “Association Fee Paid Per” and click Add.

Make the Separator a “Tab”. Then “Save” the Export template.

Instant PQ

Do I need to apply for financing if I got pre-qualified with Instant PQ?

Absolutely! Instant PQ was not designed to replace a loan credit application, but rather enhance it. Quite often borrowers and realtors find themselves wanting to get answers to loan questions immediately. Other times, borrowers want to apply after they know they can qualify for the loan or what their interest rate would be. Often realtors and borrowers don’t feel like talking to someone but still wanting to know if they would qualify for financing. Sometimes borrowers want to find a house first and only apply once they find the house, just to find out once they find the house that they do not qualify for the loan. Instant PQ provides a solution to all of the above-mentioned problems and goes even much further.

How accurate is Instant PQ?

As long as the information you entered is accurate, the pre-qualification is very accurate. Whether knowingly or not, if you entered wrong information, the system will give you the wrong answer.

What do you do with my information?

Hopefully give you loan! In all seriousness, we do not sell your information to anybody. Your information is used to evaluate the feasibility of you qualifying for a loan, hoping that we will be assisting you to fund that loan.

What is the next step?

The next step is to select the loan you would like to have based on the offered options, and apply for financing. When you do, you will then enter sensitive information and you will pull your own credit report on the spot. You will be able to see it and download a copy. The system will recalculate your debt and a prequalification letter will be automatically issued.

Interest Rate

Do you charge an Origination Fee?

We don’t charge an origination fee on any FHA, VA, Conventional and Jumbo loans. We normally don’t charge the borrower on Subprime, Self Employed, most Real Estate Investor and Condo loans. We do charge on all Hard Equity loans.

Most loans are 100% lender paid, and our profit margin is so low that the interest rates are often perceived as unbelievable by many borrowers. Take a look for yourself and do a search to find out your rate on Today’s Rates page. Be aware that these rates are real and they can be locked as of the moment the search is made.

Is there any application fee?

We take pride in our low settlement charges. We will never charge you an application fee.

What would my rate be?

The interest rate will depend on your credit score, the money you put down, the loan amount, the length of the loan and the type of loan you will be getting. Give us a call at 954-866-0000 and we will give you a no obligation quote. We will also tell you a very accurate estimate of how much you are going to need to close on your loan.
CCAP program usually follows the rate published by major National banks such as Wells Fargo for an FHA 30 year fixed loan.

Will my rate change?

Once your rate is locked in, your rate will never change. Unless you specifically request otherwise, we normally do 15 or  30 year fixed rate loans and not Adjustable Rate Mortgages.

Loan Process

How do I get started with the loan process?

The first step is to take a loan application. You can do this by calling us at 954-866-0000 or by using our Instant PQ page. The second step is to deliver the documents. Please visit our How to Deliver Your Documents page. To get familiar with the loan process, please read our How to Get Your Loan Funded page

How fast can you close?

Our processing department is outstanding, and we have 24-hour underwriting answers. We normally like to schedule 30-day closings, however, if you need to close sooner we can do it as long as you are as fast providing the documents to us. We have closed FHA loans starting from zero as fast as two weeks with previously underwritten loans.

How long does it take to do the loan application?

Usually, loan applications are taken over the phone, and they take about 10 to 15 minutes with normal credit request scenarios. Coming Summer 2018, you could use our Instant PQ tool and get prequalified instantaneously 24 hours/day without having to speak to anyone. It will take just as long. Alternatively, you could always come to the office to do the application.

Qualifications for the Loan

How soon will I know if I qualify?

Instant PQ will give you the answer instantaneously. If you do the application over the phone, most scenarios will have the answer on the spot as well. However, we will need to verify the loan documents before being able to issue a loan pre-approval letter. If you upload the documents right away, you will have your pre-approval right away. We then run a Direct Underwriting approval and you have a preliminary underwriting answer right there. This is the best you can do before finding a property.

Once you have a property, and we have all your financials, the loan is submitted to the underwriter. We will normally get an underwriting approval subject to conditions within 24 business hours. As long as those conditions are met, no incorrect information was provided by the borrower, and nothing changes in the process, the loan gets funded.