Buying your home the easy way

Buy Your Home Quickly & Easily, With a Payment You Can Afford, and Half the Cash Your Bank Wants.

Consider a new revolutionary way to find and buy the right house for you. Bluecastle’s proprietary patent-pending software Turboagent (R) allows you to identify more expensive properties and still have the same monthly payment than much lesser expensive properties. Furthermore, it allows you to find the best deal on the market, the first day looking. In just seconds, Turboagent (R) filters properties whose payments are the same regardless of the purchase price. Hundreds of properties get scanned in seconds, yielding the best deals in the market for your taste and budget. That means you could potentially buy a $300,000.00 home and have the same mortgage payment of a $250,000.00 home. That makes a big difference in what you could buy! How do you find your home on the first day? When you use Bluecastle Realty, in addition to Bluecastle Lending and Bluecastle Title & Escrow, you could get up to $14,000.00 in credits. When you add our lender credit (up to 3.5% of the loan amount) with no origination fees (normally 1% of the loan amount) & no underwriting fee (usually $1,500.00), you can save up to $19,500.00 in cash out of pocket with a 400,000.00 FHA loan. This allows you to purchase your new home with half the funds you will need with most other mortgages & real estate companies. Watch these three short videos that explain how you can earn a $14,000.00 commission credit by doing the loan with us. Below find the chart that lets you know how much money most of our clients need TOTAL to purchase real estate based on their credit score, loan type, and purchase price. This is the total cash our clients will likely need, and it includes insurance, escrows, pre-paids, title fees, mortgage fees, etc. For example, a $150K buyer will need approximately $8,962.50 if the credit score is 580, or $6,369.00 if the credit is 720. A $300K FHA buyer will need $13,038.00 with a 680 score. Find out if you qualify for the program by calling Bluecastle at 954-866-0000 or email info@bluecastleLending.com FHA LOANS
Purchase Price 580 Score 600 Score 620 Score 640 Score 660 Score 680 Score 700 Score 720 Score
$150,000.00 $8,962.50 $8,962.50 $8,056.50 $7,119.00 $6,931.50 $6,744.00 $6,744.00 $6,369.00
$200,000.00 $11,692.00 $11,692.00 $10,442.00 $9,192.00 $8,942.00 $8,692.00 $8,692.00 $8,192.00
$250,000.00 $14,615.00 $14,615.00 $13,052.50 $11,490.00 $11,177.50 $10,865.00 $10,865.00 $10,240.00
$300,000.00 $17,538.00 $17,538.00 $15,663.00 $13,788.00 $13,413.00 $13,038.00 $13,038.00 $12,288.00
$350,000.00 $20,286.00 $20,286.00 $18,098.50 $15,911.00 $15,473.50 $15,036.00 $15,036.00 $14,161.00
VA Purchase – Regular Army – 1st Use
Purchase Price 580 Score 600 Score 620 Score 640 Score 660 Score 680 Score 700 Score 720 Score
$150,000.00 $5,098.00 $5,098.00 $3,786.00 $2,661.00 $2,473.00 $2,286.00 $2,2864.00 $1,911.00
$200,000.00 $5430.00 $5,430.00 $3,680.00 $2,180.00 $2,000.00 $2,000.00 $2,000.00 $2,000.00
$250,000.00 $6,702.00 $6,702.00 $4,514.50 $2,639.00 $2,500.00 $2,500.00 $2,500.00 $2,500.00
$300,000.00 $7,549.00 $7,549.00 $4,924.09 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00
$350,000.00 $8,282.00 $8,282.000 $5,219.00 $3,500.00 $3,500.00 $3,500.00 $3,500.00 $3,500.00
$400,000.00 $8,995.00 $8,995.00 $5,495.00 $4,000.00 $4,000.00 $4,000.00 $4,000.00 $4,000.00
It gets better. Starting at 9:00 am with every single property available for sale in the real estate market (about 43,000 properties in the tri-county market), your search gets narrowed down to the location, criteria, and price, usually around 500 properties. Next, we include only those homes whose mortgage payments and the cash you need to buy them, are affordable to you, and this brings the quantity down to about 150 properties (if what you want is in line with what it costs) Then, you look at the overall location, the street view of the neighborhood, the schools, the crime for the community, the census data, the monthly payment, the total cash you need to buy that house, and of course, the pictures of each property. If you like all of it, we will show the house to you right then in there. Between 1:00 pm and 8:00 pm you go visit all the properties you selected, one after the next. By process of elimination, without fail, you easily identify the best three to five properties on the market for your taste and your budget. These properties are the best deal on the market for you. You will achieve in one day, what most other people achieve in four months, and you will see twice the amount of properties that most people see in the same time frame. Please note that Baglioni Real Estate is now Bluecastle Realty. For information on this program contact Bluecastle Lending at 954-866- 0000 or email info@bluecastleLending.com . Bluecastle Lending is an Equal Opportunity Lender Bluecastle Realty is a d/b/a for Baglioni & Associates Realty LLC Lic # CQ1038727. Broker of Record: Martin A Baglioni Lic# BK657296 * It is subject to credit and underwriting approval, only for government loans, and other restrictions apply.

Bluecastle Capital

Bluecastle Capital

Get a FAIR & FAST CASH offer for your house!

We buy AS-IS. Any condition. Any situation. Your terms. Virtual property visit, offer within 2 business hours!*

If you are saying, "I need to sell my house fast", we have great news for you. Selling your house any other way isn't as quick, easy and hassle-free as Bluecastle Capital makes it. Think of all the stress you'd have getting repairs done, cleaning, having showings and the people going through your house - without mentioning the uncertainty, time and cost involved. 

Sell your house in 3 easy steps:

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Step 1

We talk over the phone and discover how we can help you solve your issue. We do a virtual visit over-the-net. You to show us your house through your phone. 
contract

Step 2

We do market research, and call you with a fair cash offer without the expense of a real estate agent commission. We close as quickly or as slowly as you want. Once the offer is acceptable to you, you have the contract in your email within minutes. 
foro casa

Step 3

We inspect the property within 3 business days, and schedule the closing as agreed. 

Get the REAL value of your home here in just 60 seconds or less!

How Much my House is Worth?

Find what your home is worth on today´s market.

We buy AS-IS. Any condition. Any situation.

You don't have to fix or clean anything when we come to see you and your house. We will see it "as-is", the same way we can buy it. We will work with you to determine how we can help you best. 

hugly house
inpection 1

NO obligation to accept anything.

We may only have to visit your house once, and we will work with you to determine how we can help you best. Our offer won't cost you anything, and you are under no obligation to accept anything.

logo BLUECASTLE CAPITAL

Get a Fair, All-Cash Offer for your house you can Trust!

We buy houses cash and give you peace of mind knowing our firm offers don’t change before closing. 

Why sell your house to Bluecastle Capital?

fast baja

We are fast.

We talk over the phone and discover how we can help you solve your issue. We do a virtual visit over-the-net. You to show us your house through your phone. 
contract work baja

We make it easy & safe.

You tell us what you need, and we figure out a way to make it work. We handle all the heavy-lifting and paperwork virtually. You are under no-obligation to sell to us. 

cash

Highest payout in the industry.

Owning a real estate company and a mortgage company has the benefit of having a set of buyers already lined up to purchase your house. This gives us an unfair advantage over other investors, allowing us to potentially pay substantially higher than anybody else. 
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No commissions.

When Bluecastle Capital buys your house, you will never pay a real estate commission.

repair 1

No repairs needed

We buy houses in any condition; good, bad or ugly. There’s no need to worry about paying for costly repairs or updates. 

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We help with any situation.

You can get relief from:  

  • Foreclosures
  • Inherited houses
  • Probate houses
  • Damaged houses
  • Ugly houses
  • Liens & violations
  • Back owed taxes

 

Call us today for a Cash Offer!

Hablamos español llame al

    CONTACT US

    Please note that Bluecastle Capital LLC is not real estate brokerage company. It is owned by a licensed real estate broker that purchases real estate to obtain a profit. 

    Charming 3/2: $295,000.00

    3 bedrooms, 2 baths, 2046 Sq. Ft., 0.33 acres

    Call 954-727-5902. Espanol 954-727-5904. EZ Info: ID# BR110-649-474

    Welcome to this Charming 3/2/2 corner lot house! It sits on an oversized lot (.33 acre). High Ceilings ( Vaulted/ Tray ceilings ).

    Lots of upgrades. New Ac in 2019, New water heater in 2019, Interior was repainted in 2018, Exterior in 2019. Bluecastle Lending, Realty & Title sells real estate in Broward, Palm Beach, St. Lucie & Miami-Dade Counties, with headquarters in Broward. With our Closing Cost Assistance Program, you could buy this house with half of the funds you will normally need with other banks.

    The Master bedroom floor was upgraded in 2018, the other rooms were done in 2019. Find your home with Bluecastle, and get exclusive notice to hot properties before they even enter into the market.

    The roof was replaced in 2018 and the garage door in 2019. At Bluecastle, we are concerned with your needs, and we care to achieve your real estate goals. Find out if you can qualify to receive up to $15,000.00 with our Closing Cost Assistance Program.

    Very well taken care of, lots of natural light and very clean and bright.
    Lots of room for a barbecue party on the covered porch. Big backyard. Our one-stop-shop makes it very easy to get answers and solve issues that may come up, way before they become problems.

    Get access to our exclusive proprietary software, and search the MLS live Know how much your monthly payment is, and how much is the cash you need to buy a house for every property you are interested in. Deliver your mortgage documents in seconds. Discover what real estate agents don’t want you to know by watching our documentary “Insider Secrets – Guide to Getting the Best Deal in the Market”, and much more!

    Junior Loan Originator

    Description:

    You will have an inside sales position in a mortgage call-center setting. You have to call our leads, convert into loan applications, and obtain documents.  Additionally, take lead transfers from our Real Estate Agents and Telemarketers.

    We offer a platform for your success that includes:

    • PQ live leads from our real estate agents & telemarketers!
    • More leads than you can handle!
    • Highest quality leads in the market!
    • Sr. Loan Officer and Processing handles all the headaches and closes the loans!
    • Incredibly low rates let you easily beat your competitors!
    • Closing Cost Assistant Program allows borrowers to purchase their home with half the funds they need with other banks!
    • Proprietary real estate software allows our realtors to find our client’s homes the first day looking!
    • Draws available!
    • Cloud-based LOS & document management
    • Proprietary mortgage software – LE’s done in seconds, Loan Master solves loan issues, easy document management, integrated with real estate tools!
    • Small, ready to blowout company, with plenty of opportunity for growth, and the tools & resources for you to succeed beyond your dreams!
    • Immediate onboarding!
    • Multiple locations in Broward coming up in 2021

    Requirements

    • NMLS Florida Licensed Mortgage Loan Originator.
    • Comfortable in a learning (not teaching) environment.
    • Proficient with computers, paperless, digital.
    • Comfortable and experienced in sales over-the-phone.

    To apply, email your resume to alex@bluecastlelending.com

    Hiring Organization: Bluecastle Lending LLC

    Job Location: 12514 W. Atlantic Blvd. Coral Springs, FL 33071

    Income: $60,000.00 to $105,000.00 /year

    Employment Type: Full time, contractor, 1099

    Date Posted: 2020-01-17  Valid through: 2020-12-31

    Senior Mortgage Loan Officer

    Title: Senior Mortgage Loan Officer

    Description:

    You will have an inside sales position in a mortgage call-center setting. You have to pre-approve loan applications taken by our Jr. Loan Originators, and then close the loan once under contract. Additionally, take lead transfers from our Real Estate Agents and Telemarketers, convert them into loan applications, and close the loan. Lastly, increase the size of your Team (and income) by recruiting & hiring new Jr. MLOs that will be under your supervision.

    We offer a platform for your success that includes:

    • PQ live leads from our real estate agents & telemarketers!
    • PQ applications taken by your Jr. MLO’s
    • Cloud-based LOS & document management
    • Proprietary mortgage software – LE’s done in seconds, Loan Master solves loan issues, easy document management, integrated with real estate tools!
    • Incredibly low rates let you easily beat your competitors!
    • Closing Cost Assistant Program allows borrowers to purchase their home with half the funds they need with other banks!
    • Proprietary real estate software allows our realtors to find our client’s homes the first day looking!
    • Draws available!
    • Small, ready to blowout company, with plenty of opportunity for growth, and the tools & resources for you to succeed beyond your dreams!
    • Immediate onboarding!

    Requirements

    • NMLS Florida Licensed Mortgage Loan Originator.
    • Experienced, intelligent, goal-oriented.
    • Troubleshoot loans solving front and back ratio issues when they arise (no loan denials)
    • Research, find and correctly interpret mortgage guidelines.
    • Effectively discuss underwriting guidelines with underwriters, and influence their decision.
    • Meet Jr MLO and personal production quotas
    • Independent and self-reliant.
    • Comfortable in a learning (not teaching) environment.
    • Proficient with computers, paperless, digital.
    • Comfortable and experienced in sales over-the-phone.

    To apply, email your resume to alex@bluecastlelending.com

    Hiring Organization: Bluecastle Lending LLC

    Job Location: 12514 W. Atlantic Blvd. Coral Springs, FL 33071

    Income: $240,000.00 to $350,000.00 /year

    Employment Type: Full time, contractor, 1099

    Date Posted: 2020-01-17  Valid through: 2020-12-31

    Bluecastle Title & Escrow

    When you purchase a home, you are really purchasing the title to the property, which is the right to occupy and use the space. That title may be contested based upon past rights and claims asserted by others. These types of claims can cause you to lose money or even worse… lose your home.

    The risk of a claim is diminished by our title search and examination. A title search is a detailed examination of the historical records concerning a property. These records include deeds, court records, property and name indexes, and many other documents. The purpose of our search is to verify the seller’s right to transfer ownership and to discover any claims, defects and other rights or burdens on the property., which include (but not limited to) unpaid taxes, unsatisfied mortgages, judgments against the seller and restrictions limiting the use of the land. For instance, the previous owner could have incorrectly stated his or her marital status, resulting in a possible claim by a legal spouse.

    A title insurance policy issued by a title insurer and signed by Bluecastle Title protects your right to ownership and is your policy of protection against loss if any of these problems (hidden or not) result in a claim against your ownership.

    If a claim is made against your property, our owner’s title insurance will, in accordance with the terms of your policy, assure you of a legal defense, pay all court costs and related fees. But also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.

    Some examples of hidden hazards are forged deeds, mortgages, satisfactions or releases. A deed granted by a person who is insane or mentally incompetent, or by a minor. The deed from a corporation, unauthorized under corporate bylaws or given under falsified corporate resolution. The deed from a partnership, unauthorized under the partnership agreement, etc. The list goes on and on, and Bluecastle’s title policy will protect you if any of these problems end with a claim against you.

    Call us at 954-866-0000 and ask to speak with Alex for more information.

     

    Bluecastle Title & Escrow Lic # W578038

    Agent in Charge: Martin A. Baglioni Lic # W022640

    Bluecastle Realty

    Buy Your Home Quickly & Easily, With a Payment You Can Afford, and Half the Cash Your Bank Wants.

    Consider a new revolutionary way to find and buy the right house for you. Bluecastle’s proprietary patent-pending software Turboagent (R) allows you to identify more expensive properties and still have the same monthly payment than much lesser expensive properties. Furthermore, it allows you to find the best deal on the market, the first day looking.

    In just seconds, Turboagent (R) filters properties whose payments are the same regardless of the purchase price. Hundreds of properties get scanned in seconds, yielding the best deals in the market for your taste and budget. That means you could potentially buy a $300,000.00 home and have the same mortgage payment of a $250,000.00 home. That makes a big difference in what you could buy!

    How do you find your home on the first day?

    When you use Bluecastle Realty, in addition to Bluecastle Lending and Bluecastle Title & Escrow, you could get up to $14,000.00 in credits. When you add our lender credit (up to 3.5% of the loan amount) with no origination fees (normally 1% of the loan amount) & no underwriting fee (usually $1,500.00), you can save up to $19,500.00 in cash out of pocket with a 400,000.00 FHA loan. This allows you to purchase your new home with half the funds you will need with most other mortgages & real estate companies.

    Watch these three short videos that explain how you can earn a $14,000.00 commission credit by doing the loan with us.

    Below find the chart that lets you know how much money most of our clients need TOTAL to purchase real estate based on their credit score, loan type, and purchase price. This is the total cash our clients will likely need, and it includes insurance, escrows, pre-paids, title fees, mortgage fees, etc. For example, a $150K buyer will need approximately $8,962.50 if the credit score is 580, or $6,369.00 if the credit is 720. A $300K FHA buyer will need $13,038.00 with a 680 score.

    Find out if you qualify for the program by calling Bluecastle at 954-866-0000 or email info@bluecastleLending.com

    FHA LOANS

    Purchase Price 580 Score 600 Score 620 Score 640 Score 660 Score 680 Score 700 Score 720 Score
    $150,000.00 $8,962.50 $8,962.50 $8,056.50 $7,119.00 $6,931.50 $6,744.00 $6,744.00 $6,369.00
    $200,000.00 $11,692.00 $11,692.00 $10,442.00 $9,192.00 $8,942.00 $8,692.00 $8,692.00 $8,192.00
    $250,000.00 $14,615.00 $14,615.00 $13,052.50 $11,490.00 $11,177.50 $10,865.00 $10,865.00 $10,240.00
    $300,000.00 $17,538.00 $17,538.00 $15,663.00 $13,788.00 $13,413.00 $13,038.00 $13,038.00 $12,288.00
    $350,000.00 $20,286.00 $20,286.00 $18,098.50 $15,911.00 $15,473.50 $15,036.00 $15,036.00 $14,161.00

    VA Purchase – Regular Army – 1st Use

    Purchase Price 580 Score 600 Score 620 Score 640 Score 660 Score 680 Score 700 Score 720 Score
    $150,000.00 $5,098.00 $5,098.00 $3,786.00 $2,661.00 $2,473.00 $2,286.00 $2,2864.00 $1,911.00
    $200,000.00 $5430.00 $5,430.00 $3,680.00 $2,180.00 $2,000.00 $2,000.00 $2,000.00 $2,000.00
    $250,000.00 $6,702.00 $6,702.00 $4,514.50 $2,639.00 $2,500.00 $2,500.00 $2,500.00 $2,500.00
    $300,000.00 $7,549.00 $7,549.00 $4,924.09 $3,000.00 $3,000.00 $3,000.00 $3,000.00 $3,000.00
    $350,000.00 $8,282.00 $8,282.000 $5,219.00 $3,500.00 $3,500.00 $3,500.00 $3,500.00 $3,500.00
    $400,000.00 $8,995.00 $8,995.00 $5,495.00 $4,000.00 $4,000.00 $4,000.00 $4,000.00 $4,000.00

    It gets better.

    Starting at 9:00 am with every single property available for sale in the real estate market (about 43,000 properties in the tri-county market), your search gets narrowed down to the location, criteria, and price, usually around 500 properties. Next, we include only those homes whose mortgage payments and the cash you need to buy them, are affordable to you, and this brings the quantity down to about 150 properties (if what you want is in line with what it costs)

    Then, you look at the overall location, the street view of the neighborhood, the schools, the crime for the community, the census data, the monthly payment, the total cash you need to buy that house, and of course, the pictures of each property. If you like all of it, we will show the house to you right then in there.

    Between 1:00 pm and 8:00 pm you go visit all the properties you selected, one after the next. By process of elimination, without fail, you easily identify the best three to five properties on the market for your taste and your budget. These properties are the best deal on the market for you. You will achieve in one day, what most other people achieve in four months, and you will see twice the amount of properties that most people see in the same time frame.

    Please note that Baglioni Real Estate is now Bluecastle Realty.

    For information on this program contact Bluecastle Lending at 954-866- 0000 or email info@bluecastleLending.com . Bluecastle Lending is an Equal Opportunity Lender

    Bluecastle Realty is a d/b/a for Baglioni & Associates Realty LLC Lic # CQ1038727. Broker of Record: Martin A Baglioni Lic# BK657296

    * It is subject to credit and underwriting approval, only for government loans, and other restrictions apply.

    Licensed Real Estate Salesperson

    Title: Florida Licensed Real Estate Salesperson

    Corporate Culture: Our most important assets are the beautiful people that work with us. Bluecastle is successful because of the hard work and efforts of every one of us. Knowing this truth makes a significant difference in how you are treated, seen, and valued. 

    Description: Call leads, show property, plus all the activities of a realtor. Bluecastle Lending, Realty & Title is conveniently located on Atlantic Blvd and the Sawgrass Expressway.

    We offer a platform for your total success:

    • We are a one-stop-shop: real estate, mortgage & title.
    • We have the absolute best quality, most motivated leads available in the market.
    • You will have consistency with a ton of daily and fresh leads
    • Our clients can receive up to $15,000.00 in financial assistance!
    • Only show property to fully approved, documents reviewed, Fannie Mae approved borrowers.
    • Salary & draws are available for the right candidate.
    • No real estate experience is necessary.
    • Proprietary software makes writing contracts, addendums, and integration with our mortgage side really easy.

    Looking for: 

    • Licensed Florida real estate agent
    • Willingness to convert HOT prospects by phone all-day
    • To work from our office in Coral Springs
    • Individuals who are self-driven with a strong work ethic

    We pay salary (if this is your preference): 

    • $30,000.00 / year base contingent on the number of calls made. We pay the first of every month according to the number of calls made and pay $1.00 per outgoing call – Maxed at $2500/month
    • $1,000.00 per sale. 2+ sales are expected minimum monthly
    • You pay $0.00 per month to Bluecastle. No desk fees, technology fees, lead fees, etc
    • You will be a 1099 independent contractor – Take the advantage of writing off your expenses! 

    We pay commission (if this is your preference)

    • The average commission to you, after Bluecastle’s cut, is $5,000.00 per sale
    • The minimum you are expected to produce are two sales per month
    • You have the leads & tools to make four-plus sales per month.
    • You pay $0.00 per month to Bluecastle. No desk fees, technology fees, lead fees, etc
    • You will be a 1099 independent contractor – Take the advantage of writing off your expenses! 

    Your duties: 

    • Make outbound calls converting prospects into leads
    • Convert on the first call OR follow up on those leads as needed
    • Answer & convert inbound calls
    • Showings, contract writing, negotiations, and other responsibilities of a real estate agent.
    • Work evenings and weekends, as needed, for showings only. No phone calls needed.

    We expect you to: 

    • Be positive and focused
    • Have no excuses.
    • Come to work on time every day
    • Make two sales per month
    • Desire to learn & make uncapped commissions – Most full-time agents earn 6 figures after 12 months.
    • Work from your own laptop – will also need a headset for calling and a reliable vehicle to show property.

    Your challenges:  

    • You will be calling people who are interested in buying real estate, all day, every day. This can become monotonous, boring, and frustrating. Persistence is key and thick skin is crucial.
    • Driving to the office every day consumes time and gas. Please confirm the distance is acceptable before applying. Working hours are 9 am until 6 pm, Monday thru Friday.
    • Newly licensed – Transitioning to any new career can be challenging. This is no different.
    • Experienced agents – “Teaching an old dog new tricks.” Our approach may be a bit different than what you are used to. Be open and trust that our process has worked for over 2 decades with remarkable success!

    Your benefits: 

    • After one year, you will be trained and with more experience than a 5-year realtor veteran due to the volume in sales. If you chose salary, you can then move to commission only and make well into a six-figure income.
    • After two years with us, we can give you 100% of the commission of all three companies (mortgage, real estate & title) to buy your own piece of real estate paradise. This allows you to buy a house with little to no money if you do an FHA loan.

    To apply: 

    Email your resume to alex@bluecastlelending.com or enter your contact information in the form below. If you prefer, call 954-633-7897 and speak with Alex for a confidential no-obligation conversation. Thank you for your interest!

      Turboagent: Find the Best Deal on the Market in One Day

      Locating the best deal in the market for you can be quite a challenge, but not so much with Bluecastle Lending’s ® proprietary software – Turboagent ®. With it, you will be able to locate houses that have the same monthly payment for a $300,000.00 property or a $250,000.00 home.  Additionally, if you use a real estate agent in our network, we will cover most of your closing costs, and find the best deal in the market for you the first day looking.

      Watch this two-minute video that explains what we do, and how we do it. Then give us a call to schedule the appointment.

      Mortgage Loan Originator

      Title: Mortgage Loan Originator

      Description:

      You will have an inside sales position in a mortgage call-center setting. You do not need to have relationships with realtors, nor pay to get your own leads. Call our leads, convert into loan applications, collect documents, and submit to processing!

      We offer a platform for your success that includes:

      • Get transfers from our real estate agents & telemarketer
      • Underwriting support desk to ask scenario questions
      • Underwriting support software to research scenario questions
      • Low rates let you easily beat your competitors
      • Work fully remote, or from our Coral Springs office
      • One-stop-shop for real estate, mortgage & title
      • Closing Cost Assistant Program allows borrowers to purchase their home with half the funds they need with other banks
      • Cloud-based LOS
      • Proprietary software allows our realtors to find our client’s homes right away
      • Plenty of opportunity for growth.
      • Immediate onboarding process with ongoing support

      Requirements

      • NMLS Florida Licensed Mortgage Loan Originator.
      • Comfortable in a learning (not teaching) environment.
      • Proficient with computers, paperless, digital.
      • Comfortable and vastly experienced in sales over-the-phone.
      • Independent thinker

      Responsibilities

      • Call leads & accept transfers
      • Take loan applications
      • Collect loan documents
      • Submit to processing
      • Troubleshoot loan conditions
      • Close the loans

      To apply, email your resume to alex@bluecastlelending.com

      Hiring Organization: Bluecastle Lending LLC

      Job Location:  Remote, or 12514 W. Atlantic Blvd. Coral Springs, FL 33071

      Income: $80,000.00 to $300,000.00 /year

      Employment Type: Full time, contractor, 1099

      Date Posted: 2020-01-17  Valid through: 2020-12-31

      Newly Licensed MLO

      We are looking for Florida licensed mortgage loan originators who want to be part of a growing company by changing people’s lives and better our world, one client at a time.

      You will have to prove to you, to ourselves and to our clients that you have the necessary skills, integrity, and passion for the job. We have immediate Opening a Florida NMLS Licensed Loan Originator!

      Bluecastle Lending, Realty & Title is conveniently located on Atlantic Blvd and the Sawgrass Expressway.

      Your job? Cold call trigger leads (100+/day), convert into loan applications, collect documents, and submit to Sr. Manager! We will pre-qualify, pre-approve, underwrite and close the loan!

      We offer a platform for your success that includes:

      • Newly licensed or no mortgage experience is OK.
      • Up to $3,000.00 monthly draws while you build your pipeline and for the first three months!
      • Work Mo – Fr 9 to 6! No evenings, weekends or holidays!
      • Immediate onboarding process with ongoing training & support
      • If you work hard, we want you to grow! You will have the opportunity to become a Sr. Loan Originator/Manager and earn a tremendous income!
      • Get transfers from our real estate agents & telemarketers
      • Multiple locations in Broward coming up in 2021

      Requirements

      • NMLS Florida Licensed Mortgage Loan Originator.
      • Experience in sales.
      • Relentless, with an eager desire to earn & grow
      • Mentally strong, able to deal with rejection
      • Strong desire to help people achieve homeownership

      Responsibilities

      • Cold call trigger leads provided daily.
      • Take loan applications
      • Collect loan documents
      • Repeat

      Job Types: Full-time, Commission

      Salary: $60,000.00 to $180,000.00 /year

      If you want an opportunity to prove you deserve a six-figure income, please email your resume to alex@bluecastlelending.com to begin the interview process.

       

       

      Careers

      Bluecastle Lending is looking to hire honest individuals who share the company culture and values.

      We strive to be an exemplary institution with a noble, worthy and vital reason to be in business. We provide affordable, lower than most banks interest rates and closing costs (we offer value), we do so with the utmost integrity, without lying or trickery, and we do not give up when clients don’t easily qualify. We have a passion for what we do, and we take it to the heart.

      We are changing people’s lives one loan at the time by figuring out a way to give them a mortgage, and by saving them money month after month for the next 30 years. Without us, several hundred homeowners would still be renting or paying substantially more money in their mortgage every month. It is our duty to serve them honorably by helping them understand we are the better choice, being grateful and reliable when they realize it, and being relentless when pursuing the funding of their loan.

      We are looking for individuals who are trustworthy, energetic, goal-driven, optimistic, self-reliant, inspiring to others, and compelled by a desire to prove their worth. Do your actions reveal the personality traits described above? If so, we invite you to apply. Place your mouse on the Careers tab to see the different positions we have available.

       

       

      October 2018

      Mortgage Rates Keep Edging Higher as Stocks Recover

      October 31, 2018

      Mortgage rates were higher by a fairly small margin once again today.  Interest rates in general (which are determined by the bond market) have been taking most of their cues from recent stock market volatility.  That’s not always the way it works, but it’s the way things have been in the wake of the big stock losses seen on several occasions in recent weeks.  Now, as stocks begin to stabilize and move higher, rates have felt some pressure to do the same.

      Unfortunately, in relative terms, the recent drop in rates hasn’t even come close to matching the move in stocks.  Simply put, the bond market is reluctant to improve too much without more substantial justification.  Such justification could take the shape of even bigger stock losses, or more realistically, weaker economic data.  To that end, the last two days of the week bring the most important economic reports with Friday’s jobs report being the biggest ticket.

      Best Execution
      Rate Change
      30 Yr FRM 4.97% +0.01
      15 Yr FRM 4.46% +0.01
      FHA 30 Year Fixed 4.45% +0.01
      Jumbo 30 Year Fixed 4.44% +0.04

      September 2018

      Mortgage Rates at 2-Week Lows

      September 28, 2018

      Mortgage rates were slightly lower again today, but there are some caveats.  First of all, the average lender wasn’t in substantially better shape compared to yesterday afternoon.  On top of that, bond markets (the underpinnings of mortgage rates) weakened throughout the day.  If lenders were beginning their day looking at current bond market pricing, we’d likely have seen rates edge slightly HIGHER.  As such, unless bonds manage to receive solid support from Asia and Europe on Monday morning, US lenders will likely be forced to bring rates a bit higher.

      Despite those gray clouds on the horizon, the average lender was indeed able to offer their lowest rates in 2 weeks for the entirety of the day, providing a much-needed respite from the recent spike toward long-term highs.

      Best Execution
      Rate Change
      30 Yr FRM 4.78% -0.02
      15 Yr FRM 4.26% -0.02
      FHA 30 Year Fixed 4.37% -0.03
      Jumbo 30 Year Fixed 4.32% -0.03

      August 2018

      Mortgage Rates End Week Near Best Levels

      August 31, 2018

      Mortgage rates caught a break to end a week that was otherwise spent moving higher.  Although we did see a bit of improvement in underlying bond markets yesterday, lenders were still getting rate sheets caught up with Wednesday afternoon’s bond market weakness.  As such, we were left with a decent trading day but no improvement in rates.

      In order to see that improvement, we needed this morning to bring stronger trading levels and that’s exactly what it did.  Lenders were consequently able to offer token improvements in the upfront costs attached to the same old rate quotes that have prevailed for weeks.

      In other words, bond markets aren’t moving enough for actual mortgage rates to change.  Instead, the movement is limited to the upfront costs (or credits) associated with any given loan–something that allows for finer tuning than the typical .125% gap between mortgage rate offerings.

      Monday is a bank holiday.  Virtually every mortgage lender will be closed, and unable to process rate lock requests.  Lenders will not be updating rate sheets until Tuesday.

      Best Execution
      Rate Change
      30 Yr FRM 4.65% -0.01
      15 Yr FRM 4.15% -0.02
      FHA 30 Year Fixed 4.37% -0.01
      Jumbo 30 Year Fixed 4.33% -0.02

      Today’s Mortage Rates

       

      https://www2.optimalblue.com/OBMMI/widgetConfig.php

      LOAN PROGRAM                                                     RATE                APR               POINTS      

      30-year fixed FHA loan                                         4.625%             5.621%          0.00%

      30-year fixed VA loan                                            4.75%                5.016%          0.00%

      30-year fixed Conventional loan                      5.125%              5.148%          0.00%

      30-year fixed Jumbo loan                                     5.375%              5.42%            0.00%

       

      These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing.

      Determining rates is a complex process. Because we do not have all of your financial information, the rate and payment results displayed may not reflect your actual situation. Today’s purchase rates are based on the purchase of a single-family, primary residence, a credit score of 740, and assumes the loan will have an escrow account.

      Bluecastle Lending offers a wide variety of loan options, and you may still be eligible for a loan even if your situation does not match our assumptions. Rates vary according to market conditions and financial profiles.

      This is a representative example based upon rates that were effective as of 10/20/2018. Rates and programs may change at any time.

      All mortgage loans are subject to credit and underwriting approval. 

      All Bluecastle Lending mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.

       

       

      Relax Inn

      48 ft Luxury Trawler

      Beautiful 48 ft trawler where almost everything on the boat is about 3 years old or newer! Over $180,000.00 spent to get this yacht totally remodeled, problem free,  low fuel consumption long range cruiser and Great American Loop vessel! This gorgeous yacht is fit and ready for all of our cruising needs! From her huge, expansive aft deck, very large and accommodating bridge, spaciousness below decks and very comfortable engine room,  you’ll see that “Relax Inn” Seamaster 48 MY has much more to offer than any other boat in its size! We truly relax economically with comfort and luxury! Rarely ever you get the combination of the four!
      This is a motor yacht/trawler with a spacious three-stateroom interior.  Interior highlights include full teak interior, expansive salon, booth-style dinette, luxurious owner stateroom, generous storage throughout. Spacious aft deck with wing doors, and wet bar.

      Rare in a 48 ft size is the 16 ft beam. With three cabins (and additional sleeping for two), and three heads…this vessel is not short on room, and it compares in its volume to 60 ft yachts. Her huge salon offers plenty of natural lighting with the wrap around windows. The galley is down to starboard with a nice sized dinette to port. The forward guest cabin is fitted with a private head. Stepping down aft of the salon is the day head, washer/dryer, second guest quarters and the master suite with private head and shower. Throughout the entire vessel, there is a plethora of storage space.

      She’s powered by twin Caterpillar diesel 3208’s that were just serviced and deliver large on performance and economy! If we cruise at a relaxing 1,650 RPM’s we’ll glide through the water at about 8-9 knots while enjoying a fuel burn rate of about 8-9 gallons an hour or less! With a fuel capacity of 350 gallons, we’ll have a cruising range of just over 350 miles! She will top out at about 2,400 RPM’s while reaching a top speed of about 16 to 18 knots.

      Relax Inn has a very stable (wide) platform with her deep keel design. She holds true to her course with predictable handling with a safe, comfortable ride in just about all conditions. Her extra wide side decks make moving about topsides an ease.

      Vessel Specifications:

      • Engines: Twin Caterpillars inboard diesel 3208 with 375 hp with 1400 hours
      • Manufacturer: Seamaster Yachts, Inc
      • Model: Motor Yacht 48 Year: 1986 Length: 47’11”
      • Total length with swim platform: 50 feet
      • Beam: 15’9” Draft: 4’3”
      • Hull composition: Fiberglass
      • Alternating Current Generator: Onan diesel 12KW (no hour meter)
      • Hull ID #: ASMY48015G586
      • USCG Doc #: 907292

      Walk through description: 

      The forward stateroom offers upper and lower berths stacked to port and followed aft by a hanging locker; several drawers are to starboard. There is a guest head aft to starboard. There are opening portlights and an overhead hatch.

      The dinette is next aft to starboard featuring a high low table with good natural lighting from the overhead salon windows and opening ports. Across to port is a well-outfitted galley with a full sized side stainless steel refrigerator with freezer, stainless steel stove and over, and a full sized microwave

      Up three steps to the large and open salon featuring new saloon furniture and abundant casual seating in the salon with a rug on top of the teak floor

      Aft and down three steps one passes the laundry center on the way to the starboard side guest stateroom with over/under crisscross single berths opposite the spacious guest head.

      Next aft is the master stateroom with a centerline queen berth, private head with very large shower stall, three hanging lockers and ample drawer storage.

      The aft deck is under a hardtop with new patio furniture, wing doors and a wet bar with ice maker. This is the focal point for entertainment, and very difficult to match the incredibly spacious aft deck. The aft deck and Fly-bridge have varnished teak doors and cabinet doors. The Fly-bridge has a new full Isinglass enclosure with U-Zips, which is up from the aft deck with a centerline helm and lots of guest seating.

      The upper deck is aft of the flybridge and covers the aft deck. Here one finds a dinghy davit, dinghy and less than 20 hours of use Honda 9.9 engine. There is also a lounge recliner to sunbathe, read or watch the stars.

      The side decks are very wide and lead from the aft deck, through wing doors, to the fore-deck with plenty of room to add an additional entertainment area.

      New items
      • New hull paint 2015 ($11,500.00)
        New paint on deck, aft deck, flybridge, upper deck and outer deck 2016 ($24,000.00)
        New non-skid deck and paint 2018 ($2,000,00)
        New bottom paint 2018 ($1,800.00)
        New stainless steel rub rail 2015 ($2,000.00)
        New Bimini enclosure 2018 ($9,000.00)
        New stainless steel portlights for entire boat 2016 ($11,000.00)
        New paint on all three heads 2016 ($3,000.00)
        New granite counters on kitchen, aft deck and 3 heads 2016 ($4,000.00)
        New faucets on the kitchen, 3 heads and aft deck 2016 ($2,100.00)
        New water faucet on port gunwale 2016 ($500.00)
        New led light fixtures on aft deck 2016 ($400.00)
        New flybridge upholstery and cushions 2016 ($2,500.00)
        New saloon furniture 2017 ($1,500.00)
        New teak flooring throughout 2016 ($18,000.00)
        New aft deck furniture 2017 ($1,000.00)
        New kitchen backsplash 2017 ($2,200.00)
        New kitchen table teak sole glossy finish 2016 ($1,500.00)
        New stainless steel refrigerator 2017 ($1,200.00)
        New teak flooring throughout the interior 2016 ($21,000.00)
        New teak high gloss wall refinish throughout 2016 ($15,000.00)
        New teak on kitchenette wall 2016 ($3,500.00)
        New interior decoration 2017 (stays)
      • New saloon a/c 2016
      • New stern underwater lights 2016 ($1,600.00)
      • New instrument gauges 2016 ($2,300.00)
      • New gauge panels 2016 ($800.00)
      • New autopilot 2015 ($5,500.00)
      • New shafts 2015 ($4,500.00)
      • New Garmin 12 inch touch screen 2015 ($7,000.00)
      • New 130 gallon water tanks 2016 ($15,000.00)
      • New back up camera 2016 (not functioning after Irma) ($800.00)
      • New fuel gauge sensor on starboard tank 2016 ($1,200.00)
      • New shaft packing units 2018 ($1,800.00)
      • New bilge pump 2018 ($750.00)
      • New water puppy 2018 ($750.00)
      • New inverter 2016 (not functioning) ($2,500.00)
      • New house and starter batteries 2017 ($1,800.00)
      • New 1000 hour service done by Caterpillar dealer (Pantropic) and replacement of engine parts 2018 ($15,000.00)
      • New a/c service on all three units 2018 ($1,500.00)
      • New aft deck ceiling rod holders (4 rods) 2016
      • New aft deck stainless steel rod holders ( 2 ) 2016
      • New kayak holders (2) 2016 ($450.00)
      • New kayaks (2) 2018 ($650.00 – included)
      • New lines 2016 and 2018 ($1,700.00)
      • New anchor 2016 ($1,800.00)
      • New swimming boarding ladder 2016 ($450.00)
      • New dinghy davit line and winch 2018 ($500.00)
      • New 2015 Honda 9.9 engine for dinghy – less than 20 hours ($2,800.00)
      • New 2018 West Marine Hypalon 10 ft double floor dinghy ($3,350.00)
      • New battery charger 2019

      Mortgage Rates Edge Lower; Volatility Potential Remains

      July 31, 2018

      Mortgage rates fell modestly today, bringing them back in line with last Friday’s levels.  Most of the inspiration for the improvement came from overnight developments in Japan, where the country’s central bank doubled down on its commitment to keep easy money policies flowing for an extended period of time.  In general, when large central banks commit to maintaining such policies, it’s good for interest rates.  Last night was no exception, but much of the benefit went to Japan’s bond market (unsurprisingly) with US markets just getting a small token of the gains.

      It should be noted that by the time such news filters through to the world of mortgage rates, the improvements are barely detectable for the average borrower.  Many mortgage seekers will be seeing the exact same quote compared to yesterday.  Those who see better quotes will almost certainly still be seeing the same interest rate, but with marginally lower upfront costs (something around $100 for every $100k financed).

      From here on out the rest of the week is busier in terms of scheduled events that could impact rates.  The potential for volatility is higher, culminating with Friday’s big jobs report.  Bottom line: rates are already near the highest levels in more than 2 months, but if the incoming economic data isn’t ‘rate-friendly,’ they could keep moving higher.

      Best Execution
      Rate Change
      30 Yr FRM 4.72% -0.01
      15 Yr FRM 4.19% -0.01
      FHA 30 Year Fixed 4.42% +0.00
      Jumbo 30 Year Fixed 4.50% -0.01

      Mortgage Rates on Autopilot Ahead of Holiday Week

      June 29, 2018

      Mortgage rates haven’t moved for 3 straight days now.  In fact, if you’re not too concerned with minutia, there hasn’t been any major movement in weeks.  Unless something big happens in financial markets soon, we shouldn’t expect that to change next week

      Rates are driven by bonds, and bonds are traded by humans (or algorithms written by humans).  Many of those humans are on vacation at the moment, having taken advantage of the lull in the market calendar between now and next week’s 4th of July holiday.  Markets will be closed on Wednesday and will close early on Tuesday.  Point being: there’s not an exceptionally vibrant marketplace underlying mortgage rate movement at the moment.

      After the holiday, however, volatility potential increases.  Traders will be getting back to the office in greater numbers and the last part of the week brings several important economic reports.

      Best Execution
      Rate Change
      30 Yr FRM 4.66% +0.00
      15 Yr FRM 4.11% +0.00
      FHA 30 Year Fixed 4.38% +0.00
      Jumbo 30 Year Fixed 4.69% +0.00

      Mortgage Rates Slightly Higher After Yesterday’s Big Drop

      May 30, 2018

      Mortgage rates were somewhat higher today as politicians struck a more conciliatory tone in Italy.  To be clear, we are indeed talking about mortgage rates in the United States in relation to European politics.  It’s not the first time and it likely won’t be the last.

      The European Union is massive in terms of the size of its economy and its impacts on the global financial system.  Threats to the stability of the EU cause shockwaves in financial markets.  Those shockwaves have an impact on everything from stock prices to mortgage rates.

      The latest threat is Italy’s would-be government: a coalition between 2 parties that are both less than enthusiastic about Italy remaining in the EU.  They drafted a lawmaking gameplan 2 weeks ago, and while it didn’t include any specific goals regarding the country’s EU membership, one of their nominees is a vocal proponent of a Brexit-style departure for Italy.

      Yesterday’s surge toward lower rates occurred because the Italian President vetoed that nomination.  At first glance, that might seem like good news because it keeps the guy who wants to leave the EU out of office.  The unintentional consequence is that new elections would have to be held and those elections would likely evolve into a referendum on Italy’s membership in the EU.

      Today saw the political tone move in a more moderate direction, with key players on both sides expressing some willingness to sort things out and try to avoid snap elections.  This does more than anything defuse the sorts of risks that helped rates yesterday.  In short, that’s why rates moved higher today.  To whatever extent the conciliatory tone grows, rates could continue higher.

      Best Execution
      Rate Change
      30 Yr FRM 4.55% +0.02
      15 Yr FRM 3.99% +0.02
      FHA 30 Year Fixed 4.33% +0.03
      Jumbo 30 Year Fixed 4.62% +0.03

      First Time Homebuyer Programs

      Buying a Home with Bluecastle Lending May Be More Affordable Than You Think

      Coming up with the cash for a down payment and/or closing costs on a house may seem challenging, or even impossible, to some homebuyers, but it doesn’t have to be. Watch this three minute video to receive an offer you will gladly accept:

      There are a number of programs that can help make homeownership more affordable, many with low- and no-down payment options; and some connected to popular government-backed loans:

      • CCAP – Closing Cost Assistance Program – exclusively offered by Bluecastle Lending, this program offers up to $15,000 in closing cost assistance for qualified homebuyers in Florida purchasing with a government loan such as FHA, VA or USDA. Restrictions apply.
      • HomeReady® – this Fannie Mae-backed program allows for a 3% down payment and offers discounts on mortgage rates and private mortgage insurance; it’s targeted at anyone with an income below the average for the area.
      • Home Possible® – a Freddie Mac mortgage option that is a great option for first-time homebuyers; it requires a down payment of only 3%.
      • FHA Loan Program – allows for down payments of just 3.5% and can be used for primary residences with 1-4 units; a big advantage is that FHA mortgage rates are much lower than conventional rates, especially if your credit is below 700. Combine it with CCAP and you could buy a $300,000.00 Florida home with as little as $12,500.00 total out of pocket for both down payment and closing costs.
      • VA Loan Guaranty – this program is available to veteran or active duty military borrowers; there is no down payment requirement and no mortgage insurance charge, regardless of how little you choose to put down. Combine it with CCAP and you could purchase a $400,000.00 Florida home with as little as $4,000.00
      • USDA Home Loan – is available to buyers in less dense parts of the country, including rural areas and many U.S. suburbs as well; it allows for 100% financing and offers reduced mortgage insurance costs as compared to other low- and no-down-payment loans. It can also be combined with CCAP.
      • 203K Renovation Loan – a great solution if your first home is a fixer-upper; if your purchase requires repairs, there’s a low minimum down payment requirement of only 3.5% and the loan covers the value of the property plus the repair costs.

      Wonder if You Qualify for Assistance? Give us a call.

      We’ve only listed some of the many options available here. Before you give up on your dream of owning a home because you think the cash required at closing is insurmountable, do an InstantPQ prequalification without a credit check to find out how much do you need and if you qualify for CCAP.

      No Mortgage Insurance – 5% down

      If you can’t come up with a 20 percent down payment, there’s an alternative that may save you money.

      Mortgage insurance is required on any mortgage with less than 20 percent down (or 20 percent equity when refinancing). It covers the additional risk the lender assumes in accepting a smaller down payment. With Bluecastle Lending, a no mortgage insurance loan with just 5% down it’s an option that’s been growing in popularity and which can save you hundreds, even thousands, of dollars a year in mortgage costs. If you’ve got good credit or you are planning on a small down payment, we have this program available.

      Let us help you realize your homeownership dreams the most economical way. Give us a call.

      Mortgage Rates Jump to 7-Year Highs

      May 15, 2018

      Mortgage rates spiked in a big way today, bringing some lenders to the highest levels in nearly 7 years (you’d need to go back to July 2011 to see worse).  That heavy-hitting headline is largely due to the fact that rates were already fairly close to 7-year highs, although today did cover quite a bit more distance than other recent “bad days.”

      In fact, today covered more ground BECAUSE we were so close to those highs.  This has to do with trading strategies that are based on math and momentum.  The high rates from 3 weeks ago were the same as the high rates seen in 2013/2014.  That reinforced a magic line in the sand that–if crossed–was likely to result in extra momentum moving through to the other side.  True to the formula, today was the first official break of those 2013/2014 highs in terms of 10yr Treasury yields (a benchmark for longer-term rates like mortgages) and as soon as that break occurred, it quickly turned into the heaviest day of selling in months (“selling” bonds = higher rates).

      Today’s Best-Execution Rates

      Best Execution
      Rate Change from yesterday
      Conventional 30 Yr Fixed 4.75% +0.09
      Conventional 30 Yr Fixed 4.17% +0.11
      FHA 30 Year Fixed 4.50% +0.05
      Jumbo 30 Year Fixed 4.79% +0.10

      Mortgage Rates Uninspired by Fed or Economic Data

      May 2, 2018

      Mortgage rates were flat to slightly higher today, depending on the lender.  The average lender was quoting the same rates as yesterday, but with slightly higher upfront costs (or a lower credit, depending on your scenario).  That said, if you could only choose one word to describe the movement, it would be “flat.”

      The flat trajectory has been intact for 3 straight days, even though today’s events had enough street cred to cause a shift in momentum.  The morning hours brought and important economic report and an even more important update on the Treasury’s borrowing needs.  Rates care about Treasury issuance because it’s the foundation of the “supply” side of the supply/demand equation for bonds (and bonds dictate rates).  Rates care about economic data because a stronger economy can generally support higher rates and it also increases pressure on the Fed to buy fewer bonds (reducing that “demand” side of the equation) or to hike its policy rate.

      In today’s case, neither the economic data nor the Treasury’s announcement were outside the bounds of investors’ expectations.  The last chance for any high drama arrived with the 2pm Fed Announcement.  Investors already knew the Fed wasn’t planning on changing rates (or anything else) today, but there’s always some curiosity surrounding their choice of words.  Today’s announcement was right down the middle, and rates were consequently unmoved, for better or worse.

      Potential volatility remains in play tomorrow and the next day, with more economic data, including the important jobs report on Friday morning.

       

       

      Best Execution
      Rate Change
      30 Yr FRM 4.65% +0.02
      15 Yr FRM 4.03% +0.02
      FHA 30 Year Fixed 4.47% +0.02
      Jumbo 30 Year Fixed 4.70% +0.02

      Mortgage Rates Unchanged Despite Market Improvements

      March 29, 2018

      Mortgage rates were generally unchanged today, although a few lenders offered slight improvements.  This stands in contrast to the noticeable improvements in underlying bond markets.  As we discussed yesterday, Treasury yields are leading the charge toward lower rates, and while the bonds that underlie mortgages are definitely lagging that move, they’re improving nonetheless.  But again, you wouldn’t really know it based on today’s rate sheets.

      The absence of lender improvements on days like today is unfortunately par for the course.  It was only a half day for bond markets and tomorrow is a full closure for the Good Friday holiday.  As such, there’s additional risk involved for lenders dropping mortgage rates for 2 reasons.  First, the counterparties required to trade the underlying bonds are harder to find on either side of a holiday weekend.  Also, an extra day and a half simply creates risk of additional market movement between now and the next time lenders can update rate sheets.  If they price too low today and rates jump higher next week, today’s commitments would have cost lenders more money than a typical market swing.

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.51% +0.00
      15 Yr FRM 3.89% +0.00
      FHA 30 Year Fixed 4.30% +0.00
      Jumbo 30 Year Fixed 4.54% +0.00

      Mortgage Rates Avoid Setting Another High

      February 28, 2018

      After moving back up to the highest levels in more than 4 years yesterday, mortgage rates fell slightly today.  Pessimists/realists would rightfully point out that today’s rates are still pretty close to those 4-year highs, and that one measly day isn’t much of a foundation for hope.  Optimists could counter that yesterday’s high rates merely MATCHED the recent highs from last week and that the past 2 weeks overall have seen the most sideways stability in 2018.

      Long story short, rates are high relative to anything seen since early 2014, but there also continues to be a chance that they’ll try to avoid going much higher in the short term.  NOTE: a “chance” means strictly that.  We’re not talking about probabilities here.

      The average lender continues quoting conventional 30yr fixed rates of 4.5-4.625% for well-qualified borrowers.  Todays’ NOTE rate would be the same as yesterdays with the modest improvement coming in the form of slightly lower closing costs.

      Today’s Most Prevalent Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.56% -0.02
      15 Yr FRM 3.92% -0.01
      FHA 30 Year Fixed 4.37% -0.01
      Jumbo 30 Year Fixed 4.58% -0.02

      Mortgage Rates Hold Steady Despite Upbeat Fed

      January 31, 2018

      Mortgage rates managed to hold steady today, on average (some lenders were slightly better while others were slightly worse) despite a more upbeat economic assessment from The Federal Reserve.  The Fed releases a statement on monetary policy 8 times a year.  These statements let markets know what the Fed is thinking and how it is planning on approaching policy in the future.  They also serve as venues to announce changes in the Fed’s policy rate, the “Fed Funds Rate,” which has a bearing on almost all other rates (including mortgages).

      The Fed wasn’t expected to hike rates with today’s statement, and this wasn’t one of the 4 meetings a year where they release updated forecasts.  That meant markets were left to glean any actionable info from the verbiage of the statement.  Despite some anxiety in the marketplace about the Fed potentially making bigger changes to its guidance, the actual statement was reasonably close to the previous version.  The only potential hang-ups were a few tweaks that gave more credit to recent economic strength and improvements in the inflation outlook.

      A stronger inflation outlook is bad for bonds and interest rates, all other things being equal.  But today’s statement didn’t do any new damage to the already gloomy rate situation.  That’s because market participants didn’t hear anything from the Fed that wasn’t already clearly understood.  In other words, the Fed essentially re-stated what was already obvious.  Rates have been moving for other reasons recently, and those motivations supersede minor course corrections from the Fed.

      The broader trend in rates remains negative.  It has been and will continue to be the case that we need to see a much bigger and longer-lasting bounce in rates before we can entertain anything else.  Needless to say, floating and hoping for a bounce is not the right strategy at the moment, even though it will end up looking like a good idea in hindsight one of these days.


      Today’s Most Prevalent Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.34% -0.01
      15 Yr FRM 3.71% +0.00
      FHA 30 Year Fixed 4.10% +0.00
      Jumbo 30 Year Fixed 4.44% -0.01

      Mortgage Rates Unchanged For 2nd Straight Day

      December 29, 2017

      Mortgage rates were unchanged again today, keeping them at the same stronger levels achieved on Wednesday afternoon.  Wednesday’s gains were much-needed as they went a long way toward erasing the damage from a quick spike that took rates to the highest levels in months last week.

      The caveat to the back-to-back weeks of volatility is that this is the end of December. Mortgage rates are driven primarily by trading in bond markets, and trading in bond markets becomes exceptionally sparse this time of year.  In market speak, the word is “illiquid.”  Imbalances between buyers and sellers always cause some movement, but illiquidity means that rates move much more than they otherwise would.

      Thankfully, this week’s illiquidity worked in our favor, and rates returned to the dominant range of the third quarter of 2017.  We could be waiting for the 2nd full week of January before we get a clear sense of how traders are approaching the bond market in 2018.


      Today’s Most Prevalent Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.04% +0.00
      15 Yr FRM 3.37% +0.00
      FHA 30 Year Fixed 3.75% +0.00
      Jumbo 30 Year Fixed 4.19% +0.00

      Worst Week For Mortgage Rates Since March

      June 30, 2017

      Mortgage rates moved higher for a 4th straight day to end the month of June.  In terms of upward movement, this has been the worst week for mortgage rates since early March, 2017.  Most borrowers are now seeing rates that are a full eighth of a point higher than Monday morning’s levels.  While that’s not even remotely close to the damage done during election week last year, an eighth of a point in 4 days is definitely on the abrupt side of historical averages.

      Whereas 3.875% had been widely available on Monday morning, the most prevalently-quoted conventional 30yr fixed rate is now up to 4.0% for top tier scenarios, and 4.125% is rapidly gaining market share.

      Whereas the lock/float outlook had been calm and steady heading into this week, it quickly turned defensive as losses mounted.  There are multiple justifications for the weakness ranging from European Central Bank “taper talk” to an overabundance of trading positions in favor of lower rates earlier in the week (which makes rates susceptible to the sort of correction we’re seeing now).  Assume rates can continue higher until we see a definitive ceiling take shape.  The earliest that could happen would be the end of next week.  The last corrective uptrend in rates lasted 3.5 weeks.

      Today’s Most Prevalent Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.07% +0.01
      15 Yr FRM 3.32% +0.01
      FHA 30 Year Fixed 3.75% +0.00
      Jumbo 30 Year Fixed 4.33% +0.02

      Mortgage Rates Slightly Lower to End 2016

      December 30, 2016

      Mortgage rates moved lower for a 3rd consecutive day to end 2016, bringing them to the lowest levels in more than 3 weeks for many lenders.  December 8th was the last time rates were lower.  As of yesterday, 4.25% regained the status of the “most prevalent” conventional 30yr fixed quote on top tier scenarios.  Quite a few lenders remain at 4.375% and a scant few are down to 4.125%.

      While this is all good news in the context of the past few weeks, 2016 nonetheless ends with one of the worst 2-month losing streaks in the history of mortgage rates.  Specifically, the 5 weeks following the election were the worst 5 weeks on record, going back to the Spring of 1987.

      For anyone considering locking or floating into the 3-day weekend (markets and mortgage lenders are closed on Monday, by the way), it’s important to remember that nothing about this week’s momentum is guaranteed to carry over into the new year.

      To repeat yesterday’s thoughts, the  recent gains are largely a result of the year-end bond trading environment.  It’s not the same bond market that’s normally pulling the levers behind the scenes.  Volume is lower and participants are in shorter supply.  Trading considerations differ from other times of the year.  It can all add up to unexpectedly quick moves and the APPEARANCE of new momentum that is subsequently erased in the new year.

      Again, that’s not to say a big bounce toward higher rates is guaranteed next week, but it’s at least an equal possibility.  Whatever the case, the past 2 days of gains can’t be viewed as the sign of a new trend.

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.21% -0.02
      15 Yr FRM 3.40% -0.02
      FHA 30 Year Fixed 3.75% +0.00
      Jumbo 30 Year Fixed 4.23% -0.02

      Mortgage Rates End October Just Off 5-Month Highs

      October 31, 2016

      Mortgage Rates moved sideways to slightly lower for the 2nd day in a row, after hitting the highest levels in 5 months on Thursday.  While the positive progress is better than a sharp stick in the eye, it nonetheless leaves us right in line with highs for all practical purposes.  In fact, virtually all lenders are putting out quotes today that are indistinguishable from Thursday’s for most prospective borrowers.  The most prevalently-quoted conventional 30yr fixed rate remains 3.625% on top tier scenarios, with a handful of the most aggressive lenders at 3.5%.

      The remainder of the week brings several flashpoints for market volatility, with Wednesday’s Fed announcement being the center of attention.  The Fed is not expected to announce a rate hike this week (though it’s not impossible, by any means).  Rather, the baseline assumption is that the Fed will use this meeting much like they used the 2nd to last meeting of 2015 to telegraph a hike in the final meeting of the year in December.

      When you see or hear a reference to the Fed hiking or cutting “rates,” it doesn’t refer to all interest rates–merely the Fed Funds Rate (the Fed’s desired, or “target” rate for overnight borrowing/lending among the largest banks, which it achieves by adjusting several policy variables).  In other words, mortgage lenders are by no means forced to instantly raise rates if the Fed declares that it will now be targeting a higher Fed Funds Rate.  Moreover, mortgage rates are more closely-related to longer-term rates, such as 10yr Treasury yields (i.e. mortgage rates tend to move in the same direction as 10yr Treasury yields, even if short term interest rates are moving in the opposite direction).

      Now for the tricky part.  Even though mortgage rates don’t follow the Fed Funds Rate, they can absolutely follow the EXPECTATIONS that precede changes in the Fed Funds Rate.  As such, if the Fed were indeed to telegraph a December rate hike, mortgage rates could face additional upward pressure.  But if this Wednesday’s Fed announcement doesn’t contain the sort of clue that many investors expect, mortgage rates have some room to move slightly lower.

      Perspective is important when discussing “lower vs higher” rates at the moment.  In general, lenders will hesitate to aggressively push rates lower with the looming possibility of a Fed rate hike in December (among other things).  That means there is decreased reward for the risk of floating.  If you’re OK with the smaller victory and accept the risk that rates continue to move higher, it wouldn’t be unreasonable to float.  If you do, make a gameplan with your originator and be ready to lock immediately if rates react unfavorably to Wednesday’s Fed.

      Best-Execution Rates

      Best Execution
      Rate Change
      30 Yr FRM 3.59% -0.01
      15 Yr FRM 2.90% +0.00
      FHA 30 Year Fixed 3.40% +0.00
      Jumbo 30 Year Fixed 3.75% -0.01

      Mortgage Rates Mostly Sideways to Begin Busy Week

      April 30, 2018

      Mortgage rates didn’t move much today, which keeps them right in line with last week’s lowest levels.  That sounds pretty good!  Unfortunately, any time prior to last week, those “lowest levels” would have been the highest in more than 4 years.

      To make things simple, look at like this: rates didn’t move more than an eighth of a percentage point (.125) for most of March and early April (lenders typically divide rate sheet offerings in 1/8th increments).  Last week brought rates a quarter of a point (.25) higher at its worst, and now we’ve recovered about an eighth.  In other words, we’re right in between the March plateau and last week’s highs.

      The rest of this week brings several important economic reports including Friday’s big jobs report (The Employment Situation, aka “Nonfarm Payrolls”).  This is the single biggest piece of economic data when it comes to labor markets and a longtime flashpoint for interest rates.  Investors are curious to see if last month’s excessively weak reading was an isolated event or a sign of labor market tightening.

      If it’s much weaker than expected this Friday, it would likely be good for rates.  Balance that against the fact that rates had enjoyed the aforementioned stability in March, and the recent trend has been decidedly unfriendly.  It makes sense to remain on guard against additional rate spikes until and unless we can make some better improvements than those seen over the last few business days.

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      30 Yr FRM 4.61% -0.03
      15 Yr FRM 3.99% -0.03
      FHA 30 Year Fixed 4.43% -0.02
      Jumbo 30 Year Fixed 4.65% -0.03

      Mortgage Rates Recover For 2nd Straight Day

      April 27, 2018

      Mortgage rates moved lower again today, bringing them back in line with Monday’s levels for the average lender.  That said, rate sheets have been very stratified between lenders during the recent spat of volatility.  In other words, even if 2 lenders were similarly-priced on Monday, they might not be today.  Compared to Wednesday (highest rates this week), today’s rates are nearly an eighth of percent lower.

      The improvement in bond markets (which underlie rates) was somewhat serendipitous in the sense that there was no overt motivation in terms of economic data or news headlines.  That’s not to say there were no big economic reports (indeed, the first reading of Q1 GDP was released this morning)–just that they didn’t elicit a big response in bonds.

       


      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      Conventional 30 Yr FRM 4.61% -0.03
      Conventional 15 Yr FRM 3.99% -0.03
      FHA 30 Year Fixed 4.43% -0.02
      Jumbo 30 Year Fixed 4.65% -0.03

      Mortgage Rates Catch a Break

      April 26, 2018

      Mortgage rates caught a break today, as underlying bond markets made it back into Tuesday’s territory.  Refreshingly, lenders were willing to set rates back at Tuesday’s levels.  That may sound exceedingly logical considering bond markets dictate rate movements, but it’s an exception to the recent rule that’s seen lenders err on the side of caution when it comes to following every little movement in bonds.

      In other words, lenders have been quick to raise rates when bonds are weaker and slow to bring them back down when bonds recover.  That makes today something of an opportunity for anyone who wished they’d locked their rate on Tuesday.  Simply put, now you can!

      These sorts of recoveries are tricky business from a forecasting perspective.  Of course there’s a temptation to hope for more when we see a nice improvement after so much weakness, but there are many examples of days like today giving way to higher rates in the coming days.  With no way to know for sure, and with benchmark rates like the 10yr Treasury yield close to scary tipping points between 4 and 6 year highs, it makes sense to remain cautious from a lock/float standpoint.

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      Conventional 30 Yr Fixed 4.64% -0.05
      Conventional 15 Yr Fixed 4.02% -0.04
      FHA 30 Year Fixed 4.45% -0.05
      Jumbo 30 Year Fixed 4.68% -0.02

      The Top Still Isn’t In For Mortgage Rates

      April 25th, 2018

      Mortgage rates had another rough day as they continued moving up into new 4-year highs.  Unlike the extremely mild and uneventful day-to-day changes seen for most of the past 2 months, rates are actually putting some distance between themselves and the March plateau.

      Whereas a well-qualified borrower with 25% down may have been quoted a conventional 30yr fixed rate of 4.5% a few weeks ago, they’d already be looking at 4.75% today for most lenders.  Of course, this can vary a bit from lender to lender, but the point is that all lenders have experienced that sort of delta.

      Will it ever stop?  Yo! I don’t know!  Actually, I do know.  The answer is yes, but I don’t know when.  Rates could (and SHOULD if we’re being honest) continue even higher from here.  They may not do so in a straight line, but barring an unforeseen market shock, today’s rates aren’t the highest you’ll see in 2018.

       

      Today’s Best-Execution Rates

      Conventional 30 Yr Fixed 4.69% +0.05
      Conventional 15 Yr Fixed 4.06% +0.04
      FHA 30 Year Fixed 4.50% +0.05
      Jumbo 30 Year Fixed 4.70% +0.01

      Mortgage Rates Push Farther Into 4-Year Highs

      April 24, 2018

      Mortgage rates moved somewhat higher again today, thus pushing them farther into the highest levels in more than 4 years. This isn’t the result of anything that happened today, but rather an ongoing process whereby the bond market (which underlies rates) is coming to terms with big-picture, long-term headwinds mentioned in the bullet points at the bottom of this article.

      Whereas rates had leveled off and even improved somewhat during March and early April, they’ve quickly shown more volatile colors.  Borrowers are definitely seeing rates that are an eighth of a point higher from last week and, in many cases, a quarter of a percentage point higher than 2018’s best levels.

      Tomorrow brings several flashpoints that keep the volatility potential high.  These include the 1st report on Q1 GDP, and important Treasury auction (which acts as a gauge of investor demand for bonds), and the biggest day of this “earnings season” (more of a factor for stocks, but stock trading can occasionally spill over and affect bonds/rates).

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      Conventional 30 Yr Fixed 4.64% +0.03
      Conventional 15 Yr Fixed 4.02% +0.03
      FHA 30 Year Fixed 4.45% +0.02
      Jumbo 30 Year Fixed 4.69% +0.04

      NOW Mortgage Rates Are at 4-Year Highs

      April 23, 2018

      Mortgage rates moved markedly higher today, officially leaving them at new 4-year highs.  The only other time they’ve earned that distinction this year was in February–NOT last week as all the major surveys claimed.  To be clear, they were certainly close last week, but the surveys didn’t account for some of the worst individual days in February.  Does any of this really matter?  No, not so much.  Here’s what matters:

      The average lender is quoting very well-qualified borrowers with huge down payments something north of 4.5% on conventional 30yr fixed mortgages today.  Let’s call it 4.625%.  Up until Friday, that number hadn’t been over 4.5% except for on a few of those ill-fated February days.

      Also important is the message that such a move sends.  Simply put, the bond market (which underlies rates) could be telling us that it’s getting back into the same gear seen last Fall and in early 2018.  In general, that’s characterized by pervasive, relentless movement toward higher rates.  The saving grace is that the underlying causes for that movement had already hit markets to some extent in late 2016.  So it remains to be seen how much more pain will be priced into rates before more investors feel bonds make sense to own (when more investors buy bonds, rates move lower, all other things being equal).

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      Conventional 30 yr fixed 4.61% +0.03
      Conventional 15 yr fixed 3.99% +0.04
      FHA 30 Year Fixed 4.43% +0.06
      Jumbo 30 Year Fixed 4.65% +0.06

      Mortgage Rates Quickly Approaching 4-Year Highs

      April 20, 2018

      Let’s clear one thing up before we begin.  Freddie Mac, MBA, and Ellie Mae all noted new 4-year highs in mortgage rates this week.  They are all technically wrong.  This has to do with the way their data is collected and/or averaged.  And while I have no doubt that they are accurately conveying the results of their data collection efforts according to their methodology, there is a more accurate way to do things.  Specifically, we can track actual lenders’ rate sheets every day.

      Even if we take an average of that daily data, we still find that rates aren’t quite back to 4-year highs just yet.  Depending on the lender, these occurred on one of the days near the end of February.  In fact, some lenders’ rates from March 21st are still higher than today’s.  Are we talking about very big differences between now and then?  Not at all!  But if we’re going to talk about rates hitting 4-year highs, we might as well be precise about it.

      One thing everyone can agree on is that today’s rates are higher than yesterday’s, which in turn, were higher than Wednesday’s.  The lion’s share of that move higher happened yesterday, but today’s underlying bond market movement suggests there’s a bit more pain yet to be priced-in to the average lender’s mortgage rate sheets.  If bonds deteriorate further this afternoon, some lenders could adjust their rate sheets today.  Those who don’t will will simply be starting next week at a disadvantage.  In other words, even if bonds are unchanged on Monday morning, mortgage lenders would likely need to begin the day with higher rates compared to today’s.

      Today’s Best-Execution Rates

      Best Execution
      Rate Change
      Conventional 30 yr fixed 4.58% +0.02
      Conventional 15 yr fixed 3.95% +0.01
      FHA 30 Year Fixed 4.37% +0.02
      Jumbo 30 Year Fixed 4.59% +0.02

       

      Lender Paid Mortgage Insurance

      To the surprise of many homebuyers, there is more than one way to obtain PMI. One of those PMI alternatives is called Lender Paid Mortgage Insurance, or LPMI, and Bluecastle Lending offers it.

      What is Lender Paid Mortgage Insurance?

      Lender Paid Mortgage Insurance is a form of PMI that is paid for by the lender via a one-time fee, rather than by the borrower monthly. Some form of PMI is required whenever a borrower puts less than 20% down on a conventional loan.

      Quite often, LPMI borrowers are able to qualify for a higher purchase price than with regular PMI, since the monthly payments are usually lower even though the interest rate is a bit higher.

      The disadvantage of LPMI is that you will have that interest rate for the life of the loan, vs a lower interest rate that will ultimately yield an even lower monthly payment than LPMI when you reach 78% Loan to Value (20% equity)

      What is better, PMI or LPMI? It depends on what your credit score is, how much you are putting down, and how long you are planning on staying on the property. Give us a call and we will gladly go over it with you according to your financial situation.

      For information on this program contact us at 954-866-0000 or email us at info@bluecastlelending.com. Bluecastle Lending is an Equal Opportunity Lender

      Mortgage Rates Jump to Highest Levels in About a Month

      April 19, 2018

      Mortgage rates jumped higher today as bonds continued a move away from narrow Springtime range seen in March and early April.  Bonds dictate rate movement and yesterday saw the bond market make its first convincing attempt to break what had been a friendly, narrow range.  This, of course, coincided with a narrow range for rates in the past few months.  It was also “friendly” relative to the trajectory seen in the first part of the year.

      When these sorts of ranges become established, the boundaries take on a special significance.  As soon as the floor or the ceiling is definitively broken, there tends to be some additional momentum in the direction of the break.  That’s why yesterday’s headline mentioned that bonds were suggesting “more trouble ahead.”  I’d hoped to be wrong about that, but here’s the trouble: today’s rates are as high as they’ve been since March 21st.  A few lenders are slightly higher.  Thankfully, that doesn’t mean too much of a change for most rate quotes.  Conventional 30yr fixed quotes for top-tier scenarios are up 0.125% at most.  Even so, it makes sense to remain lock-biased as we may not have seen the last of the “additional momentum” mentioned above.

      Today’s Rates

      Best Execution
      Rate Change
      Conventional 30 Yr fixed 4.56% +0.06
      Conventional 15 Yr fixed 3.94% +0.04
      FHA 30 Year Fixed 4.35% +0.07
      Jumbo 30 Year Fixed 4.57% +0.05

       

      Commercial Loans

      Bluecastle Lending offers a wide variety of Commercial loan products, mostly designed for those business owners looking for an alternative to restrictive bank financing. Below are some highlights:

      • Eligible Borrowers: U.S. Citizens, Permanent Resident Aliens, Legal Entities
      • Loan Amount: $250K-$2MM
      • Purpose: Purchase, Cash Out Refinance or Rate and Term Refinance
      • Products: 5-Year and 7-Year Hybrid
      • Rates: 6-9%
      • Amortization: 20, 25, 30
      • Min. Middle Credit Score: 650
      • Eligible Markets: Top 200 MSAs
      • Index: Wall Street Journal Prime Rate
      • Property Types Tier 1: Multifamily and Mixed-Use (Residential)
      • Property Types Tier 2: Mixed-Use (Commercial), Office, Retail, Light Industrial, Self-Storage, Warehouse, Automotive, Mobile Home Parks
      • Prepayment Penalty: 5% For First 3 Years
      • Credit-worthy investors or business owners looking for an alternative
        to restrictive bank financing can enjoy a max LTV for Tier1 of 80%, Tier 2 of 75%
      • Investors who may not be able to disclose certain financial information or whose properties are more valuable than a tax return might show can enjoy a max LTV of 75%
      • Owner-occupied transactions where the business owner has difficulty
        documenting their income for traditional lenders can enjoy a max LTV of 70% for Tier 2 properties.
      • Borrower does not document income on tax returns, investor and owner occupied.
      • Recently stabilized – we only need 75% economic occupancy for the preceding 90 days at a 1.2 DSCR.
      • No seasoning on title and the ability to use appraised value vs cost basis
      • Low liquidity – we only needs 3-6 months of P&I in reserves

      Subject to credit approval. For more information, contact Bluecastle Lending at 954-866-0000 or info@bluecastlelending.com

      Mortgage Rates Inch Higher as Bonds Suggest More Trouble Ahead

      April 18, 2018

      Mortgage rates moved higher today as bond markets continued a mildly weaker trend for the month of April.  Bonds (which underlie rates) are under pressure for a variety of reasons.  The most notable headwinds are longer-term and bigger-picture.  Rates responded to these headwinds in a fairly big way in Jan/Feb and have basically been “taking a break” since then.

      Rates have moved very little during this “break,” with most borrowers being quoted the same NOTE rate on any given day in the past 2 months.  Upfront costs have been the only way the modulate the EFFECTIVE rate of the average lender’s 30yr fixed quote.

      Today’s move in bonds brings 10yr Treasury yields to their highest levels since March 21st.  While this, in and of itself, doesn’t rekindle the same sort of drama seen in the first 2 months of the year, it’s raising questions as to whether or not we’re headed back in that direction.  Were the past 2 months just a temporary reprieve?  The eye of the storm?  There’s no way to know the answer today.  There’s also no change to lock/float strategy, which has been generally lock-biased since mid-December.

      Today’s Best-Execution Rates 

      Best Execution
      Rate Change
      Conventional 30 Yr fixed 4.50% +0.01
      Conventional  15 Yr fixed 3.90% +0.01
      FHA/VA 30 Year Fixed 4.28% +0.03
      Jumbo 30 Year Fixed 4.52% +0.02

      Ongoing Lock/Float Considerations

      • 2017 had proven to be a relatively good year for mortgage rates despite widespread expectations for a stronger push higher after the presidential election in late 2016.
      • While rates remain low in absolute terms, they moved higher in a more threatening way heading into the beginning of 2018
      • The scariest part of the move higher looks like it ended as of early February, and rates have been generally sideways since then
      • Even so, the potential remains for more weakness (i.e. higher rates).  It makes more sense to remain defensive (i.e. more inclined to lock) until we’ve seen a more convincing shift lower.

      Modest Improvements For Mortgage Rates

      April 17, 2018

      Mortgage rates had a calm day.  Lenders who had offered improved rate sheets yesterday afternoon didn’t see much reason to drop rates any further today.  Lenders who took a more conservative route yesterday ended up being a little better off.  Although there were several economic reports this morning, bonds (which drive rates) did nothing to respond and have generally been uninspired so far this week.

      In fact, in a broader sense, bonds haven’t exhibited much inspiration for more than a month.  Although rates have descended modestly since late February, it’s just as fair to label that movement as “flat” in the context of typical rate movement.  For example, most borrowers would still be quoted the same “note rate,” with the only difference being slight changes in upfront fees/points.

      Today’s Best Execution Rates

       

      Conventional 30 yr fixed 4.49% -0.01
      Conventional 15 yr fixed 3.89% -0.01
      FHA 30 Year Fixed 4.25% +0.00
      Jumbo 30 Year Fixed 4.50% -0.02


      Ongoing Lock/Float Considerations

      • 2017 had proven to be a relatively good year for mortgage rates despite widespread expectations for a stronger push higher after the presidential election in late 2016.
      • While rates remain low in absolute terms, they moved higher in a more threatening way heading into the beginning of 2018
      • The scariest part of the move higher looks like it ended as of early February, and rates have been generally sideways since then
      • Even so, the potential remains for more weakness (i.e. higher rates).  It makes more sense to remain defensive (i.e. more inclined to lock) until we’ve seen a more convincing shift lower.

      Foreign National

      Foreign National loans are designed for borrowers who live outside of the United States and would like to purchase a second or investment home.

      • Up to 75% LTV
      • No US credit required
      • Fewer country restrictions
      • DTI up to 50% considered
      • Second homes and investment properties
      • SFRs, townhomes, condos, 2-4 units
      • No SSN or ITIN required
      • 12 months reserves required
      • Non-warrantable condos considered
      • 5/1 ARM or 30-year fixed
      • Loans up to $750,000 (minimum $75,000)
      • Seller concessions up to 2%

      Documents needed

      • Visa and Passport
      • Three Credit Reference Letters from your country.
      • Letter from employer verifying employment and wages (for employees)
      • CPA or Accountant letter reflecting annual gross income for 2 years, including year to date income.
      • Additional documents such as signed loan application and disclosures, clear title, appraisal, etc.

      Mortgage Rates Rise Despite Market Improvement

      April 13, 2018

      Mortgage rates were slightly higher for most lenders today even though underlying bond markets suggested the opposite.  This is partly a timing issue.  Yesterday saw bond markets weaken throughout the day.  Weaker bonds imply higher rates.  After a certain amount of weakness, mortgage lenders will adjust rates and re-issue new rate sheets (aka a “negative reprice”).  Many lenders did this yesterday, but not all of them.  Even among the group that repriced, most of them did so earlier in the afternoon and bonds continued to weaken through the end of the day.

      The net effect of all of the above is that most lenders had some catching up to do with bond market weakness that they hadn’t fully accounted for yesterday.  Those that didn’t merely kept rates roughly unchanged.

      Intraday volatility was, once again, closely linked with the stock market.  This isn’t always the case, but bonds/rates are at a crossroads.  They’re not ready to decide on their next big move on their own.  As such, they’re willing to take cues from stocks for the time being.  Be aware, this correlation will come and go throughout the day on any given day.  It’s not safe to EXPECT that it will continue.

      The good news is that they didn’t land too far from yesterday’s levels in the grand scheme of things, and are still technically closer to the bottom of their March/April range.

      The saving grace for slightly higher rates is the fact that the range over the past 2 months has been exceptionally narrow.  Most borrowers haven’t seen their quoted NOTE rate change during that time (it’s only been the “EFFECTIVE rate” which takes upfront costs into consideration).

      Today’s Best Execution Rates

      Conventional 30 yr fixed 4.50% +0.01
      Conventional 15 yr fixed 3.89% +0.01
      FHA/VA 30 Year Fixed 4.25% +0.00
      Jumbo 30 Year Fixed 4.51% +0.01

      Ongoing Lock/Float Considerations

      • 2017 had proven to be a relatively good year for mortgage rates despite widespread expectations for a stronger push higher after the presidential election in late 2016.
      • While rates remain low in absolute terms, they moved higher in a more threatening way heading into the beginning of 2018
      • The scariest part of the move higher looks like it ended as of early February, and rates have been generally sideways since then
      • Even so, the potential remains for more weakness (i.e. higher rates).  It makes more sense to remain defensive (i.e. more inclined to lock) until we’ve seen a more convincing shift lower.

      Mortgage Rates Back to Unchanged After Starting Higher

      April 16, 2018

      Mortgage rates began the day at higher levels, as bond markets lost ground overnight.  Bonds dictate rates, and “losing ground” means bond prices are falling.  When bond prices fall, rates move higher.

      There’s some chatter in the marketplace about developments in Syria being the motivation for every little move in bonds/rates.  Rather, it’s more accurate to say it’s ONE OF the motivations behind SOME of the moves.  Bonds had a few other concerns overnight.  That’s why they were able to improve during domestic hours even though nothing changed with respect to Syria.

      As bonds improved, most lenders ended up releasing positively-revised rate sheets.  After the revisions, today’s mortgage rates ended up in substantially similar territory to last Friday’s.  Lenders who didn’t reprice are naturally still at slightly higher rates, but would be heading into tomorrow with an advantage, all other things being equal.

      Today’s Best Execution Rates

      Conventional 30 yr fixed 4.50% +0.00
      Conventional 15 yr fixed
      3.90% +0.01
      FHA 30 Year Fixed 4.25% +0.00
      Jumbo 30 Year Fixed 4.52% +0.01


      Ongoing Lock/Float Considerations

      • 2017 had proven to be a relatively good year for mortgage rates despite widespread expectations for a stronger push higher after the presidential election in late 2016.
      • While rates remain low in absolute terms, they moved higher in a more threatening way heading into the beginning of 2018
      • The scariest part of the move higher looks like it ended as of early February, and rates have been generally sideways since then
      • Even so, the potential remains for more weakness (i.e. higher rates).  It makes more sense to remain defensive (i.e. more inclined to lock) until we’ve seen a more convincing shift lower.

      FHA 203 (k)

      FHA 203K loans may be used to do minor remodeling and non-structural repairs on your primary residence. Bluecastle Lending does Limited 203 (k) loans.  Below are some highlights:

      • Minor remodeling and non-structural repairs only
      • Minimum $5,000 repair amount and maximum $35,000 including all costs
      • A 203(k) fee consultant is not required but may be used
      • Repairs must start within 30 days and be completed within 6 months
      • Maximum of 2 draws (Initial and Final)
      • Projects cannot have more than three (3) specialized contractors without the use of a General Contractor to manage the project
      • Painting and appliance purchases may be included as self-help

      Limited 203 (k) Eligible Repairs and Improvements

      • Eliminating health and safety hazards to meet HUD’s minimum property requirements (MPRs)
      • Repair/replacement of roof provided the structural integrity of the structure will not be impacted by the work being performed; siding; gutters and downspouts
      • Repair/replacement/upgrade of existing: HVAC systems, plumbing, and electrical systems
      • Repair/replace/add exterior decks, patios, porches (must increase As-Is Property Value equal to the dollar amount spent on the improvement)
      • Minor remodeling, such as kitchens, which does not involve structural repairs
      • Painting, exterior and interior (changes for improved functions and modernization)
      • Eliminating obsolescence
      • Purchase and installation of appliances including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
      • Accessibility improvements for persons with disabilities
      • Lead-based paint stabilization or abatement of lead-based paint hazards if the structure was built before 1978
      • Septic system and/or well repair or replacement
      • Connecting to public water and sewage systems
      • Pool repairs
      • Installing/repairing fences, walkways and driveways
      • Check HUD’s website for a complete list of allowable repairs; www.hud.gov

      Note: All repairs/improvements must meet HUD’s minimum property requirements and meet or exceed local building codes.

      Limited 203 (k) Ineligible Repairs and Improvements

      Major rehabilitation/remodeling, such as when any of the following exists:

      • Repairs/improvements requiring a work schedule longer than six months to complete
      • Rehab activities require more than 2 payments per specialized contractor
      • The required repairs arising from the appraisal requiring a HUD Consultant to develop a specification of repairs/Work Write-Up or requiring architectural exhibits/plans
      • The repair prevents the borrower from occupying subject property for more than 15 days Major remodeling and structural repairs/alterations such as 1-4 structure conversion, additions, finished attics, basements, constructing a garage, changing footprint or requiring architectural plans, etc.
      • Site improvements and landscaping
      • Constructing a windstorm shelter
      • Additions/alterations to support commercial use or to equip/refurbish space for commercial use
      • Recreational or luxury improvements such as –
        o Swimming pools
        o Exterior hot tub, spa, whirlpool bath or sauna
        o Barbecue pits, outdoor fireplaces or hearths
        o Bath houses, tennis courts, satellite dishes, photo murals, gazebos,
        o Tree surgery (except when eliminating an endangerment to existing improvements)

      Manufactured Housing

      Our Conventional & FHA Manufactured Housing mortgages are designed to make homeownership affordable for Purchases, Rate/Term and Cash-Out Refinances. We understand the unique in’s and out’s that financing manufactured homes present, that’s why we provide mortgages that are specifically aimed at making homeownership affordable for these types of homes.

      All manufactured homes must have the original title surrendered in accordance with applicable state law and be titled and taxed as real property prior to closing for both Conventional and FHA loans. All loans must score Approve/Eligible or Accept through DU or LPA.

      Conventional Highlights:

      • Primary Homes and Second Homes
      • Purchase, Rate-Term:
        • Maximum LTV 95%
        • Minimum FICO 660
      • Cash-Out:
        • Primary Only
        • Maximum LTV 65%
        • Maximum Term 20 Years
        • Consolidation of 1st and 2nd lien only
      • PUDs Eligible

      FHA Highlights:

      • Primary Homes
      • Fixed Rate Only
      • Purchase, Rate-Term & Streamline:
        • Maximum LTV 96.5%
        • Minimum FICO 660
        • Maximum DTI 50%
      • Cash-Out:
        • Maximum LTV 85%
        • Minimum FICO 660
        • Consolidation of 1st and 2nd lien only
        • Maximum DTI 50%
      • PUDs Eligible

      Condos

      In today’s market, most condos do not qualify for regular Conventional or Government financing. To find out if the condo you want to buy qualifies for FHA, visit the HUD website. Enter the State and County, and under Status select Approved. If you are looking to do a VA loan, go to the VA website and do the search.

      If the condo is not on the HUD site, it will not likely be approved for a Conventional loan without a limited review approval. Check the Fannie Mae Approved Project List website.

      How do you get a limited review approval? Unless the project is a non-warrantable condo, you put 25% down and that’s it.

      To calculate your monthly mortgage payment and cash you will need, use our Loan Estimate tool. Enter the price, taxes and hoa fees, and select the Conventional loan type. Select Include Escrows and Second Mortgage checkboxes.

      For more information please contact Bluecastle Lending at 954-866-0000 or info@bluecastlelending.com. Bluecastle Lending is an Equal Housing Lender.

      Price Your Loan

      These are live rates that you could lock as of the moment the search is done. Under More Specific Options, you can enter the number of days the loan can be locked, full documentation options, Military for VA veterans, Interest Only option, Hazard Insurance Waived, Property Taxes Waived, First Time Home Buyer, Non-Permanent Resident Alien and Foreign National loans

      Understanding the Results
      Rate is the actual interest rate that you will have for the selected loan.
      Disc Points is the percentage of the loan that will be charged (no negative sign in front of the rate) or credited (the negative sign in front of the rate) to you. For example, if you see a 5% interest rate with -1.250% under Disc Points, it means that 1.25% of the loan amount will be given to you as a credit at closing. Lender credits are what is used for the CCAP program.
      APR is the annual rate charged for borrowing or earned through investment and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan. This is not your interest rate.
      Months are the number of months that the loan will be financed.
      Payment is the principal and interest portion of the monthly payment. It does not include real estate taxes, homeowner’s insurance, mortgage insurance or association fees.
      30 Year Fixed Conforming is a Conventional Loan, 30 Year Fixed Non-Conforming is a Subprime, Self Employed, or Investor Loan. 30 Year Fixed Affordable Products are products for first-time homebuyers and have an income ceiling.

      Non-Warrantable Condos

      A non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac or Fannie Mae, and as such, mortgage financing for this type of property is considered by most banks to be more “risky.” Freddie Mac and Fannie Mae would consider a condo to be “non-warrantable” if, for instance, the condo:

      • Is in a development which has yet to be completed
      • Is in a development which allows for short-term rentals
      • Is in a development where one person or entity owns more than 10% of all units
      • Is in a development where less than 50% of the occupants in a complex are the owners
      • Is in a development involved in litigation of any kind regardless of whether the building is suing another party, or is the party being sued.

      Typically, a condo is considered warrantable if, for instance:

      • No single entity owns more than 10% of the units in a project, including the developer
      • At least 51% of the units are owner-occupied
      • Fewer than 15% of the units are in arrears with their association dues
      • There is no litigation in which the homeowner’s association (HOA) is named
      • Commercial space account for 25 percent or less of the total building square footage
      • Mortgage Loan Solution for Non-Warrantable Condo Borrowers and Self-Employed Borrowers

      4 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
      Loans up to $3 million (minimum $150,000)
      Credit scores starting at 660
      Up to 90% LTV/CLTV
      Owner-occupied and second homes
      Non-warrantable condos
      Interest-only available
      Cash-out available – $500,000 maximum
      Full doc and bank statements available
      Option to qualify with assets instead of income
      1-year tax return program available

      • Hard Equity Loans

      Only if you have applied for a Conventional loan and your loan has been denied, or you can’t get any other type of mortgage loan, then this type of loan may be attractive.  These are the “no questions asked” loans for investment properties. It does not matter if you don’t have a social security number, or if you have an open foreclosure, short sale or bankruptcy, or if you can’t show tax returns or pay stubs. The only thing that matter is the loan to value – cannot exceed 70%.

      You will have to pay a high-interest until you can qualify to refinance or you sell the property. If some of the above hold true to you, you have 30% to put down, and you are willing to take a two-to-five-year loan with a high interest, then this is the loan is for you.

      Real Estate Investors

      • Real Estate Investor Cash Flow Program: Mortgage Loan Solution for Real Estate Investors

      No personal income used to qualify
      Qualification based on property cash flow (10% above monthly mortgage payment)
      2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
      Credit scores down to 660
      Up to 80% LTV
      No DTI restrictions
      Must have current mortgage / own a home
      1-4 units and condos
      No limit on number of properties financed (up to 5 with this program)
      Loans up to $1 million
      Seller concessions allowed up to 2%
      7/1 ARM

      • Asset Qualifier Program: Mortgage Solution for Cash-Rich Borrowers

      No employment, no income, no DTI
      Up to 75% LTV
      5 Years seasoning foreclosure, short sale or bankruptcy
      Loans up to $3 million (minimum loan $150,000)
      Credit scores 700 or higher
      Primary residence, purchase only
      Interest only program available
      5/1 ARM or 30-year fixed
      Non-Warrantable condos considered
      All assets must be sourced and seasoned for a minimum of 12 months
      Required assets: Borrowers must have at least $500,000 in post-closing assets, recurring monthly debt multiplied by 60 months, funds to close and 6 months reserves

      Loans for Self Employed Borrowers

      More often than not, self-employed individuals have a hard time obtaining financing due to their low Adjusted Gross Income on their personal 1040 Tax Return.

      One of the most common questions we receive get is “How much do I have to make in order to qualify to buy a house?” Our Income Tax tool will easily answer that question instantaneously. As long as you report the minimum Adjusted Gross Income that the tool suggests, and your debt stays the same, you will be able to qualify for a Fannie Mae, Freddie Mac or Ginnie Mae backed loan and get a normal interest rate.

      If you are unable to have that kind of Adjusted Gross Income on your tax return, then these Self Employed Mortgage Loans are designed for you.  These loans that are not fit to be sold in the secondary market and do not follow Freddie Mac, Fannie Mae or Ginnie Mae guidelines. Usual loan denials due to unable to verify income for self-employed individuals are no longer an issue. Below are some of our programs.

      • Bank Statement Program: Mortgage Loan Solution for Self-Employed Borrowers

      No tax returns required
      12-month personal bank statements
      24-month business bank statements
      Loans up to $3 million
      Credit scores down to 600
      Up to 90% LTV on Personal and Business with no MI
      DTI up to 50% considered
      Owner-occupied, 2nd homes and investment properties
      2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
      Non-warrantable condos considered
      Jumbo loans down to 600 score
      5/1 ARM or 30-year fixed
      No pre-payment penalty for owner-occ and 2nd homes
      Seller concessions to 6% (2% for investment)
      2 year self-employed required

      • Asset Qualifier Program: Mortgage Solution for Cash-Rich Borrowers

      No employment, no income, no DTI
      Up to 75% LTV
      5 Years seasoning foreclosure, short sale or bankruptcy
      Loans up to $3 million (minimum loan $150,000)
      Credit scores 700 or higher
      Primary residence, purchase only
      Interest only program available
      5/1 ARM or 30-year fixed
      Non-Warrantable condos considered
      All assets must be sourced and seasoned for a minimum of 12 months
      Required assets: Borrowers must have at least $500,000 in post-closing assets, recurring monthly debt multiplied by 60 months, funds to close and 6 months reserves

      For more information please contact Bluecastle Lending at 954-866-0000 or info@bluecastlelending.com