A Non-Qualified Mortgage (Non-QM) loan is a type of mortgage that does not meet the standards set by the Consumer Financial Protection Bureau (CFPB) for a qualified mortgage (QM). These standards were put in place to ensure that borrowers are not given loans they cannot afford and to protect them from predatory lending practices. The …
A jumbo loan, also known as a non-conforming loan, is a type of mortgage that exceeds the conforming loan limits set by government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac. These limits are determined by the Federal Housing Finance Agency (FHFA) and are based on median home prices in a specific area. In general, …
Credit cards can be a powerful tool for building and improving credit, but they should be used responsibly. When used correctly, credit cards can help to establish a credit history, improve credit scores, and even save money through rewards programs. However, if not used responsibly, credit cards can lead to high levels of debt, penalties, …
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A USDA mortgage is a type of home loan that is guaranteed by the United States Department of Agriculture (USDA). These loans are designed to make homeownership more accessible to people who live in rural or suburban areas, and who may not qualify for a conventional mortgage. The USDA sets guidelines for the types of …
A mortgage rate is the interest rate that a borrower must pay on a home loan. The mortgage rate is determined by a variety of factors, including the terms of the loan, the borrower’s credit score and financial history, and the current market conditions. When a borrower applies for a mortgage, the lender will typically …
The Federal Reserve, or the “Fed,” is the central bank of the United States. It is responsible for implementing monetary policy, which is the process of managing the money supply in the economy to achieve certain goals. One of the key tools that the Fed uses to implement monetary policy is the interest rate, which …
How Much Down Payment do you Need to Purchase a Home? At Jonathan Torres and Torres Mortgage Team, we often get asked how much borrowers should put down on a home. There isn’t a one-size-fits-all answer, but borrowers should consider many factors when choosing their down payment. Keep reading to learn what you should consider …
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Have you ever heard that a borrower has VA financing and turned them away? Unfortunately, it happens more o?en than most people think. However, VA financing is much more aBracCve than most people realize, and VA borrowers shouldn’t be turned away. VA loans help veterans who served our country secure financing. The loan is governmentbacked, …
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Mortgage Broker
Jonathan Torres
1522 Penman Rd.
Jacksonville Beach,
FL 32250 NMLS#1994043
Phone: 518-368-0090
Serving: FL,TX,TN,ND,NC,MT,MI MA,GA,CT,AL
Barrett Financial
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NMLS#181106
Phone: 480-459-4500
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