A Bright Career Ahead: Becoming a Mortgage Broker

A Bright Career Ahead: Becoming a Mortgage Broker

Being a mortgage broker can in fact be one of the very best careers today. It not only comes with its own rewards but opens up a door to a world few have knowledge about. The real estate and lending market is really quite unique in a sense because while thousands and thousands have a mortgage they don’t really know too much about the people behind it. So, why should you look into becoming a mortgage broker?

Can Start Your Own Business

First and foremost brokers who are fully trained have a lot of options available to them. They can work alongside an established company or create your own business. This can be absolutely fantastic because starting a business gives you the freedom to do whatever you want. You can work for the people you want to work with and earn a lot of money also. The great thing about becoming a mortgage broker Melbourne is that you can start a wonderful new business and have a career you treasure also.

A Bright Career Ahead: Becoming a Mortgage Broker

Have Flexible Hours

Another reason to think about becoming a broker is because of the hours you keep. If you have your own business then you are the one who chooses when and where you work. This isn’t just good for those with a busy lifestyle but a young family also. Of course, you don’t just have to work the regular 9-5 hours. It is amazing and it will be something you want to consider also. A mortgage broker usually keeps some strange hours, but they can be flexible for most giving them more freedom to enjoy the things they love most.

Help Others Find Their Perfect Home

Getting the right mortgage can be difficult but helping others to reach their dream home can be very rewarding. This is something you want to think about because it can be quite good. If you love to help people then this is the career for you and you never truly know where the job will take you. You are going to love to help others find their perfect mortgage. A mortgage broker Melbourne also meets a lot of people.for related information, click on : https://www.moneysmart.gov.au/borrowing-and-credit/home-loans/using-a-broker

Potential for Success

The great thing about becoming a mortgage broker Melbourne is that you have so much potential. Right now there are millions of people who want to buy their own home and that means they are going to need a mortgage broker. As the market improves and the demand increases so does the potential for brokers. Of course, it isn’t as straightforward as it sounds but if you are willing to do the hard work then success can be around the corner.

Enjoying a Bright Career as a Mortgage Broker

When it comes to choosing a new career, one of the best options to consider is becoming a mortgage broker. This can be a wonderful career and something that you want to think about when searching for a new direction. You will find a mortgage broker’s career is quite varied but at times exciting and a lot of fun. Will you become a mortgage broker Melbourne?

New FHA Loan Program Availability

New FHA Loan Program Availability

A new FHA loan program was instituted in October 2008 that has the express intent to insure $300 billion dollars worth of mortgage loan payments for three consecutive years. HOPE for Homeowners Act of 2008, previously signed into law, is intended to help those of you who are in eminent need of help to forestall foreclosure of your home mortgage.

If you qualify for the new FHA loan program, you can get an FHA backed loan to refinance your current mortgage at 90% of the present market value of your home regardless what you paid for it originally. You will also be eligible to receive a more comfortable fixed rate loan plus a 10% equity interest.

The new FHA loan program also contains a $7500 tax credit, which is intended to help you get a mortgage loan if you are a first time homebuyer or a new homebuyer. Inexpensive housing areas of the country, the mortgage loan limit is capped at $625,000. There is also a $4 billion grant, which expressly indicates its use for renovating homes in blighted areas. Additionally, the bill sets aside $180 million to provide homeowner counseling for those of you facing eminent foreclosure.

New FHA Loan Program Availability

The new loan program provides you the ability to cut your loan balance up to 40% plus maintain a 10% equity interest. To qualify, you must be in an owner occupied thehome, pay no more than 31% of your gross monthly income in mortgage payments and not be an owner of investment property. If you have defaulted on your current mortgage, you must prove it was not done intentionally.for further details, visit : https://www.usbank.com/home-loans/mortgage/fha-mortgages.aspx

An FHA lender will appraise your home at up to 90% of its current market value rate if you qualify for the program. The lender will be required to waive any fees or penalties if you are in dire financial straits. Also, you must agree to a shared equity schedule for five years except in loans that are made for home improvements or home maintenance.

This new FHA loan program should be a major help to many of you who have been stung by the current economic and housing crisis. While this program has certain constraints, it certainly beats the alternative option of losing your home forever to foreclosure. To determine if you qualify for this program contact your local HUD authorized counselor or contact the FHA office directly.