February Community Newsletter

Dinner for Two: Reservations Available

Mortgage Monday: Payment Shock

What is payment shock and how does it affect your mortgage approval?

When the underwriter is reviewing your mortgage application, they will look at what you are paying for your current rent or mortgage compared to what your new estimated mortgage payment will be. If the new payment is estimated at a considerable amount higher than what you are currently paying, it is considered “payment shock”.

What do the underwriters look at to counter this payment shock? If your new payment will be increasing by $500/month, underwriters will look to see if you have been able to maintain at least this much in liquid assets. If you haven’t, it’s not to say that you won’t be able to get an approval on your application, but they will then review the rest of your file to see what other positive factors you have.

Contact me today for more information.
Danielle Hifko
New American Mortgage
910-581-6398

Mortgage Tip: Perfect Time to Refinance

What is your current mortgage interest rate? Rates have significantly dropped and have started to steady right between three and four percent.  

When is it a good time to refinance? A lot of mortgage professionals may estimate a savings of 1.00% interest rate to be worth your while.

What are the costs of refinancing? There are fees associated with refinancing such as attorney, title, interest, etc, however, the mortgage lender may be able to cover part or all of these fees for you.

We now offer a new program for VA refinances that allows you to refinance without a new appraisal being required!

Call me today for more details:

Danielle Hifko

910-581-6398

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It's Not Just a House; It's a Home

Scan with your smart phone to see what all the fuss is about!

And the Winners Are...

Congratulations to our B-I-G CASH Winners from yesterdays 

Grand Opening for Lake Carolina Homes!

$500 CASH Winners

• Karen Lewis, Prudential Hometown, REALTORS
• Christy Grifaldo, Grifaldo Properties

$250 CASH Winners

• Sheri McDermott, Coldwell Banker Sea Coast Advantage Jacksonville
• David Zarghami, HomeTown Real Estate
• Karen Eldred, Century 21 American Properties West
• Jasmin Luckett, Prudential Hometown, REALTORS
• Lisa Darby, Prudential Hometown, REALTORS
• Audrey Gaffney, RE/MAX Home Connections
• Carolyn Hall, Coldwell Banker Sea Coast Advantage Jacksonville
• Carol Tusing, Century 21 Champion Real Estate 

Thank you again to everyone that attended the Open House!

*Winnings are available for pick-up at the Southwest Plantation Sales Center.

(Sales Center CLOSED Friday, November 9th)