Mortgage Lenders in Oviedo, FL

“Our mortgage loan officer, Vicki, was absolutely outstanding from start to finish. She was knowledgeable, responsive, and guided us through every step of the process with clarity and confidence. Thanks to her dedication and attention to detail, everything went smoothly and on time, making what could have been a stressful experience feel easy and reassuring.”

“Lynda and her team at 1st Residential Funding Inc were truly wonderful from the moment we started working with them. Lynda was very knowledge and gave us a quick overall run down of what we can expect from the process and how her team will assist us each step of the way. Debbie was an amazing mortgage broker and really took her time explaining all the details of our loan scenarios. As first time home buyers we knew nothing about the process which led us to having a ton of questions. Debbie always took her time to explain and answer each question we had in great detail. She made us feel so comfortable during the entire process and it felt like she treated us as family. We cannot recommend working with Debbie enough, especially if you are a first time home buyer! Thank you Lynda and Debbie for all the help and we will be coming back for any needs in the future!”

“A big thank you for Patrick McDaniel 2 movement mortgage for somehow pulling a rabbit out of a hat. I had a transaction that looked easy at first. The buyers were putting $100,000 down on a $250,000 purchase, with only a $150,000 loan. It sounds like a slam dunk, doesn’t it? That is, until you find out more about the condo association.

Good news: the condo is only two stories. Bad news: it’s not approved by Fannie Mae or Freddie Mac. . (Side note: the MLS had stated this condo could qualify for a conventional loan, but apparently, the listing agent didn’t verify this information.)
The previous lender busted her but to get them approved even submitted it to no fewer than 3 other lender sources. She spent over 15 hours trying to get this done, as my clients had excellent credit too. It seemed like a sure thing.

Then, during our office meeting, Patrick mentioned he had a HELOC loan option that could work for unconforming condos aka not approved by Fannie Mae or Freddie Mac.

Well, after investigating, the buyers decided the interest rate on the HELOC was too high and wanted a conventional loan instead.

So, how do we get around this? We get the condo approved.

Here’s the catch: the 3 other lenders wouldn’t even go through the extensive condo approval process for Fannie Mae or Freddie Mac loan. Apparently, they don’t offer that option anymore because they don’t want to deal with condo lending. But Patrick and his team were willing to take on the challenge. After Patrick and I reviewed all the basic questions on the very detailed condo questionnaire—not just the standard one required for Fannie Mae and Freddie Mac—we both believed it should work.

The investor ratio was non-existent (yay!), it was an over-55 community (yay again!), and after looking at their budget, the reserves looked great. Here is the the amazing part after we finally got the HOA to complete the very detailed condo questionnaire, Patrick and his team received it on a Monday. By Friday—yes, just five days later—they told me it was *almost* approved.

I asked, “What does *almost* mean?”

Apparently, the HOA didn’t have enough flood insurance for Fannie Mae and Freddie Mac requirements. That was $160k per unit. After rounds and rounds of discussions with the insurance agent (who insisted they were adequately covered) and trying to explain this to the HOA president, we discovered the issue: the HOA’s coverage was $320,000 short coverage. That sounds like a lot, but in reality, it only amounted to less than $650 more in annual premiums for the entire community—less than $3.40 per unit per month! This small increase would take a cash-only condo and make it loanable.

Would you believe the HOA still dragged its feet? They claimed they needed more research, wanted to review their obligations, and hesitated to make the change. I was so determined to close this deal that I whip out my checkbook—and I did. I will paid the difference myself. My wonderful clients made sure I was reimbursed, and we closed just five days after the original closing date.

This was an amazing feat. Thank you, Patrick, and your incredible team, for your persistence and hard work!

PS he was a great listener”

“Giles was an amazing mortgage provider for my son. He was prompt and head strong to get what he needed to get done. I highly recommend them if you have any needs for a mortgage provider. Thank you very much for taking care of my son.”