Spring Hill Florida Mortgage Rates Might Rise A Little, But What’s It Mean?



Will Home Values Fall if Spring Hill FL Mortgage Rates Rise A Little Further?



Right now, mortgage rates in Spring Hill FL (as in the rest of the nation) are higher than they’ve been for 15 months—a trend that’s likely to continue. We have to wonder about the impact higher Spring Hill Florida mortgage rates will have on Hernando county home sales in the coming year.


First, some perspective. If mortgage rates do increase in 2014, it’s no ‘done deal’ that home buyers will be put off—nor that a wave of foreclosures will follow. The reason? By past standards, interest rates will still be low, even at the 5½% predicted by the N.A.R. Any hike in mortgage interest rates are coming off the historical 3.52% set in the spring of 2013. Consider: most of us were paying mortgage rates between 7 – 8% throughout the 1990’s! 5½% looks like a fire sale compared with those.


Factor Two: surprisingly, a projected rise in interest rates is not predicted to dampen the enthusiasm for acquiring property. The Mortgage Bankers Association predicts that home sales will increase nationally by 10% in 2014. I have no doubt that some Spring Hill first time homebuyers could be waylaid by rising interest rates—after all, a 1% increase in mortgage rates equates to approximately a 10% rise in monthly payments. But overall, buyers who can meet the current lending standards should still be able to afford to own. Given the cost of the renting alternative, they may decide they can’t afford to pass up the right house at the right price.


Additionally, there is a strong argument that the principal effect of rising interest rates is less likely to be on Spring Hill Florida home sales than on refis. The Mortgage Bankers Association predicts that refinancing demand will drop by half in 2014 (when you chart that kind of number, it looks like a cliff!). Many homeowners will already have locked in last year’s interest, so they certainly won’t be interested.


Any drying up of the refinancing business may have yet another effect. There could be a follow-on effect as lenders start loosening their lending criteria to attract new business. First time buyers that have been locked out of the market until then may (we are now two after-effects later, so this has to be a ‘may’) find themselves suddenly eligible for a home loan.

Given the healthier economy and falling unemployment, the outlook for the Spring Hill Florida housing market in 2014 has reason to look positive.

Thinking of buying a home in Hernando County and want to shop the best mortgage companies in Spring Hill FL? Now’s the time to call me to discuss timing!


Steve Fingerman


E Loans Mortgage Inc

4117 Mariner Blvd.

Spring Hill FL, 34609

NMLS# 856640


Office 352-688-7949

Cell 727-946-0904


Hernando County Real Estate: Creating Listings That Go Beyond Simple Descriptions

Creative Writing Sparks Hernando County Listings


Listing Language Can Trigger a Quick Sale

Hernando County Homes For Sale

Your Hernando County home is in perfect shape – all set to go on the market. You’ve enlisted an experienced real estate agent with a solid track record.

Now all that’s left is…what?

What’s that next step?

In fact, the next step can be all-important: creating a Hernando County listing that does more than just describe the number of beds and baths. It has to stand out among all the competing listings that will be seen alongside it. That Hernando County listing is the keystone of the marketing campaign that will ultimately fetch a new owner: its job is to get buyers and agents to take a closer look. To get that job done, it has to be special!



When I sit down to work up an effective listing, I try to pay attention to what creative writers from other forms of advertising advise: first discover what is unique, appealing, attention-getting, then present it with language that captures readers’ imaginations. Formulas are out, since following a set group of mechanical rules can only produce a dull, repetitious result. Even so, there are some useful tips that can help spark an effective listing:



* Keep the context in mind. The job of any Hernando County listing is to communicate many essential details in a limited amount of space – but there will be photographic information there, too. Highlight features that can’t be told through either its photos or specifications. For example, if a house offers a spectacular view of the sunset from its veranda, the listing should highlight it. Grandeur can be told nowhere else.



* Listing language should be upbeat and tailored to sell, while at the same time, filled with accurate and useful information. It’s a balancing act, and going overboard in either direction can be off-putting. Specific details help bring in readers and build believability (high quality brand names like Sub-Zero or Wolf are good examples). Details build credibility that bolsters less concrete descriptions. I leave out unsupportable claims altogether. It can be tempting to fall in love with flowery language that sails off into its own reality — but accurate information builds trust for the lead-up to a sale.



* Setting the right tone is another important factor. It’s another balancing act. Listings should be upbeat without exaggeration…accommodating without sounding desperate. The right tone can help bring in prospects, just as the wrong one will drive them off or raise suspicions that something is wrong.


A successful Hernando Countyagent has demonstrated the knowhow and experience to bring these and other elements together to produce powerful, effective home listings. If you are considering selling your own home in the Manatee County or Sarasota County areas, I hope you will give me a call so we can create a dynamic marketing plan to sell your property!



Applying For A Mortgage In Spring Hill? What You need To Know About Credit

There are so many myths about credit and understanding how credit and credit scores work that I thought I would put together a detailed guide to help everyone better understand Credit Scoring from the basics to the finite details. Because there’s so much information I’m going to break it down into a multi-part post. So please check back for another 4 parts to this guide. If you find the information useful please forward to your friends!

Credit Basics: Credit Scores and Credit History

Brought to you by:
Steve Fingerman
Branch Manager
Hernando County Mortgage Lender Corporation
Office 352-688-7949
Cell 727-946-0904

The All About Credit Guide is designed to provide information so that you can understand and manage your credit. This guide will be sent to you in topical sections via email over the next several days. I am sure that you will benefit from requesting this guide. You may want to print these guides for future reference.

Your credit is one of the key factors in your ability to obtain home financing. When You start searching for Property In Manatee County you should also start by understanding and knowing how credit works. This way you can get pre-approved for your mortgage in Manatee County and be You may have heard many companies talk about credit, about how important it is and how you need to know what is on your credit report. They are absolutely right. Your credit not only determines whether you qualify for a home loan, it also determines costs such as interest rate on credit cards, premiums on auto insurance, and in fact it can be used to screen your employment. You credit is definitely important. Getting the best mortgage in Manatee County is going to be in large part based on your credit history.

Credit is made up of several components all of which become part of your credit report.

  • Applications for credit
  • Number of open accounts credit accounts and account age (credit cards and loans)
  • Accounts Balances
  • Payment history (on-time or late)
  • Collections, foreclosures, repossessions
  • Bankruptcies, liens and other public records
  • Past addresses, employers and names
  • Your calculated credit score (FICO score)

Your credit score (commonly called a FICO score by many) is the most commonly used key indicator of your credit worthiness. Many creditors rely on the credit score since it closely measures the risk that a prospective borrower presents. The lower the credit score the more likely the borrower will default or be late on their payments. Credit scores range from a low of 350 to a high of 850. The average consumer has a credit score in the 680 range. Here is a quick scale of credit scores and how they are rated.

750 and up








619 and below


A person that has a credit score below 620 will have a difficult time obtaining a mortgage loan. (There used to be a category of loans called Subprime but given the high risk and abuse that program is all but gone today). A credit score between 620 and 659 may need to select a government sponsored program to qualify. If the credit score is between 660-719 most loan programs become available. But at 720 and above the best interest rates and terms are available to those Borrowers.
Each of the three major credit bureaus will assign a credit score. When it comes to mortgage lending in Manatee County as well as just about anywhere in the country, all three credit scores are used in the evaluation of credit with the middle score of the three being the determining factor. For example if a prospective borrower had scores of 719, 728 and 721, the 721 would be the determining score (the middle one). One other important factor to remember is that if you have a co-borrower (e.g. spouse) that the lower of your and all co-borrowers middle credit score will be the score used for loan qualification.

Of the various components that affect your credit score the one that has the most impact is payment history (making on-time payments). That is followed by your credit balances (how much you owe), and how long you have had established credit. The chart to the right shows the importance of each of these factors. However, it should be noted that if a person has a recent bankruptcy, foreclosure, or collection account, those kinds of situations will cause the credit score to drop sharply.
It is important that you review your credit report on a periodic basis. Often individuals find that there are errors and inaccuracies that are causing their credit report to look worse that it really should be. Sometimes credit entries are posted to the wrong account. You may also find collection accounts for medical bill that you thought your insurance had covered. There are some estimates that over 40% of all credit reports have one or more errors on them. But if you don’t look at your credit report, you would not know that they were there.
You can obtain your free credit report from http://annualcreditreport.com/. This website is sponsored by the big three credit bureaus: TransUnion, Experian and EquiFax. Do not go to other credit advertising websites such as FreeCreditReport.com unless you wish to buy additional services. On those websites you may be lulled into a free credit report but in order to receive it you have to sign up for a trial subscription to a service. You are allowed one free report from each of the major credit bureaus each year (up to 3 free reports). Given that it may be a good strategy to obtain a credit report from each credit bureau four (4) months apart and that way you are able to look at the report multiple times each year at no cost to you.
If you do find problems with your credit report, first contact the creditor (card issuer or loan holder) that the problem lies with. If you cannot get a satisfactory resolution with the creditor then contact each of the credit bureaus that shows the reported credit item in question and conduct a formal dispute by writing letters to the credit bureaus stating what the issue(s) is and requesting correction(s) to the credit report. The credit bureaus are pretty helpful when it comes to clearing up issues such as these. You have the right to an accurate credit report under the Fair and Accurate Credit Reporting Act. Anytime you get a positive response from the creditor be sure to ask for the confirmation of correction or removal in writing and keep that document for future reference.

For More Information About Real Estate In Florida and Homes For Sale In Spring Hill Please visit http://www.buybradenton.com/