best rate: Say Goodbye to the 3% Down Fannie Mae Products - HomePath Included - 11/13/13 02:00 AM
When Fannie Mae updates its Seller's Guide Friday it is reducing its maximum loan to value on all of its products including the popular HomePath loan.
If you have clients looking at  any of the Fannie Mae 3% down options they must apply, register, and lock their loans prior to Friday.
Fannie is reducing the maximum loan to value to 95% - and any Mortgage Insurance Premiums are included in that 95%.   
There are no changes to FHA (3.5% Down), USDA and VA (Zero Down).
 
Tony Marra is a Senior Mortgage Banker with Bay to Bay Lending and can … (0 comments)

best rate: Buyer Has a Short Sale - How Long Until They Qualify?? - 11/04/13 01:31 AM
A very high percentage of Florida homeowners short sold a home in the past 5 years.
A common question I often get is ....how far removed from a short sale does someone have to be in order to quaify for home financing???
Here are some guidelines that can hopfully help buyer's agents qualify their buyers.
Conventional - 2 Years if you are putting 20% down - 4 Years between 80% and 90% Loan to Value, and 7 Years above 90% loan to value - or less than 10% dowm
FHA - 3 Years removed
USDA - 3 years removed
VA - 2 Years … (0 comments)

best rate: Going FHA 203(K) - Make Sure Your Lender Can Do the Job - 11/02/13 05:00 AM
If you are like some of my prefered agents, you have a stack of pre-qualification letters for clients that you simply cannot find a home for.  If your market is like the Central Florida Market, move in ready homes in the sweet spot middle class price range often wind up in bidding wars, on the market for only hours, not days, and not much else other than homes in need of work.   
Hopefully this blog helps you understand the FHA 203(K) Streamline Rehab Loan.   The first thing you need to ask yourself as a realtor - prior to going out and showing … (3 comments)

best rate: VA NO MONEY DOWN HOME LOAN - NO PMI FLORIDA - 11/02/13 04:02 AM
VA loans are often made without any downpayment at all. Aside from the veteran's certificate of eligibility and the fact that the appraiser is assigned by VA, the application process is not much different than any other type of mortgage 
Bay to Bay Lending is approved for automatic processing and a buyer's loan can be processed and closed by the lender without waiting for VA's mortgage approval of the credit application or for VA to review the appraisal. Bay to Bay Lending is able to use VA recognized automated underwriting systems, such as Loan Prospector and Desktop Underwriter, to facilitate the underwriting process.
FIVE EASY STEPS … (1 comments)

best rate: USDA is Funded, and Up & Running - No Money Down - Low MI - 11/02/13 03:56 AM
Owning a home is simple with the USDA Loan Program. If you think it is out-of-reach for you and your family, you might be thinking wrong!  Tony Marra, an Mortgage Banker for Bay to Bay Lending in Tampa, Florida explains the USDA program in this article.   The guarantee provided by the USDA helps low and moderate income families with little money for a down payment achieves home ownership.
To be eligible, applicants must: 
1. Have dependable income that is adequate for the repayment of the loan. This income should be verifiable and continuing for at least 24 months.
2. Be a U.S. citizen, currently reside in … (0 comments)

best rate: Jumbo 90% - NO Mortgage Insurance - Florida - 10/30/13 02:31 AM
If you are seeking a home purchase in Florida above the $417,000 conforming guideline and do not have the required 20% down payment feel free to contact me regarding the best new loan product in Florida for homebuyers up to the $825,000 price range. This product is one loan, up to 90% LTV with No PMI
 
 Loan Requirements for the Jumbo Loan to 90% Loan to value with No PMI are:
1. 720 or Higher Fico Score
2. No Foreclosure, Short Sale or Bankruptcy in the Last 7 Years
3. Debt to Income Ratios of 41% or Less
4. No … (0 comments)

best rate: USDA IS BACK AND RUNNING - NO MONEY DOWN AND FINANCE CLOSING COSTS - 10/29/13 02:49 AM
Owning a home is simple with the USDA Loan Program. If you think it is out-of-reach for you and your family, you might be thinking wrong!  Tony Marra, an Mortgage Banker for Bay to Bay Lending in Tampa, Florida explains the USDA program in this article.   The guarantee provided by the USDA helps low and moderate income families with little money for a down payment achieves home ownership.
To be eligible, applicants must: 
1. Have dependable income that is adequate for the repayment of the loan. This income should be verifiable and continuing for at least 24 months.
2. Be a U.S. citizen, currently reside … (0 comments)

best rate: What if My Buyer Has A Short Sale??? - 10/28/13 02:06 AM
A very high percentage of Florida homeowners short sold a home in the past 5 years.
A common question I often get is ....how far removed from a short sale does someone have to be in order to quaify for home financing???
Here are some guidelines that can hopfully help buyer's agents qualify their buyers.
Conventional - 2 Years if you are putting 20% down - 4 Years between 80% and 90% Loan to Value, and 7 Years above 90% loan to value - or less than 10% dowm
FHA - 3 Years removed
USDA - 3 years removed
VA - 2 Years … (0 comments)

best rate: It Could Get Ugly - Encourage your clients to lock now and not gamble - 10/07/13 03:48 AM
What can you say other than simply shake your head.  Here we are, not only dealing with a government impasse that has the lights shut off, but now Washington wants to flirt with how we pay for it all.
Just to ensure everyone is clear - the budget crisis and the debt ceiling are not related.  The budget crisis is over what we will spend, the debt cieling is how it gets paid for.  The debt ceiling issue carries far more ramificaitons to it not only to our economy, but our credit rating, and foreign relations - China owed $1.28 Billion … (1 comments)

 
Tony Marra, Tony Marra (Bay to Bay Lending, LLC)

Tony Marra

Tony Marra

Tampa, FL

More about me…

Bay to Bay Lending, LLC

Address: 501 S Dakota Ave, Suite 2, Tampa, FL, 33606

Office: (813) 549-8737

Mobile: (813) 842-7999

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