Florida Mortgage Broker

You've probably seen the headlines. Congress passed a massive bipartisan housing bill, and as of July 11 it's officially law. Politicians on both sides are calling it the biggest housing legislation since 1990. So does this mean houses get cheaper? Does it help you buy in Cape Coral or Fort Myers this year? I read the bill. Real talk: there's some good stuff in here, but almost none of it touches your next purchase. Here's the honest breakdown. The New Housing Law at a Glance WHAT IT DOES ✓ Blocks mega-investors (350+    homes) from buying more ✓ Cuts red tape for builders ✓ Opens the door to cheaper    manufactured homes ✓ Boosts apartment construction    financing ✓ Rewards cities that build WHAT IT DOESN'T DO ✗ No new down payment    assistance money ✗ Doesn't touch mortgage rates ✗ Nothing on homeowners    insurance ✗ No power over local zoning ✗ No change to your monthly    payment What the Ne...

  Mike Steele Loans • SW Florida Mortgage Broker Non-QM Loans in SW Florida: How to Buy a Home When the Bank Says No Here's the deal. Every week I talk to buyers in Cape Coral, Fort Myers, and Naples who make good money but got turned down by their bank. Contractors. Charter captains. Realtors. Restaurant owners. People with real income that just doesn't show up neatly on a W-2. If that's you, this post is going to change how you think about buying a home. We're talking about non-QM loans. I'll explain what they are in plain English, who they help, and what the catch is. What Is a Non-QM Loan? (The Simple Version) QM stands for "qualified mortgage." That's a loan that follows a strict set of federal rules about how lenders check your income. Think of it like the standard entrance exam for a mortgage. Pay stubs, W-2s, tax returns. Check every box and you're in. A non-QM loan is any mortgage that doesn't follow that exact recipe. It's not a s...

Here's something most buyers never figure out: a mortgage broker and a big bank can put you in the exact same loan. Same money. Same rules. But the price you pay can be hundreds of dollars a month apart. Why? It comes down to how each one is built, and who pays for all the stuff you see on TV. I'm a mortgage broker here in SW Florida, and I shop rates across a bunch of wholesale lenders so you don't have to call ten banks yourself. In this post I'll break down the real difference between a broker like me and a big retail lender, in plain English. No jargon. By the end you'll know exactly what to ask before you sign anything. First, who's who in the mortgage world Big bank Lends its own money. One rate sheet. One set of rules. Take it or leave it. Big retail mortgage company The names you see on stadiums and TV ads. Still one company, still their own pricing. Online lender No branches, but huge ad budgets. Still only sells you their one rate. Mortgage broker (me)...

  Mike Steele Loans I Shop Rates So You Don't Have To Looking for a Mortgage Broker in SW Florida? Here's Why Buyers Pick Me Mike Steele · SW Florida Mortgage Broker · NMLS #241787 If you're buying a home in Cape Coral, Fort Myers, or Naples, you've probably already noticed something: every lender says they've got the best rate. Your bank says it. The online guys say it. The billboard on Del Prado says it. So how are you supposed to know who's actually telling the truth? Here's the deal. I'm a mortgage broker, not a bank. That one difference changes everything about what you pay and how you're treated. Let me show you exactly what that means for your wallet, and why so many SW Florida buyers end up working with me. ✦✦✦ Broker vs. Bank: Why the Same Loan Costs You Less With Me We all sell the same money. Same VA, FHA, and conventional loans, backed by the same government programs and the same investors. The difference isn't the loan. It's what...

  Is Now a Good Time to Buy a Home in SW Florida? Here's My Honest Take. Spoiler: I'm a mortgage broker, so you might expect me to always say "yes, buy now!" But that's not actually how I operate. Let me give you the real picture. The honest answer is: it depends on YOU more than the market. Interest rates are higher than they were in 2020–2021 — that's just the reality. But here's the thing about waiting for rates to drop: everyone else is waiting too. The second rates come down significantly, more buyers flood the market, prices go up, and the competitive advantage disappears. It's a trade-off, not a guarantee. What's actually happening in SW Florida right now? The Cape Coral and Fort Myers area has been one of the fastest-growing real estate markets in the country over the past several years. Population growth here is real and ongoing — people are still moving to SW Florida in big numbers, which keeps a floor under home values. That said, ...

  VantageScore Mortgages: The New Credit Score That Could Help You Buy a Home in SW Florida If you've ever been told no on a mortgage because of your credit score, real talk: that no might not be a no anymore. The mortgage industry just opened up a second credit score that runs alongside the FICO score you've been measured against your entire adult life. It's called VantageScore. And for a lot of buyers in Cape Coral, Fort Myers, and Naples, it changes the math. Here's what it is, why it matters, and how to find out where you stand. What is VantageScore? VantageScore is a credit scoring model created by the three big credit bureaus (Equifax, Experian, and TransUnion). It's been around for years on the consumer side. What's new is that lenders are now accepting VantageScore 4.0 for actual mortgage qualification. I'm already running it for Conventional loans and VA loans. FHA is on the way. Think of it like this. You used to take one test (FICO) to qualify for...