Ft. Lauderdale, Florida - Marimark Mortgage, which serves all of Florida, is a FHA and VA approved broker. Due to changes in lending rules, the broker wants to make sure that all residential homebuyers are aware of the new rules impacting the market and loan processing.

According to a January 17 Fox Business news report, homebuyers can expect a more competitive market in 2013, and therefore “should start the mortgage lending process at least three months before they plan to start seriously looking because experts expect the process to take several months under new lending standards”. House hunters should be ready to deal right away with a pre-approved status as home inventory is expected to remain at low levels throughout the year.

The report mentions “home sellers are shifting into the driver’s seat with experts expecting bidding wars to break out in certain markets due to the low inventory. While homes will sell quicker this year, they still have to be priced right”.

Another factor that borrowers need to be aware is that The Consumer Financial Protection Bureau has issued new qualified mortgage standards that detail criteria lenders must now use to determine if a borrower qualifies for a loan. The old rules that got many borrowers in trouble in the past have been eliminated from market offerings.

The Fox News Report states, “that a qualified mortgage cannot include risky features such as extending beyond 30 years or include exotic terms like interest-only payments or negative-amortization payments, where the principal amount increases.

Loans can’t carry fees and points above 3% of the total mortgage and limits the total debt-to-income ratio at 43%”. As a result of these changes, some industry experts worry that lenders will restrict credit and may discourage homebuyers at the lower-end of the income scale from seeking a mortgage.

All of this may seem confusing to mortgage seekers, so contacting Marimark Mortgage is a good way to understand the do’s and don’t of the new florida mortgage loans . Marimark Mortgage will provide their best efforts at getting buyers approved.

Here is what one client said about Marimark.
"Once again, we wanted to thank you for your help with getting us the mortgage. Your patience and follow through was well appreciated! We will be sure to pass on your information to anyone who may be interested in a loan as you were a great help." — Liz and Rich, Ft. Lauderdale, Florida

To learn more about the new home loan financing rules, please click on this link now: www.marimarkmortgage.com


Marimark provides a competitive Florida rate quote as well as a good faith estimate. There are never any obligations, or upfront fees prior to acceptance and during the pre-approval process. The company maintains relationships with several National lenders, which they do business with daily. Because of their considerable experience with lenders, they can offer the best rates for the loan products that buyers are seeking. Marimark guarantees that buyers receive open and honest advice from their loan advisors from start to finish.

Mary Catchur
Marimark Mortgage LLC.
5327 Primrose Lake Circle
Tampa, FL 33647-1328