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Sarasota Branch

In the Sarasota area, you can enjoy the breathtaking sunsets, educational museums, operas, ballets, plays, golf tournaments, and boat races. You can join in tennis, lawn bowling, water skiing, shell collecting, bird watching, growing exotic tropical plants, university classes, golf, or boating.sarasota bayfront

Quality service is available from knowledgeable physicians, bankers, lawyers, investment brokers, lenders and insurance agents, who can help answer your questions about living and conducting business in Florida.

Sarasota, together with its neighbors to the north and south, Manatee County and Charlotte County, form the 7th-largest market in Florida. It is also Florida’s third-fastest growing major market. With over 600,000 people, the Sarasota area is one of the largest, most affluent markets in Florida. In the last 5 years, it has grown 4 times faster than the national average. The per capita retail sales are almost 20% above the national average. It has a strong base of retirement age people, about a third of the population, but the fastest-growing segment of the market is middle-aged adults and their children. It has approximately 1/4 the population of the Tampa/St. Petersburg area.

Sarasota boasts some of the oldest and newest homes in the area. Some homes were built over 50 years ago as winter vacation cottages. Others are new gated Bayfront estates with manicured grounds, marble foyers, soaring ceilings, the newest fixtures and technological advances, and spectacular views.sarasota manson

Residents from any neighborhood can enjoy the wide range of activities available throughout Sarasota. Whether your taste in art leans more toward circus posters, Rubens and Poussin, seashell creations, sand sculptures, or the new art of the Ringling School of Art students, it’s here.


We Hire the Best

Do You Have What it Takes?

Land Home Financial Services, Inc has been helping individuals, couples and families get pre-approved for a home mortgage, offering the “right” mortgage for their situation and expediting the mortgage process as efficient as possible. We deliver from “pre-approval to close” with unmatched service by providing the right product and “Hiring the Best” in the industry! Our Loan Originators and Support Staff are focused on getting the mortgage closed properly as quick as possible!

Work for Land Home Financial Florida

LinkedIn_Recruiting_invest   And Here’s Why:

  • We service our own loans & bonus our LO’s year over year from the servicing
  • Company paid assistances to support each branch
  • Coaching & Training available for experienced Originators
  • We have our own Appraisal Desk – no AMC
  • Little to no Over-Lays (we go by AUS)
  • Originators can submit TBD files for Underwriting
  • LO’s submits directly to Underwriter to expedite Loan Commitments
  • We support our Originators offering DPA Loans
  • Our Underwriters actually call you to avoid suspending a file
  • Our processors chase conditions, not our Originators

 

If you live in Florida, have originated a minimum of 24 loans or more for at least 2 years – then WE Need to Talk!

Contact me ANYTIME including after hours or weekends!

 

Vincent Ortiz, Loan Officer

Direct 407.625.9093 Land Home Financial Loan Officer

Vincent.Ortiz@lhfs.com

 


Welcome to Land Home Financial

Your Preferred Direct Community Lender

Since 1988, Land Home Financial has been serving communities nationwide with honesty, expertise, and a personal touch.

We provide diversified funding options and consistent, superior, personalized service to our clients and partners, including: homebuyers, mortgage brokers, builders, manufactured and modular home retailers, and real estate agents.

Get Qualified with Land Home Financial

Have a look at a just a few of the reasons that more and more Americans are choosing Land Home Financial Services:

Land Home Financial - Get Qualified

Whether you are looking to purchase a home, refinance your current mortgage, or get a reverse mortgage, our expert Loan Originators here at Land Home Financial can walk you through the process in-person or over the phone.

Success comes from Great People

Our goal is to create and maintain an environment where employees can contribute creative ideas, seek challenges, assume leadership roles, and continue to focus on meeting and exceeding both business and personal objectives. To grow, we find it essential to provide each associate on-the-job development, supplemented with suitable training as necessary.


6 Tips for Hosting Thanksgiving

Host Like a Champ!

FB_Thanksgiving_leaves_2018Whether it is your first time hosting or you are a Turkey-serving veteran, Land Home Sarasota realizes hosting a Thanksgiving dinner can be a lot of work. However, if you keep organized, hosting Thanksgiving in your home can be a wonderful experience, full of happy memories.

1. Never turn down help.

Land Home can help you with home buyingThe beauty of Thanksgiving is friends and family coming together. There is no reason for you to be in the kitchen by yourself! Divide and conquer. Don’t be afraid to delegate those side dishes. It will make the day all the more memorable having everyone be a part of the process.

2. Prep!

Avoid those “When will the food be ready?” questions by planning your menu ahead of time. There may even be a few dishes you could make the night before. If not, look for ways to cut down on prep time early like peeling the potatoes, chopping the vegetables, or toasting the nuts.

And don’t forget the place settings! You can also prep the non-food tasks beforehand. Set your table the night before to eliminate one more task the day of.

3. Stick to what works.

Land Home First Time home buyer helpThanksgiving is all about the classics so it may not be the best time to experiment with a new recipe. If you want to spice up the menu, try a practice round a week or two before to work out the kinks.

4. Don’t stress over appetizers.

Fancy appetizers can be overkill—you don’t want your guests getting full before dinner!  Some crudités or store-bought cheese and crackers are perfect for your guests to nibble on before the main event.

5. Store bought is okay!

Making everything from scratch is a wonderful gesture but it is usually too much work for one person. If you haven’t delegated a few things to some guests, don’t be afraid to buy freshly baked rolls or a pie from your favorite bakery.

6. Enjoy the company of your family and friends!

Land Home Financial Helping families celebrateAt the end of the day, Thanksgiving is about being thankful. Be sure to take a moment to relax and enjoy sharing a meal with those you love. Down the road, your guests will remember the laughs and the stories much more than they will remember the meal.

We hope that our tips on hosting a memorable Thanksgiving in your home have helped you, Happy Thanksgiving from all of us here at Land Home Financial Services, Inc.


Your Preferred Community Lender

The Heart of a Community Based Lender

Core Values & Mission

The heartbeat of Land Home Financial is promote and live by a community-based philosophy with our external customers and our internal community. We’re committed to servicing our customers by providing home loan options that best fit their needs. Behind every loan is a person, a family, and a home within a community, which is why we all work so hard for those seeking real estate financing. Each customer is a member of the Land Home community.

Land Home Financial

When the transaction funds, the relationship continues because we retain almost 100% of our servicing. Land Home Financial is also committed to servicing its community of employees. Looking for ways to make our company excel is always a priority. Exceptional, stronger resources and new helpful tools are always on the agenda as Land Home Financial pursues ways to rise above competition. Suggestions and feedback provided by Land Home Financial employees is valued and helps in shaping the course for change when there is a benefit for all.

Plans for the Future

Maintaining a sustainable business plan for growth is always a main priority. Where many mortgage companies may retract their expansion goals or stop them altogether, Land Home Financial has positioned itself to stay on the course for opening branches in more markets across the country. Not only does the business plan contain new office expansion, but new division expansion as well. Doubling the footprint of the Land Home Financial brand nationally is a goal we plan to achieve. Land Home reinvests in the company, raising the quality of all facets of the enterprise to attract Loan Officers and Operational staff to help Land Home become an even stronger entity.

Land Home Invests in PeopleHaving been in the business for over 30 years has taught Land Home’s leadership how to be strategic in making business decisions that support the company business plan. Two key components that make Land Home a great place to join: Our company is fiscally secure, and our employee community is loyal and shares the same vision to accomplish goals together.

Who is Land Home Financial

Land Home is a privately-owned mortgage banker, opened in 1988. The leadership, together with employees (not a room full of shareholders), make the important lending decisions at Land Home. Our business decisions are rooted in common sense, experience, and knowledge. At Land Home we have a dedicated compliance team to offer guidance in the choices we make. We are a company that invests capital to fuel growth (rather than generate profit divided among a few).

Our customers and our employees are our greatest assets. Our common goal is to do what is in the best interest for every customer we have the opportunity to serve.

 


9 Tips to Get Money for Down Payment

Get Money for a Down Payment

Whether you’re purchasing an existing home, building a new home or planning to fix up an older home, you’re probably excited about the prospect of closing the deal and moving in.

Not so fast. Buying a home is an expensive proposition – the biggest investment that most families ever make. While you aren’t required to cover the entire purchase price up front, you do need most times to come up with a down payment before you can close on your home.

The Biggest Closing Cost of All

money-down-payment-calculator

 

Most line items are small change compared with probably the biggest closing expense of all: your down payment. This is because your down payment is a key part of the offer you present to the seller. The general rule of thumb is simple: the larger the down payment, the stronger the offer. More precisely: the greater the down payment’s share of the total purchase price, the more likely the seller is to accept.

 

 

 

Tips and Tricks to Save

1. Determine Your Expected Down Payment and Timeframe

First, figure out about how big your down payment will be.

Down payment size is a function of three overlapping factors: your desired initial loan-to-value (LTV) ratio, your time horizon (when you want to buy), and local housing market conditions. When people talk about budgeting for a future home purchase, they generally refer to list prices: “We’re willing to pay $300,000,” or “We can afford $250,000, but no more.”

However, on the matter of affordability, the most important number is the down payment amount. If you can’t cobble together a $50,000 down payment on a $250,000 house (or a $400,000 house, if you’re putting down less than 20%), then you can’t really afford the house.

Lastly, don’t completely deplete your bank account to buy your dream home. It’s wise to have at least three months’ income in liquid savings as an emergency fund, regardless of your near- or long-term goals. Six months is even better.

2. Shrink Your Required Down Payment With a Special Loan

If you’re looking to buy on an accelerated timetable, live in an expensive housing market, or doubt your ability to save for a 20% down payment on an acceptable house in your target neighborhood, look into special loan programs with lower down payment requirements.

Beyond program-specific requirements, these special loans have some important drawbacks. Perhaps most importantly, they carry Private Mortgage Insurance (PMI) premiums until LTV reaches 78% (though you can formally request PMI removal at 80% LTV).

3. Take Advantage of LHFS Down Payment Assistance Programs

Relatively few prospective homeowners realize that they could qualify for national down payment assistance programs that can reduce their out-of-pocket down payment costs by thousands of dollars.

4. Pay Off Outstanding Credit Card Debt

For many folks, paying off credit card debt is a high-priority goal. Even the low APR Credit Cards usually charge interest rates north of 10% APR. On an average balance of $1,000, that’s $100 in interest charges each year. If your debt load is higher, adjust accordingly.

Paying off credit card debt isn’t always straightforward, though. Focus on your highest-interest debt first, even if that means putting as little as $25 or $50 extra toward your payment each month. As your high-interest debt load shrinks, you can move onto lower-interest credit card debt, and you’ll likely accelerate your progress toward a $0 balance. With lower (or no) interest charges eating into your spending and saving power, you can then direct your dollars toward your down payment fund.

5. Set Aside a Portion of Your Tax Refund

Expecting a tax refund this year? Reserve a slice of it to reward yourself for all your hard work last year – a nice restaurant meal, a frugal weekend getaway, a new piece of furniture for your home. Enjoy it.

Then sock the rest of your refund away in your down payment fund. If you reliably receive a $3,000 refund, spend $1,000, and save the rest, you’ll have $6,000 after three years, and $10,000 after five. That probably won’t account for your entire down payment, but it can’t hurt.

6. Make Recurring Savings Deposits

Knowing you need to set money aside each month is one thing. Actually doing it is another. Set yourself a calendar reminder on the same day each month or pay period to transfer a set amount of money – at least 5% of your take-home pay, and ideally 10% – into your primary savings account. You can then separate the share allotted to your down payment from your general savings or other savings goals. Or, better yet, create a separate savings account whose sole purpose is to hold your down payment funds.

7. Automate Your Savings Deposits

What’s even better than recurring savings account deposits? Automated savings account deposits that you don’t have to remember to execute each month. Most banks allow recurring savings transfers from internal or external checking accounts. Examine your budget and determine how much you can afford to save each pay period or month, and then make it happen, preferably on the same date (or the day after) you receive your paycheck or direct deposit.

8. Withdraw from Your IRA Without Penalty

Under certain conditions, your retirement account can serve as a supplemental funding source for your down payment.

This isn’t free money, of course. If you have a traditional IRA, you need to pay taxes on the withdrawn amount at your overall rate – 28% in the 28% bracket, and so on. On a Roth IRA held for longer than five years, your withdrawal is tax-free, because you’ve already paid taxes on the contribution.

If you and your spouse both have IRAs, you can both withdraw up to $10,000, for a total of $20,000. Depending on the projected size of your down payment, that could be a sizable boost. And, on Roth IRAs held longer than five years, you can withdraw tax- and penalty-free contributions in excess of $10,000, though any withdrawn earnings are taxable at your normal rate.

However, you also have to consider the opportunity cost of taking that money out of your account, potentially for years (by the time you make additional contributions to cover your withdrawal).

9. Take a 401k Loan

You can also borrow from employer-sponsored 401k or fund your down payment. On 401k loans, borrowing limits are much more generous: You can borrow up to the lesser of $50,000 or half the value of the account. That’s enough to fund a 20% down payment on a $250,000 house, or a 10% down payment on a $500,000 house.

However, the devil is in the details. You have to pay back your 401k loans, with interest – typically at 2% above the prime rate. On larger loans, that means several years’ worth of three-figure monthly payments and several thousand in interest charges. Plus, if you take out a 401k loan before applying for a mortgage loan, your credit utilization ratio will spike, which could raise your mortgage loan’s interest rate or cause the bank to think twice about lending to you in the first place.

As a general rule of thumb, 401k loans are useful in two situations: for funding small down payments ($5,000 or less) in their entirety or as the last piece of a multi-year, multi-source down payment funding strategy.

Final Word

Your house might be the single biggest purchase you ever make, but it won’t be the only big-ticket item you ever buy. Unless you can comfortably live without a car, you’re likely to buy a used vehicle every few years. If you have kids, you’ll need to budget for their education. Once you’re ensconced in your home, you’ll probably want to make sensible improvements that enhance its value or accommodate your growing family. And, all the while, you need to have enough set aside for the unexpected.

Every one of these items, and many others not mentioned here, demand a measured, thought-out savings strategy. As you notch small victories in your quest to cobble together a down payment for your dream home, don’t neglect your other goals – whether you’re aiming to reach them next month, next year, or next decade.


The Power Purchase Program

The Power to Purchase

Power Purchase Program:

Power Purchase owning a home

 

LHFS is launching our personalized Power Purchase Program that is competitively priced conventional loan program that requires only a 1% down payment from the homebuyer. Combined with a 2 % Power Purchase grant, the 3% combined equity results with a 97% eligible conforming loan. This program is available for both 1st time homebuyers and repeat homeowner buyers on their primary residence. Refinance transactions are not eligible.

 

First mortgage must meet FHLMC Home Possible Advantage eligibility. Effective 10.01.2017 the 2% Grant funds will be provided by a Non-Profit agency vs. the LHFS Funding It Forward. To be aware of: Conforming loan amounts only, no manual underwriting allowed, manufactured Housing is not allowed, additional subordinate financing not allowed, LTV 97.00%/CLTV 97.00% only, 100% AMI Income Limit Cap and a benefit of having Mortgage Insurance that is lower than 25% coverage cost vs. standard 30% on a 97% LTV!

Power Purchase Program Land Home Financial

* Score over 720 will have a lower MI factor vs. Government products
* Score 620-719, please refer to the MI quote for monthly factor

 

Power Purchase Program Manufactured Housing

modular-homes

LHFS is launching our personalized Power Purchase Program for Manufactured Housing that is competitively priced conventional loan program that requires only a 5% down payment from the homebuyer. Combined with a 2 % Power Purchase gift, the 5% combined equity results with a 95% eligible conforming loan. This program is available for both 1st time homebuyers and repeat homeowner buyers on their primary residence. Refinance transactions are not eligible.

 

 

 

Features:
• First mortgage must meet FHLMC Home Possible eligibility
• Conforming loan amounts only
• No Manual Underwriting allowed
• 3% minimum borrower cash investment requirement, Appraised value or Sales Price, whichever is lower
• 2% NHF 2% Grant contribution is in the form of a Grant, no repayment required
• Additional subordinate financing not allowed, LTV 95.00%/CLTV 95.00% only • 100% AMI Income Limit Cap

*Please note all percentages and statements are subject to change based on regulations that may arise. The use of hypothetical, predictive, and current statements, by Land Home Financial Services are meant to illustrate current operation standards.


We’ll Take the Loss for You

We Lost for You to Gain

Nonbanks lost money originating mortgages so far this year, as per-loan profitability plunged into negative territory for just the second time in a decade, the Mortgage Bankers Association (MBA) recently reported. Regardless, we are here to see you to get into your dream home!

Nonbanks reported a net loss of $118 per loan, down from a gain of $237 in the fourth quarter, the trade group said. The cause of this year’s loss was lower mortgage volumeLand Home Financial Home Loans

In the first quarter of 2018, falling volume drove net production profitability into the red for only the second time since the inception of our report in the third quarter of 2008,” said Marina Walsh, MBA’s vice president of industry analysis.

 

“While production revenues per loan actually increased in the first quarter, we also reached a study-high for total production expenses at $8,957 per loan, as volume dropped.”

Being a Direct Lender Allows us the Servicing

Walsh said the losses were somewhat offset by increased servicing revenue.

Overall production expenses rose into new record territory. Total expenses increased by $482 per loan over the quarter to $8,857 per loan. Production expenses per loan were $2,733 higher in the first quarter of this year than the long-run average expense of $6,224 going back to 2008, the trade group said.

Driven by a sharp drop in rate-term refinancing activity, MBA is forecasting that overall mortgage volume will end the year down this year, clocking in at around $1.6 trillion, which is down about 6 percent from 2017.

Mortgage Application Volume

On a positive hopeful note, home-purchase loan volume is anticipated to gain about 5 percent, to $1.17 trillion, according to MBA’s most recent forecast. Now is the time to buy, stop renting and allow Land Home Financial to assist you with the right product.


Homeownership Month is Here

June is Homeownership Month

Land Home Financial and its new homeowners are celebrating National Homeownership Month in June. And with good reason: New research shows a household’s primary residence is its largest asset and continues to provide an important building block for long-term financial security.

One Quarter of All Assets

The latest edition of the Survey of Consumer Finances, published by the Board of Governors of the Federal Reserve System, reports that the primary residence accounts for about one-quarter of all assets held by households in 2016, ahead of other financial assets, business interests and retirement accounts.

Land Home Financial Homeownership month in June“Homeownership is a primary source of net worth for many Americans, and is an important step in accumulating personal financial assets over the long term,” said Randy Noel, NAHB chairman and a custom home builder.

Land Home Financial Loan Officers and Realtor Partners have a great opportunity to promote the benefits of homeownership during National Homeownership Month. Let’s see as many as we can get into a new home. With our mortgage products, expertise and sincere care, we can do it!!

Owning a Home Stabilizes Families

To have a place called “home” is priceless in stabilizing the growth and security of each member of the family. When a parent knows that their kids are safe, happy and have a place of their own, then they can be all they can be to provide for their household. For a child to know that their home and life is stable enables them to be free to  grow, play and learn to be the best they can be and enjoy living.


5 Things to know about Single-Family Home Investing

Single-Family Home Investing

  1. Know your investing criteria first

With any investment, be it stocks, bonds or real estate, you need to know what your objectives are and it is no different with single-family home investing. If you’re focused on safety and security, consider exploring low-risk investment homes that generate steady, reliable yield. An example of this may be a more expensive investment property in a good school district. You’re going to get a lower yield, but you may see better downside protection and less volatility. If you have a longer-term horizon or you’re seeking higher returns, you may want to take on a little more risk. Often, lower-priced homes will be more risky, but you may get higher yields and potentially higher long-term returns.

  1. Don’t limit your investment property search to where you live

If your primary residence, income property, and job are all located in the same area, you have a lot of concentrated risk and are more vulnerable to the swings of the local economy. An online marketplace for buying and selling leased single-family rental homes, spread risk by investing in markets outside of where they live. (Hiring a local property manager or a “local community lender” like Land Home Financial is key here.)

Diversification is just one reason to expand your investment property search. You won’t be able to find a great income property for $100,000 in Seattle, Denver, or Oakland, Calif.; but you can if focus on the Midwest, South and Southeast, including Florida.

Land Home Financial Rental Investing

  1. Separate investing from operations

One of the appeals of investing in single-family rental homes is you can hire strong local property management firms to handle day-to-day management tasks of rent collection, repairs and maintenance, and leasing. Over the past several years, property managers have adopted new technologies and business processes to manage homes more effectively for owners.

While some people do choose to self-manage, hiring a property manager can save you a lot of time and potentially money in the long run. While property management companies typically charge between 7% and 8% of the rent, they manage properties for a living and can work to ensure the property is leased, in good condition, and the tenants are happy. Additionally, using a local property manager effectively allows you to buy properties outside of where you live, as self-managing is difficult if the property is not nearby.

  1. Real estate investing is a marathon, not a sprint

You might be familiar with the house-flipping reality TV shows in which a person buys a home, fixes it up, and sells quickly for a profit. While that can be an effective way to make a one-time profit, it’s the exact opposite of how you should approach single-family rental home investing, which is about building long-term wealth. Instead, treat it like a nest egg.

In addition, don’t be overly influenced or reactive to short-term fluctuations in your rental property portfolio. You may own a home for a few months and have to deal with a tenant moving out unexpectedly, but the next tenant might reside there for several years before you have another vacancy. Look at this investment over a multi-year horizon and consider your overall outlays and inflows over that long timespan. If you buy a decent house in a decent area, the returns tend to be quite attractive over time and can add a nice counterbalance to other types of investments.

  1. Take advantage of the tools and resources available to you

New developments in technology and data access are making real estate ownership more broadly accessible to the everyday investor.

Single-family rental homes currently is a $3 trillion industry, with 1 million homes trading hands among investors every year. The investment opportunities are ripe, and never has it been less complicated for investors to buy and own homes outside their geographic location.

*Whether you are buying or selling, Land Home Financial can assist. We have developed Partner Relationship all over Florida to accommodate our customers*


Builders Confidence Climbs to 70 in May

Builder Confidence in the Market

Builder confidence in the market for newly built single-family homes rose two points to 70 in May after a downwardly revised April reading on the NAHB/Wells Fargo Housing Market Index (HMI). This is the fourth time the HMI has reached 70 or higher this year.

“The solid May report shows that builders are buoyed by growing consumer demand for single-family homes,” said NAHB Chairman Randy Noel. “However, the record high cost of lumber is hurting builders’ bottom lines and making it more difficult to produce competitively priced houses for newcomers to the market.”

“Tight housing inventory, employment gains and demographic tailwinds should continue to boost demand for newly built single-family homes,” said NAHB Chief Economist Robert Dietz. “With these fundamentals in place, the housing market should improve at a steady, gradual pace in the months ahead.”

Builder Confidence in Land Home Financial

Derived from a monthly survey that NAHB has been conducting for 30 years, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

The HMI chart gauging current sales conditions increased two points to 76 in May while the indexes measuring buyer traffic and expectations in the next six months remained unchanged at 51 and 77, respectively.

Looking at the three-month moving averages for regional HMI scores, the West and Northeast held steady at 76 and 55, respectively. Meanwhile, the South and Midwest each edged down one point to respective levels of 72 and 65.

See detailed tables at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.