Damien Russell - Branch Manager NMLS #296972

PRMG is HERE to Better Serve You! We have a variety of home loan programs that offer flexible financing, whether you are looking for your first home or your last.

Fixed rates available
Standard & high balance options
Renovation loans
FHA down to 580 credit score
Reverse mortgages
VA Loans
and more!

Contact me today to learn more.

https://myoc.io/drussell

When a new home is purchased with less than a 20% down payment, your lender creates a special account to collect insurance and tax payments necessary for the borrower to keep their home. This is called an Impound Account; the lender divides the annual cost of each type of insurance into a monthly amount and adds it to the mortgage payment. 🏡💰

Keep an eye on this account because if funds are short due to rising insurance or property taxes, the borrower will have to add funds to the account, as directed by the lender. 👀

Learn more about an Impound Account by reaching out to your local PRMG team member.
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https://myoc.io/drussell

ACT FAST!! The Florida Hometown Heroes Housing Program is available to you, STARTING NOW. 🏠🌴

Get access to up to $35,000 per home (5% of the total loan) as a second mortgage program! If you work at least 35 hours a week in the state of Florida AND you are a first-time homebuyer, you may qualify for funds that can be used for down payment or closing costs. 💰

Eligible borrowers will receive a 30-year fixed TBA or Bond FHA first mortgage.

Connect with our PRMG today to learn more! 🌟

https://myoc.io/drussell

Use this checklist to start collecting the necessary documents needed for the mortgage process!
https://myoc.io/drussell

Have you heard of the Housing Ratio before? 🦻

The housing ratio is important because it can be the deciding factor of your mortgage application! Also known as the front-end ratio, the housing ratio is the percentage of your pre-tax income that goes toward your housing expenses. The amount of money you are paying toward monthly housing expenses (your mortgage, mortgage insurance, and property taxes) is divided by your monthly gross income and multiplied by 100.1 Lenders use that percentage to decide if the borrower will be approved for a home mortgage loan! ✅

Reach out to your local PRMG representative with any questions.
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https://myoc.io/drussell