My situation was very complicated with lots of moving parts. Michael was extremely patient throughout and guided me every step of the way. He provided stellar service that is hard to come by. His dedication and willingness to teach and learn is outstanding.
Dwanyietta W Oct 28, 2022
Mike was very insightful and helpful. Felt more like a lawyer the way he was fighting for us. Can’t wait to work with you all again
Andre A Aug 31, 2022
Michael made this process painless. I knew nothing about having a mortgage or what it took to purchase a home. He was extremely informative and knowledgeable every step of the way. I appreciate all the work he put into this process. Thank you Michael
Toby T Aug 03, 2022
Michael was AWESOME he explained every step of the process made me feel comfortable. I am truly going to miss our weekly conversation.
Renata H Jul 27, 2022
Michael is very straight forward and keeps you in the loop of the process. No issues with communicating and answered all of my questions and concerns thoroughly. Along w my Realtor, He made the process comfortable for us and I’d recommend him to anyone.
Kenyon A Jun 07, 2022
Communication was key everything was explained in a timely manner.
Daniel A Jun 07, 2022
Michael made everything simple and easy
Amy T May 18, 2022
Michael was a such a great helper with everything we need I am very great full. Thank a lot.
Martha M May 02, 2022
We had a great experience with our loan officer Mr. Michael Sell for our mortgage loan. He was always available to help in anyway he could and he was very fast and very knowledgeable. We definitely recommend him to our friends and family 🙂 thank you for everything Michael .
J M Jan 29, 2022
Ya know this guy was epic! I loved working with him!! He came highly recommended by not only my realtor but also my mother-in-law!
Gregory H Dec 15, 2021
Michael made me feel like family. Not once did this feel like a business transaction. He was always available to answer my questions and took the time to make sure I understood everything. This was my first home purchase and Michael made it a breeze!
John C Dec 13, 2021
Knowledge and professionalism of Mr. Sell. Quick and effective communication.
LaKeysha A Dec 12, 2021
As a first-time homebuyer Michael was great about taking the time to explain everything to me and OVERcommunicated every detail.
Kelli S Nov 15, 2021
Michael was very honest and helpful from beginning to the end. He and the team he works with are very professional, timely, hard working and persistent. Thank you again Michael, Laural, and Blaine and Eustis team!
Shantell A Nov 11, 2021
Michael was professional, attentive, and kept me informed on every detail throughout the process. Always available within minutes for questions and concerns. Above all, he was compassionate and treated me as a friend. Best customer service I have ever experienced. Thank you, Michael!
Azeez O Nov 10, 2021
Michael was such a pleasure to work with - quick, clear, communicative, responsive and professional. Thanks to him, the closing on our home was a smooth process. I will absolutely be recommending him to others.
Bethany B Oct 25, 2021
Michael was very helpful, responsive, worked hard for us, and helped explain the process.
Warren P Oct 21, 2021
Professionalism, made sure we were in great communication while we were in the middle of an overseas move. We closed on the house in 3weeks from the time we saw the house first to the signing!
Jessica M Sep 04, 2021
Communication happens from start to finish. Mr. Sell is full of knowledgeable information and is readily available via phone, email and even text (should there be important) information to share.
Trina H Jul 26, 2021
A pleasure working with Michael!
Josline G Jul 23, 2021
Very professional and knowledgeable, Mr. Sell also answered all the questions I had and was very patient with me.
Kimberly A Jul 20, 2021
Mr. Sell is very knowledgeable, professional, and has a lot of patience.
Pedro A Jul 20, 2021
Thank you Michael!!! Job Well done!!! Slow and steady won the race to my brand new home. Thanks to you and you team♥️
Ramona M Jun 07, 2021
Michael walked me through the whole process as a first time home buyer. He kept me apprised of everything and was able to answer all my questions.
Melanie C Jun 07, 2021
Michael was very thorough with all of the information he provided to us with purchasing our first home. Any question that we had he was able to answer. He is very patient and he made the process an enjoyable experience!
Sharina D Jun 04, 2021
Michael absolutely exceeded all expectations of a lender from day one! He went above and beyond w/ every aspect of this transaction & literally set the bar for all other other lenders. I enjoyed working w/ Michael & he really cared about the client & that was AWESOME!!!!!
Nikki A Jun 04, 2021
Working with Michael was great because he was able to fully articulate every step of the process in a way that was completely palatable to a first time homebuyer. He will be the ONLY MLO I use or refer others to!
Carl D Jun 04, 2021
Michael literally held my hand throughout the entire process.
KyShontha J May 12, 2021
From the beginning this experience was amazing! Michael was patient and very informative every step of the way. He made the tough moments better by his kind words and diligence. He worked hard for us, all the way to the closing table!!!
Herbert M May 07, 2021
Michael is phenomenal! His communication is spectacular and he throughly explains things! He even adds in what I call bonus knowledge! Being not only a first time home buyer but the first in my family I had a great experience! I would recommend him a thousand times over! Before I met Michael I had communicated with three other lenders and they did perform on the level Michael did.Michael is NEEDED on your team! He is a diamond in the roughness of the world! Keep changing lives Michael! ❤️
Dinesha J Apr 28, 2021
Michael’s communication skills are unmatched!
Aline Y Apr 14, 2021
Michael was so helpful guiding us through this process. He is understanding and knowledgeable about everything and was able to explain it clearly to us. Every time we called or texted him he responded right away with answers to our questions and information. Michael is a true grandmaster of real estate material arts. He is a ninja 🥷
Charles W Apr 07, 2021
Michael was very easy to work with and always available for questions. Would definitely work with Eustis and Michael again.
Jacqulyn W Apr 06, 2021
Michael is patient, clear, communicative, kind, knowledgeable, persistent--I could keep listing adjectives, but just kmow if he is handling your loan, you are in great hands!
Stephanie G Mar 31, 2021
Michael was a pleasure to work with. Great communication throughout the process. He’s very knowledgeable and informative. I look forward to working with him again.
Jarvis B Mar 12, 2021
Michael’s sweet and reassuring personality helped me get through this process. Not only is he extremely knowledgeable about finances, he is willing to share this knowledge with his customers! This process was enjoyable because of Michael. I’ve already shared his contact information with Family and Friends!
Kimberly F Mar 09, 2021
Michael Sell was AWESOME!!! Very informative, Always made sure I understood Every detail and stayed on top of everything! I would highly recommend him to anyone, He’s the BEST!!
Brittney E Feb 26, 2021
Michael made our home buying process very smooth and worry free. He was very helpful from the start of the pre-approval process till closing. He definitely will be our guy for the next property.
Kris F Feb 25, 2021
This was the purchase of my first home. Michael stayed in contact with me and was very helpful with explaining every single step of the process. He made this very important goal of mine very easy and smooth.
Neidra M Feb 22, 2021
Michael was very informative and supportive throughout the whole process. As a first time homebuyer I felt very comfortable throughout this process and my anxiety was greatly reduced.
Jasmin P Feb 22, 2021
Everything was great from the beginning to the end. I appreciate everything that was done for me and my wife.
Shane L Feb 22, 2021
We want to make your home financing as easy as it can be. With Eustis Mortgage, you can relax while we handle the details.
You can get a loan before you even select a home. A Eustis home mortgage specialist can perform a pre-qualification or pre-approval so that you'll have a good idea of how much you can afford. Once you've found a home, and a seller has accepted your offer, you are ready to move to the Application process.
- You will know the loan amount you qualify for so that you know what home price range to shop
- Save time to narrow the list of homes to ones that fit your price range
- Discover any credit challenges early in the process we can resolve them at the beginning of the process
- Confidently make an offer as soon as you find your dream house
- Sellers will consider your offer more strongly with a prequalification letter over one that is not
- Your agent will ask for this as it improves your chances of getting the house you want
There are no fees or costs to getting pre-qualified, but it is a vital step in the home buying process. Call us today!
Prequalification: This is an overview of your credit profile that is an important step to writing offers for new homes and one we highly recommend. It just means that you have not submitted the documentation that will be required to verify your income, financial statements showing enough assets to close and you have not yet met the underwriting guidelines of the program you are going to select once you find the home of your dreams.
Preapproval: If you have a little more time at the beginning of the process, we always recommend getting Preapproved. A preapproval is the start of the formal application process before you find the property and is more thorough review of your financial position and ability to qualify for a home.
Why get Preapproved for a Mortgage?
- You’ll be able to move faster to find the house you want
- Most of the paperwork will be out of the way so you can close your loan faster
- You will be able to move to the top of the offer stack as your income, assets, and ability to buy has been verified
- Sellers know you will be less likely to have a delay in closing
- In competitive markets, this is another feather in your cap
Buying a house is one of the biggest decisions you will make in your lifetime. Our goal is to make the process as smooth and hassle-free as we can. Understanding the process will give you the knowledge you need to get started.
- Step in Getting Prequalified or Preapproved
You can get a loan before you even select a home. One of our home loan experts can perform a pre-qualification or pre-approval so that you’ll have a good idea of how much you can afford. Once you’ve found a home, and a seller has accepted your offer, you are ready to move to the Application process.
Once you’ve selected a home, your home specialist completes the mortgage application, gathers information about the property you want to buy, and collects personal information, such as income, assets, and employment history. For a complete list of information that you need to provide, see the Application checklist.
Once your application is complete, a loan processor reviews your file and verifies your information. We order a credit report to determine your credit history and credit score. We also order an appraisal of the property.
An underwriter reviews your file and determines whether your loan will be granted and issues the loan approval. The underwriter may request additional information during this review process.
Once the loan is approved, the closing process begins. Our closing department prepares closing documents and sends closing instructions to the title agent. The title agent is responsible for examining the title of the property and working with you for an acceptable closing date. At the closing, you’ll sign papers, pay closing costs, and finalize the transaction. Now it’s time to move into your new home.
Lower Payments*. Consolidate Debt. Pull Cash Out.
*By refinancing your existing loan, the total finance charges may be higher over the life of the loan.
First, start by asking yourself one of these questions.
Has your income increased? Do you need to consolidate debt? Has the equity in your home increased? Do you need money for a major expense? Has your credit rating improved?
If the answer is yes to any of these questions than we encourage you to call one of our home loan experts to give you a refinance evaluation. It costs nothing but could save you thousands of dollars in interest, pay off high balance credit cards, or help pay for college or unexpected expenses.
Knowing your options is the most import part of the refinance decision so Call us today!
¬ As you pay down your mortgage or as home values increase over time, a cash-out refinance allows you to use a portion of your equity and turn it into cash. The great news is you can use that cash however you want. Home improvements, unexpected expenses, college tuition or just to check a destination off your bucket list.
When is the best time to turn that equity into your house and use it as you see fit? That answer is up to you and can be used to fit your current needs.
Some of the more chosen reasons for utilizing a cash-out refinance are to:
- Remodel of you home
- Pay off high-interest credit cards or auto loans, neither of which is tax deductible like mortgage interest
- Help with life events like a growing family
- Bucket List Reduction
- Elimination of student debt
A renovation loan will let you do almost anything with your home. Some loans are used on smaller projects like ordinary repairs or cosmetic updates. These types of renovations loans typically don’t have minimum loan requirements for the repairs or upgrades you want to make to your home. These loans are limited to non-structural repairs with maximum loan amounts around $30,000.
With these types of loan, you can improve things like:
- Repairing or replacing your roof and gutters
- Redesigning your kitchen or bath
- Landscaping or adding a deck
- Buying new appliances
- Getting new windows, doors or floors
- Making your home energy efficient
- Upgrading plumbing, electrical, heating or cooling systems
- Ask a home loan expert (bolded and hyperlinked to find a loan officer)
Need to do more extensive renovation? We got you covered!
We have other programs that are specifically intended to make major repairs or changes to your home. These will have a minimum loan amount but the good news is you can borrow up to the value of your property plus repairs/renovation. Here are some examples:
- Room additions or adding a second floor
- Major remodeling that requires structural work
- Foundation or other structural repairs
- Projects over six months
You don’t have to settle for a house that only has half of the items on your wish list. With renovation loan you can buy in the perfect neighborhood and then get all the items on your list without coming out of pocket. This loan allows you to combine the purchase price of the home and the cost of repairs and upgrades into a single mortgage. No second lien at a higher interest rate required. Other benefits include:
- Get a home in a great location below market price
- Getting a bargain on a home allows you to move to a higher priced area of town
- Get more bang for the buck with a larger home
- Opens up your search area
- Your home fits your taste and family requirements
A remodeling home loan allows you to make your current home into your home for the future. These types of loans allow you to roll the costs of the work you do into one new mortgage. No second lien required, most likely at a higher interest rate. Since this is a refinance, you can also capitalize on lower interest rates, move to a shorter loan term and possibly lower payments.
A fixed-rate mortgage offers an interest rate that is steady throughout the life of the loan. Fixed-rate mortgages offer the security of always knowing exactly what your monthly loan payment will be. The interest on ARMs can fluctuate (up or down) periodically. The interest rate on ARMs offers an opportunity to save on interest costs. However, you are protected from rates getting too high, because a safe ARM has annual and lifetime rate caps, which limit how high your rate may go.
This a decision you must make. Here is one way of looking at the question: If you can afford the payment and are comfortable with all the other terms, it makes sense to go ahead and firm it up IN WRITING. Do not be overly concerned if rates fall after you lock. If your objective is to purchase the property, you have eliminated one uncertainty. If you are refinancing, locking the rate guarantees that you will reduce your monthly payments or be able to obtain cash you need for home improvements or other worthwhile goals.
You can lock your rate at application, while your loan is being processed and approved, or any time shortly before closing.
Eustis Mortgage offers lock periods up to six months on some loan programs.
PMI is required for conventional loans with a down payment of less than 20th of the value of the home. You can avoid paying PMI by making a down payment of 20 or more of the value of the property you want to buy.
PMI will be automatically terminated when the loan-to-value ration is scheduled to reach 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches 78 assuming all payments are current. Borrowers can request cancellation of PMI when the loan reaches an 80 loan-to-value ratio, assuming the loan is current.
How do I know whether the house is in a flood zone, and if so, how can I determine my insurance premium?
Eustis will order a flood certification before loan closing, as required by federal law. However, if you would like to find out if the property you are purchasing is in a flood zone, you can contact your insurance agent or check the local library for updated flood maps. FEMA determines flood risk by comparing your lowest floor level to flood levels from the past 100 years. FEMA bases flood insurance premiums on this information. You may need to get a slab elevation if you are unable to obtain this information from the seller or your local permit office
Annual Percentage Rate (APR) is a calculated interest rate that reflects the overall cost of a loan on an annual basis. APR includes interest payments, origination fees, discount points, and other specific costs of getting a loan and is, therefore, usually higher than the interest rate. APR can be useful for comparing different types of loans. However, while all lenders are required to calculate APR based on guidelines provided by the Truth in Lending Act, not all lenders include the same costs in the calculation. This can make it difficult to compare the APR for loan programs from different leaders.
Points, also known as “discount”, are funds paid at closing so that you can get a lower interest rate for the life of the loan. For example, you may be quoted a rate of 7.375 with 0 points or 7.000 with 1 point. One point is equal to 1 of the mortgage amount.
Closing costs are expenses paid, by both buyers and sellers, at the closing meeting. Closing costs include pre-paid taxes and insurance, discount points, origination fees, title insurance, and other fees that may apply to your loan.
Pre-paid items are hazard/homeowners insurance, taxes, and pre-paid interest. Most insurance is paid in advance, so you will be required to pay for your homeowner’s and flood (if required) insurance policy for the first year in advance. Also, the lender will require you to make a deposit of up to 2 months of payments in order to establish an escrow account.
Many loan programs require that the lender pay the taxes and insurance on behalf of the borrower. Your loan officer can determine if the option to pay taxes and insurance yourself is available on the loan program that is best for you.
MORTGAGE PAYMENT CALCULATOR
Estimate your monthly mortgage payment using the calculator below. Simply enter the purchase price of the home, loan term, and details about the home loan. Please note that escrow for taxes and insurance is not required for loans with down payments more than 20 percent. Some of this information may be difficult to determine on your own; please contact a mortgage specialist to review the most accurate monthly mortgage payment for the area you are purchasing.
Types of Loans
Streamline 203K: This is for projects where total renovations do not exceed $35,000. It is more for minor changes like upgrading HVAC, paint, fixing or replacing roofs, patios, septic systems or remodeling a kitchen. It does not allow for structural changes like foundation work.
Full 203K: This for projects that need to be more expansive in nature and may go over $35,000 in total renovations. It can be used for all the repairs from a streamline, but you can also make structural changes and reconstruction, repair or replace plumbing or use it to improve energy conservation, safety or disabled accessibility.
This is a great option when buying a home that needs a little TLC or you want to make your current home into your forever home.
What can a Homestyle Renovation help with?
- In-ground pools
- Interior and exterior upgrades
- Kitchen or bathroom upgrade
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Program Flexibility: Conventional loans allow for different terms and down payment. Meaning you can customize your down payment, whether you have a first and a second or if you want to do one loan with Mortgage Insurance.
Loan Limits: Conventional loans are capped at a maximum loan amount of $647,250 for single-family homes unless the property resides in a High-Cost Area of the United States.
Second Liens Permitted: Another difference between conventional loans and the other programs is the ability to add a second lien to assist with down payment requirements. This also is a good option when buying a higher price house and need to go above the maximum financing amount in a non-High-Cost Areas.
For loan amounts over conforming limits and up to $3,000,000.
A VA home loan is a great benefit to military personnel during and after their service. Thank you for your service and sacrifice for our country.
No Down Payment: A VA home loan comes with 100% financing. Contact one of our home loan experts for more details.No Mortgage Insurance: Unlike USDA a VA home loan does not have monthly or annually mortgage insurance.
Certificate of Eligibility Required: In an effort to make sure we use your Veteran Benefits properly borrowers must obtain a Certificate of Eligibility . The VA Benefits portal will be able to help you find this information or contact us and we can assist you in getting the info.
Low Down Payment: FHA loans are great for first time home buyers or home buyers that are working with limited down payment. A down of 3.5% is all that is required and can be a gift from a relative.
Flexible Income Requirements: The original goal in 1934 for FHA loans was to make home ownership possible. One way the program does that is by allowing for more flexible income and credit guidelines.
Loan Limits: FHA does have different maximum loan sizes by area. To learn more click on here to see what the Loan Limits are in your city.
No Down Payment: The USDA loan comes with 100% financing. A down payment is not required which can be an obstacle to homeownership.
Low Monthly Mortgage Insurance: The upfront insurance rate on a USDA is generally lower than VA or FHA. It also has one of the lowest annual mortgage insurance fees. Other good news is the upfront fee can be rolled into the loan, eliminating an out of pocket expense at closing.
Only available in certain geographic areas: To get a USDA loan, the property you buy has to be in a USDA designated rural area, but that does not mean it is necessarily farmed land. Over 90% of the U.S. is eligible, which includes small town and suburbs. The USDA Mortgage Eligible Map will show you all the areas where you can use this loan.
Income Limits: The USDA loan was originally designed fro low to moderate-income families. The guidelines for USDA define income level as being 115% of the area’s median income. This income amount if very different in different parts of the country and can be very different in certain areas of a state. Please contact one of our home loan experts to learn more.
- Fixed Rate and Adjustable Rate
- FHA, VA, and USDA Loans
- Jumbo and Conforming Loans
- Conventional Financing
- Renovation Loans
Special Programs for Non-traditional borrowers also available
100% YES! This one decision will make the home buyer process go much more smoothly. The pre-qualification process is simple:
- Gather your personal financial information such as bank statements, W-2 forms and paycheck stubs, and meet with your Loan Officer.
- We will pull your credit report and evaluate your financial documents. With this information, you and the loan officer are able to discuss the best home financing options that will help you achieve your financial and homeownership goals.
- Once you are prequalified, we will give you a prequalification letter to inform your real estate professional and the seller of the property that you’re a preferred and serious potential buyer. This will give more weight to any offer you extend on a property as well as allow you to relax and enjoy the process of looking for your new home.
- How long will you live in this home? Several years, or just a few?
- Do you anticipate your income or finances to significantlychange over the next few years? Do you anticipate significant changes to your income or finances over the next few years?
- Are you either comfortable or uncomfortable with an adjusting monthly mortgage payment? Have you considered an adjusting monthly mortgage payment?
- Do you plan to be out of mortgage debt by, for example, when your children start college or when you retire?
Based on your answers, your home loan expert can discuss different home loan programs that will suit you financially and help you reach life’s milestones.
An FHA loan, on the other hand, is guaranteed by the Federal Housing Administration. FHA is a government agency that works with approved lenders like us.
Typically, origination points are applied and disclosed at the time of locking in an interest rate. On the other hand, discount points can be added at the time of lock or later in the process if you choose to pay to reduce your interest rate.
Origination fees are the fees required to originate the loan. They can include processing fees, underwriting fees, administrative fees, and several others. One of our Loan Officer can give you a complete breakdown of these fees as they vary from state to state.