Edgardo Balentine is originally from Colombia and spent some of his formative years in France. He came to Florida on a scholarship to play baseball and graduated from Ave Maria University in 2013. As a dedicated father and husband, he understands the importance of having a place to call home. Before joining the Primary Residential Mortgage team, Edgardo worked at large financial institutions such as Bank of America and BB&T.
Edgardo is fluent in English, Spanish, and French, and he uses his background and expertise to educate his clients while helping them achieve their home ownership goals. It all begins with an idea. Maybe you want to buy your first home. Maybe you want to save money or use equity by refinancing your current mortgage. Or maybe you have a complicated financial situation that other lenders haven't been willing or able to work with.
Whatever it is, a video meeting online can make all the difference in getting us on the same page to accomplish your goal.
Edgardo is fluent in English, Spanish, and French, and he uses his background and expertise to educate his clients while helping them achieve their home ownership goals. It all begins with an idea. Maybe you want to buy your first home. Maybe you want to save money or use equity by refinancing your current mortgage. Or maybe you have a complicated financial situation that other lenders haven't been willing or able to work with.
Whatever it is, a video meeting online can make all the difference in getting us on the same page to accomplish your goal.
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To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of "28/36."
This means that no more than 28% of your total monthly income (from all sources, before taxes) can go toward housing, and no more than 36% of your monthly income can go toward your total monthly debt (including your mortgage payment).
Need financing options on a home, investment property, or other residential real estate?
Choosing a mortgage loan product that matches your goals and making sure you get the best financial scenario can feel like playing whack-a-mole.
This means that no more than 28% of your total monthly income (from all sources, before taxes) can go toward housing, and no more than 36% of your monthly income can go toward your total monthly debt (including your mortgage payment).
Need financing options on a home, investment property, or other residential real estate?
Choosing a mortgage loan product that matches your goals and making sure you get the best financial scenario can feel like playing whack-a-mole.
Refinancing is the process of paying off your existing mortgage with a new mortgage.
Typically, you refinance your mortgage to reduce your interest rate and monthly payment or change the length (or term) of your mortgage.
You may also refinance to take cash out from your home's equity to pay off other debts, make home improvements, or for many other reasons.
Need refinancing options on your home, investment or vacation property, or other real estate?
Choosing how and when to refinance your mortgage in a strategic way that matches your goals and your individual scenario can feel overwhelming.
Typically, you refinance your mortgage to reduce your interest rate and monthly payment or change the length (or term) of your mortgage.
You may also refinance to take cash out from your home's equity to pay off other debts, make home improvements, or for many other reasons.
Need refinancing options on your home, investment or vacation property, or other real estate?
Choosing how and when to refinance your mortgage in a strategic way that matches your goals and your individual scenario can feel overwhelming.
As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans.
When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change.
This may be a good choice if you plan to stay in your home for seven years or longer.
When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change.
This may be a good choice if you plan to stay in your home for seven years or longer.
Interest rates are often lower on 15 year Loans so payments may only be slightly higher than longer amortization options.
If your goal is to pay off your home as soon as possible this may be a great fit.
As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans.
When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you lock in the rate for the life of your loan.
If your goal is to pay off your home as soon as possible this may be a great fit.
As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans.
When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you lock in the rate for the life of your loan.
Most homeowners get into adjustable-rate mortgages for the lower initial payment, and then usually refinance the loan when the fixed period ends.
At that time, the interest rate becomes variable, or adjustable, and the homeowner would likely refinance into another ARM, fixed rate, or sell the home outright.
An ARM is an Adjustable Rate Mortgage.
Unlike fixed rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically.
At that time, the interest rate becomes variable, or adjustable, and the homeowner would likely refinance into another ARM, fixed rate, or sell the home outright.
An ARM is an Adjustable Rate Mortgage.
Unlike fixed rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically.
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