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Real estate comes natural to Jocelyn Falero. As the daughter of Realtors, she was immersed in the industry from an early age, learning to show properties in high school and later working in administration as a transaction coordinator. Jocelyn attended the University of Florida, where she graduated cum laude with a Bachelor's degree in psychology. When she chose to become an agent full-time, Jocelyn had the resources to rocket quickly into the highest echelons of the South Florida market. She trained extensively with experts at Keller Williams, and soon, selling homes was not just the family business- it became a deeply personal source of pride and achievement. Jocelyn shares in the satisfaction of her clients, and she works tirelessly to put a smile on every face.
To the outside observer, real estate is all numbers and paperwork; for Jocelyn however, its about making connections and building trust. She genuinely cares for her clients' well-being, and she strives to understand their hopes and fears, to provide the tailored, industry-leading service for which The Falero Team is known.Jocelyn has a knack for making the arcane process of a real estate transaction understandable. Her clients make informed decisions, safe in the knowledge that they are in good hands. She rejects "good enough" and second-rate solutions; applying her local market expertise and her wide professional network, Jocelyn has made standard practice of achieving the best possible outcome. With the right agent on your side, backed by an energetic team of industry leaders, you don't have to play it small. Dram big with The Falero Team!
On a more personal note, Jocelyn absolutely adores the vibrant community spirit of Pembroke Pines and its surrounding areas. She loves kids and is an avid reader, averaging 100 books a year! Fascinated by the cultures of the world, she loves researching new places and travelling when she gets the chance. Jocelyn adheres to Gandhi's expression, "Be the change you wish to see in the world," actively participating in community service, serving as the President of her Alumni Association, and leading Forum Introductions for teens and young people at Landmark Worldwide. As a self-professed nerd, she also loves gaming and attending comic book conventions. Whenever she can, she spends time with her family and good friends around the pool, takes trips with family, and takes care of her giant Bernese Mountain Dog and little Tabby Cat.
We know that the financing and re-financing process can be intimidating at times. Therefore our team of experts works hard to provide borrowers with the most competitive rates in today's ever-evolving market.
Once your loan documents are signed and delivered back to us, you will generally be cleared to close within 5-7 days!
We can help with your pre-approval. This will help you stand out in this competitive real estate market. To make sure we provide you with the most accurate and fast pre-approval letter. We need the following information.
Tax returns and W-2 forms from the most recent two years.
Bank/asset statements from the most recent two months.
Paystubs from the last 30 days.
Valid photo ID.
But remember, by furnishing any and/or all of this documentation, you are in no way obligated to accept the terms and conditions of the mortgage offered, nor do you have to provide these documents to receive an estimate on the loan qualified for.
Mortgage refinancing can provide a number of benefits. These will vary from borrower to borrower, depending on what you are looking to achieve. But a refinance will generally provide one or more of these benefits such as better rate, lowering your monthly payments and shortening your loan length and many more benefits.
A better mortgage rate
This may be the most common reason for refinancing. If mortgage rates have fallen since you took out the loan, you can often save money by refinancing your mortgage into a new home loan at current rates. Or perhaps your credit situation has improved, so you're eligible for a lower rate.
Lower monthly payments
With a lower interest rate, you can get lower monthly payments as well, particularly if your refinanced mortgage has the same payoff date as your old home loan. You can also lower your monthly mortgage payments by extending your payoff date past what it currently is, so you're paying less in principle each month.
More predictable costs
If you currently have an ARM (adjustable-rate mortgage), you may choose to refinance to a fixed-rate loan to lock in your rate for the remainder of your mortgage. That way, you don't have to worry about your monthly payments increasing if rates should rise.
Shorten your term
Many borrowers start out with a 30-year home loan, then refinance to a 15-year fixed-rate mortgage after a few years. This allows them to pay the mortgage off faster and save a lot of money in interest over the life of the loan. Mortgage rates on 15-year loans are also significantly lower than on 30-year mortgages, so you may be able to shorten your term without a big increase in your monthly mortgage payment.
Borrow money
With a cash-out refinance, you can borrow against your home equity to obtain funds for any purpose. You receive a check at closing, the amount of which is added onto the mortgage principle you owe. Since mortgage rates tend to be lower than other types of debt and tax-deductible as well, it can be a very cost-efficient way to borrow.
Consolidate debts
You can use a cash-out refinance to pay off other debts to save money on interest and reduce your total monthly payments. Mortgage rates are usually lower than the interest rates paid on credit cards and other unsecured debt, so you save on interest payments.
Mortgages can also be repaid over longer terms than most other types of debt, up to 30 years, so you can reduce your monthly payments against debt principle, if that's your goal.Interest paid on mortgages and home equity loans is also tax-deductible, up to certain limits, whereas interest paid on other debts usually is not. Couples can deduct the interest paid on up to $100,000 obtained through a cash-out refinance for debt consolidation; for single persons the limit is $50,000.
Cancel mortgage insurance
If you have lender-paid mortgage insurance, you can refinance once you reach 20 percent equity to eliminate the premium that's built into your interest rate. The same also applies to certain FHA home loans that require mortgage insurance for the life of the loan.
Remove a person from a mortgage
There are times, usually after a divorce, when someone who originally signed onto a mortgage is no longer to be held financially responsible for the loan. The only way to get them off the mortgage is by refinancing. This can also be used to remove the name of a co-signer whose support is no longer necessary and wishes to be freed of liability.
Do not apply for a new credit card, auto loan, or other types of credit.
Do not co-sign a loan with someone.
Try to avoid changing jobs, become self-employed, or quit your job.
Do not skip payments on existing credit accounts, utility bills, or loans.
Delay charging up your existing credit on big-ticket items, like furnishings for your upcoming new house.
If you think any of these don’ts are musts, talk to your loan officer before you take action. They can help you figure out what to do so that your mortgage loan is the least negatively affected.
*Avoiding these actions before and during the financing process and this can prevent any unnecessary confusion.
Income ratio: Your total monthly housing expense divided by your pre-tax monthly income.
Debt ratio: Your total monthly housing expense plus any recurring debts, i.e., car payments, monthly minimum credit card payments, and other loan payments, divided by your monthly income.
Standard loan underwriting guidelines suggest a max 28 percent income ratio and 36 percent debt ratio, which may vary based on personal finances, loan program, and down payment.While not taking on any debt and paying for everything with cash seems like a logical choice if you feel you can’t afford your lifestyle, no credit also means bad credit in the eyes of a lender.
There’s bound to be a time when you can’t buy something with cash, like buying a house (in most cases). So, we recommend opening different types of credits such as car note or multiple credit cards and making an occasional purchase now and again on them.
To manage your debta keep credit card balances to less than 30 percent of your credit limit. Also, don’t close long-term credit lines, even if they’re not being used. Your longest-standing credit card account might be a huge contributor to your credit score health — and the mortgage rate you qualify for.