My New Blog

Primary Residential Mortgage is a nationwide lender servicing 47 states with 245 branches and has been in business since 1998. As a full-service mortgage company not encumbered by debt, they can offer the lowest rates and closing costs. Primary Residential Mortgage is a lender, not a broker, so they fund loans with their own funds. This allows them to offer low rates and closing costs.

"We receive huge volume discounts due to the large dollar volume Primary Residential closes," confirms Will Myers, Co-Branch Manager. "And our knowledge of first-time homebuyer programs can help borrowers take advantage of $7,500 in income tax credit through June 2009."

Primary Residential Mortgage offers a variety of loans to serve first-time home buyers and individuals who own their homes free and clear. Veterans Administration (VA) and Federal Housing Administration (FHA) government loans are available both to purchase property and to extract cash from equity as well as VA cashout refinancing up to 100 percent of a home's appraised value. FHA loans to purchase a property are available with only 3.5 percent down and allow the seller to pay up to 6 percent of the price towards the buyer's closing costs. And at Primary Residential Mortgage, VA and FHA Streamline loans allow simple refinancing without an appraisal or income documentation, and FHA cash-out refinancing allows up to 95 percent loan-to-value ratios allowing consumers to pay off their debt with this higher loan-to-value.

Loans are personalized at Primary Residential Mortgage. Expertise in firsttime homebuyer programs allows them to guide clients to buy a home with no money down and no out of pocket closing costs. Reverse Mortgage loans allow seniors to receive equity from their home either on an installment basis or lump sum, or they can use loan proceeds to payoff debt. A Reverse Mortgage loan does not have to be repaid as long as the home is owner occupied and the income received is not taxed. A Reverse Mortgage does not affect Social Security benefits or Medicare and there is no monthly payment owed. Primary Residential Mortgage specializes in other loans such as Rural Housing Loans which allow 100 percent financing, and the closing costs can either by included in the loan or paid by the seller. Co-Branch Managers Michael Scapin, John Scapin and Will Myers have been in the mortgage business for the past 10 years and were most recently with Pensacola Guarantee Mortgage. Their experience and combined expertise is a benefit to their clients.

"We have been in the mortgage business throughout several economic cycles, both up and down markets, and have survived both of these cycles" explains Michael Scapin. "We know the options available and work with our clients individually to find the best option."

Primary Residential Mortgage branch office has been open since 2006 and is conveniently located in Gulf Breeze at 2746 Gulf Breeze Parkway, Suite A, in the same building as the Driver's License office. Take advantage of low home prices and low interest rates by putting the expertise of the Primary Residential Mortgage specialists to work for you.