Mortgage lending is more than selling loans. It’s about helping people achieve their homeownership goals. Whether that’s helping them reach a better financial position or connecting them to the home of their dreams, it’s about guiding them to the finish line.
My industry experience has taught me to take the time to understand my customers: What’s their story? How can I help them in their pursuit of a home? When I see my customers as real people with real goals, needs, and dreams, I get to match them with the best loan product and create a truly seamless lending experience.
Everyone has a story to tell. What they need is a Loan Originator who will listen, customize a loan to meet their needs, and guide them every step of the way.
Bobby was amazing with answering all of my questions, no matter how ridiculous they may have been. He and his staff were easily accessible throughout this entire process and made me feel at ease. Bobby helped us with many things, including tips on how to improve our credit scores. I've heard horror stories about how difficult and stressful buying a home can be, but with Bobby it was a breeze
Bobby and his crew were great to work with!
Closed my loan in under 30 days. Super knowledgeable and upfront with expectations and needs. Will definitely use him again
I highly recommend Bobby as part of your home buying team. He worked tirelessly to get my husband and I approved for our home! This was our first home and he walked us through the process with patience and expertise. He was always available to answer questions and went above and beyond to handle every aspect of our loan. We will definitely work with Bobby again in the future!
Bobby and his team did a great job assisting my Husband and I in purchasing our first home! We had a bunch of difficulties with our past and current employers but they stayed calm, cool, collected and got the job done on time. Y'all rock, thank you so much for your help!
The process was smooth from start to finish. Bobby and his assistant Amber were a pleasure to deal with. They explained everything and were quick to reply to emails and phone calls. Their assistance made the whole first-time home buying process a little less stressful. We really appreciate it!
I have worked with Bobby Cloud for the last two homes I purchased and am very thankful to work with such a professional! Bobby has always been very quick to respond to any emails or calls and also was able to get me better rates than others were offering. I highly suggest you reach out to him and you will be thankful that you did.
"Insanity, doing the same thing over and over expecting different results"— Anonymous
What’s the fastest and simplest way to refinance your FHA mortgage? The answer is via our streamline FHA refinance program. If your mortgage is insured by the FHA and you’re looking to refinance to get better terms and lower your rate and/or payment, we’ve got a few things you might want to know.
Here’s the rundown: for homeowners with FHA mortgages, there’s no better way to refinance. Streamline FHA refinance is a program designed by the Federal Housing Administration to help homeowners make their FHA mortgage more affordable without the burden of an extensive qualification process. It’s streamlined!
Loosened qualification means an easier, simpler process for you, the homeowner. Plus, it’s a win-win for the FHA: since they already insure your mortgage, they presume there’s a lower chance that you’ll default, and at the same time, they’re helping you get a better, more affordable loan.
It’s a great option if you’re a homeowner who currently has an FHA loan and your current mortgage rate is higher than today’s mortgage rates.
The FHA’s streamline refinance program is loaded with benefits for borrowers who qualify. Here’s a quick list to give you an idea:
No home equity? No problem. Streamline FHA refinance might just be the program for you.
Of course, as with any money you borrow, some restrictions still apply. For starters, there has to be a demonstrated net tangible benefit in a streamline FHA refinance transaction. Net tangible benefit means you can only do a streamline FHA refinance if it benefits you. Would a streamline FHA refinance lower your interest rate? Would it convert your current mortgage from an ARM to a fixed-rate loan? Put simply, would it leave you in a better standing than before? Great! That’s the kind of borrower the FHA is looking to benefit with their streamline FHA refinance program.
You can’t increase your loan balance to cover refinancing costs and your new loan cannot exceed the initial mortgage amount. When you do a streamline FHA refinance, your new loan amount is limited to the current principal balance plus the upfront mortgage insurance premium. That means you’ll either have to pay closing costs out of pocket or get a “no-cost” loan. And really, “no-cost” should actually be called “no out-of-pocket costs” because it means your lender agrees to paying the closings costs if you agree to paying a higher interest rate.
Your mortgage must be current (not delinquent) when you apply for your streamline FHA refinance, and you’re only allowed to make one late payment on your current FHA mortgage in the past year. In addition, your mortgage payments for the last six months must have been made within 30 days of their due date. Since streamline FHA refinances require less verification, this kind of payment history will show your lender and the FHA that you’re responsible with paying off your current mortgage.
Then there’s seasoning requirements. You must have made at least six monthly payments on the mortgage being refinanced and the six most recent payments must have been made on time. In addition, at least six months must have passed since the first payment due and at least 210 days must have passed since the date you closed.
Unfortunately, unlike some refinance programs, streamline FHA refinance doesn’t let you take much cash out. You can’t get more than $500 cash back for minor adjustments in closing costs. Not a good option if you’re looking to get cash out for refinancing. (Read up on our cash-out refinance program.)
Finally, like an FHA loan, streamline FHA refinance requires you to pay mortgage insurance in both a one-time, upfront mortgage insurance premium which you pay at closing and a monthly mortgage insurance payment.
Streamline FHA refinance is a pretty great program if you ask us. And actually, you should ask us. Call Cardinal today and we can determine whether you’re eligible for a streamline FHA refinance!
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Emerge from winter’s icy grasp with arms (and windows) wide open. When you feel that first warm day, who doesn’t get bit by the cleaning bug? There are so many ways you can embrace the warmth of spring in your home when you use our spring cleaning checklist!
Ready to take on Cardinal’s 30-Day Cleaning Challenge? Share photos of your progress with us on social media!
Home renovations are in. From the fun, DIY couples on TV to your next-door neighbors, it seems like everybody is getting in on home upgrades and the house flipping trend. House flipping has become a lucrative source of income for many people across the country, and while that may not be your thing, there are plenty of upgrades that you can make to your own home to make it more valuable when it comes time to sell.
When it comes to valuable home upgrades, the best pace to start is in the bathrooms. There’s no need to go all out here—minor bathroom upgrades can get you even more money back at resale than you spent to make the renovations without expansion or adjusting the layout. It’ll cost you around $10,500 to replace the tub, tile, floor, toilet, sink, vanity, and fixtures, but on average you’ll get back $10,700 upon resale, which is good for a 102% recoup rate. Tasks such as re-caulking a tub can be done yourself, and if your tub is too big to replace, you can simply re-glaze it to make it look brand new.
Ever thought your home could use a little something extra? Well, landscaping is an excellent way to add curb appeal and resell value to your home. The average homeowner spends about $3,500 for landscaping services and around $1,500 on a designer. However, the average return at resale for these home upgrades is 100%! Not bad for a few extra plants out front. It’s a bit deeper than that, but many local garden centers offer free design services, so get with an expert and see what elements you can add to give your property some added flair. Focal points such as walkways and fountains have been known to add major value to homes as well, so bring out those gloves and get ready to work.
There are plenty of upgrades that you can make to your own home to make it more valuable when it comes time to sell!
When it comes to kitchens, in most cases it’s more efficient to skip the full-blown floor plan overhaul and just go with a minor remodel. This approach is much cheaper and on average will recoup about 98.5% of its $15,000 cost. Minor remodels are usually the better option when your kitchen is simply in need of a cosmetic update rather than a completely different floor plan. A $15,000 kitchen update usually will cover cabinet and drawer refacing, a new wall oven, cooktop, sink and fixtures, countertops, and flooring. Experts suggest you add new lighting and change the drapes and window molding to get the maximum value out of this home upgrade.
Looking to add some extra living space to your home? Turning your attic into a bedroom not only gives you an extra room to house guests or rent out, it also adds quite a bit of value to your home. The average attic bedroom in a two- or three-bedroom house costs around $39,000 and will return about $36,600 at resale, good for a recoup rate of 93.5%. That $39,000 price tag includes a 15 x 15 ft. bedroom, a 5 x 7 ft. bathroom with shower, a 15 ft. dormer, four windows, and a closet. Adding attic insulation will lower your utility bills and a solar-powered fan is another great way to keep energy costs down for the additional space.
A standard-sized, pressure-treated wooden deck with a simple pattern costs about $11,000 and can add about $10,000 to the value of your home, a recoup rate of 90%. One of the main advantages of owning a home is having yard space, so it makes sense that a feature that takes advantage of that space would recoup well. Small improvements and eye appeal elements such as lighting, plantings, and railings can make a big impact when it comes time to close. Depending on the weather in your region, these outdoor elements are a welcome home upgrade that home buyers will surely pay for.
Do you have any advice to offer on home upgrades? Tell us all about it on social media!