Call: (251) 625-0444 /  NMLS 193181
Alabama Purchase, Refinance, and Reverse Mortgages

FHA

This could be the best chance to refinance your mortgage for some time to come.

This could be the best chance to refinance your mortgage for some time to come.

If you:

  • Are currently paying monthly Mortgage Insurance with your Principle and Interest payment? We can eliminate it. You can refinance with No Monthly Mortgage Insurance!
  • Are you currently paying more than 4.75%?
  • You don’t want to reset the mortgage term clock back to 30 years? You can choose the term of your new mortgage- anywhere from 5 to 30 years!
  • Have high interest rate credit cards, or other revolving debt you would like to reduce?

If you answered yes to any of these questions, call 251- 625-0444 today for a no cost mortgage evaluation.  Don’t wait for rates to start back up, or you could miss this great opportunity.

 

Penny Phillips, CRMS, CMHS, NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

 

Email: southchasemort@att.net

www.southchasemortgage.com

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

                                                                                                                                                                      

Southchase Mortgage 2/5/2018 – Reverse Mortgage Marketing Statement

Southchase Mortgage 2/5/2018 – Reverse Mortgage Marketing Statement

 

Frequently, we hear from clients who tell us that before they contacted us, they called one of the national lenders to inquire about a reverse mortgage. What followed then was an unrelenting barrage of sales calls trying to pressure them into proceeding with the loan.

We do not operate this way. We have built and sustained our business for over 17 years by helping clients who want and need our help, and we never use pressure to coerce a client into any loan.

When a client is referred to us, they will be treated with the utmost courtesy and respect, whether we can do their loan or not.   If they do choose to work with us, they will receive a level of service that few other lenders can match.

We are all about clients shopping their loan, but they need to be aware of the risks involved with some lenders, or lender referral services.

If you know someone age 62 or older, and would like to speak to a local mortgage expert, have them call today.   We will be happy to personally meet with them at their home, bank, our office, or anywhere they feel comfortable.

We will be happy to explain how these HUD-insured loans work, and answer any and all questions they may have. If they decide that this is for them, we will then guide them every step of the way. There is no pressure- we will only answer questions and give honest advice.

 

Thanks for helping us, help you, help your clients!

 

Danny Phillips

 

Penny Phillips, CRMS, CMHS NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

 

Southchase Mortgage NMLS# 193181

 

251-625-0444

 

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

 

New VA Credit Thresholds

 

Southchase Mortgage 1/5/18

New VA Credit Thresholds

  • 100% Purchase owner occupied starting at 560 credit score
  • 100% Cash Out Refinance owner occupied starting at 620 credit score
  • 100% Streamline Refinance owner occupied, second home, and investment starting at 560 credit score
  • Loan amounts up $1,200,000
  • No Monthly Mortgage Insurance
  • Fixed or ARM loans with competitive rates

Call 251-625-0444 now for more information.  Serving Alabama and Florida.

Penny Phillips, CRMS NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

Southchase Mortgage NMLS# 193181

251-625-0444

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

 

 

Questions?

Southchase Mortgage

Do you have a question about a mortgage scenario?  Even if you aren’t ready to submit an application, I will be happy to answer your questions.

You may be thinking about relocating to the beautiful Alabama or Florida Gulf Coast.  To areas like Foley, Gulf Shores, Orange Beach, Daphne, Fairhope, Pensacola, Gulf Breeze, Navarre, Fort Walton, or anywhere in Alabama or Florida.

As a mortgage broker, I work with multiple lenders, and have access to hundreds of lending programs-not just a few.  This means more choices and incredibly low rates, whether you are considering a purchase, refinance, or even a home equity conversion mortgage (reverse mortgage).

If you have a question about any of our mortgage programs, call 251-625-0444 today.

We look forward to hearing from you!

 

Penny Phillips, CRMS NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Home Specialist

Southchase Mortgage NMLS# 193181

251-625-0444

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

 

The New Tax Law and HELOCs

The New Tax Law on HELOCs from Southchase Mortgage 12/29/17

Starting in 2018, interest on Home Equity Lines of Credit (HELOC) will no longer be tax deductible. If you would like a quote to combine your home equity line of credit with your first mortgage give us a call. We can even customize the term of the new mortgage to match the remaining years you have now, from 8 to 30 years.

Have a safe, Happy New Year!

Danny Phillips

Penny Phillips, CRMS NMLS# 204553

Certified Residential Mortgage Specialist

Certified Military Housing Specialist

Southchase Mortgage NMLS# 193181

251-625-0444

southchasemort@att.net

www.southchasemortgage.com

Conventional, Jumbo, VA, FHA, USDA, Commercial, Reverse

Purchase or Refinance

 

Now Licensed in FLORIDA!

We are pleased to announce that we are now licensed in the state of Florida!

As a sole proprietor mortgage broker, we work with many different lenders with hundreds of loan programs to offer which potentially save borrowers thousands of dollars over the course of their loan.

We are so confident of our rates and loan costs we actually encourage borrowers to rate shop their loan!

Call now for a no cost rate quote or preapproval.

Merry Christmas!
Penny Phillips, CRMS NMLS 204553
Certified Residential Mortgage Specialist
Certified Military Housing Specialist
Southchase Mortgage NMLS 193181
22394 Miflin Road, Suite 201A
Foley, AL 36535
251-625-0444

southchasemort@att.net
www.southchasemortgage.com

Conventional, Jumbo, VA, FHA, USDA, Commercial, and Reverse
Purchase or Refinance

Talk about FAST!

CLEAR TO CLOSE in 11 Days from Southchase Mortgage

Loan was submitted on November 27th and received the Clear To Close on December 8th!

While this does not happen every time, it is not at all unusual.

 

Penny Phillips, CRMS, CMHS  NMLS 204553

Certified Residential Mortgage Specialist

Certified Military Home specialist

 

Southchase Mortgage NMLS 193181

2394 Miflin Road, Suite 201A

Foley, AL  36535

251-625-0444

Email: southchasemort@att.net

Web:  www.southchasemortgage.com

Conventional, FHA, USDA, VA, Reverse, Commercial

Purchase or Refinance

A Couple of Reverse Mortgage Myths

Myth #1– One of the biggest misconceptions about a Home Equity Conversion Mortgage (HECM) or Reverse Mortgage, is that the borrower is “giving up their home”.  This is categorically not true.  A Reverse Mortgage incurs a lien on the home just like any other loan, with one big exception- Reverse Mortgages are non-recourse loans.  This means that the only collateral for the lender is the property itself.  All contents of the home, as well as all other assets of the borrower are excluded from the loan. The borrower retains full ownership of the home, and is free to sell the home, or refinance the reverse mortgage into a forward mortgage, at any time.

Myth #2- Another misconception is that Reverse Mortgages are an assist for poor people, which is changing.  More and more affluent borrowers with multimillion dollar homes and healthy retirement assets are using Reverse Mortgages as part of their financial and estate planning to enhance their overall quality and enjoyment of life.

Are you or your spouse age 62 or older, and considering a Reverse Mortgage, and would like to speak to a local mortgage expert?

For over 17 years we have been helping Alabamians with forward and reverse mortgages, from Decatur to Gulf Shores, and all points in between.

We will be happy to talk with you, explain how these government-insured loans work, and answer any and all questions you may have.  We can do this over the phone, or if you prefer you are welcome to stop by our office in Foley, AL or we can come to you.  If you decide that this is for you, we will then guide you every step of the way.

 

Penny Phillips, CRMS NMLS# 204553

Southchase Mortgage NMLS# 193181

251-625-0444

southchasemort@att.net

www.southchasemortgage.com

 

Conventional, Jumbo, VA, FHA, USDA, Reverse

Purchase or Refinance

New Conforming Loan Limits (Updated)

New Conforming Loan Limits from Southchase Mortgage 12/1/17 (UPDATED)

The Federal Housing Finance Authority (FHFA) announced Tuesday that starting in 2018, Fannie and Freddie will have maximum conforming loan limits of $453,100 for single-unit properties, up from $424,100 in 2017.

We can offer this new Conforming Loan Limit NOW!!

Call for more information.

Penny Phillips, CRMS, CMHS  NMLS 204553

Certified Residential Mortgage Specialist

Certified Military Home specialist

Southchase Mortgage NMLS 193181

2394 Miflin Road, Suite 201A

Foley, AL  36535

 

251-625-0444

 

Email: southchasemort@att.net

Web:  www.southchasemortgage.com

 

Conventional, FHA, USDA, VA, Reverse, Commercial

Purchase or Refinance