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Andrew Saltman is one of the most professional and highly rated realtors in Jacksonville and Ponte Vedra Beach. His customers are always impressed by the services he provides to them, and he is very popular among the citizens with highly positive remarks and recommendations. Andrew currently works at 369 Financial LLC as a Mortgage Consultant, Real Estate Consultant, Budget Specialist, Wealth Specialist, Coach, Investor, Motivator, Owner, and Mentor at the company.
This highly talented and professional guy was not someone who always thought about his future in a real estate company working as a realtor. On October 16, 1980, Andrew was born in Trenton, New Jersey. He received his degree in finance from the University of Tampa. During these four years, he also worked for the New York Yankees in their accounting and finance department as a paid intern, which gave him work experience even before his graduation.
However, after graduation, Andrew invested his time traveling around the world and appreciating the beauty and nature. He visited 50 countries and 75 cities which gave him the experience of dealing with new and different people. In his 20s, he was also a professional tennis player working at several country clubs in Gainesville and Sarasota, Florida, while playing on and off the Futures Pro Tennis Circuit, the minor league to the ATP pro tour. He used to manage all the facets of the club, which included performing little tasks such as stringing racquets and late-night court maintenance and some vital tasks as well such as private lessons, coaching at the club level, dictatorship, clinics, and coaching several winning seasons of high school tennis in Gainesville, Florida.
Later, Andrew stood up in the election for Florida House of Representatives District 74. He won the Democratic primary but quit before the general election after moving to Jacksonville. Andrew bought his first home in 2010, and that was the moment when his wife highlighted to him his hidden skill in handling real estate and financial aspects. His time in 2012-2011 was spent changing his career from a tennis player to a realtor. He decided to switch jobs even though the country’s economic condition wasn’t good at the time. To begin his career in the real estate industry by working at several brokerages, he later found a position at 369 Financial LLC, where he works now. His current real estate and mortgage team are currently regarded as one of the most competent and highly professional teams in the area.
As a mortgage consultant, Andrew is well aware of the types of mortgage loans available for people who are looking to buy a home. He guides each of his customers through the types of loans that would best suit their needs, especially to the time home buyers who are not well aware of the different kinds of mortgage loans available. Andrew has also explained the type of mortgage loans available in his articles that are posted on the website of 369 Financial LLC. these include Federal Housing Authority, Veteran Affairs, U.S Department of Agriculture, Adjustable Mortgage rate, Jumbo loan, and Conventional loans.
Federal Housing Administration (FHA) Loan is for people who have less money to pay for the down payment or who have a low credit score. You can pay a 3.5% down payment when using an FHA loan. However, you will have to pay for the mortgage insurance for the life of the loan in many cases.
Veteran Affairs (VA) loan: this is a government-secured mortgage product available for veterans, military members, members of the National Guard, and some surviving military spouses. For this kind of mortgage loan, the individual does not have to pay any down payment or PMI, and only a small amount of processing fee is required. However, there are some restrictions regarding using the home you’ve purchased when using a VA loan, for example, a 60-day move-in timeline requirement and primary resident requirement.
U.S Department of Agriculture (USDA) loan is also a government secured loan. This type of mortgage is available for the low-income residents of the rural area who cannot obtain a conventional mortgage. The individual is not required to pay any down payment or PMI. However, the home must be in an area that qualifies for this mortgage type and has good credit.
A conventional loan is one of the most popular types of loan among people, and most people consider a convectional loan when they think of beginning their home search. To obtain this loan, you will need to have a good amount for the down payment. Typically, the down payment is 20% of the purchase price, but you can pay a lower amount. If you choose to pay a lower amount, you will have to pay for private mortgage insurance. In addition to a good amount of down payment, you also need to have a high credit score and a low debt to income ratio. Moreover, you can choose to have a fixed-rate conventional loan, ‘fixed’ here refers to the interest which will be decided at the time of purchase and will remain the same for the entire loan.
Adjustable Mortgage Rate (AMR), this mortgage loan is more suitable for people who are likely to sell or pay off their home quickly. ARM loan begins with a low-interest rate, which the lender can increase at periodic increments over the life of the loan (with a cap).
Jumbo loan: if you want to buy a very expensive home, a jumbo loan is for you. The requirements for this loan are similar to a conventional loan. However, the loan limits are higher.
First home buyers should always discuss their options with their lender, who can recommend the best mortgage for you and your home. It might be challenging to decide on the best mortgage loan when you do not have much experience, as this includes a long-term commitment of repaying the loan along with interest rate, so you need to be very careful.
