Buying Florida

Didier Malagies
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Didier Malagies is a leader in the Tampa Bay Mortgage industry, serving Pinellas, Pasco, Hillsborough counties, and beyond with his sights set on educating residential and commercial buyers regarding Florida purchases. With over 20 years of expertise, Didier has built relationships with realtors, bankers, and clients based on integrity and his drive to provide the best customer experience in the state by being there from beginning to end of every purchase.Whether you're looking to move, invest, start a business or expand, Didier will share everything you need to know on his show every week. Didier Malagies nmls#212566/DDA Mortgage nmls#324329

  1. 1D AGO

    40% of all mortgages last year were refinances

    a large share of the refinances in 2025 were indeed driven by homeowners taking cash out of their home equity to consolidate debt or tap housing wealth, not just refinancing to get a lower interest rate. The data available on refinance activity in early and mid-2025 show this clearly: 🏠 1. Cash-Out (Equity Extraction) Was a Big Part of Refinances When mortgage rates stayed relatively high (often above ~6.5%), fewer borrowers could refinance purely to lower their rate or monthly payment. In that environment, lenders and borrowers often shifted toward cash-out refinances — where you borrow more than your existing mortgage and receive the difference in cash. According to Federal Housing Finance Agency (FHFA) data: In early 2025, cash-out refinances made up a majority of refinance activity — rising from about 56 % of refinances to roughly 64 % in the first quarter of the year. That means most refinance borrowers were actually pulling equity out. 💳 2. Cash-Out Often Leads to Debt Consolidation Borrowers commonly use the cash from a cash-out refinance to pay down higher-interest personal debt, like credit cards or auto loans. A Consumer Financial Protection Bureau report (covering broader refinance behavior) found that the most frequent stated reason for cash-out refinancing was to “pay off other bills or debts.” This happens because: Mortgage interest rates on large balances may still be lower than credit card or personal loan interest rates. Consolidating high-interest debt into a mortgage can simplify payments and reduce total interest costs — as long as the homeowner plans correctly and understands the risks of converting unsecured debt into home-secured debt. 📉 3. Rate-Reduction Refinancing Was Less Dominant Compared with past refinance cycles (especially when rates plunged), rate-and-term refinances — where the main goal is lowering your interest rate and monthly payment — were less dominant in 2025. The FHFA reports suggest that because average mortgage rates stayed relatively elevated during the first part of 2025, cash-out refinances became a bigger share — not just refinance for rate savings. 📊 What This Means in Simple Terms Not all refinance activity is about getting a lower rate. A substantial chunk of 2025 refinance volume was cash-out refinancing. Many homeowners took some of that cash to consolidate other debt, meaning part of the high refinance share reflects debt consolidation activity, not solely traditional mortgage refinancing for rate/term improvement. So yes — while refinancing to lower the rate still happened, a lot of the refinance volume in 2025 was linked to cash-out and debt consolidation purposes. This helps explain why refinance activity remained relatively strong even when interest rates weren’t plummeting. Let me know if you want some numbers or examples of how much debt consolidation affected total refinancing! tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    6 min

  2. JAN 29

    Asset based lending with no min fico score

    12-Month Bridge Loans with interest-only payments • Cash-Out Refis, Purchase Loans, Second Liens, and Portfolio Loans • Nationwide lending on non-owner occupied residential properties, including condos • No FICO minimum – We welcome credit-challenged borrowers • No income or employment verification • No seasoning required • No appraisal contingencies • We fund mid-foreclosure and past bankruptcy deals • Pure asset-based lending – • Closings in as fast as 3–5 days tune in and learn https://www.ddamortgage.com/blog Didier Malagies NMLS #212566 dda mortgage nmls#324329 Support the show

    1 min

  3. JAN 22

    Does your condominium association needs funds for a new roof or other big items

    1. HOA / Condo Association Loans (Most Common) These are commercial loans made directly to the association, not individual unit owners. Typical uses Roof replacement Structural repairs Painting, paving, elevators, plumbing Insurance-driven or reserve shortfalls Key features No lien on individual units Repaid through monthly assessments Terms: 5–20 years Fixed or adjustable rates Can be structured as: Fully amortizing loan Interest-only period upfront Line of credit for phased projects Underwriting looks at Number of units Owner-occupancy ratio Delinquency rate Budget, reserves, and assessment history No personal guarantees from owners 2. Special Assessment Financing (Owner-Friendly Option) Instead of asking owners to write large checks upfront: The association levies a special assessment Owners can finance their portion monthly Reduces resistance and default risk Keeps unit owners on predictable payments This is especially helpful in senior-heavy or fixed-income communities. 3. Reserve Replenishment Loans If reserves were drained for an emergency repair: Association borrows to rebuild reserves Keeps the condo compliant with lender and insurance requirements Helps protect unit values and marketability 4. Florida-Specific Reality (Important) Given your frequent focus on Florida condos, this resonates strongly right now: New structural integrity & reserve requirements Insurance-driven roof timelines Older associations facing multi-million-dollar projects Financing often prevents forced unit sales or assessment shock Many boards don’t realize financing is even an option until it’s explained clearly. 5. How to Position the Conversation (What to Say) You can frame it simply: “Rather than a large one-time special assessment, the association can finance the project and spread the cost over time—keeping dues manageable and protecting property values.” That line alone opens the door. 6. What Lenders Will Usually Ask For Current budget and balance sheet Reserve study (if available) Insurance certificates Delinquency report Project scope and contractor estimate Bottom Line Condo associations do not have to self-fund roofs or major repairs anymore. Financing: Preserves cash Reduces owner pushback Helps boards stay compliant Protects resale values Tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    6 min

  4. JAN 15

    Interesting stats on mortgages for 2025

    There are now more loans with interest rates over 6% than those with rates under 3%. 40% of the volume closed were refinances, and 30% of the loans done were NON-QM loans. There was a 10% drop in mortgage volume at the end of 2025, with a drop in interest rates. With 1.4 trillion in credit card debt,  it seems that 1.4 trillion in credit card debt may be the reason for the refinancing. It is interesting that the NON QM loans captured so much of the closed business, and will  only grow more in 2026 Popular program is the bank statement loan, which does not require tax returns, 1099's or W-2s If you are looking at doing a rate term refinance, remember to look for a 2% drop with no points tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    6 min

  5. JAN 8

    Do you need cash out, or consolidate, or have no mortgage payment

    💡 Option 1 — Cash-Out Refinance Meaning: Replace your current mortgage with a larger loan and take the difference in cash. Bankrate Often lower interest rate than a second mortgage because it replaces your first mortgage. Rocket Mortgage Can consolidate debt (e.g., high-interest credit cards) into one loan. Bankrate If you refinance to a lower rate, you can reduce monthly payments while getting cash. Sunflower Bank When it might make sense: ✔ You currently have a higher interest mortgage (e.g., 7%+) and could refinance into ~6% ✔ You want a single payment ✔ You’re using the cash for productive purposes (debt consolidation, home improvements) 🪪 Option 2 — Second Mortgage / Home Equity Loan (HELOC) Meaning: Take out a loan on top of your existing mortgage without replacing it. Better Mortgag Keeps your current mortgage rate and terms if they’re favorable. Better Mortgage You borrow only what you want — no resetting your main mortgage. Often easier/faster to access cash than a full refinance. 🔁 Option 3 — Reverse Mortgage Meaning: Available only if you are typically 62+ — you borrow against home equity and don’t make monthly principal/interest payments. Balance is due when you move or pass. FHA Can provide steady cash flow or a lump sum with no monthly mortgage payments. Useful in retirement when income is fixed. When it might make sense: ✔ You are retiree near retirement ✔ You want to boost retirement income without monthly payments ✔ You don’t plan to leave the home as a large inheritance 📊 Which Option Should You Consider (High-Level Guidance) ➡ If your goal is lower monthly payments + access to cash: → Cash-out refinance could be ideal if today’s rates are lower than your current mortgage. ➡ If you want cash but want to keep a great existing rate: → Second mortgage or HELOC may be better than resetting your core mortgage. ➡ If you are 62+ and need income without monthly payments: → Reverse mortgage might be worth exploring but only with deep planning (especially for heirs). 🧠 Bottom Line (2026 Real-World Thinking) ✔ Mortgage rates are lower than recent highs but not back to historic lows, meaning refinancing could still save money if your current rate is significantly higher than ~6%. Rocket Mortgage ✔ Cash-out refinance is often cheaper than a second mortgage because of lower interest, but you must be okay restarting your loan term. Rocket Mortgage ✔ Reverse mortgages are specialized tools — great for some retirees but not suited to everyone. FHA tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    6 min

  6. JAN 1

    Closing in January when the property taxes are super low

    When someone has lived in a home for many years, their property taxes are often artificially low because of long-standing exemptions and assessment caps (like Florida’s Save Our Homes). If you close in January of the following year, here’s what happens: What you get at closing Property taxes are paid in arrears At a January closing, the tax proration is based on the prior year’s tax bill That bill still reflects: The long-term owner’s capped assessment Their homestead exemption As the buyer, you effectively benefit from those lower taxes for that entire year Why the increase doesn’t hit right away The county does not immediately reassess at closing The new assessed value is set as of January 1 of the year after the sale The higher tax bill is issued the following year Timeline example January 2026 – You close on the home All of 2026 – Taxes are based on the prior owner’s low, capped value November 2026 – You receive the first tax bill, still using the old assessment January 2027 – Reassessment takes effect at the higher value November 2027 – You receive the higher tax bill Key takeaway You enjoy the lower taxes for the full year after closing The adjustment does not occur until the second year This is why January closings after a long-term owner can look very attractive up front—but the increase is delayed, not eliminated Why this matters Many buyers think the taxes shown at closing are permanent. In reality, they’re just on a one-year lag due to how property tax assessments work. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    1 min

  7. 12/25/2025

    Refinancing, are you being told the truth when they offer a super low rate and no closing costs

    Headline ads often quote temporary buydowns, ARM teaser rates, or perfect-credit scenarios that very few borrowers qualify for. The real, fully indexed 30-year fixed rate is meaningfully higher once you look at actual pricing. “No closing costs” usually means one of three things Lender credits: The borrower pays through a higher interest rate. Seller concessions: Only possible if the seller agrees — not universal. Costs rolled into the loan: Still paid, just financed over time. Rate buydowns are being marketed as permanent 2-1 or 1-0 buydowns lower payments only for the first year or two. Many borrowers don’t realize their payment will increase later. AI-driven and online lenders amplify the issue Automated platforms advertise best-case pricing without explaining: LLPAs DTI adjustments Credit overlays Property type impacts What customers should be told instead (plain truth) There is always a trade-off between rate and costs. If closing costs are “covered,” the rate will be higher. If the rate is lower, the borrower is paying for it upfront. There is no free money — just different ways to pay. How professionals are reframing the conversation Showing side-by-side scenarios: Low rate / higher costs Higher rate / lender credit Focusing on total cost over time, not just the rate Explaining break-even points clearly Given your background in mortgages and rate behavior, this kind of misrepresentation usually shows up late in the process, when the borrower sees the LE and feels misled. If you want, I can help you: tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    7 min

  8. 12/18/2025

    Fed dropped the rates but also did something from old playbook, printing 40 billion a month in QE

    If the **Federal Reserve cuts interest rates by 0.25% and simultaneously restarts a form of quantitative easing (QE) by buying about $40 billion per month of securities, the overall monetary policy stance becomes very accommodative. Here’s what that generally means for interest rates and the broader economy: 📉 1. Short-Term Interest Rates The Fed’s benchmark rate (federal funds rate) directly sets the cost of overnight borrowing between banks. A 0.25% cut lowers that rate, which usually leads to lower short-term borrowing costs throughout the economy — for example on credit cards, variable-rate loans, and some business financing. Yahoo Finance +1 In most markets, short-term yields fall first, because they track the federal funds rate most closely. Reuters 📉 2. Long-Term Interest Rates Purchasing bonds (QE) puts downward pressure on long-term yields. When the Fed buys large amounts of Treasury bills or bonds, it increases demand for them, pushing prices up and yields down. SIEPR This tends to lower mortgage rates, corporate borrowing costs, and yields on long-dated government bonds, though not always as quickly or as much as short-term rates. Bankrate 🤝 3. Combined Effect Rate cuts + QE = dual easing. Rate cuts reduce the cost of short-term credit, and QE often helps bring down long-term rates too. Together, they usually flatten the yield curve (short and long rates both lower). SIEPR Lower rates overall tend to stimulate spending by households and investment by businesses because borrowing is cheaper. Cleveland Federal Reserve 💡 4. Market and Economic Responses Financial markets often interpret such easing as a cue that the Fed wants to support the economy. Stocks may rise and bond yields may fall. Reuters However, if inflation is already above target (as it has been), this accommodative stance could keep long-term inflation elevated or slow the pace of inflation decline. That’s one reason why Fed policymakers are sometimes divided over aggressive easing. Reuters 🔁 5. What This Doesn’t Mean The Fed buying $40 billion in bills right now may technically be labeled something like “reserve management purchases,” and some market analysts argue this may not be classic QE. But whether it’s traditional QE or not, the effect on liquidity and longer-term rates is similar: more Fed demand for government paper equals lower yields. Reuters In simple terms: ✅ Short-term rates will be lower because of the rate cut. ✅ Long-term rates are likely to decline too if the asset purchases are sustained. ➡️ Overall borrowing costs fall across the economy, boosting credit, investment, and spending. ⚠️ But this also risks higher inflation if demand strengthens too much while supply remains constrained. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329 Support the show

    6 min
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Didier Malagies is a leader in the Tampa Bay Mortgage industry, serving Pinellas, Pasco, Hillsborough counties, and beyond with his sights set on educating residential and commercial buyers regarding Florida purchases. With over 20 years of expertise, Didier has built relationships with realtors, bankers, and clients based on integrity and his drive to provide the best customer experience in the state by being there from beginning to end of every purchase.Whether you're looking to move, invest, start a business or expand, Didier will share everything you need to know on his show every week. Didier Malagies nmls#212566/DDA Mortgage nmls#324329

Information

  • Creator
    Didier Malagies
  • Years Active
    2021 - 2026
  • Episodes
    352
  • Rating
    Clean
  • Copyright
    © 2026 Buying Florida
  • Show Website
    Buying Florida