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