Real Estate
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Sunny Mortgage
Mortgage Expert
A Mississippi Licensed Mortgage Company
Sunny Satchfield-Miceli
Principal Correspondent Lender, is a recognized leader on the Gulf Coast in Mortgage Lending for over 21 years. Since opening Sunny Mortgage Group, LLC in 2001, her company has closed over $240 million in loans. The Sunny Mortgage Group is licensed in MS, LA, AL, TX and can lend in several other states. She is a member of the Mississippi Association of Mortgage Lenders, National Association of Mortgage Brokers and Mississippi Home Builders Association. She has operated in the capacity of a regional manager, run by a big ten lender branch. She enjoys weekends at the beach, traveling and time with her family.
Kurt Satchfield
Kurt Satchfield is a co-owner and Senior Level Loan Officer at Sunny Mortgage Group. Kurt has been lending since 2000 and consistently maintained the Highest Producer Honor with each company. His expertise in builder accounts have awarded him preferred lender status to facilitate assisting homebuyers in new home communities.
He provides excellent service to borrowers, investors, realtors, and builders as he has a vast knowledge of all aspects of the lending process. As a lifelong resident of the Gulf Coast, he is focused on providing financing to borrowers in our community and building relationships for life.
David Goodin
David Goodin is a Mississippi Licensed Loan Officer and has been providing his customers mortgage and financing needs since 1993. He began Custom Mortgages in January of 2003 and continued to nearly double in size every year until 2007. In early 2008 he decided to join forces with Sunny Mortgage Group. His position at Sunny Mortgage allows him to offer services and greater flexibility to his clients. Call David today and let him help you with your mortgage needs.
Sean Murphy
Sean Murphy is a licensed Loan Officer in Mississippi. Prior to becoming a loan officer he was involved with real estate first as a property manager and later as a commercial loan originator. He specializes in first time homebuyers and little to no money down programs including the MS Home Corp bond program, FHA, and VA. Other loan programs include but are not limited to Jumbo, Stated, Interest-Only, Cash-out Refinances, and Investment Property loans. You can trust that he will find the mortgage loan that best fits your needs.
Most Recently Answered Questions
Questions 1 - 15 of 81 (Page 1 of 5)Submitted by TIFFANY COWAN from MOSS POINT, MS
Q: Sunny, I'm wanting to purchase my first home real soon,but have several question. 1). How do i find out if there is bond money, assistance with down payment or grants available for me, and how to apply?. 2). How do I search for the best interest rate? I'm told that everytime your credit is checked your score goes down. 3).What to look for when choosing a mortgage company as well as a realty?
Answered 06/25/08 17:22:02 by Sunny Satchfield Miceli
A: Bond money is generally always available, the rate will differ based on what issue is out at the time you purchase your home. You must use a lender that is approved with MS. Home Corp; suchas Sunny Mortgage Group. 2)When searching for competitive rates, you should consider the reputation of the company to assure they will not add fees at closing. Ask your coworkers, friends, family and your realtor. Compare all lender fees; often lenders quote lower rates but much higher fees. Your credit score will not change based on a mortgage inquiry for a period of 45 days. 3) Once again, I would recommend you ask about experiences other home buyers have had. Interview lenders and realtors and determine which one provides you the best service. Happy House Buying!!Submitted by vivian from gulfport, MS
Q: I am resident of Gulfport. My place of residency was destroyed in Katrina. My credit is far from great. I am interested in purchasing my first home. My debt ratio is low, however it appears that this does not make a difference anymore. I would like to become eligible for all resources available in order to get into my first home. I would like to avoid ajustable rates as well as high interest rates. HHHHHEEEELLLLPPPP!
Answered 06/11/08 17:36:17 by Sunny Satchfield Miceli
A: Sunny Mortgage Group offers a FREE mortgage consultation. If your current credit would not allow you to obtain financing immediately, we can prepare a plan that would provide you the steps to achieve home ownership in the near future and avoid high interest rates.Submitted by Ben Hinton from Gulfport, MS
Q: Hi Sunny, My question is not concerning your expertise. I am the new local business owner of The Entrepreneur's Source. In my business I coach people (who are interested in exploring career options) evaluate their goals, needs and expectations and discover what self-employment options are right for them. I am considering advertising with the "Ask the Experts" and would like to get your feedback on how it is working for you. Thanks for your time, Ben Hinton
Answered 05/15/08 18:41:36 by Sunny Satchfield Miceli
A: I believe this is an excellent venue to provide quality information to the public. Although I can not give you specific numbers, many clients and professional partners mention reading the articles and comment positively on their informative nature.Submitted by carlos carrion from lorain,ohio
Q: I have been on a chapter 13 with a debt of close to 7,000 i have been with the chapter 13 for a year and 3 months with perfect payments every month i rent at this time my rent is 380.00 a month i would love to perchase a house can i perchase a home if i am still under the chapter 13 and how would i go about it if i can ?
Answered 05/15/08 18:35:12 by Sunny Satchfield Miceli
A: Once you have been in a Chapter 13 for a year with a good payment history; you can be considered for a mortgage loan. Since there are some specific lender requirements when you have a Chapter 13, you would need to schedule an appointment and review your individual case. If you are not eligible immediately, we would counsel you and prepare a plan to position yourself for a mortgage loan in the future.Submitted by anonymous from gulfport
Q: I make about 38,000 yearly, have no debt, but my credit is not the best because of a past credit card bill which is now completely paid off. Can you tell me about your first time homebuyers programs with 100% financing and how much loan i might qualify for.
Answered 05/15/08 18:27:55 by Sunny Satchfield Miceli
A: it would be very difficult to tell you what you would qualify for without your total debt. Lenders like to use a benchmark of 28% for the housing expense ratio, however there are many other factors that go into the credit decision. I would recommend you attend one of our homebuyer seminars or schedule an appointment for a FREE mortgage plan.Submitted by Ken Brown from Ocean Springs, MS
Q: With the feds dropping intrest rates why aren't the fixed rate mortage rates dropping? Do you see them ever going to 5.0?
Answered 05/15/08 18:25:11 by Sunny Satchfield Miceli
A: There is a great deal of misunderstanding on the part of consumers regarding the Fed dropping interest rates. The Fed Funds Rate are short term rates which impact credit cards, Home Equity lines, car loans and the like. Mortgage Rates are based on Mortgage Backed Securities or Mortgage Bonds. Mortgage rates are still very low, when you compare a $100,000 loan at 5.5% to 5%, the savings is $30.96 per month.Submitted by Anonymous from biloxi, ms
Q: I understand that you have seminars to help inform first time home buyers. When are these held and is there a cost? Thanks so much!
Answered 12/19/07 21:43:47 by Sunny Satchfield Miceli
A: Our homebuyer seminars are held the first week of the month unless there is a greater demand and then we will schedule an additional seminar. There is no charge; Sunny Mortgage Group is dedicated to educating homebuyers in order to insure they make an informed decision. You are welcome to telephone and register for our next seminar.Submitted by Anonymous from Gulfport, MS
Q: I have been approved for a Rural Development Guaranteed Loan. Since Rural Development is the lending company, who would initiate the application for the MS Home Corporation 1st Time Home Buyer Grant? Also what are the homes in Saucier currently closing for per square foot?
Answered 12/19/07 21:10:14 by Sunny Satchfield Miceli
A: The lender which submitted your Rural Development Loan would submit for the MS Home Corporation Bond program. If the lender is not approved with MS Home Corporation you will not be able to take advantage of the program in conjunction with the Rural Development Loan. Unfortunately, I would not be qualified to give you average per square foot values; a professional realtor or appraiser would be able to assist you with that information.Submitted by Anonymous from Mobile Al
Q: I filed chapter 13 recently and currently I have an adjustable rate mortgage. How and when will I be able to get a fixed rate mortgage.
Answered 09/25/07 12:52:11 by Sunny Satchfield Miceli
A: One year of the Chapter 13 payout period must have elapsed and your payment performance must be satisfactory. Additionally, the court will have to give you permission to enter into a mortgage transaction.Submitted by Anonymous from biloxi, ms
Q: Goodmorning! What advice would you have for a first time homebuyer? I am very tired of paying rent each month and would like to start moving toward a place where I am prepared to start looking for a home to purchase. Where can I get information on programs offered to first time homebuyers? Are there programs still being offered? Any advice would be greatly appreciated! Thanks.
Answered 09/24/07 15:36:47 by Sunny Satchfield Miceli
A: I would advise you to interview lenders and discuss the various options available to you. Your lender should be prepared to provide you with a number of different scenarios specific to your individual financial goals. An estimate of your payments, closing cost and terms of the loan should be explained to your satisfaction. The Mississippi Home Corporation Bond program with the 3% advance is still available. Sunny Mortgage Group provides First Time Homebuyer and Homebuyer informational seminars on a monthly basis to advance consumer awareness.Submitted by Anonymous from Mobile,Alabama
Q: It was announced in your newspaper that if you have an adjustable rate mortgage you can qualify for a FHA loan. Can you tell me more about the article placed in your newspaper?
Answered 09/24/07 14:13:19 by Sunny Satchfield Miceli
A: The FHA Secure program would provide financing to borrowers who are delinquent on their current mortgage payments due to dramatically increased payments from adjustable rate mortgages. The borrowers must provide evidence that they were not delinquent prior to the increase along with a number of specific program requirements. FHA continues to offer refinances to credit approved borrowers up to 95% of appraised value.Submitted by Anonymous from Gulfport, MS
Q: Hi, my wife and I had a chapter 7 bankruptcy discharged in July of 2006. We are interested in purchasing our first home,as we almost certainly pay more in rent than a mortgage would cost, but have heard conflicting information about whether we could secure a mortgage until 2 or more years had passed since being discharged. My credit score is 670, while my wife's is 634. We currently have a combined annual income of about $52000, with our only debt being around $500 in student loan payments monthly. If it were possible to attain a mortgage at a higher interest rate, would we be able to refinance after some more time had passed? Also, is it possible to get a mortgage for purchase price plus money for remodel/repair, or would this have to be a seperate construction loan? Thanks
Answered 08/14/07 23:06:43 by Sunny Satchfield Miceli
A: In order to get the best interest rates your bankruptcy must be discharged two years regardless of your credit scores. Non-conforming financing would be an option for you, however most non-conforming programs have prepayment penalties. You can opt to buy out of the prepay, however the rate is very high. There are renovation loans available for homes which require repair but most of these programs are going to require the two years out of a bankruptcy. There are a number of options you may want to consider, however it would be difficult to assist you without knowledge of your long term goals.Submitted by Sheila from Gulfport, Mississippi
Q: What exactly is PMI insurance and is it required by law? I have been paying this in my mortgage for over seven years but yet everyone I talk to has never heard of it being added to mortgage payments.
Answered 08/14/07 22:52:59 by Sunny Satchfield Miceli
A: Private Mortgage Insurance. It is required to obtain conventional financing with a loan to value in excess of 80%. It reduces the risk to the lender, once you meet the 80% of value mark, PMI can be removed from your loan with the servicing lender's approval. Perhaps the homeowners you have questioned made a downpayment of 20% or more at the time they purchased their homes. Private mortgage insurance is always required on conforming conventional loans in excess of 80%. There are programs wherein the PMI is financed or lender paid, however the interest rate is higher; regardless of the way it is paid, private mortgage insurance is still required for any LTV greater than 80%. If you are paying your private mortgage insurance monthly, the payment breakdown should reflect the amount and the fact that it is going directly into your escrow account which is the most common application.Submitted by Anonymous from No location specified
Q: My son is wanting to purchase his 1st home and one has become available which he cannot pass up for $115,000.00. He is to be married in June but the home will have to be purchased before he is married. Would he qualify for the MS home bond loan? His gross income is $1760.00 a month but when he is married the combined income will be about $2700.00 monthly. Unfortunately his fiance is 19 and cannot cosign until they are married. Also exactly how does this program work? What are the requirements for the bond program, and what is a conforming mortgage loan? Thanks for your help.
Answered 08/14/07 22:39:33 by Sunny Satchfield Miceli
A: Your son and his fiancee can purchase the home together as long as she is emancipated. MS Home corp has an income limitation, however based on the income you provided, it appears your son and his fiancee are within the guidelines. The MS Bond Program is combined with an approval for conforming financing suchas, VA, FHA or conventional programs. MS Home Corporation is underwriting the loan only to assure the guidelines for the Bond program are met; they are not approving the credit and property. The borrower must be approved through the conforming loan product chosen first. The programs have extensive guidelines, please feel free to contact me directly for further details.Submitted by Anonymous from biloxi,MS
Q: My boyfriend and I are planning on purchasing a house. My credit score is good but his is not so good. Will the loan be based on his score or a combination of both of ours?
Answered 08/14/07 22:10:42 by Sunny Satchfield Miceli
A: It would depend on whether or not you need his income to qualify for the loan. If you will need his income, then his credit must be considered. The lender will consider the entire case to include the stability of income, assets, use of credit, etc; your good credit will certainly lend strength to your loan.