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Florida Rental Market: Is the Storm Passing?
Florida rental market may be stabilizing after a period of rapid rent increases. A recent report suggests rents are leveling off or decreasing slightly in many cities.
Read MoreFirst Time Homebuyer? Master the Mortgage Maze
Boost your credit score: Aim for a high credit score, and improve it by: – Being on the electoral register – Paying bills on time. Prepare your bank statements: Show steady income, on-time bill payments, and enough savings for a home purchase.
Read MoreSecond Mortgage
Second mortgages are a type of loan taken out on a property that already has an existing mortgage. Here are some key points about second mortgages: Definition: A second mortgage is a lien on a property that is subordinate to the first mortgage. This means that if the borrower defaults and the property is sold…
Read MoreRefiannce My Mortgage
Refinancing your mortgage can be a good financial move under certain circumstances. Here are some steps and considerations to help you through the process: Review Your Current Mortgage: Understand the terms of your existing mortgage, including interest rate, remaining balance, and monthly payments. Check Your Credit Score: A higher credit score usually translates to better…
Read MoreFirst Time Homebuyer
Buying you first home is a significant milestone. Here are some key steps and considerations that might help you navigate the process: Assess your finances: Understand your budget, including how much you can afford for a down payment, monthly mortgage payments, and other costs like property taxes and insurance. Get pre-approved for a mortgage: This…
Read MoreDown payment assistance (DPA)
Down payment assistance (DPA) programs are initiatives aimed at helping individuals overcome the hurdle of affording the upfront costs associated with purchasing a home. These programs provide financial aid to cover part or all of the down payment and sometimes closing costs, making homeownership more accessible, particularly for first-time buyers or those with limited financial…
Read MoreFL Housing Bond Program
The Florida Housing Finance Corporation (FHFC) administers the Florida Housing Bond Program, which is designed to assist low and moderate-income individuals and families in obtaining affordable housing. The program utilizes tax-exempt bonds issued by the state to provide financing for affordable rental and homeownership opportunities. Key features of the Florida Housing Bond Program may include:…
Read MoreVA FUNDING FEES
The VA funding fee is a one-time fee paid to the Department of Veterans Affairs (VA) when taking out a VA-backed home loan. This fee helps to offset the cost of administering the VA home loan program. It’s typically a percentage of the total loan amount and varies depending on several factors, including the type…
Read MoreWaiting Periods for Significant Derogatory Credit Events
CONVENTIONAL *MUST RECEIVE AN AUS APPROVE/ACCEPT/ELIGIBLE, INCLUDING THOSE WITH EXTENUATING CIRCUMSTANCESPrevious Loan ModificationRefinance:• Fannie Mae/Freddie Mac: Permitted with previous modification (restructured mortgage to adjust the principal balance) provided the credit worthiness of the borrower and LTV are acceptable. Purchase:• Fannie Mae/Freddie Mac: Acceptable with both agencies, qualification based on payment history and remaining underwriting considerations.…
Read MoreDown payment assistance programs continue to be a valuable resource for homebuyers across the country.
We now offer an exclusive 0% Down Purchase program. Simply put, qualified borrowers / buyers receive a 3% down payment assistance loan, up to $15,000. This allows you to get into a home right now with no down payment. Here’s how it works: First lien mortgage meets LTV requirements We provide a second lien mortgage…
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