Should I refinance my home? Borrowing has been a costly endeavor recently, with elevated rates driving up the cost of everything from personal loans to credit cards and home equity loans. Nowhere is this more evident, though, than in the housing market. With the average 30-year fixed mortgage rate at 6.41% currently, today’s mortgage rates are in stark contrast…

Jacksonville is a major city in northeast Florida, known for its coastal beauty and urban amenities. The median home price in Jacksonville is $247K, making it an accessible option for a wide range of residents. Jacksonville ranks 31st for desirability, attracting new residents with its appealing lifestyle and growing economy. The city experienced a nearly…

What Is a Hard Money Loan? Hard money loans are short-term secured loans that use the property you’re purchasing as collateral. You won’t find one from your bank. Hard money loans are offered by alternative real estate lenders such as individual investors and private lenders that don’t use borrower credit scores and other individual factors…

Florida’s housing market shows contrasts: coastal condos struggle while inland single-family homes remain stable. Listings in Florida ↑ 50% over the past year, now representing 20% of US listings.

Expectations of a larger Fed rate cut than first thought likely have surged in light of a slowing economy The eyes of the mortgage industry are squarely set on government inflation data scheduled to be released this morning, with speculation growing that a weaker-than-expected reading could spur a jumbo September interest rate cut by the…

House prices may be higher in fall due to elevated summer closing values. Less competition in fall can be advantageous, but serious buyers are still active.

The 28% rule suggests spending no more than 28% of gross income on a mortgage. FHA allows up to 31% of gross income for mortgage payments, offering more flexibility.

Homeowners can deduct mortgage interest, property taxes, and mortgage points on their tax returns. Tax deductions require itemization; compare with the standard deduction for possible better tax benefits.

Demand for single-family rentals (SFRs) has increased, but inventory and days on the market are rising. National SFR inventory increased by 16.7% in the first half of the year.

HomeReady Mortgage Overview: – Targets low-to-moderate income borrowers – Requires 3% down payment – Flexible income sources included Down Payment and Assistance: – Down payment: 3% minimum – Sources: Gifts, grants, second mortgages – National Homebuyers Fund: up to 5% assistance