The Veterans’ Administration removed the price cap on VA mortgages on January 1st. That means if you’re a vet, you may qualify for a zero-down mortgage, with no limit on the price of the home. Due to the ballooning costs of single-family homes and condos around the U.S., veterans no longer have a price cap[…]
Financing real estate deals these days can be challenging, but doable with the right people. We highly recommend our preferred mortgage broker Rayce Robinson – we’ve been working with him for 10 years! Check out his 4 minute video that covers the difference between an FHA loan and a conventional loan.
If you buy and own your house for a long time, the 5% down payment on the conventional loan will save you a lot of money over the FHA down payment of 3.5% (assuming you have good credit). Rayce has a wealth of information on his website, and is happy to answer any questions you may have about your mortgage options.
We encourage our clients to get prequalified with Rayce. You’re not committed to using him, but he is able to help us get your offer approved when you find the right house.
According to WMFE when the recession hit in 2008 Central Florida experienced over 60,000 foreclosures per month. Thankfully today that rate has dropped to around 20,000 per month but Florida still maintains one of the highest foreclosure rates in the country. If you had to go through a short sale, foreclosure, or bankruptcy as a[…]