How Assumable Mortgages Work The process of assuming a mortgage involves a thorough examination of the buyer's creditworthiness by the lender. If the buyer meets the lender's criteria, they can take over the existing mortgage under its current terms. The buyer is then responsible for the remaining principal and interest payments. It's worth noting that while the mortgage is transferred, the property deed...
Imagine Florida's vacation rental scene as a wild, untamed garden. Now, enter Senate Bill 280, the gardener ready to transform this space into a harmonious, orderly paradise. Here's why Senate Bill 280 is the buzz everyone in Florida is talking about, and honestly, it's quite the showstopper. First off, Senate Bill 280 is setting the stage for a unified set of rules for all short-term rentals across the...
If you only associate investing with stocks and bonds, you might miss out on a powerful wealth-building tool: real estate. It's a proven way to create generational wealth, embraced by many millionaires. Real estate stands strong through time and economic fluctuations, making it a reliable hedge against inflation. Renting out properties not only provides financial freedom but also allows someone else to...
Forget scraping together a hefty down payment! Click n' Close SmartBuy throws open the door to homeownership even if your bank account isn't overflowing. It allows buyers to put 0% down when buying! Here's why this program is making waves: 100% Financing? Yes, Please! Gone are the days of dreaming wistfully about owning a home because saving for a down payment felt like climbing Mount Everest. Click n'...
In the realm of homeownership, a 4-point inspection report often holds significant importance. This specialized assessment delves into the crucial components of a residence, providing valuable insights for both homeowners and insurance providers. Let's delve into the intricacies of 4-point inspections and their role in safeguarding your investment. The Purpose of a 4-Point Inspection A 4-point inspection...
The Economist Intelligence Report was just released this year. They measure the highest cost of living and determine the most expensive cities to live in every year. The cost of living survey prices rose by 7.4% year on year in local-currency terms. This is down from the 8.1% increase reported in last year's survey, but it is still significantly above the trend in 2017-2021. Singapore maintained its...
The Daytona Beach City Commission donated seven city-owned lots for affordable housing to Mid-Florida Housing Partnership. A nonprofit that helps people get into affordable housing. The lots are located in the Downtown Redevelopment Area, the Midtown Redevelopment Area, and the Midtown neighborhood. The lots have an appraised value of just over $10,000. Two of the parcels are just under 2,300 square...
Florida Hometown Heroes starts today and allows you to purchase a home for $0 due a closing if you meet the following 3 requirements: You are a first time homebuyer or have not owned a home in the last 3 years You have a full time job Your credit score is 640 or higher Florida Hometown Heroes Important Points: Max amount $35,000 (5% of loan amount) Can be used for down payment and...
As a real estate agent, it's crucial to inform homeowners about cost-effective upgrades that can save them money. One such option gaining popularity is harnessing the power of solar energy. In this article, we'll explore solar tax credits and how they can help homeowners maximize their savings while making sustainable improvements to their homes. Solar tax credits are financial incentives provided by...
Rocket Mortgage just rolled out a new buyer program called ONE+. The down payment is one of the biggest obstacles home buyers face when they can otherwise afford a mortgage payment. ONE+ can help you get a mortgage by putting as little as 1% down. Combined with a 2% grant from Rocket Mortgage, you start with 3% equity! To be eligible for ONE+, you must: Qualify with less than 80% of the area median...