by Elsa Soto | Mar 25, 2019 | Blog, Buyers, Homeowners, Mortgages, News, Real Estate Components, Real Estate News
Central Florida’s Daily Mortgage Rates
Welcome to this weeks snapshot of Central Florida Daily Mortgage Rates! Does your goal list include spending time to invest your hard earned money into something that will continue to reward you, especially with ownership? Well, it should!!
BREAKING DOWN ‘Mortgage Rates’
The mortgage rate is a primary consideration for homebuyers looking to finance a new home purchase with a mortgage loan. Other factors also involved include collateral, principal, interest, taxes and insurance. The collateral on a mortgage is the house itself, and the principal is the initial amount for the loan. Taxes and insurance vary according to the location of the home and are usually an estimated figure until the time of purchase.
Source: Investopedia.com
Each mortgage rate is determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. A mortgage rate may vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgage rates as of today, Monday, March 25, 2019. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like.
We always recommend you speak with your local realtor to find the best loan program for your Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today by clicking on the ‘contact us’ link or by filling out the form above!
Source: Bank Rate
by Elsa Soto | Feb 21, 2019 | Blog, Buyers, Homeowners, Mortgages, News, Real Estate News
Dear homebuyers: Please stop thinking you need 20% down payment
NEW YORK – Feb. 18, 2019 – First-time buyer surveys consistently show the top hurdle to homeownership is saving up for the down payment. But potential home shoppers may be misunderstanding the amount of money they really need to buy a home.
“Paying 20 percent down is, quite frankly, a myth,” Karen Hoskins, vice president at NeighborWorks, told HouseLogic. “Most buyers pay only 5 percent to 10 percent down – some even pay zero.”Several assistance programs can help buyers with down payment concerns break into homeownership. For example, 69 percent of about 2,500 homebuying programs tracked by Down payment Resource offer down payment assistance. The average amount of assistance from these programs tops $11,000.
HouseLogic offers several places where buyers can search for down payment assistance, including through national government programs. The Federal Housing Administration offers loans to first-time buyers with down payments as low as 3.5 percent. Programs like the USDA Rural Development Loans and VA Home Loans offer eligible buyers zero-down payment loans. Mortgage financing giants Fannie Mae and Freddie Mac offer eligible buyers loans where they can put down as little as 3 percent of the purchase price.
When buyers put down less than 20 percent, they pay private mortgage insurance (PMI) each month to protect the lender’s interest, though the PMI can often be cancelled once they build up 20 percent equity in the property. Many state and local homebuying programs offer assistance programs too. There are many different forms of assistance, such as forgivable loans and grants (gifts for some or all of the down payment and closing costs) to soft mortgages (down payment assistance loans that are deferred for some period of time based on the program’s requirements).
Mortgage brokers should also be able to supply buyers with information about programs in their area and help determine eligibility.
SOURCE: © 2019 Florida Realtors®
by Elsa Soto | Jan 29, 2019 | Blog, Homes, Villas and Condos, Local Events, Mortgages, Real Estate Components, Real Estate News
Central Florida’s Daily Mortgage Rates
Welcome to this weeks snapshot of Central Florida Daily Mortgage Rates! Does your New Year’s Resolution include spending time to invest your hard earned money into something that will continue to reward you, especially with ownership? Well, it should!!
BREAKING DOWN ‘Mortgage Rates’
The mortgage rate is a primary consideration for homebuyers looking to finance a new home purchase with a mortgage loan. Other factors also involved include collateral, principal, interest, taxes and insurance. The collateral on a mortgage is the house itself, and the principal is the initial amount for the loan. Taxes and insurance vary according to the location of the home and are usually an estimated figure until the time of purchase.
Source: Investopedia.com
Each mortgage rate is determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. A mortgage rate may vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgage rates as of today, Tuesday, January 29, 2019. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for your Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today by clicking on the ‘contact us’ link or by filling out the form above!
Source: Bank Rate
by Elsa Soto | Jul 23, 2018 | Blog, Buyers, Homes, Villas and Condos, Mortgages, Property for Sale in Orlando
Daily Mortgage Rate
Welcome to this weeks snapshot of Orlando’s Mortgage Rate Monday! Take a look at the rates that have maintained over the last few weeks. Now has never been a better time to invest your hard earned money into something that will continue to reward you, especially with ownership!
Mortgage rates are determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. Mortgage rates vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgages rates as of today, Monday, July 23rd, 2018. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for you Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today!
Source: Bankrate.com
by Elsa Soto | Feb 23, 2018 | Long Term Rental, News, Property for Sale in Orlando, Renters
Is Homeownership a Part of Your American Dream?
Are You Ready for Homeownership?
According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.
The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.
So, what is holding renters back?
What would make renters take the plunge?
NAR’s Chief Economist, Lawrence Yun believes that,
“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”
Yun goes on to warn that,
“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”
So What’s The Bottom Line?
If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.
Are you a currently a tenant looking to achieve your goal in 2018? Don’t wait! As home prices are on the rise along with the changing mortgage rates, now is the time to get the ball rolling. Contact your Local Bardell Realtor® today to get some more information about your home purchase!
