Month: May 30, 2014

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Buying a Home in South Florida May Be Cheaper than Renting

It is thought by many that renting a home is a lot better than buying a home. People think that it is feasible to rent then to buy. They think that they will be saving money. However, a recent report has shown that buying a home may be cheaper than renting. Kelly and John Foley moved to South Florida from Michigan. They started out by renting a two-bedroom house in Oakland Park for $1,650 a month. Later on, in March, they paid $190,000 for a three-bedroom house with a pool in Delray Beach. The new house is bigger than the place they were renting and they had a cheaper mortgage of which they paid only $1,430 a month. Kelly Foley is so happy with her decision of buying a new…
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2 More Mortgage Options that Require Zero to $100 Down

Continuing our discussion of mortgages in Boca Raton which do not require a down payment, here are the rest! There are two more mortgage options that home buyers can apply to that require zero to $100 down payment. Here they are. Please take note that this list will continue from the previous list shown in the blog before this one. Option #3: Zero-Down VA Home Loan Program The FHA is not the only government agency offering home buyers low down payments. The U.S. Department of Veteran Affairs has a VA loan for those who are members of the military. This is great! VA loans are specifically for veterans, both active duty military and the surviving spouses of the military members who passed away as a result of their service to…
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Ace Tops Other Mortgage Companies in Delray Beach

  Securing home financing in Delray Beach is a big deal for everybody, especially if it is the first time they have ever purchased a home. The process of getting home financing in Delray Beach is fairly standard no matter where you are. You will have to meet with brokers, bankers, and lenders throughout your home buying experience. All of these individuals regardless of their location, conduct business under the same laws and statutes. While specialists will be able to assist as they are proficient in lending laws, doing your own research on the side is a crucial step towards making strong financial decisions. Companies such as Ace Mortgage Loan Corporation can serve as an outstanding resource once somebody figures out what they want in a home. Since it is…
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2 Mortgage Options that Require $100 or Less Down Payment

  A large down payment shouldn't be what keeps people from buying a home they really want. There are some special programs that might be able to get you a loan with as little as zero to $100 down. It comes with a little bit of a cost, but it might be worth it in the long run. President of ALV Mortgage in Salt Lake City, Utah, Anthony Van Dyke said, “These programs typically come with a higher interest rate, but for the right borrow [they] are a great alternative to renting.” The reason for such a high rate is because of the potential risk for lenders as borrowers put less money down in a home purchase. Moreover, the lower the down payment, the higher the monthly payments will be…
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Good News for Mortgages in Boca Raton

The mortgage market, also known as the housing market is getting better. There have been some improvements in the number of applications for home loans. This is great news. This means that there is still hope for homeowners and first-time buyers. There is light coming from the end of the tunnel. For months, homeowners have seen the housing prices get higher and higher. Nonetheless, it seems that the page is finally turning for the better. According to the Mortgage Bankers Association, for the week that ended May 2, the amount of applications for home loans increased 5.3% on a seasonally adjusted basis compared to the week before that. There was a 6% index gain on an unadjusted basis. Things are looking better for the mortgage market. More people are refinancing…
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Mortgage Payments in Coral Springs Are Cheaper than Rent

  It is thought by many that renting a home is a lot better than buying a home. People think that it is feasible to rent then to buy. They think that they will be saving money. However, a recent report has shown that buying a home may be cheaper than renting. Kelly and John Foley moved to South Florida from Michigan. They started out by renting a two-bedroom house in Oakland Park for $1,650 a month. Later on, in March, they paid $190,000 for a three-bedroom house with a pool in Delray Beach. The new house is bigger than the place they were renting and they had a cheaper mortgage of which they paid only $1,430 a month. Kelly Foley is so happy with her decision of buying a…
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Fixed-Rate Mortgages in Coconut Creek in High Demand

  Multiple mortgage companies can be found in Coconut Creek. There are numerous options for those looking for a home mortgage. Just by glancing over the surface of it all, understanding the home loan process isn’t all that difficult. What basically happens is you get money to buy a home through a loan that is given to you by a mortgage lender, and then you pay that money back with interest. Interest rates are constantly in flux. Currently, the mortgage rate is at around 4.2% or so.  With that said, you will be paying back more money than you borrowed due to interest. That’s the price you have to pay for getting a home loan. Here is a list of home mortgage loans available in Coconut Creek: Fixed-rate mortgages Adjustable-rate…
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FHA Back to Work Program Helps Homeowners Again

  There are an increasing amount of homeowners who have either sold their homes in a short sale or lost their homes in a foreclosure. Normally, in either situations, the homeowners would have to wait for 36 months to pass by until they would be able to buy a primary residence again with an FHA fixed-rate loan. Amazingly enough, the FHA Back to Work Program has been extended all the way through September 30, 2016, giving potential buyers an opportunity to purchase a primary home in just 12 months after a short sale or foreclosure. The FHA Back to Work Program was first announced in 2013. It strives to fulfill one heavy-weighted goal and that is to offer families a second chance at homeownership. To qualify for this program, the…
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The Mortgage Market Improves

The mortgage market, also known as the housing market is getting better. There have been some improvements in the number of applications for home loans. This is great news. This means that there is still hope for homeowners and first-time buyers. There is light coming from the end of the tunnel. For months, homeowners have seen the housing prices get higher and higher. Nonetheless, it seems that the page is finally turning for the better. According to the Mortgage Bankers Association, for the week that ended May 2, the amount of applications for home loans increased 5.3% on a seasonally adjusted basis compared to the week before that. There was a 6% index gain on an unadjusted basis. Things are looking better for the mortgage market. More people are refinancing…

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