Destin Area Communities with Pickleball Courts

Pickleball is the Fastest Growing Sport in the Great USA! You can View Destin Area Properties for Sale in Communities with Pickleball Courts Located in Okaloosa and Walton Counties! Click on the link below: Destin Area Pickleball Communities  

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Down Payment Assistance for Retired Veterans Moving to Florida

The Florida Hometown Heroes Housing Program Makes Homeownership Affordable for Eligible Veterans. This program provides down payment and closing cost assistance for all Active Duty Military Members and Veterans. You must qualify and purchase a primary residence. You DO NOT have to be a first-time homebuyer! The Florida Hometown Heroes Loan Program also offers a low first mortgage rate and additional special benefits to those who have served and continue to serve their country. Down Payment and Closing Cost Assistance to income-qualified Homebuyers up to 5% of the First Mortgage Loan Amount (maximum of $25,000), in the form of a 0%, non-amortizing, 30-year Deferred Second Mortgage. Veterans Retiring and Moving to Florida are Eligible! This Second Mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of deed or if the Homeowner no longer occupies the property as his/her primary residence. County Loan Limits- Okaloosa & Walton-FHA/USDA $539,350 Conv/VA $647,200  Bay-FHA/USDA $420,680 Conv/VA-$647,200 County Income Limits- Okaloosa-$131,850 Walton-$118,950Bay-$118,950 The Florida Hometown Heroes loan is not forgivable.To Help Get You in Your New Home, I will Personally Rebate Up to $5000 Towards Your Closing Costs at Closing if You Use Me as Your Agent When Buying a Home! Rebate Amount is Based on Purchase Price. Contact Me Now For More Information 850-460-0704 Hometown Heroes Housing Program    

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Cost of Fair Credit Vs Excellent Credit

  Cost of Fair vs. Excellent Credit? $288 per Month A borrower with a “fair” credit score could pay $103,626 more over the life of a 30-year loan compared to a similar borrower with an “excellent” score. Potential buyers considering a home buy one day usually receive the same advice: Try to improve your credit score. For lower credit scores, home buying is out of the question. However even qualified buyers can pay less per month or opt for a bigger home if they improve their credit score before entering the market. According to a Zillow analysis, buyers with “fair” credit could be paying up to $288 more on their monthly mortgage payment than those with “excellent” credit. Rising mortgage interest rates means all homebuyers today can expect to pay around 62% more per month for a typical U.S. home than they would have a year ago. However, monthly increases are, according to the analysis, “exacerbated for millions of Americans with low credit scores or less than perfect credit histories.” A borrower with an “excellent” credit score (between 760 and 850) can qualify for a 30-year fixed-rate mortgage with a 5.099% interest rate. For the same loan, a similar borrower with a “fair” credit score (between 620 and 639) qualifies for a 6.688% rate. That equates to a $288 difference in monthly mortgage payments and nearly $103,626 in interest over the life of a 30-year fixed loan. The numbers are based on the current price of a typical U.S. home ($354,165). If you find you have low credit, take realistic steps to improve your credit score by doing things like disputing possible report errors and paying down as much debt as possible. This could increase the amount of home loan you qualify for. Cost to buy a typical U.S. home based on FICO credit scores Scores – Annual percentage rate760-850 – 5.099 % ($1,538 per month, $553,743 over 30 years)700-759 – 5.321 % ($1,557 per month, $567,739 over 30 years)680-699 – 5.498 % ($1,608 per month, $579,014 over 30 years)660-679 – 5.712 % ($1,647 per month, $592,782 over 30 years640-659 – 6.142 % ($1,725 per month, $620,882 over 30 years)620-639 – 6.688 % ($1,826 per month, $657,369 over 30 years) There is one fairly new exception to the credit score rules, however: Fannie Mae and Freddie Mac, which back over half of all U.S. mortgages, also consider on-time rent payments with borrowers’ permission. Many people have thin credit, usually because they don’t use enough credit services to create a credit score. Going forward, these people won’t find that it improves their credit score, but if lenders agree to consider on-time rent payments, it could possibly net them a lower interest rate, which would translate in a lower monthly payment and lower 30-year cost.

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