Financing News

Renovation Financing

• Interested in buying a house that will need work, but want to avoid going through the hassle of getting two separate loans.
• Need extra financing to improve newly purchased property.

FHA financing.

FHA’s Loan Limit for Broward County single family is $423,750.00
You have to put down 3.5% of your own funds into the transaction (which can all be a gift)
The New Up Front Mortgage insurance (financed is 1.75% on purchases).
Sellers can contribute 6% towards Seller closing costs and prepaids.

https://entp.hud.gov/idapp/html/hicostlook.cfm

Credit Myths Article- Sun-Sentinel

Five Home Buying Myths Article - Sun-Sentinel

Mortgage Matters Article - Sun-Sentinel

Maximize Tax Credits

New Property Appraisal Rules

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