You already know all the same old reasons agents and different consultants suppose now is a good time to buy Orlando real estate. Right here are 4 reasons to buy Orlando real estate now that just may surprise you:
1. Houses are in tip-top condition. Instead of selling and moving into a more expensive home, many owners have invested their money in home upkeep, repair and updates, so says the Harvard College’s Joint Center for Housing Studies.
2. Outstanding homes are coming on the market. Many homeowners who have been waiting for the real estate market to take an upturn are now placing their homes on the market. And, these homes are in great form see (1) above.
3. Appraisals reflect reality. We can all be grateful that Fannie Mae adjusted its guidelines so that home appraisals may be more in alignment with in the present day’s real estate market. Which means more offers will make it all the way through to closing.
4. Housing programs. There are nonetheless packages to help people buy homes:
a. Workforce Housing Packages encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one among these applications with today’s low mortgage rates.
b. American Dream Downpayment Initiative (ADDI) supplies low-income first-time earners (single family: $44,400; family of 4: $63,450) with a city loan equal to 6% of the purchase price or as much as $10,000, whichever is greater. Every state receives ADDI funds proportionate to the percentage of the national total of low-income households residing in rental housing within the state, as decided by the most recent obtainable U.S. Census data.
c. Mortgage Credit Certificate Program is a federal tax credit (15% or 20% of the mortgage interest, relying on property location) that helps low and moderate earners qualify for a higher first mortgage and decreased federal income tax.
Talk with a mortgage specialist or Orlando real estate professional to find out which programs your state has funded.
Originally posted 2016-12-23 06:03:49.