Orlando Real Estate News

If you want to buy a home for the first time in Orlando or Central Florida, down payment assistance can make it possible for you to get the keys to your dream home right now! Many people searching for real estate in Orlando Florida want to buy a home to take advantage of the low interest rates that are prevailing now, but cannot save enough money to make the down payment.  

 Your lender, broker, banker, or Real Estate Agent will help you determine whether you qualify for government assistance in Orange, Seminole or other Central Florida counties, and to choose a suitable down payment assistance program.

Even if you have bad credit, you can still qualify for down payment assistance through special real estate loan programs. You can apply for these assistance programs, if you qualify for a loan, and can find a willing home seller.

When buying a home, you may not be able to qualify for government down payment assistance programs, due to bad credit, but you may still be able to get government assistance in the Orlando Florida area, if you have qualified for a low-interest fixed-rate loan.

The FHA (Federal Housing Administration) has helped millions of Americans to get their dream homes in Central Florida, since 1934. The FHA does not provide home loans or set interest rates. It only provides mortgage insurance on loans from FHA-approved lenders, against defaults. And in case you didn't know...it's not just for first time homebuyers!

An FHA loan can be used to buy or refinance a new or existing single family house, a condo unit, or a manufactured or mobile home, provided that it is on a permanent foundation.  

What benefits does the FHA Loan Program offer to those buying a home in Orlando Florida?

The FHA Loan Program offers many benefits, including competitive interest rates, and a smaller down payment. It also offers easier qualification, and there is no need to have perfect credit. Greater Orlando area home buyers get more protection, helping them to keep their homes.

The FHA Loan Program is ideal for first-time home buyers in Central Florida, who are worried about qualifying for home loans. It is also suitable for non U.S. citizens, those who don't have perfect credit, and those who want to keep their monthly mortgage payment as low as possible.

People who are concerned about being able to pay their monthly installments, and are worried that they may go up, can also opt for the FHA Loan Program.

Need more information about Orlando Real Estate, the home buying process or the FHA loan program?  Contact your local Seminole and Orange County Realtor today for a consultation.

Blue Skys For Orlando First Time Homebuyers!

I saw the following posted by Phil Slezak of the Slezak Realty Group in Raleigh, NC posted the following on a chat board, and I had to share it. This is HUGE for all first time homebuyers. Even if you're not a first time homebuyer, but have not owned a home in the past 3 years, you may qualify as a first time homebuyer. But hurry! The $8000 tax credit is only available through November 30th, 2009.  See Phil's message below!

"GREAT NEWS!! Tax Credit Can Be Used for Down Payment Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change. "We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C.. He says FHAs approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table."

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