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Falls Village : Real Estate Advice

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Activity 2
Fri Oct 16, 2015
answered:
Hi Rivera_nia,

It's not really an incentive for 1st time home buyers but Grand Island Florida is an area that's eligible for the No Money Down USDA Mortgage.

One of the best things about the USDA program is the monthly mortgage insurance is substantially cheaper than FHA or conventional options.

For example: On an FHA loan of $150,000, the MMI (monthly mortgage insurance) would add $106.25 to your monthly payment but on a USDA mortgage it would only add $62.50!

The other nice thing is USDA will actually allow you to roll in your closing costs as long as the appraised value supports it.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/profile/john-burke-mortgage-broker-or-lender-austin-tx-993995/reviews
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Tue Apr 16, 2013
joypulv answered:
Taxes are higher here because the tax base is so low. Neighboring towns have many more multi million dollar homes and/or businesses (mostly the expensive homes) so the budget has to be charged to fewer people with cheaper homes. It has nothing to do with the schools. ... more
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