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Investment Properties in Bradenton : Real Estate Advice

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  • Local Info58
  • Home Buying161
  • Home Selling16
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Activity 2
Fri Apr 3, 2015
Diane Christner answered:
Basically the National Flood Insurance Program (NFIP) requires that if the cost of reconstruction, rehabilitation, addition or improvements to a building equals or exceeds 50% of the building's market value, then the building must meet the same construction and elevation requirements as a new building under FEMA guidelines.

Here's the fun part of "market value" -- the city of Sarasota, the county of Sarasota, the city of Venice, the town of Longboat Key, the city of North Port, the county of Manatee, the city of Bradenton, etc all have variations on how the 50% is calculated.

If you plan to renovate an older home that may fall under the 50% Rule, talk to the appropriate building department to see what is applicable to your home. Be wary of investor fix and flip remodeling that may not have had appropriate permits pulled to avoid the 50% threshold rule as project costs calculated into the 50% could include things such as built-in appliances, flooring, interior finishes, and other finishing materials in addition to structural related materials and costs.

Anyone looking to purchase or sell any pre-FIRM built home should verify the current flood zone designation of the structure (not just the lot). If the home is in a designated flood zone then you should take into consideration any major remodeling that has been done, especially if the quoted living space does not match that provided by the property appraiser's office.


Diane Christner, Realtor, GRI, SFR, CNE
Bright Realty
Sarasota, FL
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Mon Mar 11, 2013
Stephen McRory answered:
I can help, please call me to go over loan options.

1) 100% LTV- VA - pay off debt at closing on a purchases too!
2) 100% LTV- USDA - 12 mo. into Chapter 13 BK…OK Too!
3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property

------------STATED INCOME ALT Loan programs-------------
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX n’ FLIP Invest. Prop. – No min. credit!
13) 75% LTV-to Mega Jumbo
14) 75% LTV- Foreign Nationals-to Super Jumbo
15) 75% CLTV-after Short Sale, BK, Foreclosure to Super Jumbo
16) 70% LTV- Hard Money to Jumbo
17) Lot Loans / Land Loans Too!

Go to: WWW.PRO-OPTION-COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida
Ph: 888 662 4404

Prior Service U.S. Marine Corps
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