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Financing in Palm Coast : Real Estate Advice

  • All488
  • Local Info50
  • Home Buying115
  • Home Selling16
  • Market Conditions32

Activity 7
Wed Sep 17, 2014
Lauren Gilbert answered:
To provide you with the most accurate answer, I'll need you to be more specific. Obviously, building costs can vary greatly depending upon site location, building square footage, building type and soil conditions.

If you are still considering building in St. Augustine, I have 15 years of architectural design experience and would love to work with you. And if you are still looking for the perfect building site, I'm also a licensed real estate agent.

Warm regards,
Lauren Gilbert
o: 386-243-5066
m: 386-315-7444
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Thu Oct 24, 2013
Smile565565 answered:
Sat Dec 29, 2012
John King answered:
Hi Barbara!
Your mortgage would be determined by a number of factors. 1st would be the prevailing interest rate at the time you apply for a mortgage. 2nd & more importantly would be your credit worthyness. This is a formula that includes your credit score, job situation(Especially if you are self employed), front line & back line debt ratios & a number of other factors.

Here is a little example for you. Keep in mind that you stil have your yearly taxes & also homeowners insurance to factor into your payment. Call or email us if you have any other questions.

Price: $70,000
Percent Down: 10%
Years to Finance: 30 yrs.
Interest Rate: 3.925%
Payment: $298.05

Much Success,
John King
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Fri Dec 21, 2012
Ron Thomas answered:
Among the "Affordable" sector; as the squarefootage goes down, the dollars per square foot increases. That is the formula.
The way to increase the $$/sqft is by upgrading the house.
For this reason, you will see two 1500 sqft houses; one with $79/sqft and one with $120/sqft.
And, for this reason, you cannot rely solely on that statistic when determining the Value of a house.

Also, 2 identical houses, identical size, will have different $$/sqft depending upon their LOCATION.

The CMA that your Realtor does will take everthing into consideration for the true VALUE.
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Tue Dec 27, 2011
Alma Kee answered:
Hi Rose,

In Florida if a borrower just "walks away" and the lender forecloses, the borrower can be liable for 100% of the lender's loss including legal fees, etc.

So if you're trying to get from under a significant amount of negative equity and do not have a genuine hardship it may be difficult.

Have you considered renting out the Maywood house?

Try a credit union if you have difficulty getting a mortgage on the new house in DC.

Hope this helps.

All the best,
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Tue Mar 31, 2009
Julie answered:
Bridge loans are temporary loans that bridge the gap between the sales price of a new home and a home buyer's new mortgage, in the event the buyer's home has not yet sold. The bridge loan is secured to the buyer's existing home. The funds from the bridge loan are then used as a down payment on the move-up home. ... more
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