Affordability | Florida Mortgage Experts

Buying Your First Home? FHA Loans Can Help

Written by Florida Mortgage Experts Syndicate User on June 10, 2025. Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, Mortgage Rates.

If you’re a first-time homebuyer, you might feel like the odds are stacked against you in today’s market. But there are resources and programs out there that can help – if you know where to look. And one thing that can make homeownership easier to achieve? An FHA home loan.They’re designed to help you overcome some of the biggest financial hurdles in the homebuying process – and that’s why so many first-timers are using them to make their purchase.Whether you’re dreaming of ditching rent, planting roots, or just wanting a place that’s truly yours, an FHA home loan could be the path that...

Newly Built Homes May Be Less Expensive Than You Think

Written by Florida Mortgage Experts Syndicate User on June 3, 2025. Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, Home Prices, New Construction.

Do you think a brand-new home means a bigger price tag? Think again.Right now, something unique is happening in the housing market. According to the Census and the National Association of Realtors (NAR), the median price of newly built homes is actually lower than the median price for existing homes (ones that have already been lived in):You read that right. That brand new, never-been-lived-in house may cost less than the one built 20 years ago in a neighborhood just down the street. So, if you wrote off a new build because you assumed they’d be financially out of reach, here’s what you...

The 20% Down Payment Myth, Debunked

Written by Florida Mortgage Experts Syndicate User on May 6, 2025. Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers.

Saving up to buy a home can feel a little intimidating, especially right now. And for many first-time buyers, the idea that you have to put 20% down can feel like a major roadblock.But that’s actually a common misconception. Here’s the truth.Do You Really Have To Put 20% Down When You Buy a Home?Unless your specific loan type or lender requires it, odds are you won’t have to put 20% down. There are loan options out there designed to help first-time buyers like you get in the door with a much smaller down payment.For example, FHA loans offer down payments as low as 3.5%, while VA and USDA...

The Perks of Buying a Fixer-Upper

Written by Florida Mortgage Experts Syndicate User on February 7, 2025. Posted in Affordability, Buying Tips, For Buyers.

There’s no denying affordability is tough right now. But that doesn’t mean you have to put your plans to buy a home on the back burner.If you’re willing to roll up your sleeves (or hire someone who will), buying a house that needs some work could open the door to homeownership. Here’s everything you need to know so you can decide if this is the right move for you.What’s a Fixer-Upper?A fixer-upper is a home that’s livable but requires some renovations. Think cosmetic updates like wallpaper removal and new flooring or more extensive repairs like replacing a roof or updating plumbing.While...

Two Resources That Can Help You Buy a Home Right Now

Written by Florida Mortgage Experts Syndicate User on January 30, 2025. Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers.

A recent report from Realtor.com says 20% of Americans don’t think homeownership is achievable. Maybe you feel the same way. With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge. But here’s the thing. With the right resources and help, you can still make it happen.There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into your first home no matter the market.1. FHA LoansIf your down payment savings...

Is a Fixer Upper Right for You?

Written by Florida Mortgage Experts Syndicate User on November 5, 2024. Posted in Affordability, Buying Tips, For Buyers.

Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.What Is a Fixer Upper?A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like...

What To Expect from Mortgage Rates and Home Prices in 2025

Written by Florida Mortgage Experts Syndicate User on October 22, 2024. Posted in Affordability, For Buyers, For Sellers, Home Prices, Mortgage Rates.

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.Whether you’re thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.Mortgage Rates Are Forecast To Come Down One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease...

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Florida Mortgage Experts Syndicate User on October 17, 2024. Posted in Affordability, Equity, For Buyers, Home Prices, Mortgage Rates.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has...

The Top 3 Reasons Affordability Is Improving

Written by Florida Mortgage Experts Syndicate User on October 5, 2024. Posted in Affordability, Home Prices, Infographics, Mortgage Rates.

Some HighlightsAffordability is based on three key factors: mortgage rates, home prices, and wages.And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, connect with an agent to talk about why now may be the perfect time to jump back in.