What can you buy for $60,000

MLS 516518

Fish off the dock or enjoy a swim in the community pool.
Sold furnished.
Near the beach and major shopping.
One hour from Disney attractions.

For more information of homes for sale in the Greater Daytona Area and surrounding
communities go to http://www.beachhomesdaytona.com

MLS 512600

MLS 512600

Sold furnished and a short distance to the beach.
Fish off the dock or enjoy the community pool.
Move in ready condition.

For more information of homes or condos for sale go to http://www.beachhomesdaytona.com

Census information on Daytona Beach, Florida

Sources: Fl. Dept. of State; Visit Florida; US. Census Bureau; Bureau of Economic  Business Research (University of Florida); State of Florida.com

   1,000 People move to Florida each day

12 International Airports

1,200 Miles of Sand Beaches

1,250 Golf Courses

1,800 Miles of Coastline

14 Deepwater Ports

For more information about real estate in Daytona Beach area or Ormond Beach, Port Orange area of vacation homes, condominiums or homes on the beach, river or golf course go to:

http://www.beachhomesdaytona.com/

Speak to a loan officer. Ask questions!!!

MILES REYNOLDSCONTEMPORARY MORTGAGE SERVICES, INC PROFILE  Serving Volusia and Flagler Counties and all of Florida.  In business since 1985 with over 2 billion dollars in mortgages funded.  We offer Conventional, FHA, VA, USDA, FHA renovation loans and more.  We have multiple lenders that we can send a borrower’s loan to for loan approvals.  Rates competitive with banks. Zero point and zero origination fee loans available.  Free mortgage counseling, prequalification and preapprovals by phone or in person.
 MILES REYNOLDS, MORTGAGE LOAN OFFICER PROFILE  Has originated mortgages in this area since 1992 for Brokers and large banks.  Has originated and closed well over $100,000,000 in residential mortgages.  Specializes in FHA, Conventional and USDA Rural Housing Guaranteed loans.  Has done hundreds of Realtor seminars, presentations and office meetings.  Available evenings and weekends for applications or to answer mortgage questions. Please call me, Miles Reynolds, for all of your mortgage needs.
Cell: 386-290-6661 _                                  Office: 386-238-1511    
Email: miles@contemporarymortgage.com          
 A Licensed Mortgage Lender
CONTEMPORARY MORTGAGE SERVICES, INC. is a Proud Equal Housing Lender. Credit restrictions may apply. Programs and Rates are subject to change.

For more information of homes for sale at the beach, near the beach on the river or condominiums go to http://www.beachhomesdaytona.com/

Seven steps to take before you buy a home.

 

By: G. M. Filisko

Published 2010-02-10 11:24:53

By doing your homework before you buy, you follow these steps to ensure your home search is fun and productive.

Most potential homebuyers are a smidge daunted by the fact that they’re about to agree to a hefty mortgage that they’ll be paying for the next few decades. The best way to relieve that anxiety is to be confident you’re purchasing the best home at a price you can afford with the most favorable financing. These seven steps will help you make smart decisions about your biggest purchase.

1. Decide how much home you can afford

Generally, you can afford a home priced 2 to 3 times your gross income. Remember to consider costs every homeowner must cover: property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care if you plan to have children.

2. Develop your home wish list

Be honest about which features you must have and which you’d like to have. Handicap accessibility for an aging parent or special needs child is a must. Granite countertops and stainless steel appliances are in the bonus category. Come up with your top-five must-haves and top-five wants to help you focus your search and make a logical, rather than emotional, choice when home shopping.

3. Select where you want to live

Make a list of your top-five community priorities, such as commute time, schools, and recreational facilities. Ask your REALTOR® to help you identify three to four target neighborhoods based on your priorities.

4. Start saving

Have you saved enough money to qualify for a mortgage and cover your downpayment? Ideally, you should have 20% of the purchase price set aside for a downpayment, but some lenders allow as little as 5% down. A small downpayment preserves your savings for emergencies.

However, the lower your downpayment, the higher the loan amount you’ll need to qualify for, and if you still qualify, the higher your monthly payment. Your downpayment size can also influence your interest rate and the type of loan you can get.

Finally, if your downpayment is less than 20%, you’ll be required to purchase private mortgage insurance. Depending on the size of your loan, PMI can add hundreds to your monthly payment. Check with your state and local government for mortgage and downpayment assistance programs for first-time buyers.

5. Ask about all the costs before you sign

A downpayment is just one homebuying cost. Your REALTOR® can tell you what other costs buyers commonly pay in your area—including home inspections, attorneys’ fees, and transfer fees of 2% to 7% of the home price. Tally up the extras you’ll also want to buy after you move-in, such as window coverings and patio furniture for your new yard.

6. Get your credit in order

A credit report details your borrowing history, including any late payments and bad debts, and typically includes a credit score. Lenders lean heavily on your credit report and credit score in determining whether, how much, and at what interest rate to lend for a home. Most require a minimum credit score of 620 for a home mortgage.

You’re entitled to free copies of your credit reports annually from the major credit bureaus: Equifax, Experian, and TransUnion. Order and then pore over them to ensure the information is accurate, and try to correct any errors before you buy. If your credit score isn’t up to snuff, the easiest ways to improve it are to pay every bill on time and pay down high credit card debt.

7. Get prequalified

Meet with a lender to get a prequalification letter that says how much house you’re qualified to buy. Start gathering the paperwork your lender says it needs. Most want to see W-2 forms verifying your employment and income, copies of pay stubs, and two to four months of banking statements.

If you’re self-employed, you’ll need your current profit and loss statement, a current balance sheet, and personal and business income tax returns for the previous two years.

Consider your financing options. The longer the loan, the smaller your monthly payment. Fixed-rate mortgages offer payment certainty; an adjustable-rate mortgage offers a lower monthly payment. However, an adjustable-rate mortgage may adjust dramatically. Be sure to calculate your affordability at both the lowest and highest possible ARM rate.

More from HouseLogic

Learn how Fannie Mae and Freddie Mac mortgages can help you save on financing

Learn more about the costs of homeownership

Other web resources

Homebuyer counseling resources
Get a free credit report from each of the three credit reporting bureaus
G.M. Filisko is an attorney and award-winning writer who has thrice survived the homebuying process. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics

For more information of home for sale in the Greater Daytona Beach Area, homes near the beach, river front homes, condominiums or foreclosures go to http://www.beachhomesdaytona.com/

Now is the time to get that beach house!!!

Mortgage rates at an all time low.  FHA and VA just above 4% 

Only 3% down to purchase a beach house, golf course home, condominium or river front home for owner occupied homes.

For second home purchases only 10% down and you too can have a beach house, river front home, golf course home or condominium.

For more information of homes for sale, condominiums and foreclosures go to

http://www.beachhomesdaytona.com/

MLS 512694

MLS 512694

Very affordable vacation condo at the beach or live in year round.
Just across the street from major shopping.
Here is your chance to own your beach residence.

For more information of homes for sale near the beach or on the river
condominiums or foreclosures go to http://www.beachhomesdaytona.com