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Checklist for New Home Buyers

June 25th, 2019 by tisner


Closing day has finally come and gone – you’re almost finished packing for your move, and let’s face it you are BUSY! But, it is important to slow down to take note of a few things that should be done before and soon after you move in.  Go down this list of must-do’s so you’ll be safe, secure and happy in your new home:
 

  • Change all of the entryway locks, keypad codes, and make plans to get a security system set up. 
  • Have utilities turned on in your name, as well as television provider and internet.   
  • Deep clean the new house, even if it looks clean.  This job can be hired out, or you can DIY if time permits.  Keep in mind costs involved with renting any necessary equipment, as well as cleaning product expenses. 
  • Plug in/turn on all appliances, to make sure they’re in working order. 
  • Walk through the house to check for minor things that didn’t warrant repair by the seller. Having your copy of the home inspection in hand will help you find the problem areas that may need to be addressed before they get too big and too costly. 
  • If you want update the home’s color palette with a fresh coat of paint, or do any other small improvement jobs consider getting them done before move in day. This will allow for the painting and repairs to be finished easier and faster before settling in with added obstacles. 
  • Typically sellers leave the window treatments, but in case they didn’t be sure to measure the windows. Allow for time and budgeting to purchase and install shades or blinds until curtains or shutters can be hung. 
  • Let everyone know your new address:  relatives and friends, of course, but also medical offices, your employer, schools, and other important people that communicate by mail. 
  • Create a homeowner folder to keep all of your important papers. Be sure to store it in a safe and easily accessible place. 
  • Meet your neighbors!  Once you’ve moved in, introduce yourself and your family by hosting a front porch social, with light refreshments.  Slip invites in mailboxes and simply ask them to stop by to say hello.  

Once you get settled in, you’ll need to get into a homeowner frame of mind.  You will have things to keep an eye on and maintain on a regular basis. Bob Vila’s home checklist gives you an idea of what you’ll need to check regularly. 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Photo credit: certifiedmoldassessments.com

Workshops for First-Time Homebuyers!

March 12th, 2019 by tisner

Workshops for First-Time Homebuyers
That’s right–classes for home buyers!  If you’re just starting out on your home-purchase process, you may get overwhelmed when you find out all that’s involved.  Sadly, it’s not as easy as finding a house, paying for it, then moving in.  It’s a great idea
 to learn all you can about the process as well as being a homeowner. 

  • Don’t wait until you’ve found a house you want to purchase before signing up!  Find a course that will help you learn the ropes from house-hunting to closing so you’ll feel confident when you contact a Realtor to begin your search. 
  • Credit counseling is best done about six months before you start looking at homes, so you can learn about improving your credit score, as well as creating a budget and sticking to it.  You want the highest credit score possible so you can receive pre-approval for a mortgage. 
  • Don’t have enough saved for a 20% down payment?  A workshop will help you find a program that will assist you with finding low down payment programs, as well as if there are any grants available in your community. 
  • HUD-approved counseling agencies usually offer one-on-one sessions so you can get a better understanding of your own personal financial situation, as well as answer any specific questions you may have. 
  • Many workshops have more than one “instructor;” you will hear from lenders, appraisers, inspectors, and insurance agents that will discuss their roles in the home-buying process. 

When dreaming of buying your own home, don’t let all of the information overwhelm you and keep you from even trying! If you are pressed for time with work and family, online course may be for you!  All it takes is this first step, and you’ll find that a home-buyer course will show you won’t be alone on the road to home ownership.   

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: rethinkingdebt.org

Buying an Older Home

February 19th, 2019 by tisner

Buying an Older Home

Many people dream of living in an older home, whether it be a 100-year old farmhouse, or a vintage ranch from the 50’s.  There are certain things that should be taken into consideration, good and bad, when that dream starts to become a reality, and you’re on the hunt for an old new home.  

  • If the house was built before 1978, make sure the home inspector looks for lead paint and asbestos, as both can be health hazards. 
  • Have the foundation thoroughly checked if it is original to the house.  Even the most solidly-built houses can have settling, water damage or corrosion. 
  • Not only are older mechanical systems likely to fail since they’re at the end of their lifespan, they are less energy-efficient.   
  • Plumbing and electrical systems can be old enough that they need to be replaced; old pipes can affect water quality and worn out wiring can be a fire hazard. 
  • Unsafe features that may be charming may not be up to current code.  Check for steep stairs, non-working fireplaces, and laundry chutes, especially if you have younger children. 

While all those things are expensive solutions, there are some things that you can’t get with a newer home: 

  • Older homes are usually in established locations, and are in good school districts, as well as being close to shopping and restaurants. 
  • Houses built before the 1970’s are generally sturdier, simply because the lumber used to build them was made from old growth hardwoods, something that isn’t available today. 
  • The lots in areas where you find older homes are usually larger, and that may mean more maintenance, but it also means more room for playing, pet exercise, and outdoor entertaining. 
  • You just don’t get the charm and character in new construction like you do in an older home, even if the styles are similar. 
  • Prices of older homes are usually lower, unless there is historical significance to the house itself or to the area. 

Do your research, list the pros and cons as they pertain to your life.  No matter what age house you finally decide to buy, the choice should be made because it’s what is best for you and your family.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: southernfriedmagazine.com

Terms First-Time Homebuyers Should Know

February 5th, 2019 by tisner

Terms First-Time Homebuyers Should Know
The time has come to begin the steps of buying your first home and looking around the internet and other real estate-related media, you’re finding there’s a lot more to know than finding a house, getting a loan, and signing papers.  There are some key words that can be unfamiliar to a first-time home buyer, so familiarize yourself with these lesser-known terms so you’ll have fewer questions and stumbles along the way: 

  • In order to be certain that the home is worth the amount of the loan, there will be a home appraisal performed by an unbiased inspector of the lender’s choosing. 
  • At the final paper-signing, the buyer is required to pay closing costs, which normally include attorney fees, surveyors, inspections, and title insurance, among other things.  Be prepared to have 2-5 percent of the purchase price for closing costs. 
  • If you’d like to pay less interest over the time of your loan, you can purchase discount or mortgage points.  To learn more about this option, check out these tips from the Nerd Wallet website. 
  • Earnest money is money that will be paid to the seller to show good faith of the buyer towards the home purchase.  It will be applied to your down payment. 
  • When you have funds in escrow, you will have given funds to a third party to hold until they have verified that inspections, disclosures or any disputes have been resolved.  Keeping it in escrow protects your deposit before you sign the final contract to buy your new home. 
  • Pre-approval is very important and differs from being pre-qualified.  If you’re pre-approved for a loan amount, you have a realistic expectation of what you can buy. 
  • If your down payment is less than twenty percent of the purchase price, you will pay private mortgage insurance typically until that amount reaches twenty percent of the loan or home value. 
  • Your lender will require the purchase of title insurance, which protects real estate owners and lenders against any property loss or damage for whatever reason.  Learn more about what title insurance is and what it covers from the CFPB. 

There are other terms and abbreviations you may find in your search for a house in their descriptions and about real estate in general that you won’t be familiar with.  Here’s a longer, more comprehensive list from realtor.comⓇ.  The more you know before you get started, the smoother the home-buying process will be!

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: stevendiadoo.com

Is it okay for a buyer to move in before closing?

December 19th, 2018 by tisner

Average homeowner gained $12K in equity in 3Q
Dec. 3, 2018 – Buyers often anxiously await closing so they can enter their new home. In some cases, however, they ask if they can move a few things in early so they can hit the ground running. In other cases, the buyers may have a time gap between closing on an old home and moving into their new one.

As a result, it’s not uncommon for a buyer to ask a seller if they can move a few things in early, either possessions or themselves.

Nice sellers often try to accommodate nice buyers, but there are dangers to allowing someone to move in early. According to Cara Ameer, a broker associate with Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Florida, who writes for Inman News, there are six good reasons for a seller to say, “No, I’m sorry you can’t,” when a buyer asks for early access to a home.

1. Who broke it?
A buyer moves in early, and the sink plumbing springs a leak. Will the buyer now fix it – should the buyer fix it? What if the buyer somehow thought the sink could support a grown adult and sat on it? Who pays?

2. Liability
If the buyer and seller have not signed any kind of pre-occupancy or lease agreement, what happens if something worse than leaky plumbing occurs, such as a major injury? The seller may be liable. In addition, what happens if wooden floors get scratched as movers drag new furniture across a room? What if a hurricane destroys everything the buyers stored in the garage?

Even with proof that the buyer caused damage, it could become a new negotiating point the buyers use to request further concessions from the seller.

3. “I didn’t notice this before …”
Most houses have a small chipped something or temperamental item. If buyers move in early, it’s like a “never-ending walkthrough,” Ameer writes. Buyers could discover minor problems and try to “renegotiate issues that were never raised as a result of inspections or repairs.”

4. Early repairs
Buyers who move into a new home often feel as if they own it, even if money has not yet switched hands, and start to think: “Why wait another week to start tearing out the kitchen cabinets?”

Ameer says the “list of what-if scenarios is endless.” Paint can spill, contractors can fall and lawn people can break sprinkler heads. Overall, there’s a great chance that the seller – or his insurance company – will be responsible for any pre-closing damages to both people and properties.

5. Buyer’s remorse
During a showing, a house can be the American Dream, but that feeling can fade once buyers realize it’s also a lot of work. Or perhaps the buyers continue to look at new homes that come onto the market, and one is a bit dreamier than the American Dream they’re preparing to buy.

If a situation arises where the seller can also lose a deposit, they’ve lost time and money pulling their home off the market while waiting for the buyers to change their mind.

6. A loan falls through

Perhaps a buyer, once inside “their” new home, buys furniture and dings their credit score – or maybe something else happens, including things like wire fraud that sends the buyers’ mortgage money to a criminal organization in Siberia.

Sellers want to get their home on the market quickly if a deal falls through, but this creates a whole set of other possible problems, especially if the buyer has no immediate place to go. In addition, a ready-to-show home that has been lived in for three weeks might need to be cleaned again.

While there may be a good reason to allow buyers access to a listing before closing, good-hearted sellers who say, “Sure, go ahead,” as soon as their buyer asks for early access should at least take a few minutes first to consider all the possibilities.

“In the event you have sellers willing to allow buyers in early, you should recommend, in writing, that the parties get a pre-occupancy agreement – preferably one drafted by an attorney – in place before moving forward,” recommends Meredith Caruso, Florida Realtors’ manager of member legal communications.

Source: Inman News, Cara Ameer, broker associate with Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Florida

© 2018 Florida Realtors®

https://www.floridarealtors.org/NewsAndEvents/article.cfm?id=374444

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

When Not to Spend the Money

November 27th, 2018 by tisner

home-buying tips

Bigger is better almost all of the time, except when it comes to the amount you’re spending on a new home.  There are certain things that we should look for in a new house, but also things we shouldn’t.  If this is your first time buying a home, and you know the budget will be tight, plan well enough, and you’ll better manage the expense of being a homeowner.   

  • Decide before you start house hunting how much you can spend.  We can’t say it enough:  plan a budget and stick to it. 
  • Just because you are approved for a certain loan amount, it doesn’t have to be spent. If you can find a house that you love for less than the approval limit, then go with it.   
  • If you do find a house at a “great price,” find out why it’s priced to sell.  Talk to neighbors, do some internet sleuthing, and make sure you’re making the right decision to buy it when everyone says it’s a “steal.”   
  • Getting a house in a great school district is wonderful, but if you don’t have children, or will likely move once you do, don’t spend the extra to move into an area that is probably higher priced because of the quality of local education. 
  • When it comes to the kids, do they really need a play or media room?  If your children are involved in after-school activities and spending a lot of time at practices, rehearsals and lessons, then the extra space won’t be used often.  The extra cost in the purchase price–not to mention the utilities to heat and cool the rooms–will be money wasted. 
  • That same thinking goes hand-in-hand with living in a bigger house, period.  Larger houses will cost more in insurance, taxes, and utilities.  Even if your mortgage payments will likely be cheaper than your current rent, the extra costs can hurt your wallet once you move. 
  • If you’re not the type that likes to do yard work, or if you don’t want to spend your time off work mowing, raking, weeding and trimming, then a large beautiful yard isn’t worth the money.   
  • A house that needs simple cosmetic updates is great for those who have the time and money to perform these jobs themselves, but if you buy a house that’s within your budget with the intent to do extensive work, it may cost you much more in the end. 

The wisest thing to do during the home-buying process is take your time and think practically.  Have your needs at the top of your house-hunting list, and your wants further down. Falling in love with an amazing house can cloud our home-buying decision.  You don’t want to spend your days in an amazing house worrying about how you’ll pay for it.  Buy what you can afford, and what you’ll truly live in and enjoy.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: daveramsey.com

Buyer Mistakes to Avoid

September 26th, 2018 by tisner

Buyer Mistakes to Avoid in Orlando FL

In today’s instant gratification society, finding out just how much time the home-buying process can take surprises some first-time home buyers.  Patience is a virtue when it comes to buying a home, and mistakes can be made, slowing the process down.  These tips should help you avoid common errors a home buyer can make: 

  • It may sound like it should be worn out by now, but make sure your credit is in good standing. 
  • Don’t overestimate how much you can afford.  If you’re just able to scrape the rent payment together every month, don’t look at homes where your loan payment will be equal to or more than the rent. 
  • Be certain you have enough for your down payment saved, as well as other up-front costs.   
  • Get pre-approved, not pre-qualified, for a home loan.  Talk to different lenders to line up the best deal for you. 
  • Speaking of loans, there are plenty of programs to assist first-time home buyers in paying a lower than 20% down payment, as well as those with credit issues, and lower income.  Go to realtor.comⓇ for a list of the different programs. 
  • Once you’ve applied for a mortgage, don’t apply for any other credit:  applying for a loan for a new car, credit cards, or even new furniture to go in your new home can hurt your credit score in the mortgage process. 
  • Don’t underestimate open houses in the area you’re wanting to relocate to.  It can give you a good idea of what’s available, get a look at different neighborhoods, as well as the home prices.  You may even find your new home! 
  • Look at more than one house, unless it’s a family home, or other special situation.  Upon visiting each house, keep a record of the ones you like, and a list of the pros and cons of each one.   
  • Think ahead; if you have children leaving home soon, or if your parents will need to move in with you, look for a home with what room you’ll need then, not just for now. 

One of the most important things you can do is get your own buyer’s agent.  They have knowledge you don’t have about the market, and what’s available.  Ask your RealtorⓇ for a copy of the current market information, so you’ll be able to familiarize yourself with the home-buying process, and so there won’t be any surprises.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: ActiveRain

Owning Makes More Sense

July 20th, 2018 by tisner

When comparing the cost of owning a home to renting, there is more than the difference in house payment against the rent currently being paid. It very well could be lower than the rent but when you consider the other benefits, owning could be much lower than renting.31066694-250.jpg

Each mortgage payment has an amount that is used to pay down the principal which is building equity for the owner. Similarly, the home appreciates over time which also benefits the owner by increasing their equity.

There are additional expenses for owning a home that renters don’t have like repairs and possibly, a homeowner’s association. To get a clear picture, look at the following example of a $300,000 home with a 3.5% down payment on a 4.5%, 30-year mortgage.

net cost of housing.jpg

The total payment is $2,264 including principal, interest, property taxes, property and mortgage insurance. However, when you consider the monthly principal reduction, appreciation, maintenance and HOA, the net cost of housing is $1,218. It costs $1,282 more to rent at $2,500 a month than to own. In a year’s time, it would cost $15,000 more to rent than to own which is more than the down payment and closing costs to buy the home.

With normal amortization and 3% annual appreciation, the $10,500 down payment in this example turns into $112,00 in equity in seven years. Check out your own numbers using the Rent vs. Own or call me at (407) 467-5155. Owning a home makes sense and can be one of the best investments a person will ever make.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Assumptions May be an Alternative

May 11th, 2018 by tisner

For the last 25 years, most buyers have gotten a new mortgage or paid cash when purchasing a home. For a practical reason, owner-occupant buyers have another alternative: assuming a lower interest rate existing FHA or VA mortgage.29377293-250.jpg

In the late 80’s, both FHA and VA began requiring buyers to qualify to assume their mortgages. Prior to that, good credit or even a job wasn’t required. The real reason there haven’t been significant numbers of assumptions in the past 25 years is that interest rates have been steadily going down. If a person had to qualify, they might as well do it on a new loan and get a lower interest rate.

Even though mortgage money is currently attractive and available, it is at a four-year high. When interest rates on new mortgages are higher than the rates of assumable FHA and VA mortgages originated in the recent past, it may be more advantageous to assume the existing mortgages.  Conventional loans have due on sale clauses that prevent them from being assumed at the existing rate.

FHA loans that originated with lower than current interest rates have great advantages for buyers and sellers.

  1. Interest rate won’t change for qualified buyer
  2. Lower interest rate means lower payments
  3. Lower closing costs than originating a new mortgage
  4. Easier to qualify for an assumption than a new loan
  5. Lower interest rate loans amortize faster than higher ones
  6. Equity grows faster because loan is further along the amortization schedule
  7. Assumable mortgage could make the home more marketable

This financing alternative can save money for the buyer in closing costs and monthly payments. While the equity may be more than the down payment on a new mortgage, second mortgages are available to make up the difference. Call us at (407) 467-5155 to find out if this may be an option for you.

By: PatZaby.com

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

http://go.homeasap.com/homesearch/221183171246872

FHA Advantages for Orlando, FL

March 29th, 2018 by tisner

The Federal Housing Administration, operating under HUD, offers affordable mortgages for tens of thousands of buyers who may not qualify for other types of programs. They are popular with both first-time and repeat buyers.

The 3.5% down payment is an attractive feature but there are other advantages:fha3.png

  • More tolerant for credit challenges than conventional mortgages.
  • Lower down payments than most conventional loans.
  • Broader qualifying ratios – total house payment with MIP can be up to 31% of borrower’s monthly gross income and total house payment with all recurring debt can be up to 43%. There is a stretch provision taking it to 33/45 for qualifying energy efficient homes.
  • Seller can contribute up to 6% of purchase price; this money must be specified in the contract and can be used to pay all or part of the buyer’s closing costs, pre-paid items and/or buy down of the interest rate.
  • Self-employed may qualify with adequate documentation – two year’s tax returns and a current profit and loss statement would be required in addition to the normal qualifying and underwriting requirements.
  • Liberal use of gift monies – borrowers can receive a gift from family members, buyer’s employer, close friend, labor union or charity. A gift letter will be required specifying that the gift does not have to be repaid.
  • Special 203(k) program for buying a home that needs capital improvements – requires a firm contractor’s bid attached to the contract calling for the work to be done. The home is appraised subject to the work being done. If approved, the home can close, the money for the improvements escrowed and paid when completed.
  • Loans are assumable at the existing interest rate with buyer qualification. Assumptions are easier than qualifying for a new mortgage and closing costs are lower.
  • An assumable mortgage with a lower than current rates for new mortgages could add value to the property.

Finding the best mortgage for an individual is not always an easy process. Buyers need good information from trusted professionals. Call (407) 467-5155 for a recommendation of a trusted lender who can help you.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

By and photo credit: PatZaby.com

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