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Buying a home is an exciting and complex adventure. It can also be a very time-consuming and costly one if you're not familiar with all aspects of the process, and don't have all the best information and resources at hand.  My approach is to give my clients the information they want so that they may make the best decision possible for themselves.   For the latest home listings in your neighborhood Call me today at 850-554-9543

First Time Buyer Program

The City of Pensacola and Escambia County jointly participate in the State Housing Initiatives Partnership (SHIP) Program, referred to as the SHIP First Time Home Buyers Program. The program is designed to assist families obtain affordable housing.   Pensacola Housing Department.

What are Points? Points/origination are considered a form of interest. Each point is equal to one percent of the loan amount. You pay them, up front, at your loan closing in exchange for a lower interest rate over the life of your loan. This means more money will be required at closing, however, you will have lower monthly payments over the term of your loan.
To determine whether it makes sense for you to pay points/origination, you should compare the cost of the points/origination to the monthly payments savings created by the lower interest rate. Divide the total cost of the points/origination by the savings in each monthly payment. This calculation provides the number of payments you'll make before you actually begin to save money by paying points/origination. If the number of months it will take to recoup the points/origination is longer than you plan on having this mortgage, you should consider the loan program option that doesn't require points/origination to be paid.

Why do you need title insurance? The purchase of a home is most likely one of the most expensive and important purchases you will ever make. You, and especially your mortgage lender, want to make sure the property is indeed yours: That no individual or government entity has any right, lien, claim, or encumbrance on your property.

FHA 203k Loan Program: The Federal Housing Administration (FHA), which is part of
the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved
lending institutions which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans which the Department insures. The Section 203(k) program is designed for the rehabilitation and repair of single family properties (monies are set aside for the buyer to make repairs). As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. In the real estate market that we are in where there are many “short sales” available this can be a program to use in purchasing a home. Many times a homeowner that is offering a house for sale as a “short sale” does not have the money to make repairs or make cosmetic improvements to market the property. The 203k program allows a buyer to buy a home in “as is” condition. The program is for primary residences.

Rural Housing Loan Program offers the buyer 100% financing for homes purchased in Escambia County north of Ten Mile Road and anywhere in Santa Rosa Coutny except for Gulf Breeze Proper.