New Product for First Time Homebuyers - Lower Down Payment!

We've got a great, new loan product that circumvents FHA and the higher mortgage insurance premiums! 

• 3% down payment for first time home buyers - (FHA requires 3.5% down payment)  

• Only one of the borrowers on the loan will have to be a first time home buyer for the 97%. 

• 1 unit properties, 30 year fixed only (not for condos)

• Down payment, closing costs AND reserves (2 mos. PITI) can come from GIFT FUNDS! 
  

• Only one borrower has to have home buying counseling.  It can be done online for free.  http://homebuyers.mgic.com/  It takes about 5 minutes to get a certificate. 

• Borrower's gross income cannot go over the Fannie Mae Area Median Income (AMI) for the county. For Brevard county it is $60,700

•  Lower Mortgage Insurance rates than normal conventional (way lower than FHA)

• Pricing for interest rates is slightly higher than normal conventional rates but the Mortgage Insurance is quite a bit better than standard FHA Mortgage Insurance.  The payment is almost always less than the payment of an FHA mortgage.

   If you are a first time homebuyer and you are tired of renting, start looking at owning and call JoAnn Young today 321-243-4917 to find out if you can qualify for this new program.

Free Antibiotics at Publix? -

This blog post has nothing to do with real estate or mortgages, but plenty to do with saving money! Someone recently told me that Publix grocery stores offer free antibiotics at the pharmacy counter.  I had to go check it out myself.  Sure enough, all you need is a prescription from your Dr.  Some of these Rx's may come in handy for families with small or school-aged children.  There are also blood pressure and diabetes meds on the list.

Get up to a 14-day supply of the following generic oral antibiotics free:

• Amoxicillin
• Ampicillin
• Sulfamethoxazole/Trimethoprim (SMZ-TMP)
• Ciprofloxacin (excluding Ciprofloxacin XR)
• Penicillin VKs

See the Publix website for a complete list.  

New Jobs Coming to Brevard County - Get Ready!

Northop Grumman has revealed it's secret identity as the Magellan Project in early May. The project is expected to bring more than 1800 high paying jobs with an average salary of $100,000 to the Melbourne, FL area.  The expansion is to occur in phases making the Space Coast the leader in technology.

The expansion project will involve military work for U.S. and allied forces. U.S. Sen Bill Nelson said that will include work aimed at winning a contract to build the Long Range Strike Bomber, or LRS-B, which the Air Force has identified as a top priority. Northrop Grumman already builds the B-2 stealth bomber, reportedly is one of two companies competing to build the LRS-B.

What this mean for the Real Estate industry?

The Northrop Grumman project could lead to a boom in the Brevard County real estate market. Bringing a new demand for higher end properties.
Brevard's housing market has suffered with the space agency shutdowns and employment losses.  We have slowly begun to recover.  As a 20 year Brevard County resident,  Licensed Realtor and Mortgage Broker, I am excited about this new growth aspect.

What does this mean for current homeowners?
If you own a home and are thinking about selling, now is the time to start sprucing up, remodeling or updating and repairing.  The housing market will be HOT for newer, updated homes to compete with local builders. 

What does this mean for buyers in the market?

As we experienced in 2003-2006 in our area, home prices shot up out of many home buyer's price range.  If you are thinking about buying a home in Brevard County, now is the time to get your finances in order and seek the help of a professional for loan qualification.   You may be six months to a year out on your goals, but a mortgage professional will be able to help you decide how much you can afford to buy and you can set your buying track accordingly.  The key for mortgage financing is in the preparation!

What does this mean for JoAnn Young?
I am equipped with the right tools to meet the needs of home buyers today. I have a pool of lenders to choose from, each offering different products for different needs of home loan applicants.  Low interest rates, low down payment and hands-on loan processing for expert customer service is what I provide for my clients.
As a licensed Realtor, I also can find a home to match a buyer's needs by searching the Multiple Listing Service (MLS) or For Sale By Owner properties.  I also assist sellers in listing their homes for sale for a marketable price.  The home values in Brevard County have now increased to levels where sellers can now sell their homes and cash out on their equity and move to a larger home or downsize to a smaller home.

Brevard County is a beautiful area with much to offer from beautiful pristine beaches to quiet living on a golf course.  If you believe this is the place for you, call me and I will be ready to assist.  JoAnn Young, Owner/Broker, People's First Financial Services, Realtor, Young & Young Properties.  321-243-4917 (cell).  Or contact me by email.  I look forward to hearing from you!