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Florida Mortgages (FL)
The Florida Board of Realtors reports that prices of homes were lower in February than in January. Sellers are still making money, especially if they had owned their homes five years ago, when prices began rising to record levels. But in the last few months, the market has begun shifting to buyers, who have more than double the number of homes to choose from than they did a year ago. Mortgage rates fell slightly in early April, making this a good time to purchase or re-finance a home in Florida.
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Quick Florida Housing facts
Percent of Floridians who own a home: 70.1%
Percent of Renters in Florida: 29.9%
Median Florida Household Income: $38,934
Average Florida credit score: 673
Best City to live in Florida: Ponte Vedra Beach, Florida
Median Florida Home Value: $105,500
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How much house can I afford in Florida
One of the biggest problems facing Florida homebuyers is figuring out how much house you can afford. We have some great mortgage calculators that can help you figure how much home will fit into your monthly budget. Things to consider when buying a new home are how much can you afford for you monthly payment, how long do you plan in being in your home, and what is your debt to income ratio.
When to refinance in Florida
Refinancing can be a great way to pull money out of your home, consolidate all your high interest credit cards, and get out of debt once and for all. The best part too is if interest rates have gone down to could be saving thousands over the life of your loan.
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.
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| Type of Loan |
Rate* APR* |
| 5 Year ARM | 5.821% 5.033% |
| 15 Year Fixed | 5.243% 5.288% |
| 30 Year Fixed | 5.729% 5.717% |
| Home Equity Loan | 7.420% 5.740% |
| HELOC | 6.305% 6.990% |
| *Rate & APR Based on The Bradford Index |
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