No down payment? These programs can help!
Owning a home is a pretty major goal for lots of Americans, but the thought of buying a piece of property — whether it’s a condo in the sky, a suburban house or a fixer-upper in the countryside — can be intimidating, especially if you’re a first-timer. You’re probably worried about saving up for a down payment and closing costs, finding an interest rate that won’t break the bank and making sure you have enough cash for a few new pieces of furniture after you move in. But the great news is that there are programs to help first-time buyers — or even those buying a second home — overcome these challenges and make their dream of owning a new place a reality! Down payment and closing cost assistance Saving up for both a down payment and estimated closing costs can be a real challenge — and it’s one of the biggest obstacles to becoming a homeowner. These upfront costs can add up quickly and put owning a home somewhat out of reach for Americans who might otherwise be able to afford their monthly mortgage payments. But what if the obstacle you’re facing is the type of loan you’re considering? If you’re struggling to come up with the cash you need to buy a home, don’t give up hope: the following loans might put home ownership right within your reach! FHA LOANS The Federal Housing Administration (FHA) loan program is a government initiative that helps low- and moderate-income Americans buy homes. With an FHA loan, qualified borrowers only need a down payment of 3.5%, which is much less than the 20% most people think they need to save to even consider buying a home. You can even get help from your family or other sources with gift funds to cover the entire down payment and closing costs. Other great benefits of FHA loans are that they’re more flexible with a buyer’s credit score, and the seller can pitch in up to 6% of the home’s purchase price to help pay for closing and prepaid costs. Need a down payment boost for that FHA loan? Movement has just launched a new program called Movement Boost, a down payment assistance program designed to help approved buyers cover their down payment for an FHA loan. This program is great for people struggling to afford all the costs of buying and moving into a new home. Movement Boost is available nationwide (with the exception of NY) and provides the full 3.5% payment required to secure an FHA loan.If you meet the criteria for the 5% Movement Boost, you’ll receive full coverage for your 3.5% down payment, with the remaining 1.5% allocated towards closing costs. Keep in mind, you will be responsible for any remaining closing costs past what the 1.5% covers. The amount will be provided through a repayable second lien that will amortize in 10 years, at an interest rate set at 2% above the rate of the first lien. Brand new this year, Movement Boost is perfect for first-time buyers who don’t have enough savings, but it’s also open to repeat buyers. USDA LOANS Backed by the United States Department of Agriculture, the USDA loan is another option for potential borrowers. It’s designed for low-to-moderate-income individuals who want to purchase a home in a designated “rural” area — and you’d be surprised at how many suburban areas and small towns are included! One of the benefits of the USDA loan is that it offers eligible applicants the opportunity to buy a home without a down payment. It also allows for the seller to contribute to your closing costs. VA LOANS A VA Loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA) that’s popular among eligible veterans, service members and their surviving spouses who want to purchase a home. One significant benefit of a VA loan is that it usually requires no down payment, enabling eligible borrowers to buy with little or no upfront payment. Making a down payment of at least 5% may lower your funding fee, which goes to the VA to help support the program. VA loans also don’t require mortgage insurance, which is usually required for mortgages when there’s less than 20% put down. And they usually have lower closing costs and more flexible credit and income requirements. Plus, no lender fees for borrowers getting a VA loan through Movement Mortgage. CONVENTIONAL LOANS The most popular way to finance a home is with a conventional loan, and it has great benefits for eligible borrowers. Unlike FHA and other government-backed loans, conventional loans can be used on almost any type of property with fewer property restrictions. Conventional loans have a variety of down payment options available, and borrowers who make higher down payments can enjoy even more advantages, like, if you can put down 20% or more, you may be able to eliminate the need for Private Mortgage Insurance (PMI). If you’re short on funds for a down payment, we offer a variety of conventional low down payment options to help you get started, including: Fannie Mae HomeReady The HomeReady program, provided by Fannie Mae, is an affordable housing initiative that offers fixed-rate mortgages to creditworthy individuals with low-to-moderate incomes. If you’re qualified, you can secure up to 97% financing, making it easier to purchase a home with as little as a 3% down payment. Another unique feature of the Fannie Mae HomeReady program is that it considers non-traditional sources of income for qualifying purposes, including income from family members. Freddie Mac Home Possible Similar to Fannie Mae’s HomeReady program, Freddie Mac offers the Home Possible and Home Possible Advantage home loan programs. With Home Possible, homebuyers can finance up to 97% of the home’s value, so again, just a 3% downpayment. And co-borrowers can help qualify for the loan. Home Possible is designed for people with modest incomes and those purchasing or refinancing properties in specified areas. Thumbs up for a lower down payment! Getting your down payment in order is an important step toward buying your dream home! To make the process stress-free, it’s essential to get your finances in tip-top shape well before you start shopping. So, if you’re in the market for a new home but have questions about home financing, please reach out to Taylor Jones with Movement Mortgage to discuss how much down payment you’ll need or what potential closing costs might be.
The best waterfront restaurants and bars in the Daytona Beach area
Enjoy the waterfront views at these places in Volusia County while enjoying a burger and beer or perhaps fresh grouper and a cocktail. Living near Daytona and the World's Most Famous Beach is definitely one of the best perks of my job, but my absolute favorite part is dining at restaurants overlooking our Atlantic coastline and nearby waterways. Being able to enjoy the waterfront landscape at sunset while enjoying anything from a burger and beer to fresh grouper and a cocktail is one of those experiences I can't get enough of. So when it's time to pick a restaurant, and you know you want views alongside your dish, refer back to this list. Here are the best waterfront restaurants in Volusia County. Aunt Catfish's on the River 4009 Halifax Drive, Port Orange; 386-767- 4768 Aunt Catfish's on the River is a Southern treat many locals love. While dining, one can enjoy a view of the Halifax River, crispy catfish bites and fries, and classic Southern sides at the all-you-can-eat "fish camp fixins" bar such as potato salad, baked beans, cheesy grits and cinnamon rolls fresh out the oven. Aunt Catfish's staff is welcoming and sweet just like your Southern grandma. There is a play area for small children and beer and wine for the adults. Breakers Restaurant 518 Flagler Ave., New Smyrna Beach; 386-428-2019; facebook.com/breakersnsb If you want a tasty burger to pair with your waterfront views, Breakers Restaurant is the perfect place for you. Breakers is located right on the beach at the end of Flagler Avenue in New Smyrna Beach. The floors are sandy, the music is good and you feel like you're living on island time. The large bar almost fills the entire restaurant, and there is seating alongside the big sliding windows that open and let the beach breeze in. The eatery is known for its great burgers and upbeat vibes so Breakers really does create a "cheeseburger in paradise" experience. Caribbean Jack's 721 Ballough Road Daytona Beach; 386-523-3000, caribbeanjacks.com Caribbean Jack's offers happy hour, live music and great company with views of the Halifax River in Daytona Beach. The menu has many sharable items to enjoy with your crew, my favorites being the Caribbean nachos and sesame-crusted tuna. Jack's also has a large selection of libations such as buckets of beer, frozen cocktails and specialty drinks to enjoy during their daily happy hour deals. Fysh Bar and Grill 3633 S. Ridgewood Ave., Port Orange; 386-492-5252, facebook.com/fyshbarandgrill Fysh Bar and Grill in Port Orange opened in October with waterfront views of the Halifax River and live music most days. The large eatery can accommodate more than 600 guests and has four kitchens, three full bars, a raw bar, gelato station and a rooftop bar. The two-in-one casual and fine dining restaurant offers American, Japanese and Italian dishes with options such as sushi, pasta, pizza, high-end steak, lobster and local seafood. Hidden Treasure Tiki Bar and Grill 5993 S. Ridgewood Ave., Port Orange; 386-756-9565, facebook.com/HiddenTreasure Hidden Treasure in Port Orange has fun for everyone. Whether you want to enjoy live music with views of Rose Bay or get your feet wet in the bay, this Tiki Bar and Grill has got you covered. Rosebay Watersports is located at the restaurant and offers paddle boarding, kayaks, pedal boats and more. For those just wanting to dine-in, Hidden Treasure has happy hour on food and drinks every day and weekly events such as ladies' night and kids' night. The restaurant is also pet friendly and has a menu just for your furry friend. The Grille at Riverview 101 Flagler Ave., New Smyrna Beach; 386-428-1865, thegrilleatriverside.com For those wanting a slightly more elevated dining experience with a waterfront view, The Grille at Riverview is a great place to switch out the bathing suit for some casual evening attire. Enjoy views of the Indian River North alongside your filet mignon, linguine and clams, or shrimp scampi paired with a cocktail or selection from their lengthy wine list. Mama Foo Foo 125 Basin Street, Daytona Beach; 386-287-0180, facebook.com/mffdaytona Located on the Halifax River, Mama Foo Foo's is a fun spot for sipping craft cocktails with your crew (especially my crew!) while gazing at the waterfront views and boats and perhaps enjoying live music. The captivating design of the restaurant is mysterious yet lively with dark tones but lots of vibrant plants. The craft cocktails are some of the best in Daytona Beach and the beer and wine menu has something for everyone. The food menu offers main courses and shareable plates, my favorite being the truffle arancini, which is arborio rice, black truffle, oyster mushroom and parmesan fried to perfection. The restaurant also serves brunch on the weekends. Ocean Deck 127 S. Ocean Ave. Daytona Beach; 386-253-5224, facebook.com/OceanDeck Opened in 1957, Ocean Deck offers happy hour on drinks and food, live entertainment and of course front row views of the Atlantic Ocean to enjoy with your toes in the sand. It has sandy floors and fun energy ("Deck shots!") for those wanting to hang loose at one of the most iconic beach bars in Florida. Outriggers Tiki Bar and Grille 200 Boat Yard St. New Smyrna Beach; 386-428-6888, facebook.com/outrigger Located on the Indian River North, the boat-friendly Outriggers has views, live music, happy hour deals on food and drinks and a pet-friendly patio. The restaurant's menu features peel-and-eat shrimp, tacos, steak, burgers and a large drink list including signature specials and frozen beverages. Outriggers also offers a "paws menu" for our four-legged best friends. Racing's North Turn 4511 S. Atlantic Ave., Ponce Inlet; 386-322- 3258, racingsnorthturn.com Another one of Florida's most famous beach bars, Racing's North Turn on the shoreline in Ponce Inlet is filled with NASCAR memorabilia and also serves delicious Key lime pie. This waterfront eatery is exactly what you picture when you think of a beachside restaurant: awesome views, live music and good food. The menu has many seafood dishes as well as burgers and such but my go-to is the pulled pork nachos that could feed a family of four. RiverGrille on the Tomoka 950 N. U.S.-1 Ormond Beach, FL 32174; 386-615-2004, facebook.com/rivergrille RiverGrille on the Tomoka River, a causal Cajun-inspired eatery offers rustic views and relaxing vibes in Ormond Beach. The menu has many seafood options including boils with shrimp and crab, platters with your choice of seafood with two sides, and for those wanting meat, RiverGrille smokes chicken wings, pork and ribs. The restaurant offers a full bar menu with seasonal cocktails, as well. Top of Daytona 2625 S. Atlantic Ave., Daytona Beach; 386-310-7849, topofdaytona29.com If you're looking for a restaurant with an elevated waterfront view to celebrate a special occasion or just need a reason to get dressed up (as in changing out of your flip-flops) Top of Daytona has a spectacular view from the 29th floor of Peck Plaza in Daytona Beach. The restaurant offers land and sea dishes with favorites being the oven-roasted half duckling that has crunchy skin and an orange glaze sauce, and the Chilean sea bass drizzled with a leek and tomato sauce. I'm also a fan of their complimentary fresh bread and the live music acts that add to the ambience.
Daytona Beach ranked among most affordable beach towns in the U.S., according to Thrillist
Daytona Beach has earned the reputation as the “World’s Most Famous Beach” for its stunning coastline, vibrant restaurant scene and, of course, NASCAR and racing at the speedway. And now the city is eyeing another title: one of the nation's most affordable beach towns. That is how Thrillist, an online travel, food and entertainment publication, classified Daytona Beach in a recent list with other affordable beachside locations across the country. With an average median home price of $256,550, the site points to the city's proximity to Orlando and other beaches, its dwindling spring break crowds and the chance to drive on the beach as some of the factors that may attract new residents. But what does a local realtor have to say about the assessment, and what other towns made Thrillist list? Why is Daytona Beach among the U.S.’s most affordable beach towns? Daytona Beach Realtor Paul Pratt agrees that the city is among the most affordable beach towns in Florida. But Thrillist’s median home price does not represent the full picture. “The average for three-bedroom, two-bathroom homes is probably $330,000. That’s probably a little more accurate,” Pratt said, adding that prices for those types of homes on the beachside normally range from $300,000 to $350,000. “As far as single-family homes, $250,000 can’t really go; it’s a very long way. But $330,000 is still pretty affordable.” While he could not say for certain what Thrillist’s number is based on, “there are some modular homes, there are townhouses, there are condos – all that sort of stuff. That’s probably where they are getting their info from.” He said the lack of industries in the area makes the city less attractive to a broader demographic beyond those seeking to retire. Besides Bike Week and NASCAR, Pratt said the weather and proximity to other famous beach towns, such as New Smyrna Beach and Ormond Beach, as well as to Orlando and Disney World, might be what is most attractive to those considering moving to Daytona. What other cities made Thrillist’s most affordable beach towns list? Daytona was not the only Florida city to make the list. Thrillist also listed Deerfield Beach in Broward County, with a median home price of $297,138. The South Florida beach town, the site states, is close to other prominent coastal cities, such as Palm Beach and Miami (both more expensive) and has a more “local” feel. Other notable towns mentioned on the list include Long Beach, Washington ($329,795); Myrtle Beach, South Carolina ($301,846); Swansboro, North Carolina ($322,288); and Coos Bay, Oregon ($319,282). Towns mentioned in the lower price range included Texas’ Port Arthur ($84,937) and Freeport ($122,312), as well as Ocean Springs, Mississippi ($243,412).
Categories
Recent Posts
