If you are renting in the Tampa Bay Area the news is not good. The median rental amount paid in Pinellas County is currently at $1400 month according to Tampa Bay Times. That means that half of the renters are paying a monthly rent that is higher than $1400 and that number is predicted to keep going up.

So, what can you do if you would like some more stability and control over your housing expense?

One of the answers is to buy a home and take control of where you live and how much your monthly payment will be in the long term. A monthly payment of $1400 would allow you to buy a home in the $165,000- $200,000 range depending on the specific insurance and taxes for a home.

The biggest objections to overcome for first time homebuyers is the upfront costs required to buy a home. Thanks to the Florida Hardest Hit Fund or HHF there is closing cost and down payment assistance available for 1st time homebuyers up to $15,000. This amount is FORGIVEN if the borrower stays in the home for 5 years at a rate of $3000 per year. This will usually cover most of the expenses associated with buying a home.

There are credit score and total income requirements to qualify for this HHF program. The State of Florida will not have funds forever. If you are tired of seeing your hard-earned money go to an ever-increasing rent payment now is the time to apply for pre-approval and start on your path to home ownership.  Start Your Pre-Approval Here

Bradenton Branch

NMLS #386145

5260 State Road 64 East

Bradenton, Florida 34208

bmcmahon@homebridge.com

C: (941) 720-2573

Related Articles

"Rainy days seem to wind up sunny, long as you got a little spending money." Jimmy Buffett. Retail Sales were on the damp side in August, rising at their smallest level since February. Retail Sales disappointed in August, up just 0.1 percent from July. However, July's figure was revised higher…
Read More

"There's no thrill like throwing a touchdown pass." Joe Montana. The labor sector scored in August with solid numbers on job and wage growth. U.S. employers hired 201,000 new workers in August, above the 187,000 expected, the Bureau of Labor Statistics reported. However, June and July were revised lower by…
Read More

Wi-Fi can be slow for many reasons. Here are some tips for checking your Wi-Fi device or placing it properly to ensure the best signal. Restart your router occasionally. Much like rebooting a mobile device, routers need to be refreshed too. Ask your service provider to evaluate your home signal level. SpeedTest can…
Read More

Happy Labor Day Aug 29 2018

Did you know? The first “labor day” assembly in America was held September 5, 1882, when roughly 10,000 working people marched in New York City to urge labor law reforms. Labor Day became a national holiday in 1894. Nearly 50% of Americans work remotely at least some of the time.…
Read More