Many visitors to the Panama City Real Estate site often question whether they can qualify for a home loan.

Each time I'm asked this question, my answer is the same - "You don't know unless you ask"!

The FHA loan program is one means for those with mid level credit scores to take advantage of todays low housing prices.

Here are a few items of interest for those interested in FHA programs:

 

• Credit score 580 - 619 (Overlays apply call for details)
• 3.5 % Down payment                                                                        
• Fixed rate loans
• 100% Gifts from family member to cover down payment and closing costs
• Seller can pay up to 6% towards buyers closing costs and prepaid
• Non-traditional Credit

If you

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Panama City Homes | Market Update

Latest mortgage information and market update provided by Jackie Fowler...

Many factors were favorable for mortgage rates this week. Weaker than expected economic data, strong results for the Treasury auctions, and renewed concerns about weaker European countries all helped mortgage rates end the week at the lowest levels of the year.

All of the major economic data released during the week was weaker than expected. First quarter Gross Domestic Product (GDP), the broadest measure of economic growth, was unchanged at 1.8%. Most investors expected the figures to be revised higher to at least 2.0%. April Durable Orders fell 4% from March, which was the largest monthly decline since October 2010. Weekly Jobless Claims…

For my clients who served in Iraq  or Afghanistan  during 2010...

The bill  HB 1141 was signed by Governor Scott on 5/31:

Here are the details:

HB 1141 implements a constitutional amendment approved by voters in 2010 and provides a new homestead exemption for military personnel on active duty overseas. The exemption is based on the amount of time the individual served overseas.

How to calculate the tax break
Taxable value of the property multiplied by the percentage of time spent overseas in 2010. (Calculate percentage of time spent overseas by taking the number of days overseas and dividing it by 365).

So, if someone spent six months overseas in 2010, he or she would get a 50 percent discount. If someone spent the entire year overseas (12

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