All Forum Posts by: Melvin List

@Stanley Smeltzer if you going to start out as a primary residence I would also see if you qualify for Down Payment Assistance or Fannie's $5000 grant program.

@Aubrey E Alleyne I am not sure you can go wrong being that close to the beach.

Grants and Down payment assistance are for Owner Occupied properties.

I would look into doing a first at $766,500 and backing it up with a small HELOC to make up the difference.

@Bryce Kennebeck In Florida the Homestead exemption is only offered individuals and not LLC's.

@Ina Howard I would reach out to a broker in your area.  They should have access these type of programs with a decent down payment

I personally would stay away from an attorney because many of them do title on the side.  I have an owner operator title company that has saved many deals for me.  Feel free to reach out and I can send you my contacts email.

Non Warrantable Condo's can be tricky in Florida.  Most of my clients either put 30% down or have 30% equity for a refinance.  There are a couple of lenders out there that you can still go conforming without having to fill out a all of the Fannie Mae Condo Questions that make the property non Warrantable.

Less than a half point difference I think I would stick with the fixed.

In Florida you  take title as:

Joint tenancy with rights of survivorship