Over the past 3-4 weeks, our entire industry has seen a drastic increase in northern buyers trying to buy second/vacation homes here in the Tampa Bay area. Air travel in and out of the West Central Florida region is extremely easy with the flyer friendly international airports. Tampa International is one of the easiest airports to navigate with multiple direct flights to every northern region. Record low interest rates, record low home prices, increased consumer confidence and cold northern temperatures is getting our local real estate economy moving in the right direction. This type of buying and buyer confidence in our local market will help increase the demand for homes here in the Greater Tampa Bay Region. For any buyers looking for second/vacation home financing I am more than willing to offer my advice to you. Currently private mortgage insurance guidelines allow for 90% financing of these types homes. The credit score guidelines for second/vacation home financing up to 90% LTV with a 720 FICO and 85% LTV with a 680 FICO. For borrowers with less than a 680 FICO private mortagage insurance(PMI) is not available so 80% is the maximum level of financing available for these types of transactions. Perspective buyers looking to acquire real estate in this region please use me as a resource. I am more than willing to discuss the present lending environment with regards to this type of lending.
DJ Rondeau
Bay to Bay Lending, L.L.C.
501 South Dakota Ave,
Suite 2
Tampa, FL 33606
813-489-5562- Office
813-480-6077- Mobile
813-464-2867- Fax
djrondeau@baytobaylending.com
www.tampafloridamortgagebroker.com
NMLS Originator ID: 218498
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