FHA Versus Conventional Loan (With and Without Closing Costs) Example

Keller Williams Realty

Keller Williams Realty (Photo credit: Wikipedia)

In today’s economy, it is often hard for buyers to come up with the additional money for closing costs and/or sellers are not willing to pay some or all of buyer’s closing costs to buy residential real estate.  Thus, I have been provided with an example of FHA versus Conventional Loans (with and without closing costs) for one of my listings (located at 1617 Marsh Wood Drive, Seffner, Florida):

Mortgage Rate Example

As demonstrated in the above exhibit, the cost to roll in the additional costs for either a Conventional or FHA loan is nominal over a 30 year term.  With the new FHA rules that require mortgage insurance over the entire term regardless of loan-to-value, a conventional loan is a home buyer’s best option (if they can qualify for it).  FHA still is the easiest to qualify for.

The following are some pictures and a brief description of my listing located at 1617 Marsh Wood Drive, Seffner, FL 33584:

IMG_0629 (640x480)IMG_0618 (640x480)

This property is an Exceptional 4 Bedroom, 2 Bath, 2 Car Garage home located close to Brandon, with easy access to both Interstate 4 and Interstate 75. Some of the home’s features include: Vaulted Ceilings, Plant Shelves, Archways, Split floor plan, air conditioned Florida Room, Ceramic Tile in all the right areas and carpet in the remaining area. Master suite includes large walk-in closet. The Florida Room is included in the air conditioned space and is located at the rear of the home, which overlooks the large fenced wooded backyard. The home sits on an oversize lot situated on nicely landscaped cul-de-sac.  This property is offered at $179,900.  For more information about this property click here.

For more information about finding the right financial product for you, you can contact Stephen Speer at stephenspeer@inlanta.com, or visit his web site at stephenspeer.com.   If you are interested in buying a new home or any other home, please contact me (Alan Lane with Keller Williams Realty at 2119 W Brandon Blvd, Brandon, Florida  33511) and I can help you find a new home in the Tampa Bay Area.  My email address is alanlane66@gmail.com or call me at 813.205.9280.  If you are just starting your search, you can search the MLS for homes on my website at this link.

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