About Lakeland's Hampton Hills

Which Government Backed Home Loan Is Best Suited For Purchasing My New Home?

If you want a loan with a No Money Down Option then you must be a veteran or you must purchase a home in a HUD Approved Area for Rural Housing. The VA and USDA Loan are the only type loans that offer the No Down Payment Option for buying a home.

The FHA loan is the most popular type loan at this time because the down payment requirement is only 3.5% compared to the Conventional Loans which require 5% down. Both require the added cost of Mortgage Insurance any time less than 20% down is used.

The VA and USDA Loans do not require mortgage Insurance but have a funding fee that is financed into the loan. The USDA funding fee is currently 3.5% but expected to rise with the growing number of defaults. The VA funding fee varies and is determined by the veterans DD214 and Certificate of Eligibility.

Here is a snap shot of the type client that may choose one of these loan types.

VA Loan - An active member or a former member of the armed forces.

USDA Loan - A person living in or wanting to buy a property that resides in an area that typically has under 10,000 other residents.

Conventional Loan - A person with clean credit and 5% or more saved for the down payment of their new home.

FHA Loan - A person with past credit issues that have been resolved in the last year who does not have any money saved for a down payment but who has a relative that will give them the money to put down and/or co-sign on the loan for them.

The Interest Rates on all of the above mentioned loan types are at their lowest levels in the past 100 years. Some are opting for the 5 year arm which is fixed at 3% for the first 5 years of the 30 year loan term. Many of whom plan to refinance or sell the property within the next 5 years.

Senior Home Loan Originator Jim Poole

NMLS #351358

Hampton Hills – Affordable Neighborhood in North Lakeland FL

Hampton Hills Neighborhood is located in North Lakeland FL of Polk County and it is very centrally (walking distance) located to Lakeland Square Mall,  YMCA, schools, churches, dining, movie theater, and much, much more…

Are you looking for a Hampton Hills home for sale?

Maronda Homes and Lennar started to build homes in Hampton Hills in 2005 in three phases. You will still find single family and townhomes being currently built.  This neighborhood features close to 900 single family and townhomes homes in a deed restricted subdivision with low annual Home Owner’s Association dues. 

 

Hampton Hills is located off Sleepy Hill Road and Mall Hill Road in North Lakeland with easy access to major highway and Interstate 4 and a short drive to downtown Lakeland where you can enjoy many cultural events at the Lakeland Center, Polk Museum of Art or an afternoon out watching the Detroit Tigers spring training game at Joker Marchant Stadium.

 

View Larger Map

Hampton Hills homes for sale offer great contemporary architectural style built single family homes and townhomes from 1400 – 3000 square feet of living space at very affordable prices.  These homes offer a variety of style and size from a three bedroom to five bedroom homes.  A great buy for first-time home buyers, folks who want to down size, and investors. Prices currently range from under $100,000 - $270,000 with an average price of $129,000.

If you are interested more about this Hampton Hills neighborhood in North Lakeland, please contact me at petra@petranorris.com

 Hampton Hills School Zone – Lakeland FL:
**Elementary School: Griffin Elementary
**Middle School: Sleepy Hill Middle
**High School: Kathleen High

 

**Please note that Hampton Hills School Zone in Lakeland Florida -Polk County - occasionally changes and should be verified by the Polk County School Board.

TAMPA – Lennar, Tampa’s most active home builder, will host a “Taste of Lakeland” from 2 to 5 p.m. on Sunday Jan. 25 at the Hampton Hills Welcome Home Center, located on Prescott Loop in Lakeland off Mall Hill Road near I-4 and U.S. 98. Mark Metheny, president of Lennar in the Tampa Bay region, said Hampton Hills, will present a wide variety of gourmet samplings from area restaurants and hotels, along with beverages and entertainment, gift certificates and prizes. “This is a chance to taste the best of the best from many of our local chefs and their crews in a festive atmosphere and we expect prefect weather and a big turnout,” Metheny said. Lennar is building new single-family homes at Hampton Hills priced from the $150s. For information about this press release, contact Mark Metheny, Division President Lennar Tampa 888-317-7489 mark.metheny@lennar.com Jassy Friddle, Marketing Manager Lennar Tampa 888-317-7489 jassy.friddle@lennar.com; Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142