Miami Lakes, FL

30 Year Fixed Rates Hit New Lows Again Last Week!

Here’s the scoop on mortgage rates for the week ending Feb 2:

• 30-year fixed-rate mortgages: averaged a new record low of 3.87 percent, with an average 0.8 point, dropping from last week’s 3.98 percent average. A year ago at this time, 30-year rates averaged 4.81 percent.
• 15-year fixed-rate mortgages: also reached new lows this week, averaging 3.14 percent, with an average 0.8 point. Last week, 15-year rates averaged 3.24 percent and a year ago at this time 15-year rates averaged 4.08 percent.
• 5-year adjustable-rate mortgages: averaged 2.80 percent, with an average 0.7 point, dropping from last week’s 2.85 percent average. Last year at this time, 5-year ARMs averaged 3.69 percent.
• 1-year ARMs: averaged 2.76 percent this week, with an average 0.6 point, inching up slightly from last week’s 2.74 percent average. A year ago, 1-year ARMs saveraged 3.26 percent.

Source: Daily Real Estate News | Friday, February 3, 2012

30 Year Fixed Rates Rise But Still Below 4% This Week..

Here’s the scoop on mortgage rates for the week ending Jan 26:

• 30-year fixed-rate mortgages: averaged 3.98 percent, with an average 0.7 point, up from last week’s low of 3.88 percent. A year ago at this time, 30-year rates averaged 4.80 percent.
• 15-year fixed-rate mortgages: averaged 3.24 percent, with an average 0.8 point, inching up after last week’s 3.17 percent average. Last year at this time, 15-year rates averaged 4.09 percent.
• 5-year adjustable-rate mortgages: averaged 2.85 percent, with an average 0.7 point, also up from last week’s 2.82 average. Last year at this time, 5-year ARMs averaged 3.70 percent.
• 1-year ARMs: averaged 2.74 percent this week, with an average 0.6 point--holding at last week’s 2.74 percent average. A year ago at this time, 1-year ARMs averaged 3.26 percent.

Source: Daily Real Estate News | Friday, January 26, 2012

Through Oct., HUD will sell REO homes to owner-occupants who qualify for FHA financing, including 203k fix-up loans. In most cases Hud will also cover up to 3% closing cost.

In Florida and a handful of other states, the Department of Housing and Urban Development (HUD) will sell homes it owns for only a $100 downpayment, providing buyers meet certain conditions.

Buyers must plan to live in the home and pay full asking price. Buyer must also purchase home with FHA finacing.

This deal also will cover those homes that require repairs that are being bought through FHA203K loan.

FHA 203K loan: is a way for a buyer to borrow more than the list price and use the extra money to fix it up. By rolling the loan money plus fix-up costs into a single loan, buyers can pay it off over time with one monthly payment.

For more information check out HUD's website

Royal Oaks Luxury Homes

Miami Lakes drive 154th St and Royal Oaks Blvd

Miami Lakes has a very small amounts of communities, mostly it is one general hidden community and that is how the locals like it. Construction of Royal Oaks Began in 1984′s and 90′s 2000′ construction continued building family custom homes. Royal Oaks truly unique feature is that you are amongst the most desirable homes in Miami Lakes with its own style crossing between ranch and Mediterranean-style. Most houses for sale now have all amenites that one can ask for.
Miami Lakes offers access to Lakes, playground for your kids, golf course, tennis courts, gym, cafe on the premises, town homes, pools, racket ball courts, and even retail commercial space.

For more information plesae visit our Royal oaks Home page

Royal Oaks Luxury Homes

Miami Lakes Homes

The town of Miami Lakes was originally a development, east of the Palmetto Expressway, was master planned by Lester Collins with curving tree-shaded roadways and numerous curving lakes which are unusual compared to most surrounding areas with treeless streets on a square grid and rectangular lakes. This original development, which is on the east side of the more recently designated Town of Miami Lakes, has neighborhood shopping centers, tot-lot parks, and a town center named Main Street.

The Graham Company began in 1962 on developing the land that was formerly owned by Florida State Senator Ernest ‘Cap’ Graham. A significant portion of Miami Lakes is still owned by the Grahams, mostly apartment buildings, shopping centers, office buildings and still undeveloped land.

The Town is an early model of the New Urbanism movement with shopping and services located in walking distance of residences as well as narrow walkable streets and plenty of neighborhood parks.

For more information please visit our Miami Lakes Home page.

Miami Lakes Homes