About Orlando's Bay Hill Village

The Pro's and Con's of FHA/VA/USDA Home Loans In Orlando Florida

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. Most of whom plan to refinance or sell the property within the next 5 years.

Senior Home Loan Originator Jim Poole

NMLS #351358

BAY HILL VILLAGE Orlando Florida 32819 

This is a photo of the BAY HILL VILLAGE community marquee.

BAY HILL VILLAGE is nestled in the larger area of Southwest Orlando, known as Dr. Phillips. Dr. Phillips is best known for all the unique featured  communities that have ultra prime real estate residential development. Dr. Phillips has many subdivisions to choose from with a extreme spectrum in pricing from the low 150k to 100 million dollar homes. It has the best in golf courses and country clubs. Dr. Phillips also has one on the lowest crime rates in Orlando, followed by having the best elementary, middle & high school.  It should not be difficult to find the right property for you, many short sale and foreclosure opportunities. Lets get started today and find the real estate that you have been waiting for.

Buying or selling your home in BAY HILL VILLAGE I can assist you!

Facing a foreclosure? Try a short sale! We can help!

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Community Quick Facts!

•  Neighborhood established in 1980
• gated with security
  
• This community consist of 122 luxury Condos
  
• As of 2010 the HOA fee is $625.00 annually
• Square foot range 1,988  - 3,775
  
• Price range mid 300's  - mid 600's
  

Schools for this Community:

Dr. Phillips Elementary*

Southwest Middle*

Dr. Phillips High School*

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Streets associated with this Community

"AERIAL PHOTO"

Chesapeake Park,  Jamestown Park,  Charleston Park,

Lexington Park,  Independence Drive,  Savannah Park

SEARCH NOW FOR YOUR FUTURE HOME!!

Click on any home, zoom in or out on the map.

Plug in your own values on the mls search to find properties below.

See our current real estate listings in BAY HILL VILLAGE below.

Bay Hill Village is located in the Dr Phillips section of the Orlando real estate market. There have been 5 single family houses sold in 2007. They sold for prices ranging from $427,000 to $590,000 with and average of $512,400 and they ranged in size from 2,332 square feet to 2,720 square. They took an average of 74 days before they sold.

There is presently 1 house that is pending closing. It is 2,551 square feet and the asking price is $489,500.

There are 3 houses on the market. They range in size from 2,238 square feet to 2,462 square feet with asking prices of $489,500 to $849,900.

Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 7 months. This is much lower than the average with the rest of the Orlando real estate market.

If any additional information is required either log onto http://www.flatfeerealty.info/ and fill out the contact us or call 321-766-7176.