Florida Mortgage Refinance Tips and Resources
Has become a popular choice for property owners in the Sunshine State. Many homeowners hold home mortgages on investment properties used for rental and vacation homes. Florida’s declining property values and increasing property taxes have made it challenging for landlords to remain competitive in providing accommodations to tourists and seasonal residents.Entering into Florida mortgage refinance can help real estate investors and homeowners reduce home loan payments. The average cost of refinancing mortgages ranges between 2- and 5-percent. However, when borrowers can reduce interest rates by 2-percent or more, they can save thousands of dollars over the term of the loan.
Real estate information provider, Zillow.com, reveals more than 13,000 homes are available for sale in Florida. Approximately 20-percent are bank owned homes listed below market value. In this highly competitive market many homeowners find mortgage refinance is a better option than putting their house up for sale.
“The impact has already been dramatic,” said Gordon Golub, the senior managing director for rentals at Citi Habitats. “Landlords are all trying to come to and more »
