Unless you’re a financial whiz, or someone in your immediate family or circle of friends is, the intricacies of buying a new home can be overwhelming, especially for first-time buyers. Add an uncertain economy and Wall Street doings, and the overwhelm can lead to frustration. But fear not — buying a new custom Florida home in a “flux” economy can be frustration-free. All you need is some patience, the willingness to learn key financial terms, interest rates, and processes, and you’ll be clearer on your path to a great new home.
There’s no doubt the recent global health crisis has affected all of us. Homebuyers pursuing their next new homes, whether for personal, career or family reasons, will need to pack some extra patience and can-do attitude.
The good news is that we at ICI Homes and our preferred lending partners are working hard to make it as easy — and even enjoyable! — as possible.
Staying steady is key
If you’re tracking interest rates and financial markets, you’ve seen some roller-coaster ones in recent months. That’s to be expected.
Interest rates for most mortgages have skewed up and down and around as markets and housing industry statistics reacted to the health crisis and its attendant economic effects. Mortgage lenders take their interest-rate cues from the Federal Reserve, which is monitoring and reacting to the needs of the U.S. economy.
However, the Florida residential housing market remains healthy. ICI Homes is actively building new custom homes all over the state, as we have for 40 years. We’re providing customers with a wealth of online resources to locate, tour, select, and buy just the Florida home they need — even with convenient live virtual appointments if desired.
We’re also scrupulously following the guidelines from the CDC and governor of Florida when it comes to in-person meetings. If you prefer that route, schedule a private, one-on-one tour of a model or quick-move-in home.
You do have to have a minimum credit score of 740 and use our preferred lenders. Veterans Affairs (VA) and Federal Housing Administration (FHA) loans also are available with special rates.
