Financial Information

Turn Your Dream of a Vacation Home Into a Reality

Ever been on a relaxing vacation watching a glorious sunset and wished you could own your own vacation home? If so, you are not alone. According to the National Association of Realtors Vacation and Investment Home Sales: A breakdown for 2017, thousands of buyers felt the same way and turned their dreams into a reality.
Financing a vacation home
There is a misconception that vacation home buyers pay in cash or have a large down payment. NAR cites that 72% of homebuyers purchasing a vacation property financed their purchase. Of those financing, the majority put down 30% or less as a […]

There is Hope After Bankruptcy or Foreclosure

Millions of Americans have been affected by a short sale, foreclosure or bankruptcy and may be afraid they will never be able to own a home again. Luckily, a derogatory credit item doesn’t mean an end to homeownership.

Check out the chart below to view waiting periods, by loan type, for homebuyers who have experienced foreclosure, short sale or bankruptcy, without extenuating circumstances.

*Foreclosure rates are cited from CoreLogic data highlighted in a January 2015 Forbes article.

The information voiced in this material is for general information and is not intended to provide specific advice or recommendations for any individual.

All loans subject […]

Common Mistakes That Can Compromise Your Mortgage Loan

After months of searching, you have finally found the right community, picked out the perfect lot, selected your dream floorplan and have even been pre-approved for a loan. Now, as you wait to close on your beautiful new home it may be tempting to shop for beautiful new things to furnish it. Be cautious when doing so because buying those beautiful new things may compromise your mortgage loan.
From the time you apply for a mortgage to the day you close, your financial management decisions can impact whether you are approved or denied. Sounds scary, but with some simple financial […]

‘Nobody Told Me!’ Home-Buying Fees Explained Here

No matter your tax bracket or life circumstance, buying a new custom home is one of the largest financial transactions you’ll make. There’s no dismissing that fact, but if you’re a first-time buyer, you should understand that it-costs-lots-of-money means more than simply a big outlay of cash. For example, your credit health must be good. You must be approved for a mortgage. You must be able to make a down payment to activate your mortgage. But you also must pay obligatory transaction fees during the home-buying process. Here’s a primer so you won’t have to say, “but nobody told […]

Buying Vs. Renting Part 5: Our Best Advice

Should You Rent or Buy? A Guide

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Buying a home is a serious adult activity. None of it is one-size-fits-all. We’re as individual as our DNA and life situations, and it’s silly for us — or anyone — to dictate decisions to you. Our goal in Buying Versus Renting is drilling down to basics, using practical realities and our experience from more than three decades as Florida’s Custom Home Builder.

Once you’re ready to buy a new home, view your situation through the lens of our suggestions, just as you’d apply a magnifying glass to the fine print of an […]

Buying Vs. Renting Part 4: Home Sweet Where?

Should You Rent or Buy? A Guide

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When you’re deciding whether to leave the rent cycle and buy a new home, many factors compete for your attention. The financial one is the weightiest.

“Property taxes!” pundits, experts and media howl. “You don’t pay those as a renter.”

“Home maintenance costs!”

“You’ll lose money if you sell you home before you establish equity!”

Then there’s your financial health, the critical first step to becoming a new homeowner.

At some point you must form your own responses to the rhetoric above based on your life stage, age, career and family situation. Helping you do that is […]

Buying Vs. Renting Part 3: How To Find A Home

Should You Rent or Buy? A Guide

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At ICI Homes, we think home buying is a good thing. We’re walking you through all the major considerations of it, so you can make your most informed decision — crucial if you’re a renter seeking to make a change.

In Part I of our Buying Versus Renting series, we offered a birds-eye view of the positives of home ownership. In Part 2, we walked through personal financial basics that form the foundation of any home purchase.

In Part 3, we offer helpful guidelines for your new-home search. To help you focus on the […]

Buying Versus Renting Part 2: The Money Stuff

Should You Rent or Buy? A Guide

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In the financial, homebuilding and real-estate industries, the question of buying a home versus renting one prompts all sorts of calculators, graphics and pro-and-con discussions. It’s a perpetual topic that ebbs and flows according to interest rates and financial markets.

Full disclosure: we’re not crunching all those numbers here.

However, we at ICI Homes are positive that home-buying is a good long-term decision on multiple levels, as we detailed in Part I of our Buying Versus Renting series. So let’s assume you’d like to buy your first home. What comes next?
How’s your financial health?
If […]

Buying Versus Renting Part I: The Bird’s Eye View

Should You Rent or Buy? A Guide

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When we become adults — no jokes please, wink, wink — one of the universal passage rites is deciding whether to buy a home or rent one. Adulthood conveys stability and security. The financial means to make such a large purchase and keep it long enough to establish valuable equity (equity is like magic financial pixie dust, but more on that much later).

It’s also the American Dream, so lots of emotional and psychological thingies work on us too, when we contemplate where and how we want to live long-term. What does our […]