Delaware, a small Mid-Atlantic U.S. state, sits on a peninsula marked by dune-backed beaches bordering the Atlantic Ocean, Delaware River and Delaware Bay. In Dover, the capital, First State Heritage Park encompasses 18th-century Colonial landmarks like the Georgian-style Old State House. The city of Wilmington is known for the Riverfront, a waterside district of parks, boutiques and restaurants.
Delaware is famed for its pristine, family-friendly beaches, which draw thousands of day-trippers each summer. Dewey Beach and Rehoboth Beach have garnered 5-star ratings for water quality, and like other stretches of Delaware seashore, offer an idyllic setting for shopping, dining and watersports. Known for its central location, low crime rates, zero sales tax, relatively low cost of living and beautiful clean beaches, moving to Delaware can be a great choice if all of that sounds like what you'll like to experience. Delaware is home to several industries that support both small and large businesses.
The city itself has numerous museums, including the Biggs Museum of American Art, the Museum of Small Town Life, the Delaware Agricultural Museum and Village and the Air Mobility Command Museum on Dover Air Force Base. If you have a sports fan in your family, plan to catch a race at the Dover International Speedway.
How hot is New Castle County's real estate market in Delaware? The median sales price for a single-family home in New Castle County during November was $355,000. That's an increase of 16.8% compared with November 2020, according to a USA TODAY Network localized analysis generated with data from Realtor.com. Based on the most recent reports from Delaware Realtors, the answer is a resounding "Yes!" with tight inventory keeping housing prices high in the state high. It's true that Delaware has one of the hottest real estate markets in the country, and for good reason. The top Delaware cities we are serving Wilmington, Dover, Newark, Middletown, Bear, Glasgow, Hockessin, Brookside, Smyrna, Milford:
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There are certain requirements borrowers must meet to qualify for an FHA loan (may differ case to case and lender to lender basis), including:
• The home you consider must be appraised by an FHA-approved appraiser.
• You must occupy the property within 60 days of closing.
• You can only get a new FHA loan if the home you consider will be your primary residence, which means that it can't be an investment property or second home.
• An inspection must occur, and the inspection must report whether the property meets minimum property standards.
• The type of credit you have (whether you have credit cards, loans, etc.)
• Credit utilization, which is simply how much credit you use
• Whether you pay your bills on time
• The amount you owe on your credit cards
• How much new and recent credit you've taken on
• According to the Department of Housing and Urban Development, the maximum FHA lending amount for high-cost areas (such as large metropolitan areas) is up to $970,800 for 2022.
• The policies of lenders regarding Alaska and Hawaii do differ in terms of loan limits.
• In lower-cost areas, the FHA limit can dip as low as $420,680.
• Loan limits are set based on county property values.
• These are the limits for one-unit properties. If you have multiple units, limits may be higher.
If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.
House construction loans are typically disbursed in instalments or stages, also known as "tranches". It is based on the progress of the construction work. The lender may appoint an expert to assess the construction progress at different stages before releasing the funds.
if you wish to apply for a home construction loan, you have to provide the lender with a detailed construction timetable, construction plan & a realistic budget for construction. After a construction loan is approved, your loan amount is disbursed in stages as per the demand of each construction stage.
It is usually cheaper to buy a home than build a new one. However, by building your own home you get a brand-new residence, customized to your needs. It costs $295,000 on average to build a home in Florida. This figure can add up to $445,000 if you include land costs, excavations, permits, and other expenses.
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