How long should Space Coast home buyers lock their mortgage rate?

Choose a lock that runs past your expected closing date. The CFPB says locks are typically 30, 45, or 60 days, and extending one can be expensive, so match the length to your closing timeline.

If …

How does a 5/1 adjustable-rate mortgage work for Space Coast home buyers?

A 5/1 ARM holds a starting rate for five years, then adjusts once a year. The new rate is the index plus the lender's margin, limited by rate caps. Payments can rise after year five.

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Can a Brevard County, Florida home get removed from the flood zone with a LOMA?

Sometimes. A Letter of Map Amendment from FEMA can show a home sits on naturally high ground above the base flood elevation. If granted, it can remove the mandatory flood insurance purchase requirement.

Does it make sense to refinance a home in Brevard County, Florida?

It makes sense when the new loan meets a specific goal and you stay in the home long enough to earn back the closing costs. The CFPB says to consider a refinance only if it meets …

If you're thinking about moving to Merritt Island, Florida, picking the right side of the island matters more than most people realize. Merritt Island isn't one neighborhood. It's a long strip of land running north to south between the Banana River and the Indian River, with three very …

Merritt Island is a one-of-a-kind Space Coast market. It is an island between the Indian River Lagoon and the Banana River, with canal-front and riverfront homes, inland neighborhoods, and quick access to Cocoa Beach, Port Canaveral, and Kennedy Space Center. Because the buyer pool here is so varied, timing …

How much does it cost to live in Merritt Island, FL? The Census Bureau puts the median owner-occupied home value in Merritt Island at about $402,900 and median household income at about $94,012, so housing is the biggest line item, followed by homeowners insurance, property taxes, and transportation.

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What is the fire protection class for homes in Brevard County, Florida?

Brevard County Fire Rescue was updated to ISO Class 3/3X effective November 1, 2022, and the Melbourne Fire Department reports an ISO Class 1 designation. Your address determines which department protects it.

Most Space …

How many tornadoes has Brevard County, Florida had?

The National Weather Service recorded 66 tornadoes in Brevard County from 1991 to 2020, more than any other county in its East Central Florida area. Most were rated EF0 or EF1.

Severe weather is part of the research …

What is a cost segregation study on a Space Coast rental property?

A cost segregation study splits a rental property's purchase cost into land, building, and shorter-life components. The IRS describes the appeal as shorter recovery periods and accelerated depreciation.

If you own or plan to …