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WELCOME! We specialize in Portofino and waterfront properties in Pensacola, Pensacola Beach
and the Gulf Breeze, Florida Real Estate market. Looking for homes? Search everything the web has to offer, right here! Don't miss our Feature Homes. Need local real estate information? We've summarized much of what is important about the Pensacola, Pensacola Beach and Gulf Breeze real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top REALTOR®. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job. Contact us with confidence! We guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? We want to be YOUR REALTORS®. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As top Pensacola, Pensacola Beach and Gulf Breeze REALTORS®, we have the experience and track record you are looking for. Please let us help. - The Darlene Hammond Team   
Financing Your Home >Mortgage Terms
New mortgage loan products offer a more complex selection of terms. Lenders now offer mortgages that are blends of short-term ARMs and 30-year fixed-rate loans with a lower fixed-rate of interest for a period of five, seven or ten years. Be sure that you understand what happens at the end of the initial term before you sign on the dotted line for such a loan.
Many of these loans revert to a 1-year adjustable rate loan at the end of the initial term and can be adjusted once a year based on an index tied to the cost of money. You should know how much over the index your rate will be set and the limit or cap on how much your payments can increase. A "balloon" note requires the entire balance to be paid to the lender after the initial period of the loan ends. Most of these loans require the lender to guarantee to refinance the note at that point if payments have been timely. The lender should spell out how the re-finance rate will be determined and what costs will be involved. These loans can help you buy a more expensive house than you could afford with a 30-year fixed rate mortgage, but be sure that you understand the terms and the potential risks.
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What is the least affordable metropolitan housing market in the United States?
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California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation. |
 See More Real Estate Trivia > |
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The Darlene Hammond Team
Re/Max America's Top Realty
2777 Gulf Breeze Parkway
Gulf Breeze, FL. 32563
850-572-2615
850-934-4449
Fax: 850-934-4409
Email: darlenehammond@remax.net
The Darlene Hammond Team's commitment to the Pensacola, Gulf
Breeze, and Pensacola Beach areas goes way beyond just
buying and selling real estate, we are about building lasting and meaningful
relationships with the our customers, neighbors, friends, and associates in
the communities of Northwest Florida.    
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