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If you saw those prices for homes located in the Central Florida area, those prices are for rental properties. Please scroll down on the ads for complete information. Too good to be true. right?
It could be one of these options:
- It's an advertisement for a rental property
- The homes are in a low cost of living area
- The ad may only be referring to your mortgage principle amount and not factoring in taxes or insurance
- You'll be making a large down payment. Monthly payments depend on the amount you want to borrow (LTV ratio). Use a mortgage calculator to give you a rough estimate and consult with your Lender
In Palm City there are communities that have very low prices. The problem is they have high equity fees, non refundable applications fees and high maintenance charges. You can buy a beautiful home for under $5000, but pay out over $35000 before taxes and insurance just to live there.
At that price point the homes must be for rent.
Hi Norberto, Those will be rental prices.