New Houses in Ocala Florida
Buying a new home in Ocala Florida could be your ticket to a wise investment and affordability!New Houses in Ocala Florida
We finance new houses in Ocala Florida and have home building partners with properties that have never been lived in and are move in ready! Homes are available throughout Marion county. If your goal is to build a custom home and finance the construction we have options for you as well. Although its much easier to finance an existing build that has been completed at the cost of the builder. Doing it this way saves you on closing costs, gets you a better interest rate, and gives you more flexibility on credit score. If the home isn’t quite complete you can still get it under contract and have the ability to choose finishes and colors just like you would with a custom build!
Builders would like you to be pre-approved just like a regular listing, we can help whether you are pre-approved already or not!
If you want to see new houses in Ocala Florida for sale skip to the bottom!
How Much Down Do I Need?
When financing new houses in Ocala Florida or the surrounding areas we have a lot of options available. If purchasing as a primary residence, $0 down is available with USDA financing. 3.5% down is possible with FHA financing. $0 down is available if you are a veteran utilizing your VA benefit for primary or secondary financing. Conventional financing is available with as little as 3% down for first time home buyers. If you work for a Florida based company then Hometown Heroes is available for those who have not owned a home in 3 years. This program contributes 5% of the sales price towards the down payment and or closing costs in the form of a silent second mortgage at 0% interest. If you want to buy an investment property 20% down will be needed.
How Quick Can I Close on a New Home?
If the home is already complete then there is no stopping you from closing as quick as possible. We work some of the most competitive and quick lenders in the country. So we can close just about as quick as you can get documents to us. As soon as 2 weeks once you’re under contract. The home has to have what is called the certificate of occupancy, or the C.O. to close. This is the final permitting process done by the local Ocala and Marion county government that allows the home to be officially occupied. If you have happen to find a home in an area around Ocala that you love and its not complete you can still get it under contract! Its also a great chance to talk to your builder about finishes and colors that you may want to customize.
What is the Minimum Credit Score Required?
We can finance new homes with credit scores down to a 580 utilizing FHA, or VA financing. To use conventional financing you at least need a 620 credit score. To use a first time home buyer program you at least need to have a 640 credit score. Making sure you are pre-approved is paramount when buying a new home. Builders typically only use preferred lenders to do the financing on their homes. While a lower score is possible if that’s your case a more thorough process would be required to ensure that your loan would close. Builders do not like to tie up their properties to deals that fall through. We are the preferred lender to multiple builders in and around Ocala Florida. Starting with us is a great first step.
Can I Save Money on a New Home in or around Ocala Florida?
Ocala Florida and the surrounding areas are known for their affordability. Whether it be the Silver Springs Shores, Marion Oaks, Dunnellon, Rainbow Park Estates, Ocklawaha or anywhere in between there are plenty of new homes to choose from. Prices can be as low as $240,000. The savings doesn’t stop there. Did you know that home owners insurance on new houses is extremely low compared to existing homes? We see quotes come in all the time between $500 and $600 for insurance. Compare that to existing homes that can easily be $1,500 or more.
More things To Love About New Homes in Ocala Florida.
Home insurance is not the only way you will save money when buying a new home. The cost of utilities can be substantially cheaper when buying a new house. Modern insulation and building techniques make new homes much more energy efficient. Additionally new air conditioning units installed as of January 1st of 2023 in Florida must have a 15 SEER rating. This will give you monthly savings on your energy bill living in Florida and combatting the summer heat! Lets not forget about maintenance. All of your appliances will be new. New water heater, new roof. A roof can easily cost $10,000, when buying a new house you are putting this cost off for a decade at least.
Are New Construction Homes a Good Investment?
Whether you want to buy a new house in Ocala Florida as a primary residence, second home or an investment property they can make for a great investment. With having less items you will need to repair and replace over the coming years there is inherent value in purchasing a new home. Additionally if you want to be a landlord and rent the property, prospective renters often choose new properties over old properties for the same reason you’re considering a new house. There is just something about being in something new. The lower electric bill on new construction homes is just as attractive to renters as it is home owners.
Key Points to Remember When Buying a New House in or around Ocala Florida
- You must be pre-approved, builders like to use preferred lenders because all too often mortgage pre-approvals are not done thoroughly.
- Single family homes are available in Ocala, Silver Springs Shores, Ocklawaha, Dunnellon, Rainbow Park Estates, Marion Oaks and more.
- You don’t need a construction loan to purchase a newly completed home, its much easier to qualify for a builders spec home than to do a custom construction build.
- First time home buyers programs are available!
- Builder concessions for closing costs may be possible.
- We can fully underwrite your file to make your pre-approval rock solid!
- We can use FHA, VA, USDA, Conventional financing or with 10% down a bank statement loan is possible! Additionally for investors a DSCR loan is possible.
- To get a taste of what one of our preferred builder partners has to offer visit Shamrock Construction.
A Few Perks to Remember When Buying a New House
- Your home owners insurance is going to be much cheaper when buying a new house in Florida.
- New homes are more energy efficient by way of insulation and by using the newest energy efficient air conditioning units on the market.
- A new roof goes a long way, apart from your roof being up to the latest hurricane code requirements it saves you real money not needing to worry about a new roof for the next 10-20 years.
- You can make it your own! If you get lucky enough for us to connect you with a builder who hasn’t completed a home in the area you like, you get to choose your finishes and colors. As long as you are pre-approved, these options can be negotiated when settling under contract for the property.
- Deferred maintenance on appliances and the necessities of a home. The value of everything being new can not be overstated! New water heater, new air handlers, new refrigerator, new dish washer, new fuse box, new plumbing fixtures. These are all things than can break over time and with a new house you get new everything!
A word from Keith Meredith, Division President of Black Rock Mortgage
“Keith here, if your goal is to view new construction homes for sale in or around Ocala we can help! Please fill out the info request form below and we will get you going in the right direction asap! We can help whether you are pre-approved already or not! !”
Keith Meredith- Division President
