"Stars: pearls round the tiara of midnight, mysterious heaven-lights to serve the spirit's flight to paradise." ~T.C. Henley
Charming Bluffton overlooks the May River not far from the Atlantic and boasts a cute downtown, tree-lined streets, boat docks and historic homes.
How You Can Benefit from a Reverse Mortgage
If you are looking for a way to have a more comfortable retirement, a reverse mortgage may be a way to finance it.
If you are age 62 or better, own your own home, have enough equity in it and plan to stay in it during retirement, then you can probably qualify for a reverse mortgage, letting you elimnate your current mortgage payment and receive tax-free money for retirement (or anything else). You keep ownership of your home until you leave it and continue to pay taxes and insurance on it.
A reverse mortgage is not for everyone - fees can be high and there are a few other downsides - but for many people, this mortgage product can be a financial lifesaver. Talk to a HUD representative or reputable mortgage lender to see if a reverse mortgage is right for you.
Situated on the Palouse, a striking agricultural region in southeastern Washington, Pullman is a peaceful town and home to Washington State University.
Unassuming Jensen Beach, once the "Pineapple Capital of the World," is today known for its peaceful way of life, sea turtles, excellent fishing and quaint, colorful downtown.
Nestled on the shores of pretty Lake Chatuge in northern Georgia, Hiawassee is a scenic place surrounded by the Blue Ridge Mountains and two national forests.
Tucked in a valley and surrounded by mushroom farms, Kennett Square is steeped in history. Its leafy neighborhoods are stocked with prim homes, and the downtown is cute and touristy. The annual Mushroom Festival is a must-attend event.
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Five Types of Mortgage Loans
Fixed Rate Loan - The most common type of conventional loan, a fixed-rate loan has one interest rate and a fixed monthly payment for the length of the loan, which is usually 15 or 30 years.
Adjustable Rate Loan - These mortgages have a lower, fixed rate for a set period of time, usually five or 10 years. After that, the rate adjusts once a year according to current interest rates. The monthly payment goes up or down accordingly.
FHA Loan - This government-backed loan lets a buyer put down as little as 3.5% of a home's purchase price verses the normal 20% required with a conventional loan.
VA Loan - This mortgage loan is for people who have served in the military and requires no down payment or mortgage insurance.
Reverse Mortgage - A reverse mortgage is for people age 62 or better who have equity in their home, want to take it out in the form of tax-free cash and eliminate their mortgage payment.
Along the eastern Florida Panhandle, also known at the Forgotten Coast, Port St. Joe is a quiet, rural deep water port with two traffic lights, a handful of waterfront restaurants, a farmers' market and reasonable prices.
An old fashioned fishing village on the Chesapeake Bay, Rock Hall dates from 1701 and has more than a dozen marinas with boats of all shapes and sizes.
In Depth Review:
A peaceful, pretty place, Cody is the eastern gateway to Yellowstone National Park and draws retirees looking for dry air, blue skies and a rich Western heritage.
A major tourist destination on Florida's western Panhandle, Destin sits on a peninsula and is known for its stunning white sand beaches and translucent turquoise waters.
Known for its beautiful German architecture and wineries, touristy, historic Fredericksburg is in the Texas Hill Country and is surrounded by peach groves, herb farms and bluebonnet fields.
A quaint harbor town on the Neuse River, Oriental is the self-proclaimed "Sailing Capital of North Carolina," and its picturesque marina is stocked with tall masted sloops, schooners and powerboats.
Growing, prosperous Parker sits under a towering blue sky in the shadow of the Rocky Mountains and is home to large properties and beautiful views.
A little more than a mile long, laid back Beverly Beach sits on a barrier island and has a beautiful, often uncrowded strip of sand.
Pretty Signal Mountain sits on a ridge at the end of the Cumberland Plateau overlooking the Tennessee River and has a suburban, country vibe.
In Depth Review:
Retirees come to sun drenched St. George for its healthy living, abundant golf courses, dry climate and striking natural beauty.
Tiny Cedar Key sits on a small barrier island off Florida's Big Bend coast and has a seductive "ends of the earth" feeling about it. T-shirts and flip flops are standard attire.
With a pretty setting in the Santa Cantalina Mountain foothills, Oro Valley is a Tucson bedroom community and home high tech and biotech companies.
Southern hospitality, beautiful homes, historic neighborhoods and pretty beaches bring retirees to Mount Pleasant, South Carolina.
Compact, coastal Belleair Bluffs rests on one of Florida's highest coastlines and is a gateway to beautiful Gulf Coast beaches.
Surrounded by the Blue Ridge Mountains in lush western Virginia, historic Abingdon has an active arts scene, an attractive downtown, reasonable prices and more.
Where Are All the Inexpensive U.S. Beach Towns That Don't Have Hurricanes?
Not all U.S. beach towns experience hurricanes or tropical storms, but inexpensive U.S. beach towns are hard to find. Some are somewhat reasonably priced with prices below the national average, but few are cheap - most have costs above the national average. So a cheap beach town with no hurricanes exists primarily in the imagination.
Choosing a Great Place to Retire
When looking for great places to retire, we consider a number of factors, including cost of living, medical facilities, climate, transportation, crime rates, cultural amenities, education levels, shopping venues, infrastructure, recreational opportunities, housing options, the poverty rate and more. We weigh all of the evidence to decide if a town has enough going for it to make it a top place to retire. We are not affiliated with any of the places that we review.
What is the Difference Between Average Home Price and Median Home Price?
When searching for a place to retire, housing costs are a top concern. So what is the difference between the average home price and the median home price? The average home price is determined by adding together all the prices of homes sold during a specific timeframe and then dividing that amount by the number of homes sold. On the other hand, the median home price is the middle sales price of all the homes sold. In other words, a median price means that half of the homes sold at a price below the median and half sold at a price above the median.
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