When Life Gives You Waves…Learn To Surf!

Hot Deal #1 Wild Heron condo with Shark’s Tooth Golf Course and Watersound Beach club membership

2100+ sq ft 3BD/2BA well maintained ground floor unit close to Clubhouse, screened in porch
Lots of detail with lovely crown molding, granite counters, large closets & lots of storage
Has a large 2-car garage. Enjoy all of the amenities Wild Heron has to offer – $284,900
(Courtesy of Beachy Beach)

Hot Deal #2 Cute Beach Cottage just 3 houses down from the beach priced under $300K!

3BD/3BA with an additional bunk room & 3rd floor loft, large 2nd & 3rd floor balconies
Bamboo flooring throughout 1st level, Large master suite w/lots of closet space
Home is in excellent condition and would make a wonderful primary home or vacation rental
(Courtesy of Beachy Beach)

Hot Deal #3 Impeccable Watersound West Beach home sold fully furnished once the Boswell model home

4BD/4-1/2BA home with 2700+ sq ft, upgraded beautiful hardwood floors throughout
Offers 1st floor master suite w/marble surround tub, custom cabinetry & counters
Lovely screened in porch with grill & prep area. This is a MUST SEE – $919,900

Shimmering Seas at Pier Park turns 5 Today!



Today, Saturday, August 24th Shimmering Seas Jewelry at Pier Park in Panama City Beach is celebrating its’ FIFTH year of business!

There is a celebration at the store today from 12 to 8 and a chance to win $500 in FREE JEWELRY and 10% of all sales will go to Children’s Home Society here in Bay County.  Attendees will have a chance to win door prizes and enjoy complimentary chocolates and champagne.

Shimmering Seas is an active member of the Panama City Beach Chamber of Commerce  and very involved in community service and a great place to find gifts, from one of kind pieces made by local artists to classic Pandora charms and bracelets.

Shimmering Seas is located in the Pier Park Boardwalk area near Margaritaville.


Stay tuned to their FACEBOOK page for future events both at the store and in the community.


Dancing For Life is this Saturday!


If you have ever wanted to see Sheriff Frank McKeithen shake his tail feathers, you can this Saturday, August 10th at Arnold High Theatre.


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McKeithen along with other law enforcement officers such as Police Chief Drew Whitman, Sergeant Emily Melton and Teresa Anglin will show off their best moves with professional dancers from Fred Astaire Dance Studios.

Event Attendees will also enjoy something that is quite a treat for our area, a dance performance from nationally acclaimed dancers who waived their performance fee so all event profits could go to Relay for Life.  In addition to helping judge the event, World Mambo Champions Ronald and Katie Guillen as well as World Cabaret Champions Kimalee Piedad and Justin Guilmette will be performing.

Bay County law enforcement will go head to head with the Panama City Beach Police Department after spending twenty five hours to prepare a choreographed dance routine to be performed live with their professional partner.  The winner will be decided by a combination of votes from judges, audience applause, and the number of “votes” or dollar donations each dance couple receives.

The donations will aid in Fred Astaire’s fundraising efforts for their Relay for Life team for the American Cancer Society. Fred Astaire was moved to start this event five years ago when a beloved student, Dr. Joan Elzawahry passed away from cancer. It was then that the Fred Astaire of Panama City decided to use their gift of dance to help the fight against cancer and their efforts are gaining traction with each passing year.

Show organizer and Ballroom Dance Instructor Stephanie Van Wick reports that “I have been involved with this project since the beginning and have watched it grow.  This year it has been especially amazing seeing the level of community involvement, it has inspired me to work harder to make our contributions count.”

You can start voting for your favorite couple now by making a donation as well as purchase tickets for the show by going to www.fredastairepanamacity.com or calling their studio in Panama City at 850-873-6269.  General admission tickets are $25 per person but VIP tickets which include preferred seating and a cast party directly following the show at Boatyard restaurant are only $45.

Showtime is 6:30 pm at this Saturday, August 10th at Arnold High School Theatre on Alf Coleman Road in Panama City Beach.





Buying a Home? A Better Alternative to the FHA Loan is Available

Two weeks ago I featured the benefits of the USDA Rural Housing Loan, which is a very good loan with 100% financing. However, this loan limits its’ availability to those buying houses in areas deemed eligible by USDA and those who are under certain income limitations set forth by USDA.

Last week I discussed the FHA loan which used to be a good option for those seeking a low down payment. However, recent changes have increased the cost of the Mortgage Insurance (MI) that FHA charges and for the most popular FHA loan, the 30 year fixed rate loan with 3.5% down, the MI is now charged to the home owner for the full 30 years of the loan; it does not drop off after a period of time like in the past. The FHA loan has now become a very expensive loan because of this MI change.

Good news comes in another good low down payment loan program, the Conventional Loan with 3% Down Payment.  This loan does not have any up-front MI whereas FHA charges 1.75% that is added to the loan amount financed.  Even better is the monthly MI, which is priced on a comparable or better rate than FHA.

  • The FHA 30 year fixed rate loan with 3.5% down, charges MI for the full 30 years of the loan.
  •  The Conventional Loan with MI allows the MI to be removed at any time the loan to value reaches 80%, and it automatically drops off when loan to value reaches 78%. Best of all there is no minimum time period that it must be charged.

The example below compares a 30 year fixed rate FHA loan with 3.5% down vs. the Conventional loan with 3% down.

Loans Compared

Despite the fact that it has a lower interest rate, the FHA loan has a higher APR and costs $19,251.20 more due to the MI being more expensive and charged for 30 years.  Once the Conventional loan reaches 80% loan to value the home owner can request the MI be removed. It automatically drops off at 78% loan to value. (All numbers are estimates. This example does not include property taxes and home owners insurance)

You are welcome to email specific questions to me at mtarleton@englending.com, call me at 850-866-2963, and also visit my website at www.bankofengland.us.

Mike Tarleton
Sr. Mortgage Loan Officer
Bank of England.  5410 E. Hwy 30-A, Suite 212.  Santa Rosa Beach, FL 32459
850-866-2963 (Cell)
706-888-0980 (Cell / Text)

NMLS: #264821

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