Financing in Oviedo>Question Details

Darce, Home Buyer in Oviedo, FL

Financing Options, Oviedo

Asked by Darce, Oviedo, FL Tue Jun 19, 2012

I am looking to move to the area and wish to buy a 4 bed with pool; details are credit scores in the 620-650 range I think, permanent resident visa holders, approx 10% for downpayment, secure employment, not much for closing costs. Do I have any/many options, and is there a guideline for closing costs in the area? Thanks in advance.

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Beate Rodriguez - Mortgages’ answer
Hello Darce,

based on the info provided you could have a good chance on getting a mortgage approval for a FHA Loan Product.

If there is anything I can do to discuss your options and pre-approve you for the home of your dreams, please feel free to contact me at your earliest convenience.

Best Regards,
Beate Rodriguez
Lic. Loan Originator

Beate.Rodriguez@HGFLoans.com
Cell: 954.695.4849
0 votes Thank Flag Link Tue Jun 19, 2012
FHA is a great program, and it sounds like your best option, although I would not rule out Fannie/Freddie with 10% down. A good loan officer can run both scenarios for you and you can choose the best option. If you get your scores higher, I think Fannie/Freddie would probably be best.
I would be happy to run the numbers for you and get you pre-qualified or pre-approved, so you can shop knowing your options and payments in full before moving forward.

Best wishes, Jim 703 615 4675
0 votes Thank Flag Link Wed Jun 20, 2012
Hi Darce,

Sounds like there would be several options open to you. I would recommend you contact Tara Pinard at Sunbelt Lending Services - (321-689-5964 tpinard@sunbeltlending.com) Sunbelt Lending is an affiliate of Coldwell Banker Real Estate and has many programs available. Tara can usually take your information over the phone and have an answer for you same day. Her office is in Longwood.

Once you have spoken with a lender and have your pre-approval we'd be delighted to help you with your home search. You can search for homes on our web site: http://www.floridamoves.com/denise.scheuy

Denise & Al Scheuy
Coldwell Banker Residential Real Estate
(407) 312-4553
denise.scheuy@floridamoves.com
0 votes Thank Flag Link Wed Jun 20, 2012
Hi Darce,

With your credit scores and down payment, you're looking for an FHA mortgage. The good news is you can ask for seller concessions to cover your closing costs and if need be, you can also reduce your down payment since FHA on requires 3.5% down.

Please feel free to contact me for more info or help.
0 votes Thank Flag Link Tue Jun 19, 2012
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