I suggest you call a lender and discuss your financial situation with them first. There is always the possibility of
the Seller paying your closing costs. However, without knowing what you truly can afford it is difficult for me as a real estate professional to advise you.
Once you have know where you stand, then you can start looking at your options e.g. Seller financing etc.
Hope this helps you.
Phil Fowler Realtor
Keller Williams Realty
I can fix your credit at no cost and get you set up so you can buy a home within 30 days. You can get away with 3.5% down and also have a seller concession of up to 6%.
Also I have a program that lets you have a credit score as low as 560!! This program is only availible to Brokers and the interest rates are comparable to those with a 620 or higher.
I can definitely help! My firm is a direct lender- meaning we fund and service our own loans and we offer free credit repair, so please call me and I can explain all of your options. On a typical FHA loan, 5% for down and sellers contributions of up to 6%, usually is plenty to cover all of your closing costs.
500 W. Cypress Creek Rd, Suite 330
Fort Lauderdale, FL. 33309
office 954-771-7715 x104
Florida Mortgage Lender
Poor is unfortunately a tough explanation of your credit. What is poor to one may be great to another. By poor, what do you mean score range wise. Are you below 620, are you above 620, etc. Depending on where you are looking, you may not need to put any money down if we can qualify you on a USDA rural loan. If the area you are looking does not support this loan type, then FHA may be an option which would only require a 3.5% down payment and closing cost can be paid by the seller for you. There are a lot of variables to financing and your best bet is to speak to a reputable broker/lender that can assist you with your particular needs. If you would like to discuss your possible financing options further and in more detail, you may contact me at any time.
Joshua Lerette - The Tampa Bay Mortgage Pro
It just depends on your credit history. The best thing to do is to call a lender who can help you with a preaqualification. 5% is ample to put down for FHA financing. Feel free to give me a call or an e-mail. 813.727.1867. Bryan.Lovell@tricountyfl.com.