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Linda, Home Buyer in Spring Hill, FL

I have a 640 credit score...would I have a hard time getting mortgage with a 50% down payment on a single family home in the spring hill area...Thanks

Asked by Linda, Spring Hill, FL Thu Jun 27, 2013

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Do not think you should have a problem with what you have stated unless your Debt to Income ratio is very high
0 votes Thank Flag Link Sun Jul 6, 2014
Depending on what you are looking for (price range) if you could put 50% down on say a $100,000 home, why not just pay cash for a home for $50,000 or less. I have seen some very very nice homes that are available for under $50,000. A lot of foreclosed homes valued at twice what they are selling them for.
Reason I say that is because I have been looking at homes that have been foreclosed that are selling for way less than what they are worth but I cant get a loan approved now to purchase one.
0 votes Thank Flag Link Sun Jul 6, 2014
are you working with a real estate agent now
0 votes Thank Flag Link Fri Jun 28, 2013
Not at all... You do not even need that much down.

We have loan programs from just 3% down.
With 50% down, you would not be able to do 0% down due to having that much in hand.

We are a local Mortgage Brokerage that handles all loan types.

Let me know if we can help you out.

Chris Suarez
Suarez Home & Finance Corp.
0 votes Thank Flag Link Fri Jun 28, 2013
Hi Linda,

You will not have a problem as long as you have a source of income, I mean it sounds like a lot 50% percent down and it is but depending on how long you have been at your job or if you have a monthly income from another source.

With a 640 credit score and 50% down I can't see any banks turning you down but they will ask you questions anyway. My lender's name is David Langsam from Manhattan Mortgage his number is 813-361-5402.

He has been doing loans for over 20 years, he's honest and will not take advantage of you with charges. If you would like help finding a home call me anytime! Please remember you can always ask a seller to pay some of your closing cost as you shop.

My website is
Kathy Schmidt
0 votes Thank Flag Link Fri Jun 28, 2013
Thank you Kathy....I will be relocating from ny and will not be employed right away...Do you think I should rent first and establish employment before I can be approved..
Flag Fri Jun 28, 2013
Hi Linda - you should be just fine - but ultimately you should contact a mortgage broker for that type of question - I'd be happy to recommend one if you'd like.

Feel free to check out for the best property search in the area!

If you have any other questions - don't hesitate to get in touch.

Thanks, and hope this was helpful for you!


Joshua Hanoud, PA
Team Leader
The Hernando Luxury Homes Team
Tropic Shores Realty, LLC
Cell: 352-397-5182
0 votes Thank Flag Link Thu Jun 27, 2013
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